Whangarei Co-op. Dairy Co.’s Year

Northern Advocate, 23 July 1938, Page 7

Whangarei Co-op. Dairy Co.’s Year

] For the year ended June 30, 1938, [the output of the Whangarei Co-op. Dairy Company, Did., was 2833 tons 1.2 cwt. 22 tbs., a decrease of 318 tons 2 ■ qxs L lb on last season. ■ Export -produce unsold at June 30 j was valuer, on the basis of the guariantecd price, with allowance for premiums and deductions in respect of I grade. Stocks of proouce for local ! sale have been valued on the basis of [the price fixed by the Internal Mari' keting Department, with appropriate differentials for grade. A further payment of ,41d, per lb. of butter is being made from the Dairy Industry Account in respect of the period August, 1937, to July. 1938. This will give a payment of approximately Jd. per lb. butterfat. which, at the request of the Primary Products Marketing Department, has been included in the accounts herewith. The appropriation account discloses a surplus of £.61,283'18/11. which includes the estimated supplementary payment referred to above, Dividend. The directors recommend paying a dividend of 2A per cent, on eligible share capital, together with a deferred payment of 25-16 d. per lb. on-all eligible butterfat supplied during the season ended June 30. 1938, plus a further payment of id. per lb. on all butterfat supplied during the same season. both payments to be made simultaneously. The foregoing will give an average payment over all grades of 14.511 d., to which is added the supplementary payment, making a total avei’age payment of 15.011 c). I Messrs. A. C. M. Finlayson and E. S. Tremaine retire from the directorate by rotation, but, being eligible, offer themselves for re-election. Statistics.

Results Analysed. The reduction in supply was due to the unfavourable climatic conditions prevailing during part of the season, and also to the fixation of boundaries by the Executive Commission of Agriculture. The lowering of the percentage of finest cream was caused by the extraordinarily hot and muggy spell of weather experienced during part of the season, the worst known, in the opinion of the manager, for very many years. Some of the cream received daily was very much below that supplied during a season of average weather. The increase, compared with last season, in cost from farm-gate to f.o.b was due to a slight increase in cream collection, owing to the handling of a ieduced quantity of cream and to other small increases in the manufacturing account. These were partly offset by a small reduction in factory to f.o.b, charges. During the season the company earned £353.550. plus the extra 41d. per lb. authorised by the Minister for Marketing. totalling. aproximately, £11,904. and making a grand total for the season of £365,544.

, 1937. 1938. d. d. Payout per lb. butlerlat season average 13.811 15,011 Number of suppliers . 978 928 Tola! charges and depreciation up to f.o.b. at per lb. butterfat 1.762 1.834 Average grade of butter 93.496 93.650 Cream grade percentages— Finesl 64.642 45.084 First 33.455 51.867 Second 1.903 3.049