WAIKATO DAIRYING.

New Zealand Herald, Volume LIX, Issue 18171, 17 August 1922, Page 5

WAIKATO DAIRYING.

N.Z. CO-OPERATIVE CO. ' PAST YEAR REVIEWED. MABKED INCREASE IN OUTPUT. [by telegraph.—own correspondent.] HAMILTON. Wednesday. The annual report to be presented at the general meeting of shareholders of the New Zealand Co-operative Dairy Company, Ltd., to be held at Hamilton on August 23, states that during the season 18,200 tons of butter were made, against 12,600 tons for the previous season, representing an increase of over 40 per cent. It is gratifying to record that there has been a marked improvement in the quality of the butter and casein manufactured. Unfortunately, the splendid dairy season was counterbalanced by the unprecedented slump in,the price of all dairy products. The industry passed through the greatest crisis on record, but the strong financial position of the. company and the results obtained spoke volumes for co-operative enterprise. The report further states that reference was made in the last report to the question of improving marketing conditions, Mr. Goodfellow's mission to London had resulted in the appointment of Mr. J. B. Wright as European manager, and he was now controlling the company s sales operations in Great Britain. Mr. Goodfellow's visit to overseas markets had already been of very considerable benefit to the company, and it was anticipated great advantages to the business would accrue in the future. Owing to the tremendous expansion of the industry since amalgamation, the directors had been called upon to practically double the manufacturing capacity of the company's plants; otherwise milk and cream offering could not hav© been handled. These plants had been paid for by borrowing from the banks. The expenditure had greatly exceeded share calls, and, in consequence, it would take two years' share payments to enable the company to pay out promptly at the close of each season. The box department had proved m unqualified, success, and had resulted in a direct saving of over £25,000. The farthing per lb. required to provide the capital would be deducted next season. The development of the coalfields was well in hand, and was ahead of the railway work of the Public Works Department. The final farthing to provide the total capital would be deducted from; the past season's payments. It was anticipated coal would be available in large quantities for the factories ia n, year s time. The- company's coal requirements now exceed 70,000 tons a year. The following statistics indicate the scope of the company's operations daring the past season ': -— Milk- received, for butter-making, 75,842,00fiib.;., mijk received for cheese-making, 105j497,4571b.; cream received, 73,45i,3401b,; totaLhutterfat for butter-making, 33^2,078f1>; total butter made, 40,809,1861b; over-run, 20.09 per cent.; total butter-fat for cheesemaking, 3,981,7411b.; cheese made, 10,507,7971b.; average cheese made from lib. butter-fat, 2.6391b.; Casein made, 497.555 tons. . The average price advanced for all butter-fat throughout the pant season was 12.00 pence. The total average price paid for superfine cieam at central factories will be 16.46 d, conditional on the unsold butter realising the prices at which stocks on hand and afloat have"been valued. SupI pliers who deliver to. railway (stations I receive £d per lb. less. ~",.,"• A circular accompanies the report sent to suppliers. It states that the 'directors have now decided. to close down the company's merchandise business, and il is anticipated that this will reduce com plaints by 90 per cent;'' In future onlj separators, .cream cans, dairy brushware and appliances required- far the-handlinj of milk and cream will be.-sold; It 1 necessary to increase the" capital of .thi company, in order to enable the issue o: additional shares due, to •increase in sup ply. It is not the intention of the directors to increase the shareholding butterfat basis. ' On August 25 a progress bonus, payment of 3£d per lb. on butter will be made, covering all butter-fat supplied during the months of December, January, and February. It is anticipated that farther payments will be made at the eiid of September and October, covering the whole of the butter-fat supplied from October 1 until the end of April; "The winter bonus,' covering.butter-fat supplfied during May, June, and July, will be available when the surplus. produce mot required for local consumption has been disposed of.