BUTTER INCREASE

Sun (Auckland), Volume III, Issue 750, 24 August 1929, Page 13

BUTTER INCREASE

PIO PIO COMPANY’S YEAR RISING OUTPUT (From Our Own Correspondent) TE IvUITI, Friday. . For tho year at the Pio Pio Co-opera-live Dairy Factory, the butter output increased by 40 tons. More than 90 shareholders attended the auual meeting yesterday, Air. P. PI. Wall, chairman of directors, presiding. For the past three years, the report said, the increase in production was 130 tons. The pay-out for the season would be Is 5.42 d a lb butter-fat net. The company was successful in winning the Davidson Cup outright and gaining second place in the Weddell Cup competition The trading account made a profit of £sll, and there was a credit balance of £2,014. The average grade for the season was 94.115, and the cost of manufacture, including boxing, was .89d. Interest at the rate of 6 per ;ent. was paid on capital. The chairman stated the company’s assets were valued at £7,500, and the factory and plant were free from debt: The staff was congratulated on its work. Messrs. Neal and Buckland were reelected to the directorate, and Messrs. A. G. Plonnor and W. G. Topp tilled the vacancies caused by the retirement of Messrs. Wale and Fulcher. Mr. N. D. Jones was elected chairman of diin the evening the annual reunion of shareholders was held at a smoke concert. The work of the retiring chairman, Mr. Wall, was praised. HIGHER PRODUCTION MORRINSVILLE’S FIGURES (Special to THE SUN) MORRIN SVILLE, Today. Dairy companies In the Morrinsville district are Having the benefit of increasing supplies. The past month’s returns, with those of JYily, 1928, in parentheses, are:— Morrinsville. Butter-fat, 58.1371 b (43,7001 b); pay-out., Ijs 55{d; a lb (Is 6^d); distribution, £4.289 16s 4d (£3,231 8s Id). Tatua (Tatuanui). —Butter-fat, 11,5701 b (13,7561 b): pay-out, Is 5d (Is 6d); distribution, £652 (£1,031). Sunny Bark (Te Poi). —Butter-fat, 6,5741 b (6,9041 b); pay-out, Is 6d (Is 6d); distribution, £4BB (£485). Norfolk (Moturaaolio). Butter-fat, 7,1371 b (6,6751 b); pay-out, Is 5d (ls9d); distribution) £505 (£584). COMPANIES’ YEAR NORFOLK AND SUNNY PARK (Special to THE SUN) MORRINSVILULE, Today. Butter-fat at the Norfolk (Moturaaolio) factory in the past season increased by 41,6701 b oyer the amount in 1928. The average payment for the season was Is 6.lid a lb butter-fat, and a bonus of Id a lb butter-fat will be paid this month on supply from January to June inclusive, and a further payment will be made when realisations for the season are completed. The directors recommend a dividend of 5 per cent, on the amount paid up on shares to June 30. On valuations made the final cheese payment will be Is 7.03 d a lb. The average test for milk was 4.18, against 4.1 last year. Of the three directors retiring by rotation, Messrs. S. Ferguson/ H. McIntosh and A. Scrivener, the first two are seeking re-election. Payments for the year to suppliers to Sunny Park factory averaged Is 4.76 d a lb butter-fat for butter, irrespective of grade, and Is 5.94 d for cheese. Available balances represent I.Bd a lb for cheene and 1.36 d for butter. In the bonu? payments at the annual meeting, for butter supply, Id a lb will be paid on the season’s butterfat, and, on the cheese supply, threefa riflings on October-January supply and lUd on February-May supply. Messrs. C. A. Stopford and C. IT. Dearlove, the retiring directors, seek re-election. The directors recommend a dividend payment of 5 per cent, on the amount paid up on shares at June 30.