Auckland Farmers’ Freezing Co.

Kawhia Settler and Raglan Advertiser, Volume XVI, Issue 868, 7 September 1917, Page 2

Auckland Farmers’ Freezing Co.

ANNUAL REPORT. The following report and bal-ance-sheet will be presented at the 13th annual meeting of the shareholders of the above company, to

be held at the hall of the Chamber of Commerce, this week. During the year 572,468 boxes of butter were received for freezing, an increase on last year’s figures of over 10 per cent. The quantity of cheese handled again shows a remarkable increase, 106,761 crates being received, or 60 per cent, more than during the previous year. The production of butter in the Auckland District is now about 60 per cent, of the whole Dominion’s output, whilst of the total quantity of cheese manufactured Auckland contributes 15 per cent. The numbers of stock treated by the company are : Lambs 61,351, sheep, 27,297, calves,(6, cattle 24,561. The decrease in the number of stock slaughtered during the year is accounted for by the operations of a new company in the district, the purchase of fat stock by Southern firms and the shortage of shipping space. The success of the. past season’s business has enabled your directors to make a rebate to the exper cent, on the charges on stocx, butter and cheese handled during tbe year. The total amount allowed on rebates during the past two years will thus be £12,000, which amount would not have been available for distribution in this manner in any company other than one conducted on co-operative principles. If shareholders are true to themselves, they will in future loyally support their own company and secure all the benefits that are due to co-operative effort.

The profit ot the year, after providing for depreciation, is £21,341 Ils 6d, to which is to be added £987 18s Id brought forward from last year, making a total of £22,329 9s 7d, with which your directors propose to deal as follows : —To pay a dividend of 8 per cent. —£9350, to add to reserve fund —£10,000, the balance to be carried forward.