ANNUAL REPORTS

Southland Times, Issue 23297, 6 September 1937, Page 3

ANNUAL REPORTS

MORTON MAINS The annual report of the Morion Mains Dairy Factory Company, Ltd., states;— “Although the weather for the year was somewhat wet, the conditions were suitable for dairying, and compared with the previous season, which was a short one, the output increased by 166 tons.

“The supply of milk showed an improvement which was reflected in a better grade of cheese. The average grade was 92.586—comprising 43 per cent, finest and 57 per cent, first grade. Our cheese was marketed under the guaranteed price scheme, and when the balance of the cheese is shipped, our payout for the season should be slightly over 15d for first grade, which is very little better than we paid for the previous year— With rising costs all round, the directors sincerely hope we will receive a very much higher guaranteed price for the coming season.

“The last shipment of cheese will be somewhat later this year, but we hope it will all be away before the annual meeting. Stocks of cheese in store have been valued at the average price less an amount estimated for storage and charges. The factory has been efficiently managed by Mr G. McMillan, and the buildings and plant are in first class order for the coming season. “The retiring directors are Messrs W. A. Cockburn, A. Halliday and D. Warnock, who again offer their services. Mr F. A. Webb again offers his services as auditor.

TITIROA The annual report of the Titiroa Cooperative Dairy Factory Company, Ltd., is as follows: — “The output for the season was 133 tons, being four tons less than the previous year. Had it not been for adverse conditions during the season the tonnage would have been very much increased. The pay-out to suppliers for the 1935-36 season resulted in the payment being 1/- for first grade and 114 d for second grade, making a seasonal average for first grade milk 1/- a lb butterfat. The advance payment for this season has amounted to 1/1J a lb butterfat. The credit balance in the appropriation account is £329 13/9 and, allowing for dividend to shareholders of 4 per cent, on paid-up capital, the balance available will permit of a distribution to suppliers by way of bonus of .58d a lb butterfat. The unshipped cheese has been valued at 6Jd a lb. The directors recommend a dividend to shareholders of 4 per cent, on paid up capital. The average grade for the season (93.159) was the highest for Southland. Percentages are;—Finest, 71 per cent., first 29 per cent. As payment was made according to grade, this also meant we received the highest price for our cheese. Our manager (Mr Syme) is to be congratulated on the very high standard maintained throughout the year. His success at both the Otago and Southland winter shows also deserves mention. “The retiring directors are'Messrs D. C. Livingston and M. Beattie, jun., who again offer their services. Messrs Reid and Jones again offer their services as auditors.”