NORTHERN DAIRY CONCERNS

Otago Witness, Issue 3205, 18 August 1915, Page 13

NORTHERN DAIRY CONCERNS

ALONG THE WEST COAST. (Feom Oue Own Coeeespondent.) The last spell of dry weather- in the summer accounted for a very serious decrease in the milk supplies of the north, and, compared with last year, there is not a factory in the Taranaki or Wanganui districts that did not feel the effect. Had it not been for the war, there would have been some pretty long- faces at annual meetings now being held; but, as it was, _ the situation was relieved by big war prices, and the extra money received more than compensated for the loss occasioned in supplies by the drought. During the past week a number of meetings were held, including the following:— ARARATA. At the annual meeting of the Ararata Company the report presented stated that out of the balance in hand it is recommended to pay interest on shares, absorbing £97 10s sd, and 4gd over the season, making in all a payment of Is 63d. The report was adopted. Statistics. —Pounds of milk, 4,919,717; pounds of butter-fat, 187,304; pounds of cheese (222£ tons), 498.737; pound of milk to pound of cheese, 9.86; pound of cheese from pound of butter-fat, 2.66; average test, 3.81; cost per pound, f.o.b. (including depreciation). .971; paid out (estimated at), Is 6*d, Receipts for cheese £18,161 14s, and for butter £778 15s 9d, while the items of expenditure included: —Milk, £11,231 3s sd; boxes and cases, £257 12s 9d; charges on consignments. £1949 9s lOd. The balance to appropraition was £3435 14s Bd. RIVERDALE. The twenty-first annual report of the Riverdale Company, presented to the annual meeting on Monday, showed that the profit and loss account left a credit of £7089 4s Id, from which the directors recommended the payment of 6 per Cent, interest on all fully-paid-up shares; also a'further payment to suppliers of 23d per lb on butter-fat from August 1, 1914, to February 28, 1915. The general store had a successful year, yielding a net profit of £470 14s 3d. The chairman, in moving the adoption of the report, referred to the long dry season, which accounted for a deficiency of fully two million pounds as compared with tfie 1911-12 season. Referring to the war and its effect on the cheese industry, the chairman said: “ Cheese prices for the past season have been abnormal, going as high as 100 s pm- cwt: and, though I can safely say that we all deplore the cause of such prices, there is no doubt that they came at a very convenient time for us, as with ordinary prices and the unfavourable season we should have had a very poor return for our year’s working. The thanks of the company were due to the Government, the National Dairy Association, and the shipping companies for the way they rose to the occasion and helped the company out of an awkward position.” The chairman also stated that they had 500 crates of cheese unshipped at the end of this month. The following comparative statistics will be found of interest, those for 1914 being in parentheses:—Pounds of milk, 17,269,537 (18,593.758) —decrease, 1.324,1211 b ; pounds of butter-fat. 655,419 (706.065) —decrease, 50,646 : pounds of cheese made, 1,664.330 (1,705,868) —decrease, 41,538; pounds of butter made, 53,954 (64,406) —decrease, 30,452; pound of cheese from pound of butter-fat, 2.65 (2.63) —increase, .05; pound of milk per pound of cheese, 9.94 (10.09) —decrease, -.15: pound of milk per lb of butter. 21 (21.34) —decrease, .34; overruns, 15 (14) —increase, 1; average test for season, 3.795 (3.797) —decrease. .002; average payments for the season, 18.387 d (14.387 d) —an increase of 4d per lb. LEPPERTON. The twenty-third annual report of the directors of the Lepperton Company shows that the butter made amounted to 84 tons 19cwt 3qr 2!b. Out of a surplus of £1054 3s 9d the directors recommend to pay interest at- the rate of 5 per cent, per annum on share capital subscribed to Juno 30. 1914; to make a payment to suppliers ct 1,4 d on butter-fat supplied for the season"; and to carrv the balance forward. Milk received, 3.885.5921 b; cream, J0.2791b; butter-fat. 166,6161 b: butter made, 190.3741 b; average test, 4.29; overrun, 14.2;; advances, 12.21 d: bonus, 1.40 d; interest. .105 cl 13.716 d. TIKORANGT. The annual report of the Tikorangi Dairy Company is as follows:—Your directors congratulate members on the result of the past season. There is a balance available for distribution which will bring the average Krlce paid for butter-fat to 13£d per lb. Illk received was 6,087,9241 b; cream received. 144,7611 b; butter-fat from milk, 847.9521 b; butter-fat from cream, 51.2961 b; butter made, 344.9611 b; average milk teat, 4.08; pounds milk to produce 11b butter, &.29. The chairman, in moving the adop-

tion of the report, said that the average price received for export butter was 12.8 per lb. and for butter sold for local consumption, 13.6 d. ex store. This, he thought, must bo considered a reasonable price, despite the prevalent opinion that butter had been sold at exorbitant prices. The expenses were the same as last year —.880 per lb. K AIM AT A. Kaimata shareholders were not in the happy position of other concerns. The chairman (Mr C. E. Dobson), in moving the adoption of the report, said that they had sold last year’s output for export at did per lb. At the time they thought this was rather good business, but unfortunately it had proved very costly to suppliers, resulting in a loss of 4d per lb butter-fat through not forwarding on open consignment. Defending the action of the directors. he pointed out that the first year they declined an offer of 6 9-16 d, and on open consignment it realised sjd. The second year it realised sgd, after they had turned down an offer of 63d. Therefore when 6 id was offered last year, they unanimously decided to dispose of the output, and the majority of the shareholders at the time considered that thev had done good business, especially as when New: _ Zealand cheese went on the market the price generally came down. However, as they knew, high prices never previously anticipated ruled. The directors, while losing eaually with the other shareholders, regretted it the more, as they felt that had been placed in a position of responsibility, and had perhaps rot done their best in the shareholders’ interests. Mr George Capper, in seconding, said that when the cheese was sold, for 6 id suppliers were given to understand that this would realise to them Is 3d ner lb for butter-fat. whereas it had realised onlv Is 2id The chairman stated that the expenses had been heavier, and, moreover, the test was higher than the previous year, being 3.9. as against 3 8. In reply to Mr 0. Old. the secretary stated that the company’s liability to ihe bank this year would be £2292, as against £2434 the previous year. Mr P. Burkhardt suggested that the working expenses would be reduced if three larger vats wore installed instead of the four vats at present. After further discussion the report was adopted. MANGOREI. Mr -A. Morton presided over the annual meeting' of the Mangorei Dairy Company, and in congratulating the shareholders on the very satisfactory year, he pointed out that for the first time in the history of the company they were.. in a position to show, instead of a bank overdraft, a credit which amounted to £ll7l 16s 3d. Commenting upon the favourable season experienced in Northern Taranaki last year, Mr Morton remarked that so far as the Mangorei Company was concerned, they had had a record output, and shareholders had benefited considerably thereby. In this connection, however, there had been a great many demands on their pockets. Some of them had done their best in the way of assisting the Old Country by sending those whom they could spare or who were willing to volunteer for active service, and others who were not in this fortunate position had done their best by way of contributions to the various funds which had been initiated since the war broke out. There bad been heavy demands upon the generosity of everybody towards relieving the distress and the misery which had been occasioned by this terrible war, and there would still be heavy demands for this purpose in the future. As shareholders knew, the company held a special meeting, and decided to give i per cent, of its net shipping returns to the Patriotic Fund. At the time there was only one fund in existence—the Empire Defence Fund, —but no payments were made until towards the end of the season. By this time other funds, which were really in far more need of assistance than the Empire Fund, had boon opened, and the directors therefore decided to divide the company’s contribution, representing £l6O. to three different funds. The fund established for the relief of onr own wounded soldiers and the relief of those who had been dependent upon those who fell, required, in the opinion of the directors, first consideration, and therefore £IOO was devoted to this fund—(Applause)—and the balance of £6O was divided. £3O being donated to the Belgian Fund and £3O to the Serbian Relief Fund. WANGAEHU. The second annual report of the Wangaehu Dairy Company showed that the butter manufactured had obtained first, grade throughout,. and carried off the first prize and gold cup at the Now Plymouth Show. The profit and loss account showed a balance at credit of £lO9l 8s 9d. It was decided that a dividend of 7 per cent, he paid to shareholders; that a bonus be paid on the butter-fat supplied during the season of lid to shareholders and Id to nonshareholders. The summary for the season

at the factory was as follows: —Milk, 2,262,8881 b, 87,0501 b butter-fat, 3.84 average test; cream, 133,2181 b, 48,4971 b butterfat, 36.41 average tost. OKOIA. The second annual report of the Okoia Co-operative Company congratulated the shareholders on the successful year’s operations. Home prices had been very good, whilst local sales had been bettor. About one-third of the output was disposed of locally and the butter was now well established on the local market. The balance in profit and loss appropriation account was £1224 9s 4d, and it was disposed of as follows:—Seven per cent, dividend on tho Capital paid to July 31, 1915; a bonus of Igd per lb of butter-fat lo shareholders on their supplies for tho year; that the. balance bo carried forward. The advances to suppliers during the season had averaged a little over Is, and, with the bonus, will make a total payment to shareholders of a fraction over Is l£d per lb for butter-fat. CANTERBURY MARKETS. GRAIN AND PRODUCE REPORTS. (Lyttelton Times, August 14.) Naturally, the Grand National carnival has had a restrictive influence on the market during the current week, many of tho establishments in the city having been closed for several days, and this has had the effect of reducing business, previously extremely small, to the vanishing point. The amount of trade that has passed during the week has been within exceptionally narrow limits, and at tho moment there is no indication that a change for the better is within view. As far as farmers are concerned, trade in wheat may be said to be non-existent, since sometimes days pass without a single line being submitted. Of course, the disinclination of merchants to operate, even at relatively low prices, is anything but encouraging from the seller’s point of view, and to-day it would only be at prices much below the values current a couple of months ago that _ sales could be effected. A number of millers and merchants are definitely off the market, and would purchase only at prices which sellers would refuse to consider. A telegram received from Wellington yesterday staled that there was an inclination to reduce the price -of flour in the south, and that, although £l6 was still the nominal price, £ls would not be refused. Inquiries in Christchurch go to show that this is- the case, and that at the moment there is no fixed price of flour in the city, although £ls per ton can be taken as the nominal figure. Another point is worth mentioning. Telegrams from the Commonwealth announce substanfc’al falls in the prices ruling for bran and pollard, and this has 'had the effect of closing the Australian market to the New Zealand produce, where for some time the Dominion traders found a profitable outlet. One result of the closing down of the Commonwealth market has been to 10 duce prices locally, bran being now quoted at £6 15s, and pollard at £B. The oat market is very languid, and for the nonce virtually nothing is doing, prices being entirely nominal. Owing to a slight advance in the Sydney market, the demand for potatoes has brightened a little, and, whereas at tho beginning of the week bnvers wore difficult to get at £5 ss, to-dav £5 10s is obtainable for parcels for immediate delivery, while in some instances as high as £6 has been paid for lines for delivery later. The offerings are by no means large. It is reported that the Christchurch and Lyttelton stores contain an unusually large amount of potatoes for this season of the year. Little is being done in chaff, and prices have cased, the current quotation being £7 nor ton on trucks. All descriptions of butter have been reduced in price by Id per lb. The following quotations are for purchases from farmers, net cash, sacks extra, delivered at country stations: Wheat (nominal). Oats—A grade Cartons. 4s to 4s 2d; B grade, 3s lOd to 3s lid; Duns, 4s 2d to 4s 6d : Algerians, to 4s 3d. Barley (nominal) —Prime malting, 6s to 6s 3d: medium, 5s 3d to 5s 6d. Peas—Blue Prussians. 6s 4d; Partridge, ss. I Chaff—Bright oatsheaf £7, Bran —£6 15s. Potatoes—£s 10s. Onions —£4 to £4 ss. Pollard—£B per ton. Oatmeal —£23 ner ton. Flour —Nominally £ls. * 1 Seeds (nominal) —Ryegrass, Italian and perennial. 5s 6d to 6s; cocksfoot, 131 b seed, 6|-d to 7d; white clover, farm dressed, Is; cowgrass. 6jd to 7d. Dairy Produce.—Cheese, factory 10gd, dairy (large). Sid; butter, local factory prints, first grade Is 7J,d. second grado_ is 6ad: farmers’ senarator, Is 3d; farm dairy. Is Id: hams, ]od; ham rolls. 10gd; lard pats, iod; eggs. Is 2d per dozen. TTMARU MARKETS. (Christchurch Press, August 14.) •Business is unusually quiet in the local

grain market. Millers are fairly well stooked, and are not keen buyers at present, though prime lines can be disposed of if offered at reasonable prices. A large quantity of American flour is coming to the Auckland and Wellington markets. This was bought on the basis of a specially low freight; but since it was secured tho freight has more than doubled, and it is not considered likely, therefore, that similar shipments will bo repeated. The importation of so much wheat is having an effect on local prices, which have been lowered to meet the competition. During the past three months flour has decreased in price by nearly £3 per ten without any corresponding decrease in the price of wheat. In the absence of any appreciable sales in wheat, it is not possible at present to give reliable quotations. It may be said, however, that with flour down, and a declaration by those who should be in a position to know that there is sufficient wheat in tho Dominion to last until next harvest, the market is not so firm as it was. Chaff is also down, the demand from Australia having ceased. The potato market is steady at about £6 per ton, country stations.