DAIRYING INDUSTRY

New Zealand Herald, Volume LXIX, Issue 21291, 19 September 1932, Page 5

DAIRYING INDUSTRY

MONEY FOR BUTTER-FAT

ADVANCES FOR AUGUST COMPANIES IN WAIKATO [FROM OUR OWN COB/RESPONDENT J HAMILTON, Saturday The Cambridge Dairy Company will advance a. total of £10,070 in the coming week for the August supply of butter-fat. The basis of payment will be lid per lb. butter-fat for both' butter and cheesemaking. In Augudt, 1931, tho company paid out a total of £8863 at the rate of lid for cheese and lOd for butter. The company's supply last month showed* an increase of 5 per cent over that for August, 1931. For the season to date the. company has paid out £15,220, compared with £13,475 for the corresponding period of last season. The Bruntwood Company received 35,9581b. of butter-fat in August for which the company is advancing Is per lb. butter-fat for cheese-making, the -.total distribution being £1798. For the same period last year the company received 33,0441b. of fat, for which it advanced' £1377, on the basis of lOd per lb. In addition to the ordinary advance the company is making a further supplementary payment of per lb. butter-fat over the whole of last season. This brings the total payment up to 12.27 d per lb. butterfat. s An advance of lid per lb. butter-fat will be made to suppliers of the Hinuera Co-operative Dairy Company. Tho distribution will amount to £3732, as compared with £3228 for August, 1931, when the rate of advance was lOd per lb. The Norfolk Co-operative Dairy Company will make an advance payment of Is per lb. butter-fat, a total distribution of £1484, as compared, with £1232 for the previous August, when lOd per lb. was advanced. The advance made by the Sunny Park Co-operative Dairy Company, Limited, will be at the rate of lid per lb. butterfat, the same as that for August, 1931. Suppliers will receive a total of £1398, the - distribution for August last year amounting to £1526. The Raglan Co-operative Dairy Company, Limited, is advancing ll£d per lb. for superfine butter-fat supplied in August. The Te Aroha-Thames Valley Co-opera-tive Dairy Company, Limited, has fixed its advance on the basis of lljjd per lb. butter-fat at the farm gate". An advance payment of lid per lb.will be made to suppliers of the Kakepuku Co-operative Dairy Company, Limited, for the 75001b. of butter-fat-handled, the total distribution amounting to £343. For August last year, when 72001b. of butter-fat was supplied, the advance was at the rate of lOd per lb., and a total of £3OO was distributed. Suppliers of the Tokoroa Co-operative Dairy Company, Limited, will receive an advance of £179 at the rate of Is per lb. on the 35801b. of butter-fat handled." For August of last year, when £lsl was disbursed, an advance of 9£d per lb. wa3 •nade. BAT OF ISLANDS PROG2ESIS GREAT INCREASE IN OUTPUT [from ora OWN correspondent] "WHANGAREI, Saturday The Bay of Islands Co-operative Dairy Company's output for the first three months of this season shows an increase of 42 per cent, compared with the same ■ months of 193 L The number of suppliers J has increased to 425, being 44 more than . last year. The directors .have decided to -' a further pay-out on all butter-fat 1 supplied, between September 1, 1931, and ' May 31, 1932, of 5-8 don October 20. I This will bring the average payment at t the factory door to 11.61 d per lb. over all i grades, and on finest quality to lljd per ! lb. .' The advance payment on finest lbutterfat delivered in August was fixed at 10jd at fanners' gates. 5 THE OPOTIKI ASSOCIATION a """ a -Ja INCREASED BUTTER OUTPUT e.' d ' [by telegraph —OWN correspondent] OPOTIKI, Saturday

There was a large attendance of shareholders of the Opofciki Dairy Association at the 36th annual meeting to-day, Mr. W. J. Connor, chairman of directors, presiding. , ' / ~ The directors' report stated that the amount of butter manufactured during the year was 1946 tons, an increase of 228 tons over that of the previous year. It was proposed to pay 6 per cent on share capital and additional payments of Id per lb. on all butter-fat supplied from September 1 to July 31, and £d over the whole season, bringing the total payment over the year up to 12£ d per lb. butterfat. The final payment would be'made on October 20. The directors had continued their policy of selling f.o.b. when prices seemed sufficiently attractive. Messrs. Connor and Gault retired from the directorate by rotation, and were returned unopposed. In moving the adoption of the report and balance-sheet, Mr. Connor made a strong appeal for loyalty to the company by suppliers, stating that co-operation had always proved best for farmers. The suggestion was made that the dividend on share capital should be reduced and the difference paid on butter-fat. Messrs. C. Fleming and T. H. Pearson were re-elected' auditors at a reduced fee. The chairman's honorarium was fixed at £IOO and the directors' at £l2 per annum each, this being an increase of £6 for each director.

A motion to increase the share capital of the company from £25,000 to £40,000 was carried.