Dairying at Newbury

Manawatu Times, Volume 61, Issue 189, 12 August 1936, Page 12

Dairying at Newbury

PAST SEASON IN REVIEW. Following is tho twenty-fifth annual report of the Newbury Dairy Company, to be submitted to suppliers by Mr M. G. Hansen, chairman of directors: — ‘■The balance to tho credit of profit and loss account, £1837 10s 4d, together with £OS 12s 4d brought forward from last year, makes a total of £1903 2s *Sd to be dealt with. The directors recommend that a bonus of 2Jd per lb. be paid on all butterfat received during the year, absorbing £1765 Is Bd, and making an average of 12.G3d, also a dividend of 5 per cent, on share capital, absorbing £4B 3s. “We regret to report that there was a slight falling off in supply as compared with the preceding year, and although the cost of manufacture per ib. of cheese made compares favourably with that of last season, a bigger intake would have produced a more satisfactory result in this respect. The cost of manufacture, administration, and depreciation per lb. of choese was .98d, against 1.0-id for last year, and .S2d for the 1933-34 season. The "cost of transport to grade stores, storage and other charges to ship amounted to .2Gd per lb. of cheese as against .25d for 1934-35. “All cheese shipped during the year, with the exception of that on hand at the end of last season, has been on consignment, prices for that sold to date of balancing being sold at an average of 52s 7d per cwt., London. This return is 7s 5d per cwt. above tho average realisations for 1934-35, the increase being reflected in the higher pay-out for this year. At the close of the season we had 1011 crates of cheese unsold, 397 "of these being afloat and Gl4 at the grade stores and tho factory. The unsold portion was taken in at 60s London, but we have since sold 1414 crates f.o.b. on the basis of 635, London, so it will be seen that our 'estimate of 60s is a reasonable one. The average advance to suppliers during the season has been 9.SBd per lb. of ! butterfat. I “After payment of the bonus and ■dividend there will remain a balance of £B9 ISs, which the general meeting will be asked to deal with. We consider that the above total pay-out of 12.63 d will be regarded as very favourable compared with that of other cheese companies. „ “Suppliers will know that under the guaranteed price scheme, tho Government have thken \pver all butter and cheese produced for export as from the Ist instant, and that under this scheme it is proposed to return to cheese companies a price per lb. of cheese calculated to permit payment to cheese company suppliers of a premium of lid per lb. of butterfat above that expected to be paid to butter company suppliers. While there is some doubt and apprehension as to how the guaranteed prices scheme will work out, we hope, for the sake of the industry, that it will prove beneficial. “The directors wish to tecord the valuable services rendered to the company by the late Mr A. W. Hamlin, who was a member of tho board for many years. Mr S. Knight retires from the board at the forthcoming general meeting, but offers his services for a further term. The meeting will also be asked to fill the seat on the board formerly occupied by the late Mr Hamlin. The retiring auditor, Mr W. Hunter, again offers his services. We desire to express our appreciation of the services rendered during the year by the factory manager (Mr W. L. Krivan), his assistants, and the secretary (Mr E. B. Jennings).’’ Statistics for the past season are as follow: —Milk received, ’ 3,371,0151 b.; average test of milk, 4.57; butterfat received, 154,0461 b.; cheese manufactured, 1723 tons; yield of cheese per lb. of butterfat, 2.51; lb. of milk per lb. of cheese, 8.71; butterfat in whey cream sold, 10,4371 b. Cost per lb. of cheese: Manufacture, .7Gd; administration and depreciation, .22d; transport, storage and other charges to ship, .26d; total, 1.24 d. Average grade of cheese exported, 91.50; average shrinkage of cheese for which account sales to hand, 2.05 per cent.