Cheltenham Dairy Company

Manawatu Times, Volume 68, Issue 161, 9 July 1943, Page 6

Cheltenham Dairy Company

DEFERRED PAYMENT OF £34,472 Following the annual meeting of shareholders of the Cheltenham Co-op. Dairy Company this month there will be a distribution of a deferred payment amounting to £34,472 13s 4d which will bring the season’s payout up to 1‘6.7792d per lb. of butterfat. This yeai's accounts are balanced for a period of 11 months due to a decision to end the company’s year on May 31 instead of June 30 as has been the practice in the past. The output for the period amounted to 1566 tons IScwt. compared with 1817 tons 15cwt. for the previous 12 months, a decrease of 250 tons 17cwt. This decline is due mainly to a reduction in the number of cows milked, while other contributing factors were the dry weather in the late summer and early autumn, the effects of zoning and the reduced supply received from the Glaxo Company. Many suppliers had gone out of dairying owixig to the shortage of labour. The average advance payment over all grades for the season was 13.9005 d per lb. and the deferred payment will equal a further 2.8757 d per lb. The cost from farm to f.o.b. was 2.2114 d per lb. butterfat, an increase of .0122 d on the previous year, due in the main to the decrease in output. The pig. farm showed a loss of £7l 18s 2d after allowing for £lO9 19s for depreciation in the farm account. A total f 431 (469). cows were tested under the iipany’s organisation, while those testeui under the WellingtonHawke’s Bay Herd Improvement Association totalled 1645 compared with 2632 last year. Messrs C. G. C. Dernier and N. C. Jensen, retiring directors, have been returned unopposed.

As the accounts this year mark the flOth anniversary of the company the golden jubilee is to be celebrated by the publication of an historical booklet covering the history of the company. The statistics relating to the activities of the company reveal that the number of suppliers dropped during the year from 828 to 780. Butter manufactured amounted to 3,509,5701b5. compared with 4,071,804 lbs. made last year. The average grade of the butter was 93.653 compared with 93.730 last year.