CO-OPERATIVE DAIRY COMPANY OF OTAGO.

Otago Daily Times, Issue 19952, 20 November 1926, Page 10

CO-OPERATIVE DAIRY COMPANY OF OTAGO.

The annual meeting of the shareholders of the Co-operative Dairy Company cx Otago (Ltd.) was held on Wednesday, Mr P. Waite, M.P., presiding. . Tho annual report stated inter aha that “The directors took tho opportunity ot expressing their thanks to the dairy farmers of Otago for the continued support accorded the company. Tho butter manufactured for the 12 months was 714 2 tons, as compared with 520 tons for the previous 12 months—an increase of some 38 per cent. This increase was probably the largest recorded by any factory in tho Dominion for i lie past season, and was an evidence ot tho growing popularity of the c ° ra P£* among the dairymen of Otago. A large portion of the manufacture was sold on the i„cal market. The quantity available foi hipnient was consigned at regular intervals hiring the year. At date of the balance a portion at Home was unsold, while some was still on tho water. A fair value had been placed on this butter and whether a further payment to suppliers would be made was dependent on the final realisation. As usual, the assets had been fully depreciated, the sum of £2532 ,14s 8d having been set aside for depreciation and .contingencies. After making this provision there remained a balance of £1042 12s, out of which the directors recommended that the usual dividend of 6 per cent, per annum he allocated, and that tho balance, less incomo tax, bo carried forward. The amount of the dividend would be credited to shareholders’ call account, and would be paid in cash on shares that were fully paid up.” Tho report w’as adopted. Tho retiring directors, Messrs C. R. Smith and W. Blackio wore re-elected. Messrs Barr, Herons, and Company wore ro-appointed auditors.