MAHARAHARA DAIRY COY.

Manawatu Standard, Volume LXI, Issue 204, 30 July 1941, Page 8

MAHARAHARA DAIRY COY.

Ihe report presented at the annua] meet lr >K of the Maharahara Dairy (,'o. expressed satisfaction in the fact that after operations extending; over 25 years the company continues to make progress as evidenced by the excellent financial position disclosed. After reference to the estimated and actual pay-outs per pound of bulterlat last year (13.93 d and 17.86 d, respectively), the report stated in respect of the current sea sen: Ihe valuation basis adopted for dairy produce unsold at ba.ancc date is for cheese and butter in cool stores for export at the guaranteed price as graded, and cheese in factory for local sale at 8.35 d per lb (all charges and recoveries having been taken into account in both instances); the estimated season average pav-out which should result at the values adopted is 13d. The balance in the appropriation account is 16291 and a distribution at the rate of 4d per lb of butterfat is recommended, thus making the season average pay-out Is 6d per lh, first grade, the balance to be carried forward to meet taxes. Tbe excellent results disclosed had in a great measure been made possible by increased production. In regard to the demand for further increased cheese production, the directors hoped to have the co-operation of suppliers | and the management. The report and balance-sheet were adopted. on the motion of the chairman (Mr J. Gildca) and Mr R. Reid. Mr ]>. \Y. McDoncll and other suppliers congratulated the directorate on the company's satisfactory position. The retiring directors, Messrs G. J. Hawkins and R. Reid, were reelected unopposed, and Mr W. O. Harrington was re-efected auditor. The directors later elected Mr Gildca to the position of . chairman for his 26th successive term.