RONGOTEA DAIRY COMPANY.

Manawatu Standard, Volume XLI, Issue 8713, 28 October 1908, Page 7

RONGOTEA DAIRY COMPANY.

ANNUAL. REPORT.

The fourteenth annual report of the Rongotea Dairy Company, which has just come to hand, shows a very satisfactory state of affairs. It is as follows : —"Although the volume of business for the past year is nearly £6300 less than 1905-7, the profit for the year compares favourably with other seasons. The prospects of the market in Great Britain are at present satisfactory; prices continue to rule at a payable figure. The opening of the season here is the best we have had for years, and there is every probability of a large supply of milk, which wo hope will help to counteract the ill-effects of the drought at the earlv part of this year. The thanks of the company aro due to the Glen Oroua Dairy Company, Ltd., for the satisfactory manner in which they carried out the handling of our milk during tho time the factory was closed for repairs to the boiler, etc. The balance of the profit and loss account amounts to the satisfactory sum of £868 Is lid, and wo recommend that it bo distributed as follows:—A dividend of 6 per cent, on paid-up capital, a bonus of id per pound of butter-fat supplied during the year by suppliers holding shares m tho capi- | tal of tho company, to write off for do- ; preciation the sum of £255 18s 7d, and carry the balance to the credit of the reserve account. During the year we re \ ceived 372,863.361b of butter-fat, and manufactured 410,6691b of commercial butter. Milk suppliers have been paid £16,773 13s lOd. The following prices were paid for butter-fat during the year : September and October lOd per lb, November 10id per lb, December per lb, January 10Id per lb, February lid nor lb, March Is per lb. April lid per lb. May Hid per lb, June Is per lb, July and August Is Id per lb. Average for'three months. 10.003 d; nine months, 11.335 d; 12 months, 10.796 d. The retiring directors in accordance .with the articles of association are Messrs C. Clavey and J. Cockburn. Mr Clavey does not seek re-election. Mr Cockburn being eligible for re-election places his services at your disposal for another term. _ Mr F. 'Richmond has resigned his position as a director of the company owing to leaving the district. Mr G. J*. Scott retires

from the position, of auditor, but offers himself for re-election." The expenditure for the year was £20,540 10s Id, of which the principal items were: Butter-fat £16,773 13s lOd, shipping charges £881 4s '6d, fuel £354 4s Bd, maintenance repairs and renewals £344 18s lid, boxes £344 lis Bd, salaries and wages £809 2s 4d and commission £253 6s 3d; £180 had been paid in dividends, £259 2s 3d in bonuses, £233 10s was allowed for depreciation, and £272 19s added to the reserve fund. The total receipts were £21,408 12s, including a balance of £945 lis 3d carried forward from last year. The principal items were: Consignments £12,631 lis 2d, colonial sales £8539 16s, balance in hand £868 is lid. The liabilities amount to £4877 19s Id, to which is added' a profit and loss account balance of £868 Is lid, making a total of £5746 Is. Tho assets totalled £5746 Is.