TUI CO-OP. DAIRY COY.

Manawatu Times, Volume LII, Issue 3614, 15 September 1927, Page 9

TUI CO-OP. DAIRY COY.

ANNUAL MEETING. .. The Tui Co-operative Dairy Coy. held its annual meeting in the Public Hall Glen Oroua on Tuesday evening, Mr. F. C. Fariner (chairman of directors), presiding over a large attendance of suppliers. Mr. Farmer, in moving the adop. tion of the report and balance sheet, congratulated the shareholders and suppliers on the financial position of the Company notwithstanding the fact that they had had twelve months control in which the advances were not- on a par with past years. . The outlook for the coming year was exceedingly bright, cheese at the pro r sent time selling for 100 s. on the London market and the price was firm. The compaily had sold its output of cheese up to the end of November which would permit the company to advance from Is. Gid. to Is. 7d. per lb for butterfat. The supply during the forthcoming season owing to the mild winter and an increase in the number of suppliers would reduce the cost of manufacture. Mr. J. P. Larsen seconded the adoption of the report and balance sheet. ■ Tlie only retiring director, Mr. J. P. Larsen was ! re-elected. In his annual report the chairman stated that during the past season the company handled the equivalent of ,195.3431 b. of butterfat , out of which it manufactured 236 tons of cheese. The average test of milk received was 4.05 per cent, and the average yield was 2.701 b. of cheese per lb. of butterfat. The average advances made to suppliers during th o year were Is. 2. 39d. per lb. butterfat and there remained standing to the credit of the Profit and Loss account £923 out of which the Directors propose to pay a further lid. on butterfat supplied in September, 1926, and id. per lb. on butterfat supplied in October, November, December. 1926, and January and July, 1927, and. a further payment of 2id. per lb. on butterfat supplied in ’ February, March, April, May and June, 1027. .These payments will absorb the sum of £BSO.

All cheese consigned through New Zealand Dairy Produce Control Board has, for balanceing purposes, been valued at 7id. f.0.b.. which at present values should bo rather a conservative estimate. ' When the final account sales of tho Board come to hand, it may be found that i t will be possible to make a further payment.