STIRLING DAIRY FACTORY.

Otago Witness, Issue 2325, 22 September 1898, Page 14

STIRLING DAIRY FACTORY.

Tl;e following is the twelfth annual repoxtf and balance sheet of the Stirling Dairy Factory Company (Li*nitod^:.-^i

In presenting the twefth annual Tejjorfc of tho Stirling Dairy Factory Company (Limited) your .directors regret that owing to the high price paid for milk during th« past season there is a small loss on the annual account of .the company. Your directors took into consideration the el'ssstrous effects of the -very wet season, which militated against the prospects of the farming community, and in consequence paid a price £or milk — nearly B|d per gallon, the average over tho whole season — which has resulted in a small debit balance. But when the healthy financial state of the capital account is taken into consideration this should not be considered of very much importance, as by referring to the balance sheet shareholders will see that the finances of the company are in a very heaithy condition, The output of the factory has been disposed of at fairly satisfactory prices. ; Your directors have, for reasons already stated, decided to supplement the price paid for milk by id. per gallon. A dividend of 6 per centum will he paid on Bharo capital. The opening price for milk for the current season will be at the rate o£ 3|d per gallon for milk testing 3.6, but your directors reserve to themselves the right to, at any time, alter the price of milk consistent with the state of the cheese market. The services of the manager, Mr "William Savers, have been again secured. Your direc.tors take this opportunity of thanking that excellent officer and his staff for the energy with which they performed their duties. The following directors retire by rotation — viz., Messrs William Smith, William Wilson, and Ed. Boyd, and also Mr J. C. Mitchell, the auditor. The two former directors and the auditor offer themselves for re-election. Jos. Smith, ■September 14. Chairman.