DAIRYING INDUSTRY

New Zealand Herald, Volume LXIX, Issue 21273, 29 August 1932, Page 5

DAIRYING INDUSTRY

TE AWAMUTU COMPANY INCREASE IN OUTPUT The sixth annual meeting of the To Awamutu Co-operative Dairy Company, Limited, states that for the year ended May 31 last the suppliers numbered 289 and the total output of butter was 1158 tons, the figures for the preceding year being 278 aud 1081 respectively. The directors have continued to carry out the policy of resuming share capital at 20s in the pound 6n the paid-up value, states the report, the total value resumed to date being 2578 shares, paid up to £1463. For the first time since the inception of the company a considerable number of suppliers were holding fully-paid- '■ up shares. They therefore participate this year in a special cash bonus to shareholders of £d per lb. on all butter-fat supplied, which is equivalent to- 4s 2d for each £1 fully-paid share. In addition, the company is paying the usual dividend of 6 per cent on all share, capital, whether fully or partly paid, making a total return to fully-paid shareholders of 27 per cent on their investment. With the distribution of the final payment at the annual meeting, at Te Awamutu to-morrow, the monthly payments to shareholders for finest-grade cream will be as follows:—June and July, Is o£d; August and September, Is; October, lljrd; November, lid; December to March, 10£ d; April and May, lOd. These figures do not include the dividend of 6 > per cent on share capital, which brings the total average payment for finestgrade cream to 11.19 d. If cream cartage subsidy is added, the total payment for the season is 11.59 d. The two retiring directors, Messrs. G.. Spinley and C. S. Mcxted, have been reelected unopposed. MORBINSVILLE COMPANY SUPPLIERS RECEIVE £14,000 [from our own correspondent] MORRINSVILLE, Saturday Over £14,000 was paid out to suppliers of the Morririsville Co-operative Dairy Company this month. The advance payment for July butter-fat was at tlje rate of per lb. for 117,9591b. butterfat, a total of £5403, while a bonus at the rate of 3-5 d over the whole season accounted for a distribution of a further £9920.