KAIPARA DAIRY COMPANY.

New Zealand Herald, Volume LXVI, Issue 20302, 9 July 1929, Page 7

KAIPARA DAIRY COMPANY.

SUCCESSFUL OPERATIONS.

GREAT INCREASE IN OUTPUT. The eighteenth annual report of the Kaipara Dairy Factory Company, Limited, states that owing to favourable grazing conditions, production through out the Dominion has been heavy. The output of butter from the company's factory totalled 1583 tons, an increase over the preceding season of 377 tons, equal to 31 pei cent. The quality of tho out put has been well maintained, the average grade .point? for the butter during the season being 93.03 points, slightly better than ihe average for tho 1927-28 season. .Market rates have ruled higher than for some years past. As satisfactory offers for f.o.b. sales were available 1006 tons were sole' on ship at Auckland, a further 83 tens were sold for consumption in New Zealand, and tho balance of 499 tons were exported on consign nient. About 36 tons remain unsold at this date and have been valued for bal ance-sheet purposes at the current mar l;ct rate of 168s per cjvt. The monthly advance payments have been varied in accordance with ral:cs at which the butter was sold and havu sub sequently been increased by progress pay merits Tho rates paid for ordinary first grade during the year now stands at:— .June. July and August, Is 6 l-8d , Sep tembei. Is 6d; October to May, Is sd: the average being Is 5.33 d. A balance of £24,231 8s lid is available for distri bution, and this the directors, after re serving £1036 for payment of a dividend on share capital, propose to distribute as follows: —Payment of a further' Id per lb. on all butter-fat from October 1 to May 31, bringing the rate for this period up "to Is 6d per lb.; a final payment of 1 l-8d on all butter-fat, September 1 to May 31. Tho average over the year and over all,grades will be Is 7.2 d, and with the dividend added makes a total payment to suppliers of Is 7.29 d. This will bo the nighest return for any year since the close of the period of Govern ment purchase in 1924. During the year 1955 shares we:e allotted and 291 were repurchased by the company. All available shares will be allotted this month and to provide for future expansion steps will bo taken at tho annual meeting to further increase the capital by £IO,OOO. Payment of a dividend at the rate of 6J per cent, on each complete £1 of share capital paid up at August 31, 1928, is recomrcended. FROZEN MEAT MARKET. QUOTATIONS FROM LONDON. The Bank of New Zealand has received the following advice from its London office concerning the frozen meat market; as at the close of business last week Wethers- , 6d to 7Jjd per lb.; heavy, 5d to 5Ad; ewes. 4JUI to s^d; lambs, twos, 9d to 93d; eights,-83d to 9d; fours, 8d to Bid; seconds. 9d to'9Jd. Ox hinds, sid to 6d; fores, 4|d to 4|d; cow hinds, 5a to s^d; fores, 4d to 4|d~ Tho market is firmer for heavy-weight wethers, There is; little better demand for owes. The demand is fair for lambs, but sellers forcing sales havo weakened values. The beef market is firm.