HIGH GRADING POINTS

Sun (Auckland), Volume IV, Issue 1027, 18 July 1930, Page 11

HIGH GRADING POINTS

SUCCESS IN OHURA VALLEY BUTTER OUTPUT HOME MARKET POSITION From, Our Own Correspondent TAUMARUNUI, Today. In their report, to be presented at the fourth annual meeting of shareholders of the Ohura Valley Co-opera-tive Dairy Company, Ltd., at Mattere on August 2, the directors announce an increase in the butter made during the season ended May 31, compared with the quantity in the previous seaThe total made was 450,9481 b, an increase of 44,8361 b. Of the total output of butter, 81.1 per cent, was graded finest, and 18.9 first grade, no second grade being manufactured. The average grading points for the season were 93.08, a figure indicating a very satisfactory position, due largely to the efforts of the manager and the staff and the use of a filter, installed early in the season, in improving the water used in making butter. %

As in past seasons, the whole output was sold on consignment., and exceptionally low prices ruled during the greater part of the season. The first .of the company’s butter was sold in the early part of November at 1735. and, from that date until April, when as low as 120 s was quoted for New Zealand butter, there was a steady decline in prices. Since then, the market had recovered slightly, though the outlook was not bright, and, until the economic position of Britain improved, high prices could not be expected.

The amount available for distribution is £587 14s sd, and the directors recommend allocation in the payment of a dividend of five per cent, on the amount paid up on share capital, a. further payment of Id a lb on butterfat supplied in March, April and May, and the carrying forward of the balance of about £6O.

The retiring directors, Mr. C. J. Ryan and Mr. C. E. Stewart, are eligible for re-election.