THE DAIRY INDUSTRY.

New Zealand Herald, Volume LXIII, Issue 19394, 31 July 1926, Page 10

THE DAIRY INDUSTRY.

OUTPUT AT MORRIN3VILLE. SUCCESS OF LAST SEASON. [BY TELEGRAPH. —OWN CORRESPONDENT.] HAMILTON, Friday. The fourth annual meeting of the Morrinsville Co-operative Dairy Company •was held to-day. Mr. F. W. Seifert presided over an attendance of fifty suppliers. In moving the adoption of the report and balance-sheet the chairman said the quantity and quality of the company's ! output last season were excellent. The prospects for the company were very | good. He estimated that next season the output would show an increase of 120 tons. A. large number of additional suppliers were; signing up. Of the but ter made By the company 99 per cent. was first grade and o'ne per cent. was second grade. The company's first' grade produce had realised the same price as other companies' best grade butter.'- The directors had given the' quefctron : a great deal of attention. They were concerned regarding the proposal of the Dairy Control Board to provide for a. halfpenny per pound bonus for butter grading over 93 points. Every eiV.eavour was being made to improve the grade. Regarding the finances, Mr. Seifert said "the .company had an overdraft of only £3OO. Very shortly the company would be in a position *to resume the shares of those suppliers who had left the, district. He knew of no other company that wss in a more sound financial position. The company had sold the whole of its output of 550 tons and had paid out over Is 6d per pound for butterfat. Mr. Leeson said the prospects generally for the New Zealand butter producer were not favourable. He advocated an economical and conservative policy. Tihe report and balance-sheet were adopted. Messrs. J. E. Leeson and F. K. Tompkins were re-elected directors. Mr. T. J. Ryan,,was reappointed auditor. It was resolved, to pay 5£ per Tent, dividend on the paid-up share capital. THE CAMBRIDGE COMPANY. MOST SATISFACTORY SEASON. [BY TELEGRAPH. —OWN CORRESPONDENT, J CAMBRIDGE. Friday, The twenty-fith annual general meeting of the Cambridge Co-operative Dairy Company was held in the Town Hall to-day. Mr, M. Wells, chairman,, presided over an attendance of 150 shareholders and suppliers. The annual report indicated that the company had had a most successful year. The financial and genera! position of the company was most satisfactory. After allowing for depreciation amounting to £2882 ■ 9d on buildings, machinery and transport plant, there remained a balance oa the year's working of £8136 19s Id, on account of butter and £11,697 15s 4c 1 : on account of cheese. The year was a record one in point of supply, 2,667,0631b. of butter-fat having been manufactured. This amounted to an increase of 5j per cent.' over last year. The company's policy of making cheese from Sepieinber to March appeared to be the Tight one, cheese again earning over 3d per lb. butter-fat more than butter. The coal strike had a disastrous, effect on both butter' and cheese realisations, hut operated more severely against butt»i-; owing to the iTanes being forced to operate in London and compete with the New Zealand product, whereas usually the Danes operated chiefly in the North of England and in the Midlands. It was intended to pursue an active nolicy in regard to herd-testing. The board was also prepared to finance the purchase of pedigree bulls for suppliers. The pay-out for butter and cheese, plus the surpluses, would amount to not less than Is sjd for butter and Is 8M for cheese. In his review of the past year's operations, the chairman said the financial arrangements made by the board with the bank had placed the company to-day on a sound financial basis. It was gratifying that the company's supply during the past season was a record. 'This was due in a large measure to the benefits derived from herd-testing. The report and balance-sheet were unanimously adopted. Messrs. F Lye W. Harbutt and J. W. Garland were elected directors. The auditors were reappointed.