Dairy Company’s Year

Manawatu Times, Volume LIV, Issue 6626, 13 August 1931, Page 4

Dairy Company’s Year

NEW ZEALAND CO-OPERATIVE. OUTPUT AGAIN INCREASED. A substantial increase in the company’s output is roported by tho directors in the 12tli annual report of the Now Zealand Co-operative Dairy Company, Limited, to bo presented to the shareholders.

The outputs of tho commodities manufactured by the company for the past three years are as follow: —

Continuing, tho directors state that tho high standard of quality of the the company’s products had been maintained during tho season and every opportunity will bo taken to obtain stilt bettor results in the future. Tho policy of consigning butter and cheese for overseas markets has been continued, with tljo result that relatively stable prices have been maintained throughout the season.

The New Zealand Dairy Finance Company, Limited, has again boon of , valuablo assistance to the parent comcany. Suppliers continue to take advantage of tho rural intermediate credit scheme, and since tho inauguration of tho scheme advances from this source total £224,559. Tho following figures briefly summarise the past season’s operations:—Milk receivod for butter making, 214,900,7221b5.; milk received for cheese-mak-ing 185,259,3951b5.; cream received for butter-making 124,415,8211b5.; total butterfat for butter-making 59,394,2311b5.; total butter made 72,328,277; over-run 21.77 per cent. Total butterfat used for cheese-making 7,456,2411b5.; total cheese made 18,791,0391b5.; casein made 2,336,5051b5.; milk powder made 11,240,0921b5.; condensed milk made 34,S47lbs.

The average price advanced for butterfat for butter-making during the season was 10.543 d per lb. The total average price for butterfat of superfine grade will bo 12.363 d. lu addition the payments made by the company for subsidy on cream cartage and railage on croam amounted to 0.206 d, thus further increasing the average price at central factories for superfine butterfat to 12.569 d. Cheese factories will, in accordance with their respective manufacturing results, receive varying payments. AH prices stated aro conditional upon unsold produce realising at sale the value placed upon it for balance purposes.

Casein suppliers have, in addition to butter payments, received an avorago premium of 1.194 d per lb. butterfat. They will also be credited with a further amount per lb. butterfat share capital when stocks on hand have been sold.

Milk powder suppliers have, in addition to butter advance, received tho usual premiums for skim milk. The amount to the credit of their profit and loss accounts for the past season will not be dealt .with until a quantity of powder equivalent to the season's “make” has been realised and the final amount available for credit to share capital is definitely known.

MANAWATU RELIANCE COMPANY’S REPORT,

The report to be presented to the annual meeting of shareholders of the Manawatu Reliance Co-operative Dairy Co. Ltd., covering operations up to

Juno 30, 1931, reads: —“The supply and output for the year ■were as follow: The quantity of cheeso manufactured, green weights, was 240 tons, 7 cwt., 30qrs., 241b5.; the quantity of cheese manufactured, grader's weights, was 235 tons, 18cwt., 3qrs., lolbs.; the averago shrinkage from green weights to marked weights was 1.55 per cent.; the averago shrinkage from marked weights to sale woights, for what w'e have account sales for, was .804 per cent.; tko total milk received for cheesemaking was 4,941,4551b5.; the total butterfat received for cheese-making, 205,202.641b5; averago test, 4.24; average yield of cheese to each pound of butterfat, 2.64; grader's weights; average pounds of milk to each pound of cheese, O.Ollbs.; average' price paid per pound of butterfat for cheese-making, 9.84 d. At June 30, 1931, there were (580 crates unsold, and for balancing purposes these 1 were taken into account at 00s per cwt. for white, and 02s per cwt. for coloured. Tho balance to the credit of the appropriation account is £1286 Is 7d, which is made up of a balance of £1490 brought forward from the previous year, to which has to bo added £lB 7s 6d, being reduction of directors’ fees, and £555 0s 6d transferred from profit and loss account, making a total of £2099 Bs, and from which fias to be deducted final payments last year, £7Ol 10s 4d, cheese overvalued, £sl 10s Id, leaving a balance of £1286 Is 7d. Your directors recommend a further payment of jfd per lb. on butterfat used for cheese-making, which will absorb tho sum of £O4l Ss lid, making a total payment of 10.59 d for the year, and leaving a balance of £644 12s Sd to be disposed of as the meeting may decide. The following directors retire: Messrs D. G. Moore, J, H. Lover and S. Graham, and being eligible, offor themselves for re-election. The auditor, Mr. E. Davis, also retires, but offers himself for re-appointment.”

1928-29. 1929-30. 1930-31 Tons. Tons. Tons. Butter ., .. 27,195 32,4.51 32,289 Cheese .. ... 5,949 6.563 8,389 Casein .. 714 1,200 1,043 Milk powder *1,341 4,383 5,017 Condone, milk 934 — 16