DEFERRED PAYMENT OF NEARLY £35,000

Manawatu Times, Volume 66, Issue 186, 7 August 1941, Page 3

DEFERRED PAYMENT OF NEARLY £35,000

To Cheltenham Dairy Company Suppliers BUTTER OUTPUT MAINTAINED AccoYding to the annual report of the Chentenham Co-operative Dairy Co., Ltd., a sum of close on £35,000 is to be distributed among suppliers as a deferred payment for the year ended June 30 last. The 48th annual report records that the company’s output of butter was maintained, the season’s output amounting to 2071 tons 5 cwt. compared with 2002 tons 2 cwt. for tho previous year. With the general co-operation of suppliers the quality has been ■well maintained, the average grade for export being 93.971 points. The balance in the appropriation account available for distribution is £34,735 17s Sd and it is proposed to distribute this amount as follows: To make a further payment of 2.1596 d (being approximately 2 3-lGd per lb.) on the full season’s supply of butterfat covered by shares. Monthly advance payments were made throughout the season on the basis of Is 2d per lb., finest gradn. The average advance payment (over all grades) and the above mentioned further payment will bring the season’s average up 1o approximately Is 4-$d per lb. The total amount of cream collection costs incurred by suppliers individually was £63 14s 7d which represented .004 d per lb. on the total number of pounds of butterfat received bv the company in cream from all sources. The report refers to increased costs arising from circumstances over which the company had no control, tho main factors being the all-round increase costs of benzine, butter-boxes and manufacturing materials. These increased costs represented approximately an eighth of a penny per lb. of butterfat. In regard to cow testing the report states that the company had subsidised Is per cow for the testing of 993 cows with the Cheltenham Herd Testing Association and 2165 cows with the Wcllington-Hawke’s Bay Herd Improvement Association and 2165 cows with the Wellington-Hawke’s Bay Herd Improvement Association. For the previous year tho figures were 500 and 18S0 respectively. The cost of operating the Cheltenham Association was 2s 3d per cow and members who tested were debited with the difference between the cost and the company’s subsidy. On the statistic side, the report records a slight drop in the number of suppliers from 908 last year to 876 fof the year under review. During the season 9,531,400ib5. of cream were received compared with 9,515,4621b5. for the previous season, these totals producing 3,807,3351b5. and 3,791,51 Olbs. of butterfat respectively. From this was manufactured 4,639,0051b5. of creamery butter compared with 4,619,1391b5. for the previous year. The cream grade percentages were: Finest, 88.29 per cent. (87.94); first, 11.37 per cent. (11.44); second, .34 per cent. (.62). Total charges including repairs and depreciation, up to f.0.b., at per lb. butterfat were 2.149 d compared with 2.0203 d for the previous year. The directors who retire by rotation this year are Messrs. J. W. Batchelar and F. Sinclair. For these two vacancies three nominations have been received, namely, Messrs. Batchelar, R. Gu Hamilton and Sinclair.