NORSEWOOD DAIRY CO.

New Zealand Times, Volume XXXVI, Issue 8171, 12 July 1912, Page 2

NORSEWOOD DAIRY CO.

ANNUAL REPORT. In presenting the fifteenth annual report and balance-sheet of tho Norsewood 00-oporativo Dairy Company, the directors congratulate the shareholders on tho satisfactory results of the season , ending May 31st. The backward spring and the fact that most of the cows came in early caused a falling away in the supply of milk up to December, in comparison with tho same period of the previous year. This loss was partly regained by an increased yield of milk during the late summer and autumn. Tho season's milk produced 292,5591bs of butter fat. The manufacturing account shows that 321,4741bs of cheese, and 176,9231bs of batter were turned out during the year. Cheese was manufactured from November Ist, 1911, to February 29th, 1912, suppl-ers during these months being paid 12id per lb for butter fat, which, with the proposed bonus added, will be increased to 14d per lb. Prices paid for butter fat used for butter-making were June to October, 1s per lb; November to February, Hid per lb; March to May, Is per lb. After writing off .£3OO for depreciation on plant and machinery, the working account shows a credit balance of £1729 9s Id, which it is recommended be dealt with as follows: —Dividend of 6 per cent, on share capital paid up to May 31st, 1911, £175; sinking fund account, £400; bonus of lid per lb on butter fat from November Ist to February 29th, £940; bonus of |d per lb on butter fat from March Ist to May 31st, £136; balance carried forward, £7B 5s 2d—total £1729 9s Id. The annual meeting will bo held on July 25th.