DAIRY INDUSTRY

New Zealand Herald, Volume LXXVI, Issue 23429, 19 August 1939, Page 11

DAIRY INDUSTRY

TIIE RAGLAN COMPANY LIQUIDATOR'S REPORT RECORD SEASON FOR QUALITY [from OUll OWN correspondent] RAGLAN, Friday The final stages of the Raglan Cooperative Dairy Company, Limited, which has gone into voluntary liquidation and the shareholders of which have transferred their supply to the New Zealand Co-operative Dairy Company's Frankton factory, have been reached by the issue of its 34th and last annual report. In the.report the liquidator, Mr. Sydney Darby, states that at an extraordinary general meeting held on Juno 26 it was resolved to wind up the company voluntarily. Since then steps had been taken to realiso the company's assets as quickly as possible and to the best advantage. At the present time practically the whole of the company's machinery had been sold. Dealing with the operations of the company for the year ended May 31, Mr. Darby said there was a further decrease in output of 94 tons of butter, the season's make amounting to 429 tons, compared with 523 tons for 193738, A record had been established for the quality of the company's output, the average grade for the export season being 94.047 points. Of the total output for the year 94.71 per cent had been graded for .export and of this amount 70.60 per cent received the Government premium for grading 94 points and over. The costs sh<\wod a considerable increase as compared with the previous year owing to the reduction in output, and also to the fact that no deduction had been made for cream cartage from advance payments. Mr. Darby said the estimated average pay-out per lb, of Kutter-fat over all grades was 14.5208 d, and the actual pay-out was 14.525 d There was £4385 available for distribution, and a payment for 1 5-16 th of a penny on all butter-fat received during the season had been made. The accounts showed a total average butter-fat' payment, irrespective of grade, of 15.6296 d per lb. clear of cartage costs. On the basis of finest quality butter-fat delivered at the factory the total would be 16.33 d. Cream cartage costs equalled .017 d per lb. on the total supply. No interest on share capital would be paid during the year.

PAYMENTS IN THE NORTH TOTAL OP OVER £50,000 [by telegraph—OWN correspondent] WHANGAREI, Friday Suppliers to the Whangarei Dairy Company received. £46,221, being £42,414 deferred payment from last season's supplies, £491 dividend on shares and £3316 advance payments for July butter-fat supplies. Hikurangi suppliers will receive £2384, Maungatapere £IBSB, Maungaturoto £1431, and Waipu £663. Although the basis of payment is greater per lb. than that, paid for the same period of last season, the total amount is less than the amount paid last August, due to the very large decrease in production. In the case of the Waipu company "this decrease in payment amounts to one-third, while the other companies are * about onefourth to one-fifth down. The deferred paymont for last season has previously been distributed by all the companies with the exception of Whangarei.

WHANGAREI RESULTS HOPES FROM NEW PLANT [by tklegraph—owx correspondent] WHANGAREI. Friday "The accounts need little comment, the balance-sheet disclosing an extremely sound position," . said Mr. E. S. Tremaine, chairman, at the 32nd annual meeting of the Whangarei Dairy Company to-day. The make had decreased bv 289 tons, or a fraction over 10 per cent, while costs to f.o.b. had increased from 1.524 d to 2.003 d per lb. butter-fat, due largely to the lower output. The gross average received by each supplier was £391. The suppliers, at 915, were fewer by 13 than in the previous year. Of the company's butter, 67$ per cent had graded 94 points or over, returning a premium payment of £1833, and 24J per cent had graded 93 to 93$ points. In addition to the butterfat pay-out and the dividend on shares, eligible suppliers wore receiving by road cartage subsidies £632 and rebates on trading amounted to £llOO, •which, added to the dividend, amounted to .113 d per lb. butter-fat.' The board had completed the installation of electric power in the factory, which was now all-elcctric with the exception of the steam required for processing and cleaning. It was hoped to effect a considerable saving in fuel and power costs.

Tho meeting supported the payment by the Government for the coming season of the price recommended by tho advisory committee plus ascertainable costs since the recommendation of the price. It was considered that any suggestion of. going back to the basis of accepting market prices was unthinkable.

GRAIN AND PRODUCE MARKET IN CANTERBURY POTATO PRICES LOWER [BY TELEGRAPH PRESS ASSOCIATION] CHRISTCHURCH. Friday The potato market in Christcliurch is still moro or less marking time bocauso of uncertainty about the import position. While the market shows no marked weakness, quotations at £l6 to £l6 10s, according to delivery and station, are slightly lower than those ruling a week ago. Offerings from the country are still very small. The Waiana and the Kakapo have loaded potatoes for the North Island this week. The Waiana took 7200 sacks from Lyttelton as well as a quantity from Timaru, and the Ivakapo,' which was loading in Lyttelton to-day, was expocted to take between 5000 and 6000 sacks. Onions are still very firm at £l7 to £lB a ton. The end of tho season is approaching and supplies are very small. Chaff is reported to be weak, with quotations from £4 to £4 5s a ton. A little moro activity has been reported in the seeds market this week, but it will be some time yet before the full seasonal demand sets in. Most of tho trado so far has been local.