RECORD PRODUCTION.

New Zealand Herald, Volume LXVII, Issue 20642, 14 August 1930, Page 14

RECORD PRODUCTION.

f DAIRY COMPANY'S YEAR. OF 44,597 TONS. EFFECT OF LOWER PRICES. BONUS PAYMENTS OF £353,623. [ny TELEGRAPH. OWN CORRESPONDENT.] HAM ILTON, Wednesday. An ouf'put of 44,597 tons of dairy pro- , duce has been manufactured by the New Zealand Co-operative Dairy Company, Limited, during tho 1929-30 season. A statement issued by the general manager, M;\ C. J. Parlane, includes an announcement that tliu bonus to butter suppliers, which would be paid as usual on August 31, would be I 316 d per lb. of butter-fafy After providing for gd per lb. bvilter-fat shareholders' bonus over tho season, tho balance will be paid over the months January to May inclusive. Tho amount of bonus payments would ho £353,623. The report of the directors, to be presented at tho annual meeting on August 27, slatqs that the past season was the most successful on record from a' production point of view. The prices obtained for the company's produce were good in tho earlier part of the season, but there was a decline to low prices in the latter part of (he season, with tho result that the average payment will be less than for^ some years past. Increase in Output. >The outputs of tho .commodities manufactured, by tho company in recent years are as follows: . 1927-23. 1323-29. 1929-30. Tons. Tons. Tons. Butter .. .. 26,072 27.195 32.451 Cheese . . . . 1,250 5,9-19 6.563 Casein . . .. 72:' 7! I 1,200 Milk Powders .. 4,110 4.341 t,353 Condensed Milk . 183 931 For the same years the following table shows the total value of the property and plant, and also capital issued and paid up:— Land, build- 1927-28. 1923-29. 1929-30. ings /and £ £ £ plant .. 1.115,933* 1.101,626 1,070,328* Issued Cap. 1,343,525 1,367,67-1 1.356,873 Paid-up Cap. 1.056,041 1,087,531 1,130,247 'Excluding colliery. Fire Losses Replaced. Tho report records tho loss by fire during the season of the cheese factory afc on Juno 15, 1929, and of the butter factory at Ngaruawahia on July 13, A thoroughly up-to-date cheese factory m concrete has been erected at Manawaru and commenced manufacturing on December 6." A modern butter factory, -also in concrete, erected at Taupiri to replace the Ngaruawahia factory, commenced manufacturing butter on August 11. The stocks of dairy produce unsold at the of the season have lieen taken into' account for balance-sheet purposes at reasonable price. The following figures briefly summarise the past season's operations: — Lbs. Milk for butter-miiking • ~ 222,261,377 Uilk for cheese-making . . 145,513,218: i;Cream for butter-making . . 123,071.210 Total. butter-fat for buttermaking 59,851.183 Total butter made . . . . 72,690,695 Over-run, per cent. .. 21.45 Total butter-fat for clieesemakin? . .N 5,804,437 Total'cheese made .. .. 11,700.001 ■ Casein made . . . - - 2,688.460 Milk powders made .. '9,817,629 ■ - The Season's Payments. Tho average price advanced for butterfat received for butter-making during th'S season was 14.785 d. The total average price |for butter-fat of -superfine grado ■will be 16.058 d. In addition the payments made by the company for subsidy on cream cartage and railage on cream amounted to 0.234 d, thus increasing tho average price at central factories for superfine butter-fat to 10.292 d. Cheese will, in accordance with their respective manufacturing results, receive varying payments. All prices stated are conditional upon unsold produce realising at sale the valuo placed upon it for balance-sheet purposes. Casein suppliers have, in addition to butter payments, received an average premium of 2.018 d per lb. butter-fat:. will also be credited with 0.25 d per lb. butter-fat share capital. ' Milk- powder suppliers have, in -addition to< butter advance, received the usual premiums' for skim milk. The amount to the credit of their profit and loss accounts for the past season will not be dealt, with until a quantity of' stock equivalent-' to the season's "make" has been realised and the final amount available for credit to share capital is definitely known. Three of the retiring directors, Messrs. Dynes. Fulton, David Bruce and P. 11. Saxton, have been re-elected unoppased. Ah election will take place in the southelectoral district," the retiring director being Mr. F. E. Hughes. Commenting on tho year'? operations Mr. Parlane said a most successful season bad bein experienced. Following tho company's usual policy, with the exception of'butter and cheese sold to Canada and the East, all produce exported was shipped on consignment,' with the result • that owing to the continuous fall in prices throughout the season, the returns received for the produce on the British market were not as favourable as those' available to f.o.b. sellers. Throughout the year the company continued its policy of assisting both its suppliers individually and the industry generally in every way possible The calls for finance had been particularly heavy, but the company had been :ib]e to trice* nil reasonable demands fur firi.-inee jo purchase dairy cows and fertilisers.