COLLINGWOOD DAIRY COMPANY.

Colonist, Volume LVII, Issue 13873, 15 September 1915, Page 3 (Supplement)

COLLINGWOOD DAIRY COMPANY.

A PROSPEROUS YEAR

(Fiom "The Colonist." Aug. 26.)

The balance sheet for the Collingwood Co-operative Dairy Company, Ltd., for tho year ended July 31st, discloses a very satisfactory state ot affairs,- a net profit £3520 having been made. The directors in their report point cut that "the past year commenced shortly after, the beginning of the great war, and at that time the outlook for the fiuture was anything but promising. With the enemy's cruisers in all directions, it seemed that there might be very considerable difficulty in getting produce to the Home markets, and even if it reached there, there was great uncertainty as to the prices that might be realised. We had at this time an offer made to us of 6sd per lb., f.0.b., Wellington. After giving tho matter much consideration, it was decided to sell half the output at this price, and to take our chance with the remainder, although there were many who thought that under the circumstances it would have been better for us to have disposed of the wholf. at this figure, which showed a good margin of profit. It was, of course, quite impossible for anyone to have foreseen that cheese would reach tho phenomenal prices at v/hich it has since been sold, but you haive the benefit of these prices for half the output, which we hope you will consider satisfactory. The season commenced cany in September and closed in June. At the Rockvillo factory 141,796.10 of butter-fat was dealt with, producing 375.96Q1bs of cheese (2.65), and at Ferhtown 47,276.33 of butter-fat, producing 122,9-l9lbs. (2.60): the average grade at both factories being 91^. /h«o shilling per lb. has been paid during the season, and we have decided to deal with the amount standing to the credit of the Profit and. Loss Account in the following manner:—Subject to >our confirmation at the general meeting, we intend to pay 5 per (tent, interest on the paid-up capital ot the Company, and Ud per lb. to the shareholder suppliers. Messrs ,W. Sonmgeour and ft. P. Bile*,- $» tirinS directors, seek re-election.