Kaitaia Dairy Co's Review

Northern Advocate, 29 July 1939, Page 2

Kaitaia Dairy Co's Review

lSpecial to “Northern Advocate”! KAITAIA, This Day.

Output for the season was 1952 tons, a decrease t»f 173 tons, or 8.16 per cent., slates the report to be presented at the 38th annual meeting of the Kal-

in i a Dairy Company suppliers. •‘The reduction in output,” the re-

port slates, “resulted from adverse and changeable climatic conditions throughout the year, coupled with a reduction in die number of suppliers. Payout, 'The directors’ report for the previous season indicated an estimated season average per lb. butlcrfat over all grades of 14.780 d., whereas the actual season average payout made was 14.739 d. per lb. butterfal, phis dividend on share capital at 3 per cent, per annum, and representing an additional payout: of .041 d. per lb. butte rfat.

‘•Butter graded for export and in store at date of balance at the end of the season just closed was valued for balance purposes at the guaranteed price for the respective grades. Unsold stock of butter in pats held for local trade at date of balance was valued at 1/41 per lb., less provision for all distribution and selling charges. 'The balance available for distribution, as shown by the Appropriation Account, is £27.755 3/10. which your directors propose be allocated as follows: —Final payment buttorfal tat l.Gld per lb., £27.048 8.-1; dividend at 3 per cent, per annum on non-qualify-ing supply shares, £200; transfer trading reserve, £150; taxation and carried forward, £357 0/9; “The average butterfat payout over all grades for the season will therefore be as follows: —Advance payments, 14.319 d; final payment, 1.81 d.. a total of 16.129 d per lb. With the dividend of .013 d added. the price will be 16.142 d. Fertiliser Account. “Sales of fertiliser and lime for the year amounted to £19,448 1/6, on which commissions amounting to £842 8/9 were earned. This amount has been carried forward as a credit in the fertiliser account. The credit balance in this account now stands at £2831 16/6. “The trading department returns a not profit of £197 12/4 after the payment of rebates to members at the rate of 5 per cent, sales, and amounting to £9lO 0/9. “Nominations for the office of auditor, ether than the retiring auditor, must be lodged at the registered office of the company, Commerce Street, Kaitaia, not later than 14 days before the date of the annual general meeting. “The retiring auditor, Mr W. H. Atkins, again offers his services for the ensuing year. “Retiring Directors.—The two directors retiring by rotation are Messrs. E. R. Bird and C. B. Michie, who, being eligible, offer themselves for re-election.”