MONEY FOR BUTTER-FAT

New Zealand Herald, Volume LXXI, Issue 21855, 18 July 1934, Page 7

MONEY FOR BUTTER-FAT

THE HIKURANGI COMPANY DEFERRED PAYMENT FOR YEAR [BY TELEGRAPH —OWN CORRESPONDENT] "WHANG'AREI, Tuesday The Hikurangi Dairy Company, Limited, will advance to suppliers for butter-fat supplied in June lOd per lb. for superfine -and 9}d per lb. standard. These advances will absorb £2166. For the corresppnding month of last year, when the advances wero at the same rate, the amount distributed was £2690.

In addition tho company is distributing tho deferred payment covering all the past year's supply, £16,452,' and also the dividend, £335. This will make the total disbursements on July 20 £18,953. On the corresponding date last year the' amount distributed for June butter-fat, plus the deferred payment and dividend, amounted to £18,610.

THE SPRINGHEAD FACTORY PAST SEASON'S OPERATIONS [by telegraph—OWN correspondent] ' WHANGAREI, Tuesday Tho 18th annual report and balancesheet of the Springhead Co-operative Dairy Company, Limited, to be submitted at the annual meeting of shareholders on July 27, states that the output of butter for the past season was 155 tons. The directors recommend payment of a dividend of 4 per cent on paid-up capital. The average advance payment to suppliers for all grades is 8.145 d per lb. butter-fat, to which has to bo added a deferred payment.