PRODUCTION AND FINANCE

Northern Advocate, 5 July 1928, Page 8

PRODUCTION AND FINANCE

DAIRY COMPANIES REPORTS. RECORD MAKE AT MAUNGATAPERE, At the annual meeting of shareholders of the Mauugatapere Co-operative Dairy Company Ltd., to be held on July 20th the following annual report will be presented by the chairman, Air J. H. Hayward:—

In presenting this, the twenty-first annual report and balance-sheet for the 12 months ended April 30th, 1928, the directors , are pleased to report that the output of butter exceeded SIS tons, the largest amount that this factory has over produced in any one year. The butter manufactured show's an average grade of 92.775.

Directors: —Under the Articles of Association, Messrs J. H. Hayward, R. Feaver and F. G. Watson retire by rotation, who, being eligible, offer themselves for re-election.

Auditor. —Air A. L. Pike, F.P.A. (XZ.) offers himself for re-election. Manager,—Air R, R, Pringle has been appointed factory manager for the coming season. Dividend. —The directors propose payment of a dividend at the rate o*‘ 32 per cent, per annum on share capital.

ANNUAL SIJMAfARY. Number of cream suppliers, 163; pounds of cream received, 2.415,318; pounds of butter-fat produced: Grade 93, 290,610.0; Grade 90, 629,565.1, Grade 88, 39,180.9; Grade 86, 1.456.7; Total, 960,812.7; pounds of butter manufactured, 1,162,193, (518 tons 11 cwt 2qrs 251bs); over-run, 20.959 per cent; average test of cream, 39.779 per cent; highest test of cream, 5! per cent; lowest test of cream, 26 per cent; collection of cream per lb. of butter-fat, .624 d; cost to manufacture one lb, of butter, including boxes, £1448 9s sd, and depreciation, £399 6s, ,877d'; cost to market one lb. of butter, F. 0.8. Auckland until soH, 1.782 d; average price realised for butter sold, local and shipments (for which sale return accounts received) and butter on hand, estimated to produce not less than 160/ per cwt, 17.336 d; average price (all grades) paid' to suppliers per lb. butter-fat: Advance payment, 15.1 Kid; advance payment (with deferred payment added), 16.989 d; advance payment (with deferred payment and, cream collection added), 17.614 d.

AIAUNGATUROTO. SLIGHT DECREASE IN OUTPUT, The annual meeting of the Afaungaturoto Dairy Co. Ltd., is set down for July 25, 1928 when the chairman of directors, Air Fred Cullen, will submit the following report:— Your Directors have pleasure in presenting the 26th annual balancesheet and report. Review of the year.—Two factors stand out for the season just closed; first and foremost was the long, continuous dry spell of weather experienced from early November, 1927, to late February, 1928; consequently, the supply suffered in quantity, otherwise our output for the season would have surpassed the record established last year; secondly, the splendid conditions that have prevailed since the •■drought and the wonderful recovery made have resulted in bringing the output to within 10 tons lOcw.t 941bs of last season. Supply during the year.—The total output for the season was 340 tons 12cwt 311bs; 192 suppliers forwarded 622,669 lbs of hutter-fat, from which was manufactured! 762,9751hs of butter, made up as follows:—Finest, .)52,0601b5, equal to 76.5 per cent; first grade, 163,9471b5, equal t° 21.1 per cent; second grade, 16,9651b5, equal to 2.1 per cent.*

Prices:—The following prices per lb of butter-fat were advanced to suppliers during the season: June, Ist grade 1/3, 2nd grade 1/2; July, Ist grade 1/4, 2nd grade 1/3; 'August, Ist graxle 1/4, 2nd grade 1/3; .September, Finest 1/54, Ist grade 1/5, 2nd grade 1/4; October, Finest 1/4, Ist grade 1/3J, 2nd grade 1/24; November, Finest 1/4, Ist grade 1/34, 2nd grade 1/21; December, Finest 1/2|, Ist grade 1/2, 2nd grade 1/1; January, Finest 1/3, Ist grade 1/21, 2nd’ grade l/H; February, Alareh, April and May, Finest 1/4, Ist grade 1/31, 2nd grade 1/21. The average -price paid was 15.42 d per lb. With the exception. of 282 boxes sold locally the whole of the butter manufactured was consigned to the United Kingdom. Shipments afloat amount to 1386 boxes, and have been valued at 1/4A per pound, f.o.b. Butter in freezer amounting to 373 boxes has been valued at 1/5 per pound f.o.b. A'our directors propose making a further payment, available for the annual meeting, off lid per pound on all butter-fait received during the season thus brirAtig the payment up to 1(5.67d per po^Ond.

Although the phst year has proved a hard amdl anxioute time for the board in handling the company’s produce, insomuch that :it the commencement of the season enquiries were being made for selling f.0.b., your directors decided to eoiwign, and are pleased to report thajt satisfactory results alive been obtained, which compare very favourably with any other factory selling u}nder similar conditions. Quality.—Adverse weather conditions did very little to interfere with the grade of our butter, and the grading throughout the season was an ex-

(.-optionally fiiU' j>crl‘f>iu a im-f , showing an average of 93 points during the grading season. For this the manager wishes to thank the suppliers for their eo-operation in supplying" a good sample of cream. Cream Carting. —After eareful consideration, your directors have decided to run a daily service on all the main roads, with their own lorries, and also on any .by-roads where the supply will warrant, London Prices. —The usual fluctuations have taken place on the London maket and the prices received by the company have varied between 152/ and 174/ per cwt.

Herd-testing.—.Mr H. B. Wallace submits the following figures, as a result of testing:—During the season IfifiO cows were tested at an average cost of 1/S.osd per cow’; the average cow gave for the season 155.741.bs of fat m 165 (lays; the average fat per day per cow was .941bs; the highest herd average, 24 cows, averaged 298.22 lbs of fat in 27fi days; the lowest herd average, 8 cows, averaged 75.461bs fat in 14fi days; the best eow gave for the season 422.011hs fat in 300 days; the worst eow gave for the season 53.701bs of fat in 150 days. It is satisfactory to note that a definite stimulus has been given to herdtesting as th*e result of continued propaganda over the past few years and the Government’s recognition of its importance, as indicated by the provision of a grant of £BOOO for one year to encourage dairymen to have their cows tested for five months or over, this enabling us to claim the subsidy. Having tested U><>o cows, we can claim a subsidy on 723 cows. Air Wallace will be in attendance at the annual meeting and will be pleased to give his report and answer any questions on this important branch of the industrv.

'Motor Department. —This branch of the service continues to produce satisfactory results, and your directors desire to place on record the valuable services rendered by Air Geo. Taylor during his five years’ service in this department. His resignation has been received with regret, and Mr Owen Drover, who is an experienced motor mechanic of outstanding ability, has been appointed to the vacancy. We look forward with pleasure to a continuance of the good results of the past.

Finance. —The company is in a very sound financial position. Fertilisers. —During the season the company purchased for suppliers no less than 350 tons of basic slag. Farmers who placed their orders when the circular was sent out received the benefit of price. We would emphasise the desirability of placing orders early in future to enable us to obtain the best terms possible.

Election of Directors. —The directors retiring by rotation are: Alessrs Fred Cullen, A, Newitt, E. O. Evans. These gentlemen, being eligible, offer themselves for re-election.

Msmaggr and Staff. —AYe again wish to compliment the manager and staff for their work and eo-operation during the season.

A t t e n d a n e e. —Numerous c o n f o r on c e s of undoubted interest have been attended during the season, and the hope is expressed that every member will be personally represented at the annual meeting, to take part iu any discussion for the benefit of the industry. ANNUAL SUAfAfARY. Number of suppliers, 192; pounds of butter-fat produced, 622,669; pounds of butter manufactured, 762,975; pounds of butter made per lOOlhs butter-fat 122.53; cost of cartage per lb butter-fat. .67d; average price advanced per lb of butter-fat, 15.42 d; cost of manufacturing per lb of butter, l.Ofid; price paid per lb of butter-fat, including cost of transit and manufacturing, 17.39.

“In spite of all the credit that is given for the necessities of life, who ever heard of anyone getting credit for pleasure? We have to pay for all our pleasure, cash down on the nail,” said Mr E. Mulvanah, speaking on the credit system in the Napier City Council Chambers the other night.

“If people passing along a highway saw a farmer sitting at his benches scraping the codlin moth out of his apples they would think he was fit for a mental hospital,” said a Christchurch doctor. “Yet the Health Department is doing a similar thing in scraping the codlin moth out of the teeth of children, instead of going back to the cause at ( the root of it all, as the farmer does. They should go back to before the children are born and see that their mothers get proper food, and then see that the children when young get plenty of food which is rich in vitamins, to enable the body to build sound teeth.”

“We cannot forget that as time goes on and generation succeeds generation, the world is changing, and the ideals of the Dominion in relation to the Mother Country must inevitably undergo a change also,” stated the Governor-General (Sir Charles Fergusson) in the course of his address at the civic reception in Waipukurau last week (says the “Tribune”). “Wo must be careful to keep up the old traditions and see that the future generations hold the same ideals about the Mother Country as did the past generation. Visits by the Governor-General to the schools bring home to the young mind something of this country’s allegiance to the King.”