GOLDEN BAY BAIRY CO-OP.

Colonist, Volume LXI, Issue 151035, 29 July 1919, Page 6

GOLDEN BAY BAIRY CO-OP.

ANNUAL MEETING. (From Our Own Correspondent.) The seventeenth annual mooting of the Golden Bay Dairy Co.-Op. Company was held at Takaka on July 28th, when the balance-sheet and directors' report on the past year's working'were placed before the shareholders. The unfavourable season experienced last year was responsible for a slight decrease, some 16 tons, in the outmrf of butter, but the results of the year's | trading showed a substantial profit, and a very healthy state of affairs was disclosed. During the past year 5,338,----4o <lb of milk and 428,1151b of home separated creair. was purchased, from winch was manufactured 187 tons of commercial butter. The grade notes averaged 92.72 points. Suppliers received as advances on "butter-fat supplied as follows:—August and' September 3s 3d October to April l s 2d, and Al ay Is od, averaging Is 2d per lb for t.ie son son. The neb profit for the past ■••oar was £6732 5s lid, ami there was a credit balance carried over from the previous year of £265 16s 6d. On the directors' recommendation the! sum available'was dealt with as follows : j (1), To pay a C per cent, dividend"on paid-up capital. (2) Bonus to suppliers-of 4 l-3d' per lb on butter-fat supplied.' (3) 5 per cent, of value of building account to be placed to building reserve ! (-4) 5 per cent, of book debts to re. serve for bad debts. (o) The staff to receive an 8 per cent bonus on salaries and wages f fSS^/,6o^^ last year the ™ of £20,822 15s 9d for advances, and the sa*Q7 *Ovv <^ eclare/* means a further £6397 Is sd, so that the factory has fe nAJn c s mT 8, of distributing some ■^.i ° for fcweJve months' operations t iHr two retirin £ directors, Messrs Jeff Manson and J. D. Hambrook were re-elected, so the personnel of the di-l rectomte remains the same as last year Mr EC. Wadsworth, lately buttermaker, has now been promoted to the [position of manager, vice Mr J. Cook 'resigned; and Mr J. D. Edgar now fills the position of secretary recently vacated by Mr Thos. Cook. As the Nqw Zealand Government still has control of the butter industry things promise to jog alone; .about the same for the coming season. An early Fn-.riucr is ardently hoped for as feed is abormally short this winter.'