Hekeia Dairy Factory Company, Limited

NZ Truth, Issue 538, 9 October 1915, Page 4

Hekeia Dairy Factory Company, Limited

Balance-sheet and Report for 1914-15 Seaton — Largo Borrowings Make Sniall Profits.

The above balance-sheet and ' the meagre report printed thereon has been forwarded for review, it Is such a little concern, but "Cambist" always finds he can $rive a kindly hint to his farmer friends. , In this case he would point but, that the directors say nothing In the .repprt ns to the price Che, company has .paid ; for butter-fat. Every farmer knows that the whole of the business Of dairying may be summed up when the butter-fat price is given. After struggling with the accounts It would appear that the company only paid 12.33 d per pound for the butter-fat, and If this is the correct solution of the accounts, the amount paid out is rather'disappointing. It appears that the company made cheese for the season just ended, nnd these results are not so. good as m other places m the Dominion. The question arises as .to THE SELLING OF THE OUTPUT. Was it sold forward, or was It consigned? The report says nothing? on this Important poinr, There is no doubt about the method of finance that the farmers of Hekela affect. They have only paid up £119 2s 8d of capital and have had to rush to the bank for the rest needed to carry on with. They owed the bank for overdraft and Interest at date of the accounts £915. and far the season It has coat them £92 for Interest, or nearly £2 per week. Writer assumes that he has correctly gauged the return for butter-fat. If ho has made an error In this respect, then the accounts and report are to blame for it. Neither give a direct statement on the subject. The report should certainly do so, and there Is no reasort why the accounts should not be set out so as to make an Independent check upon the report. As to the selling of the output, not one word is printed to show how It was sold. Evidently farmers down Rlvcrton way HAVE MUCH TO LEARN from the Northern factories, if this Is a sample of their methods. It Is to b« hoped that the facts of the Hokela Co. will be set out so that ''Cambist" van underp.tiiml thorn, whon iho present soason on<ls, and what la more, he hopes thßt the prices of the output will show a marked incrense. Also, that the farmers will put more of tholr own mortoy m the business, and so be. less dependent upon the bunk. Two pounds per week Is n lot to pay away In Intorost. It .figures out at nearly £3 per ton of cheese.