HINURA DAIRY COMPANY.

Putaruru Press, Volume V, Issue 176, 17 March 1927, Page 6

HINURA DAIRY COMPANY.

MEETING OF DIRECTORS. February Payout. The monthly meeting of the direct- ' ors of the , Hinuera Co-operative j Dairy Company Ltd. was held at Hinuera on Thursday. Present : j Messrs. J. E. West (chairman), P. ! Corry, H. C. Pond, M. E. Gould, S. 1 A. Clarke, T. Corry, H. Hopkins, and the secretary (Mr. W. A. E. Leonard). , The company decided to pay out ' Is Id per pound for the February butterfat. The company’s payouts for the past j

r nine months have been as follow: | Non-Control.—June Is 3d, July Is 3d, August Is 3d. [ Controlled Butter.' September, j October, November, December, JanI uary and February, Is Id per pound, j Suppliers may be somewhat puzJ z’ed to understand how the Hinuera * Company can pay out Is Id per pound j for February supply when the Con- , Board’s advance is only £2 10s j per box, or lOd per pound, especially , as not only all the February butter j ls piled up in store, hut half of the j January output, which is not yet J shipped. The company pays its suppliers, on the 20th of the month, for butterfat supplied during February, ! with the present monetary value of lOd per pound. This state of affairs I of course means that the company is j doing its best to assist farmers i through a period of great uncertainty and severe stringency by financing ! them to the extent of 3d per pound. This assistance is rendered possible 1 only by the company’s sound finan- . cial position, the whole of its underI takings being covered by paid-up 1 capital, and thus the company is trading without any permanent overdraft. It is expressly to meet such ! a contingency that the company has | pursued a consistent policy of con- | servative advances. It will have J been noted that, prior to the Control j Board taking charge, the Company I paid out Is 3d, and since then Is Id. , The prices of course are nett easily clear of all deductions.