HIGHER OUTPUT.

Manawatu Standard, Volume LX, Issue 218, 13 August 1940, Page 2

HIGHER OUTPUT.

RONGOTEA DAIRY COY. (From Our Own Correspondent.) RONGOTEA, Aug. 13. The 46th annual report of the Rongotea Co-op. Dairy Coy., Ltd., states: —On February 7 our neighbouring company, Rangitikei, at Bulls, was unfortunate in havingits factory burnt down, and we wore pleased to assist by taking a quantity of its cream the next morning, so that its suppliers suffered no loss of cream on account of the fire. The Rangitikei Company has been treated as one supplier, and the arrangements made have worked exceedingly well and harmoniously to both companies. The output for the year reached 1273 tons, 12 cwt 2 qrs, 14 lb. Of this quantity 183 tons represents the Rangitikei supply, so that our own output shows as an increase of 82 tons for tho year. A wet and cold spring, but a very favourable summer and autumn increased tho output to the above extent. The guaranteed price remained tho same as tho previous year, 14,89 d per lb on all butter exported, plus a premium of .125 d per lb on all butter grading 94 points and over. The average grade of our butter was 94.079 per cent., a very slight decrease on last year, considering the extra late season butter exported. The cream grading percentage, which includes the Rangitikei supply, reflects credit on tho suppliers of both companies. A large quantity of butter was patted for tho Rangitikei company’s local market, hence the big increase in the local sale figures. In respect to the previous year, the estimated season average pay-out per lb butterfat (all grades), which was quoted in the report for that year as 16.2839 d per lb was paid as Stated therein. The valuation basis of the unsold butter export stocks as at June 30, 1940, is at t.lqe price fixed under the guaranteed price regulations in accordance with the grade points allotted to such butter, less the usual charges to f.0.b., and tho butter held for local sales at the price fixed by regulation governing tho local market prices. The appropriation account for the present year shows a surplus of £25,810 12s Bd, which tho directors proposed to distribute as follows :—To make a further payment of 2.6 d per lb on all butterfat supplied throughout the year, amounting to £25,159 13s Id; this payment added to the average advance (all grades) of 13.9653 d per lb will make' the total pav-out for the year 16.5653 d per lb free of all costs to the supplier. _ The directors also recommend that a dividend of 5 per cent, be declared on the paid-up capital as at June 30, 1940, absorbing £421 8s 7d, thus leaving a balance in tho appropriation account of £229 11s from which, social security and income tax payments have to be made. On butterfat the recommended dividend is ,0509 d per lb, and added to the above makes the total average to be ! received in cash 16.6162 d per lb to sliare- ! holders. In accordance with the articles of association, Messrs \V. C. Gloyn, W. A. : Davidson and A. L. Milno are the retiring ; directors. The following nominations have j been received for the three scats; Messrs

\V. C. Gloyn, W. A. Davison, A. Kilpatrick and N. L. Remnant. Mr Milne, having left- the district, did not seek re-election. The thanks of the company are extended to Mr Milno for his past services as a director. Messrs Sim and Brace again offer their services as auditors.

The statistics of the company, with those of tho previous year in parentheses are: Pay-out previous year per pound butterfat (season average), 16.2839 d ; pay-out current year per pound butterfat advance, 13.9653 d ; estimated surplus, 26d ; number of suppliers, 248 (245); pounds of cream received, 5,914,012 (4,714,802) ; lbs. of cream received, 5,914,012 (4,714,802); pounds of butterfat, 2,322,428 (1,849,398) average butterfat test of cream 39.27 per cent. (39.225 per cent.); total charges to ;°- b - per pound butterfat, 1.757 d (1.903 d). For butter making; Pounds of cream, 5,914,012 (4,714,802); pounds of butterfat used, 2,322,428 (1,849,398)- average butterfat test of .cream, 39.27 per ? en t 7 (39.225 per cent.); pounds of butterfat from cream, 2,322,428 (1,849,398) • pounds of butter manufactured. 2,852 - 934 (2,259,769); over-run, 22.842 p.c. (22189 p.c.); average grade of butter, 94X79 per cent. (94.210 per cent.); finest cream grading percentage, 95.302 per cent. (95 per cent); fi rst cream grading percentage, 4.451 per cent. (4.65 per cent.) ; second cream grading per centage .247 per cent (.35 per cent.). ’