Cardiff Co-Operative Factory.

Opunake Times, Volume I, Issue 31, 16 October 1894, Page 4

Cardiff Co-Operative Factory.

The third annual report is as follows In presenting the third annual report and balance-sheet of the Cardiff Co-operative Dairy Factory Company, Limited, yonr directors have the pleasure of again congratulating the shareholders on the continued success of the company. The amount of milk received for the year was 280,486 gallons of lllbs, which produced 290,0451bs cheese net, being equal to 11b cheese to 10 8-sth lbs of milk, and which cost for manufacture, and freight to Wellington, £7 14s 8d per ton. The whole of the cheese was this year shipped to London with satisfactory results, which have enabled the directors to pay 3d per gallon monthly, and in addition another id per gallon has been paid, making the total payments to date B£d per gallon. There still remains an estimated balance of £557 19s 7d (after providing for depreciation of property and plant) which your directors recommend to be apportioned as follows :—A further payment of £d per gallon, absorbing £292 2s 7d, the sum of £SO to renewal fund, and interest at the rate of five per cent, on fully paid up shares, amounting to £l6 17s, leaving a balance of £199 to carry forward to credit. Since last ananalmeetiug the factory has been enlarged to a capacity of six rats, and a new 14 h.p. boiler procured, at a total cost of £SOO. The shipping arrangements for last season were most unsatisfactory, and so general was the dissatisfaction in the North Island that the North island factories formed themselves into a branch of the National Dairy Association, having cont rol of their own affairs, though remaining members of the parent association, Your directors have every reason to congratulate shareholders on the excellent railway and shipping arrangements which have been made for the coming season, which must have a beneficial effect upon the industry; new insurance rates, too, are very favorable. —Star.