Dairy Industry

Manawatu Times, Volume LIV, Issue 7240, 21 August 1933, Page 10

Dairy Industry

MANAWATU RELIANCE COMPANY The fourteenth, annual meeting of suppliers and shareholders of tho Manawatu Reliance Co-operative Dairy Co., Ltd., was held on Friday afternoon, Mr. S. S. McCulium (chairman of directors) presiding. “The supply and output for the year,” stated the report, “are as follow: The quantity of cheese manufactured, green weights, was 193 tons, Ocwt, 1 qr, 241 b; the quantity of cheese manufactured, grader’s weights, was 189 tons, llcwt, 3qrs, 191 b; the average shrinkage from green weights to marked weights is 1.78 per cent.; tho average shrinkage from marked weights to sale weights, for what we have account sales, is 1.12 per cent.; the total milk rc reived for ekeesemaking was 3,SSG,5851 b, and the total butterfat received for cheesemaking, 166,5-40.7 Gib; the average test was 4.25; the average yield of cheese to each pound of 'butterfat was 2.55, grader’s weights; the average of milk to each pound of cheese is 9.151 b, grader’s weights; the average price paid per pound of butterfat for cheesemaking was 8.13 d. At Juno 30, 1933, there were SGG crates unsold, and these have been valued at 50- per cwt. Tho balance to tho credit of the appropriation account is £1520 3s lid, and the directors recommend to be disposed of as follows: (1) In making a further payment on butterfat used for eheesemaking, made up as follows: id

for December, ljd for February, 3d for March, 2Jd for April, lid for May, and id for June, together with a bonus of 21 r per cent, on the final payment. This will absorb tho sum of £502 3s Id and will make an average payment of 8.86 d for the season; (2) in making an allowance of £l5O for depreciation of plant and machinery; (3) this will leave a balanpo of £B6B Os lOd to be disposed of as the meeting may decide.”

The chairman directed attention to several points in the accounts. The subscribed and pajd-up capital was the same as last year and the suppliers’ butterfat deductions account remained unaltered at £565 2s Bd. Although sundry creditors were £IOS more than last year, that wms accounted for by £172 still being owing of the cost ot the automatic stoker and its installation, On tho assets side of the balance sheet, plant and machinery had increased by £155 12s Gd. Cheese unsold had been valued at 50s per cwt. London. Latest reports showed prices at 49s and 51s and unless there was an increase in prices, there would be no further payment. It had been unfortunate that when coloured cheese was at a premium (up to 10s per cw r t. over white) that Rangiotu cheese arriving Home then was mostly white. By the time the make had been changed, the premium had vanished. Had they been able to gauge the market better, the company’s payout would have been equal to any of the other factories in the district. Of course, it was impossible to anticipate the trend of demand. Weather conditions had resulted in a loss of milk and reduced production compared with last season. The cost per lb. of butterfat to f.o.b. (Wellington) wms 3.49 d which compared very favourtbly with 3.918 d last season. The directors had used every means to keep factory costs as low as possible. Although there wms only a difference of 4 tons, lewt in the quantity of cheese made compared with last year, the cost or fuel had decreased by £72, duo to the use of the automatic stoker. The chairman. appealed for an increased supply as the factory could handle 11 times the present output which would mean reduced overhead expenses and increased payments to suppliers. The thanks of shareholders were due to the manager (Mr. Chapman) and staff and to the secretary (Mr. A. E. Hansford) and staff, for the way they had looked after the interests of the company. Mr. McCulium also thanked co-directors for co-opcration and support during tho year. Resolutions were passed dealing with the appropriation account as proposed, also the balance of £BGB 0s lOd. Messrs E. L. Russell, S. Graham and J. H. Lover, the retiring directors, wore re-elected and the latter was elected chairman for tho ensuing year, Mr. McCulium not seeking reappointment. Mr. R. Davis wms reappointed auditor. Votes of thanks were accorded the retiring chairman, secretary (Mr. A. E. Hansford), factory manager (Mr. H. Chapman) and staff for their services.