TATUA DAIRY COMPANY.

New Zealand Herald, Volume LIX, Issue 18198, 18 September 1922, Page 9

TATUA DAIRY COMPANY.

|BX TELEGRAPH. —OWN CORRESPONDENT.] MOJIRINSVILLE. Saturday. A pay-out of a fraction over Is 3d per lb. butter-fat, one of the best pay-outs for cheese sent Home last season on consignment, was announced at the annual meeting of the suppliers of tho TVltua Cooperative Dairy Co., Limited. A penny bonus was distributed at the meeting. The annual report stated that during the past season cheese manufactured was 692 tons, a very largo increase over any previous year. By attaining an average grade of 91.16, and the position of fourth on the grading list Tor the Auckland Province, the quality of Tatua produce had received very, favourable mention. A total (pay-out for the season of Is 3.07 d would bo made. During the last year the financial position; of the company had been greatly improved, and instead of depending on the banks for two-thirds of the company's working capitaJ, only twofifths now came from the banks. A shortago of £1436, due to London agents consequent on the slump, had been practically wiped off, and the sum of £25C0 had been spent on improvements. Messrs. W. R. Lowry, A. J. Luxton. and W. C. Woodley were elected directors to fill vacancies caused by directors retiring by rotation and resignations. Mr. W. R. Harkness, Government instructor, congratulated the company on its balance-sheet. It had secured the best price ho had heard of in ita pay-out, and the quality of the cheese made had been excellent.