Waipu Dairy Co.'s Unfavourable Year

Northern Advocate, 11 August 1938, Page 2

Waipu Dairy Co.'s Unfavourable Year

"The season under review has not been a favourable one," states the chairman of directors, Mr D. H. McKenzie. in the report to be presented to the annual meeting of shareholders tf the Waipu Co-operative Dairy Company, Ltd., in the Waipu public hall cn Thursday. August Ui. ■ Owing to a lale spring and exceptionally hot. dry weather in January and February, the supply fell oil 1 very rapidly and did not recover." the report continues. 'Tin butler maimtaeiurcd lor ihe season was 593 tons It! owl 3 111 s. lib., as against ti-14 lons j 0 cwi. 1 qr. 17 lbs. last season, a drop oi .70 tons l(i cwi. 2 qrs. 1(J lbs. The j cream graded at the factory was not ; as good as. last season, and this is re--1 fleeted in the grading of the butter, which was 93.223 per cent, this season, i as against 93.35 per coni, last season. | L 9250 For Distribution. i 1 "Tiie advances for the whole season ; were 1 O', finest. 1 - first, and lid secj , ond. The amount standing in the ApI propriation Account available for distribution is .!c9250 10/10. The average i advance over all grades, less deductions for cream grading under 35 test, ■ is 12.2012 d. Your directors propose to

make a final payment of 2.0341 d. over all butterfat supplied for the season, which wilt make the payout over all grades 14.2353 d., with interest on capita! .042 d added, the final payout over all grades, exclusive of cream carting, being 14.2773 d.

"The plant is in good order and has been well maintained. At the end of the season the whole factory has been electrified, and this should result in reduced running costs. Your directors recommend a dividend of 3 per cent. ,n all paid-up capital at the end of the inancial year.

‘•Messrs. R. F. McKay. G. McLean. R. W. J6hns and H. E. Hewlett retire by rotation, and. being eligible, offer .hemselvos for re-election. Nominations tor the position of director must be signed by two shareholders and the acminee, and must be in the hands of the secretary before or at the meeting. Mr F. L. Gunn. A.P.A. (N.Z.). who has been auditor for some years, also retires and is eligible for re-election,” The factory's operation for the year is summarised ir. the following statistics: — w.6/37. ir»37/3S. <l. d. layout previous year per Iti, build-rat (season averape) 13.3(105 Payout current year per lb. butterfat (advance.) 12.2012 Estimated surplus 2.0341 Total 14.2303 Xu. uf suppliei s 1 tiT pit; l.bs. builenVu frutn cream . 1. Is 1,40 a 1,001, 12uiba. Lbs. i-i't-am receiv'd 3,(i7.5,43;> 2,Sl,S,oo?ltjS. Avi-r.-iRt- but ter fa I test fur cream 35.4 S p.e. 30.72 p.e. 'l’utal ebarpes per lb. lui Uerfa I 2.11 Id. 2. !87d. 1 ,bs. creamery butler made I.113.HI;! 1.320.75.01b5. ( ivei -rjiu creamery butter made 121. s's 121.50 Aver.ape prade nf butler 03.00 113.220 Cream pradiup p.e.— i-'i nest 0 I .SO p.e. ", 1 ,r P 1 p.e. first 31). Mi pa-. -15,24 p.e. Second 1,1~0 p.e. 3.2.0 p.e.