Dairying at Rongotea

Manawatu Times, Volume 61, Issue 190, 13 August 1936, Page 5

Dairying at Rongotea

DIRECTORS’ ANNUAL REPORT

The directors of the Eongotea Co-op Dairy Company report.as follow on the year’s working:— “The output for the season reached 10G4 tons 2 qrs. 22 lbs., being an increase of 9-1 tons on the previous year. Climate conditions throughout the year were steady insofar that there was no excessive spring tlush and yet no continued drought. The hign quality ol our butter was maintained turougnout the year and with the assistance of suppliers iu the care of cream wo shouio uot have any trouble in collecting th< premium ou quality .0 be paid under the guaranteed prices proposals. The average butter grading was 91.30. This includes winter butter. During the past year the Executive Commission ot Agriculture made an investigation ot tho accounts of the various companies operating throughout tho Mauawatu and in its report our company received very favourable comment, particular!} as to our iinancial position. On the ad vice, and at the request of tho Execu tive Commission, and with tho assistance of its members, the negotiations between the Makowhai Dairy Co., Ltd., and this company were completed, and the Makowhai cheese factory was closed down iu April last and the supply transferred to our company as a whole. ‘ ‘ While the costs of manufacture are slightly* higher than last year yet the costs of cream collection are slightly lower and in the total costs to f.o.b. there is very little difference with the comparison of the previous year. Details of each item of expenditure will bo fully explained on the day of the annual meeting. Market prices have shown an improvement on tho previous year which is reflected in tho payout made to suppliers. ‘ ‘ The average advance for the year was 10.07 d per lb. butterfat including all grades of cream. “The directors now proposo to make a further payment of 2id per lb, on all butterfat supplied throughout tho year. This deferred payment is higher per lb. butterfat than the amount per lb. if worked out on the balance-sheet figures, but as we have made sales in excess ol the valuation for stock-taking purposes, we have increased tho payment accordingly. The payment added to the average advance will make an averago payment of 12.57 d on all butterfat supplied, free of all costs to the supplier. “The directors also recommend that a dividend of 5 per cent, be declared ou the pc id-up capital as at June 30, 1930 The dividend added to the payout will make an average for the year of 12.61 d to shareholding suppliers. “In accordance with the articles of association, Messrs Duke and Curran

are the retiring directors. Air. Curran having sold his farm is not seeking reelection. The following nominations have been received for the two seats:— Messrs J. Duke,, C. S. Hunt, A. L. Milne and E. C. Print.” , Table of quantities, etc.: —Butterfat received, 2,9445,485; butter manufactured, 2,383,438; over-run, 21.80 per cent.; average cream test, 39.93 per cent.; costs per lb. butterfat: Manufacturing, transport, storage, overhead expenses and depreciation, 1.508 d; cream collection, including depreciation, .229 d; finest cream grading percentage, 94.57 per cent.; lirst cream grading percent age,'5.26 per cent.; second cream grading percentage, .17 per cent. The costs aro calculated at per lb. butterfat and include all costs from farm to f.o.b.