APITI DAIRY COY.

Manawatu Standard, Volume LX, Issue 215, 9 August 1940, Page 2

APITI DAIRY COY.

(From Our Own Correspondent.) APITI, Aug. 8. The 45th annual report of the Apiti Dairy Coy., Ltd., states that the output for the season was 287 tons 7 ewt. 53 lb., being an increase of 13 cwt. 86 lb. on last year. The estimated season average payout quoted in last year’s report was 15.827c1, and" this amount has been paid to suppliers. All unsold butter on hand at balance date has been valued at the Government guaranteed price (allowing for charges). The estimated average pay-out per pound hutterfat to bo made this season is 16.1095 d. The directors recommend that the surplus available in the appropriation account bo distributed as follows:—To make a deferred payment of 2.67 d per pound hutterfat supplied for season, £5851 14s Id; to pay a dividend of 11 per cent, on paid-up .share capital, £59 12s; to carry forward a balance, £l4 17s. 2d; total, £5926 3s 3d. The directors retiring by rotation aro Messrs L. S. , Gould W. McKay and B. Waterson, and Mr D. W. Hogan has resigned from the board. The nominations received as at' July 20 are Messrs I. S. Gould, W. McKay. B. Watcrson- and ■ J. D. Kilgour. Mr Kilgour having agreed to continue the term of office held by Mr Ilogan, it wHI now not be necessary to.hold an election. Mr A. 11. Maguire, auditor, retires and oilers himself for re-election. The company’s statistics, with the figures for last year in parentheses, are:—Pay-out previous year per pound hutterfat, 18 827 d • pay-out current year per pound hutterfat advance, 13.4395 d, estimated surplus’ 2.67 d: number of suppliers, 98 (103) •’ pounds of cream. 1,359.169 (1,368 842) • pounds of hutterfat. 525.996 (528’804) - average test of hutterfat, 38.69 (38.77) : total charges including repairs and depreciation up to per lb. hutterfat, 25513 d (2.59 d): total pounds creamery butter made. 643,717 (642.1751; over-run crcamcrv butter made, 22.38 (21.43 d); average grad'o of butter. 93.50 (93.827). Cream grade percentages: Finest, 91.03 (90.30); fir«t 8.46 (9.16); second, .51 (.54). " ’