ORURU-FAIRBURN CO-OP. DAIRY FACTORY CO., LTD.

Northland Age, Volume 25, Issue 14, 30 July 1925, Page 7

ORURU-FAIRBURN CO-OP. DAIRY FACTORY CO., LTD.

A SPLENDID YEAR. The 24th annual meeting of the above company will be held on Saturday next. The director’s report reads: — Your directors have pleasure in submitting the 24th annual Report and Balance Sheet. The total output this season was 225 tons 18 cwt. 2 qrs. 22 lbs. —an increase over the previous season of l6tons i 4 cwt. 2 qrs. II lbs. This year the amount ot cream supplied has established a new record for the Company, the million mark having been passed for the first time in its history. The number of poundsof cream received was 1,042,582, and it is to the credit of suppliers that the quality was uniformly good. “Fairy” butter has graded very high again this season, and it must be gratifying to the manager to learn from London reports that “Fairy” brand ranks high as choice New Zealand butter. Onceagainxyour directors deemed it advisable to withhold the butter from sale when the market slumped, and their action has been justified by the prices now ruling. The advances made to suppliers have been regulated by the advances received against the butter, which have necessarily been on a conservative basis. The actual payment per lb. of butterfat to time of balancing is 12.84 d., and this will be supplemented in due course by further payments which, it is safe to assume, should make the average payment for the season a satisfactory one. The sum of £lB9 Os. 3d. was paid for choice grade cream. The sum of £lO7 lOs. Bd. was paidas dividends to shareholders. Herd-testing and the harnessing of water for power, about which the shareholders made certain recommendations, are matters which will be explained at your annual meeting. A perusal of the Balance Sheet will show that your Company is in a thoroughly sound financial position. Messrs. Pinker and Boyd offer themselves for re-election as auditors. J. W. HOSKIN, Chairman of Directors.

In connection with the above Co’s operations last season it is of interest to note that no butter was sold at less than 176/- per cwt., and with 46 tons in London yet to be sold, the final payout for the season should be good. The output was a second, 226 tons being manufactured, which is 17 tons more than the previous season. For the eight vacancies on the directorate 13 nominations have been received and a postal ballot has been taken. The result of the ballot will be announced on Saturday.