FARM AND DAIRY.

Taranaki Daily News, 16 August 1916, Page 3

FARM AND DAIRY.

j . „ j HANGATOKI 'DAIRY CO j The annual report of the directors of i the Mangatoki Co-operative 'Dairy Co., | Ltd., is as follows l : —Your directors have ;to report a record season for output, | and although a -considerable quantity of i cheese is on the way and unsold, there lis little doubt that the average price I for 1915-16 produce will exceed that realised heretofore. Shareholders will realise that war conditions have created an unprecedented position in our overseas transit of produce, and while bo many of us have sons, relatives and friends risking, and in many cases laying down their lives for the .preservation oi our common humanity, we should hear in patienee possible monetary set-backs. Altogether •29,GSC : ,81(llbs of milk were received, giving 1,118,4f111bs of butter-fal, from which 52 tons 12ewt Sqra 111b of creamery and 21 tons lOewt of wliev butter, and 1203 tons Tcwt 2qr 191b of commercial cheese were manufactured. The average test was 3.77. After writing off £2OOO 12s Id for depreciation. there remains a sum of £0279 to he dealt with. Your directors recommend the payment at the rate of 5 per cent, per annum on all paid-up share capital, absorbing £55? 2s 4d, and that the balance be paid as a further payment on butter-fat supplied during the season. This sum will be further supplemented by the unsold stocks realising more than the 70s f.o.b. price, at which the same have been valued. Shareholders will recollect that at the last annual ordinary general meeting of the company a sum of some £3OO, collected from shareholders by means of >/. per cent, deduction f r om the milk cheques' for that year was set aside by the unanimous vote.of shareholders for further consideration at a future meeting. This amount has now, with accumulated interest, reached £3l(> 7s 2d. Your directors recommend that the same be handed over to the Elthain Patriotic Committee for disbursement on lines which will be submitted to shareholders. Upon the urgent representation of the Government Dairy Department, your directors, in common with other cheesemaking dairy companies of the Dominion, have taken up the question of the manufacture of rennet for cheese-making purposes. Further developments in the baconcuring business are the subject of negotiation at the present time, the same being, in the unanimous opinion of your directors, calculated to benefit the genuine bacon producer as well as this company's interests as a shareholder.