OWAKA

Otago Daily Times, Issue 26215, 27 July 1946, Page 4

OWAKA

CO-OPERATIVE DAIRY The quantity of butter made by the Owaka Co-operative Dairy Company, Ltd., during the year ended June 30, 1946, was 187 J tons—an increase of nine tons of the previous season, states the annual report of the directors. The actual season average pay-out for the 1944-45 season was 16.128 d per pound butter-fat (all grades). Continuing, the report states that for the past season the average pay-out per pound butter-fat (all grades) was 15.455 d and that, in addition, farm and labour costs allowance had been claimed on 24591 b butter-fat for July, 1945, at 2.887 d per pound, and on 357,0791 b butter-fat at 3.904 d per pound from August 1, 1945, to June 30, 1946. This had already been paid out to suppliers with the advance payment. It was proposed to pay a dividend of 5 per cent., which would absorb £212 4s 8d and represented 0.141 d per pound butter-fat. Including the costs allowance and the proposed dividend, the total payment received by suppliers was equivalent to 19.5 d per pound butter-fat (all grades). * Stocks of butter on hand for local sale had been valued at 15.39 d per pound. The balance on appropriation account after paying bonus and dividend would be £524 16s 7d, subject to taxation for 1946. The retiring directors were Messrs J. D. Hogg and W. Mudie, both of whom offered themselves for re-election.