DAIRY FACTORY REPORTS

Southland Times, Issue 23288, 26 August 1937, Page 16

DAIRY FACTORY REPORTS

OTAUTAU The directors of the Otautau Dairy Factory Company report as follows: — The final payout for last season on the average for all grades was 11.60 d a pound butterfat. The average payments for all grades this season have been 13.97 d a pound bqtterfat and it is estimated that a further Jd will be paid, making a total of 14.47 d a pound. In forming this estimate, the dairy produce unshipped at balance date has been valued on the scale of prices guaranteed by the Government after making allowance for estimated charges until time of shipment. The intake of milk during the past season shows a slight reduction on that of the previous season. Of, a total of 5309 crates of cheese sent to cool stores for shipment 401 crates, approximately 7J per cent, graded finest; 4804 crates, approximately 90J per cent, graded first and 154 crates or slightly under 2 per cent graded second. The total quantity of cheese produced during the season was 875,4451 b, equal to approximately 390 4-5 tons. As suppliers are all aware, the industry this season has been working under the guaranteed price scheme of the New Zealand Government so that the price realized has not depended on the efforts of the directors in marketing the cheese. It would appear from the report of values in Britain that the prices realized for cheese are greatly in excess of the Government guaranteed price. The Government, however, has promised that the representatives of the industry would be consulted on the distribution of any surplus and it is confidently anticipated that a substantial sum will be returned to the industry for distribution to the various suppliers. The factory continues to be efficiently managed by Mr A. Beange. The directors desire to thank Mr Beange and his staff for the satisfactory manner in which they have discharged their duties. The directors have decided this year to recommend a dividend to shareholders of 4 per cent on their paid-up capital as a charge on the appropriation account. They further recommend that the sum of £204 be transferred from the appropriation account to the reserve account and that the balance of the appropriation account, together with any further realizations from last season be distributed to suppliers as an extra payment on last season s butterfat. The director to retire by rotation is Mr A. Gould, who is eligible for re-election. WRIGHTS BUSH The annual report of the directors of the Wrights Bush Dairy Factory Company states: In last year’s report, owing to sales of cheese not being completed, it was not possible to estimate the final payment for butterfat for the 1935-1936 season. This was l/0.61d. The payments of butterfat this season have totalled l/1.49d a pound over the season, and it is estimated that a further IJd will be paid, making a total of l/2.74d a pound. In forming this estimate, the dairy produce unshipped at balance date has been valued on the scale- of prices guaranteed by the Government after making allowance for estimated charges until the time of shipment. The intake of milk for the season is considerably greater than that of last season, the increase representing over 5 per cent. There was produced during the season 865,5251 b, equal to 386 2-sth tons of cheese. Of a total of 5278| crates sent to cool stores for shipment, 26834 crates, approximately 50.8 per cent., graded finest; 2580 crates, approximately 48.9 per cent., graded first; and 15 crates, approximately 0.3 per cent., second. The factory continues to be efficiently managed by Mr G. Knox. The directors desire to thank Mr Knox and his staff for the very satisfactory manner in which they have discharged their duties. The directors have decided, this year, to recommend a dividend to shareholders of 4 per cent, on their paid-up capital as a charge on the appropriation account They further recommend that, after making the final payment to suppliers for the season, any balance remaining in the appropriation account be transferred to the reserve account.

The directors retiring by rotation are Messrs T. McKenzie and J. Smith. Mr A. W. Clark has handed in his resignation as from the date of the annual meeting, and the vacancy will require to be filled for the remainder of the term; but Messrs McKenzie and Smith are eligible for re-election.