NORTH TARANAKI DAIRY FACTORY COMPANY.

Taranaki Daily News, Volume L, Issue 61, 8 November 1907, Page 3

NORTH TARANAKI DAIRY FACTORY COMPANY.

| At the annual mooting of suppliers of II tho Is'orth Taranaki Dajry Company, hold at Onaero 011 Monday evening, the Chairman of Directors (Mr. g, Elliot) presiding, the report presented stated that the total amount of milk received was 2,223,9131b, from which was obtained 88,0531b of butter fat; the quantity of butter manufactured was 97,2(15 lb'(43 tons Bc\vt lilllj), 22.8711) of mill; being required to make lib of butter, tho average price realised being 10.C3d per lb. The sum of £3257 IBs 7d was paid to the suppliers of milk, being at the rate of Oil per lb for butter fat from September, 100(1, to March, 1007, and B'/«d from April to August, 1007. The average test for the year was 3.06. The sum of ,€lO2 (is lid was written off the plant and buildings for depreciation. The profit and loss account showed that butter sold realised £4300 8s 3d, which witli buttermilk ;CG 3s and balance brought forward of XSS made a total ' credit of £4307 13s 3d. Of this the sum of £3257 10s Od was paid to suppliers, the usual ronninj expenses were •C 1037 0s Od, and X 11)2 (is lid was written off for depreciation. Messrs. Fitton and McCormick were elected directors, vice .Messrs. G. X. Skelton and A. Graham, who retired, and Mr. .1. D. Wyllie auditor. It was resolved

that no interest shall ITc paid 011 the amount of sliare capital subscribed; that the net profits shall be paid to the suppliers in proportion to the milk actually supplied or contributed by them; that one farthing for every pound of butter fat delivered be deducted from suppliers, such deduction to be placed to the credit of a sinking fund account for the purpose of reducing the liabilities to the bank, but the directors may use the whole or any portion of such sinking fund for the purpose of writing off depreciation from tlnj company's prooertv. ' —Mail. * "