MURCHISON BUTTER

Nelson Evening Mail, Volume 77, 12 August 1942, Page 1

MURCHISON BUTTER

DAIRY COMPANY'S REPORT i PAY-OUT OF 15.60Zd PER POUND i NO DIVIDEND ON SHARE CAPITAL The 33rd annual meeting of shareholders tn the Murchison Co-operative Dairy Factory Co.. Ltd., will be held at Murchison on Friday. The estimated average pay-out to suppliers for the season was 15.602 d per pound for butterfat. The directors’ report which will be presented at the meeting is as follows “The output for the season was 372 j tons, being a decrease of 14 tons on | that of the previous season. “The season's operations disclose a ! surplus of £7601 4s 7d. This amount, with a balance of £384 brought in I from the previous year's accounts, j makes a total of £7986 4s 7d available I for distribution. It is proposed to make I a final payment of 2.750 d <2fdi per lb. ; butterfat covering all grades lh rough - j out the season. j “The director* who retire by rota - j lien this year are Messrs Chas. Lynch. ; N. J. H. Peacock and L. W. Todd, who being eligible, offered themselves for re-election. As no further nominations were received these gentlemen will be declared duly elected. “In accordance with the provisions of ‘The Daily Industry Accounts Regulations. 1939.’ we have to report as follows:—In respect of the previous year (1940-41), the estimated season-average payout per pound for butterfat (all i grades) quoted in the report was i 15.091 d. The actual payout finally I made was 15.812 d. In respect of the I current year (1941-42). butter unsold j at balance date was valued as follows: ; pats, 10d per pound, less the appro- ■ priate I.M. differentials. The season - j average payout per pound for butterj fat (all grades), which should result j from the disposal of unsold butter at j this value, is 15.602 d. , “The estimated total amount of j cream cartage costs incurred by sup pliers individually is £l6 2s. which I represents 0.006 d per pound on the i total number of pounds of butterfat J received ty the company in cream j from all sources. “It is not proposed to pay any interest or dividend on share capital, nor is ) it proposed to carry any amount to any reserve account." STATISTICS Accompanying the report the following statistics will be presented, with comparative figures for the previous year in parentheses:— Payout current year per pound butterfat. advance 12.923 d. estimated surplus 2.750 d. 15.673 d (season average 15.812 d) number of suppliers. 120 (119* pounds of cream received. 1.704.873 (1,744.355 1; pounds of butterfat from cream 681,035.4 (705,241.6); average butterfat test of cream 39.95% (.40.43%); total charges, including re pairs and depreciation, up to f.o.b. at per pound butterfat. 2.819 d (2.756 d>. ■ total pounds butterfat used for creamery buttermaking 681.035.4 (705.241.6*: pounds creamery butter made 833.500 <tt65.718); overrun creamery butter ! made 22.40% (22.75%); average grade butter 94.492 (94.848): cream grade I percentages—finest 87.22 (83.53); first 11.69 (15.731; second 1.09 (0.74).