29.3953D PAYOUT

Hauraki Plains Gazette, Volume 60, Issue 4308, 24 July 1950, Page 7

29.3953D PAYOUT

N.Z. DAIRY COMPANY BONUS AT END OF MONTH DEFERRED PAYMENT 3.534 d In a statement made on Wednesday Mr H. W. Davey, general manager of the New Zealand Cooperative Dairy Company, Ltd. said that the final payment's to the company’s suppliers for butterfat supplied during the 1949/50 season will be made at the end of this month. He said that in respect of butter supply, the deferred payment to shareholding butter suppliers would be 3.534 d, making the total average payment for the season over all grades of butterfat 29.3953 d.

As far a$ cheese and casein shareholding suppliers were concerned, Mr Davey said their total average payment, excluding town milk sales, amounts to 31.9076 d of which the deferred payment is 4.4541 d. Suppliers to milk powder factories and the evaporated milk factory would also receive special payments in excess of that for butter, while the town milk suppliers would receive payments based on the national price.

Mr Davey stated that while the rebates which would be distributed with the final payments to those suppliers who purchased their farming requirements through the company’s trading and machinery departments during the season under review were not included in the payout figures quoted above, nevertheless it was only right that they should be mentioned because they undoubtedly did result in substantial savings and, When calculated on a butterfat basis, represented a worth while increase in the incomes of those concerned.