KUKU-MANAKAU COMPANY.

Manawatu Standard, Volume LVIII, Issue 227, 24 August 1938, Page 4

KUKU-MANAKAU COMPANY.

INCREASED PAYMENT. LEVIN, Aug. 23. The report submitted at the annual meeting of the Kuku-Manakau Cooperative Dairv Co., Ltd., held to-day, disclosed that the average payment tor butterfat supplied for butter during the past season was 15.33 d a pound, as against 135 d for the previous year. For butterfat supplied for. cheese the payout over the season averaged 17 id a pound, compared with last year. Blitter produced totalled 808 tons lcwt 501 b, an increase of 152 tons over'last year. A large proportion of the increase was due to the fact that the company manufactured 82 tons for tne Rahui company while building work was being carried out at that company’s factory. Up to January 29 last 181 tons 9cwt 721 b of cheese had been manufactured, but then the cheese factory was destroyed by fire and it was decided to discontinue activities in this section, as the number of cheese suppliers was. not large enough to warrant rebuilding the factory. The chairman of directors (Mr KG. Wall) said the largest question of the year was the suggestion that the company should merge with Levin, which had arisen when it was calling tenders for extensions to its factory. Levin wanted to give £3200 on a working basis for the company s assets, which were worth £IO,OOO, and that amount would bring the shareholders into the Levin company with a capital of only about-10s a share. As a minimum share capital of £1 was required, the merger could not be recommended. Thus the proposal ended there and the company would now pro-

ceed with the extensions to its factory. A ballot for resulted m the northern -divisionand Mr F. H. Monk for the middle division.