COLLINGWOOD DAIRY COY., LTD.

Nelson Evening Mail, Volume 76, 29 July 1941, Page 2

COLLINGWOOD DAIRY COY., LTD.

YEAR'S OPERATIONS REVIEWED The annual report of the Collingwood Co-operative Dairy Company, Ltd., to | be presented to the annual meeting of shareholders on Monday, 11th August, ! states that, in respect of the previous year the estimated average pay-out was ! 15.69 d per pound for butterfat (all i grades); 15.63 d being the actual season I average pay out which was finally made. In respect of the current year the valuation basis adopted for butter unsold at balance date is the guaranteed price less charges, and the estimated season average pay-out per pound for butterfat (all grades) which should result from the disposal of unsold butter at the values adopted after providing for Income Tax. Social and National Security Tax is 15.693 d. The total quantity of butter manufactured during the season was 306 tons 6 cwt 2 qrs 4 lbs as against 264 tons 7 cwt 3 qrs 4 lbs the previous season; an increase of 41 tons 18 cwt 3 qrs. The average grade for the season was 94.429, as against 94.424 for the previous Depreciation amounting to £355 12s 4d has been written off buildings, plant, machinery and office furniture. The directors recommend a final payment of 2.64 d representing £6221 15s 3d leaving a balance of £39 7s 3d to be carried forward for Income Tax and National and Social Security Tax. CHEESE MANUFACTURE The company has been requested by the Department of Agriculture to change over to butter and cheese production for the period of emergency as soon as the plant is available. An officer of the Department recently discussed this matter with your chairman, manager and secretary. The matter will be open for full discussion at the annual meeting. ELECTION OF DIRECTORS Messrs C. L. Grant and A. F. Berry retire by rotation, and being eligible offer themselves for re-election. Mr W. Solly has announced his resignation from the board. Mr Solly became a member of the board of directors six months after the incorporation of the company, and has served continuously for a period of thirty-one years, giving unstinted service in the nterests of the company. Nominations for three directors close 0 1 6th August at the company’s office. COMPARATIVE STATISTICS I Payout previous year per lb of butterfat (season average) ... 15.68 Payout current year per lb butterfat 13 053 Estimated surplus oW No. of suppliers 72 7J’ Pounds of cream received 1,253,985 1.429.826 Pounds of butterfat from cream 488.433 565,617 Average butterfat test of cream .. 38.95 39.55 Total charges eluding repairs and depreciation up to f.ob. per i but• -1 fat ... 2.68 2.654 Butte "making— Total pounds butterfat used for creamery buttermaking 488.423 565.594 Pounds of creamery butter made 592.232 (*6.172 Overrun creamery butter made .. 21.25 21.32 Average grade of butter 94.424 94.429 Cream Grade Percentages— Finest 99.60 98.84 First .24 .73 Second .16 .38 Pounds of butterfat tn cream i sold 10 23