Manakau Co-Op. Dairy Co.

Otaki Mail, 27 August 1930, Page 4

Manakau Co-Op. Dairy Co.

ANNUAL MEETING. The Manakau Co-op Dairy Company, Ltd., held its fifteenth annual meeting on Tuesday, Mr. C. Dimock presiding. As the season'.-- bonuses totalling £2645 had already been paid out, there was little, business except the adoption of the report and balance-sheet. Mr. Dimock pointed out that, the average pay out compared very favourably with that of other companies. The average price paid for butter making was Is 4.12d,' for the average for ail grades, and for the twelve months of the year, and would be probably the premier pay but for the district. The over-run for the season was within the practicable limit, being 21.34 per cent., which was evidence that the pay out was not inflated from this sohree. ..

The pay out for eheese was within a fraction of Is ad, and might yet reach that figure, when final account sales come to hand. These prices referred to produce handled at the factory only, but as some suppliers .sent winter tniik to Wellington, their average return per Ib.-butter-fat was approximately Is SSaJ in some cases, and 1 7,43 d in others, according to circumstances.

I Commenting on the accounts, Mr. i Dimock said "the liquid assets totalled ! £2BBO 12s Od. and the fixed assets £3962 8s 7<J, a total of £6343 Js 4d. Deducting outside liabilities, £483 0* <3d, the amount was" £6360 os' lOd. Of this a bonus of £2645 had been paid, including June milk, leaving a balance of £3715 <>s lOd. Shareholders' capital was SI27S 10s Sd, leaving a reserve of £2437 10s 2d. As, however, the fixed assets were,, well written down;' the actual reserve was about £3OOO.

The retiring- directors, Messrs Dim-ock,-Atkins and Clifford, were retunicii unopposed, and the first-mentioned was re-cleeted chairman.

The question of grading milk for eheese was discussed, and a resolution supported the eheese suppliers present was carried to grade this- season, and pay a lower rate for second and third .quality milk. , Under'.,,this scheme suppliers would, it was hoped, "tnainiaiu the quality of their milk...'■ ■"