Kaipara To Pay Out 16.662d. For Butterfat

Northern Advocate, 5 July 1939, Page 5

Kaipara To Pay Out 16.662 d. For Butterfat

[Special to “Northern Advocate”l AUCKLAND. This Day. The output of the Kaipara Co-op. Dairy Company for the year ended j May 31, was 10221 tons a decrease of I 173 tons, or 9.62 per cent. The decline was accounted for chiefly by the poor season experienced. The quality of cream supplied was: Finest, 83.51 per cent; first. 16.19 per cent: second. 0.40 per 'cent. In the previous season it was: Finest, 77.90 per cent; first, 21.47 per cent; second. C. 63 per cent. Butter gradings for the season were; Finest. 92.48 per cent; first. 7.52 per cent; with an average of 79.04 per cent grading 94 points and over. In the previous season-gradings were: Finest, 91.44 per cent; first, 8.56 per cent, with an average of 76.61 per cent grading 94 points and over. The premium of id per lb. above the guaranteed price for buter grading 94 points and over represented £1433.

The pay-out in the season under review had been; June-July, finest, 121 d; August to May, finest, 14d, first and second id and Id less respectively—an average of 13.857 d per lb butterfat. Bonus Distribution. The appropriation account shows a credit of £27,743, which, after providing £904 for dividend at the rate of 4 per cent per annum on paid capital at August 31, 1938, will allow the following further payments—lid June-July, and 2.16 d, August to May, ever all grades. This v/ill make an average payment of 16.007 d per lb. butterfat over all grades for the whole season.

The dividend on shares represents G.072d; rebate on purchases. 0.224 d, making the net payment 16.303 d, and, with cream cartage added, 0.359 d makes the total payment equivalent to 16.662 d per lb butterfat. In the previous season, the estimated average payment wac 14.272 d. which was raised to 14.754 d when the accounts were finally completed. The payment of June and July of lid per lb and Id on the August to May butterfat will bo made on July 20 and the balance on August 20, Big Trading Pre-fit, Increased business was put through the trading department and the profit permits of a rebate of llgd in the lb. on all purchases. A resolution proposing future elections of directors on the ward system is to bo dealt with at the annual meeting at Helensville.