Eureka Co-operative Dairy Company.
ANNUAL REPORT
The following report and balance sheet will be laid before the annual general meeting of shareholders to be held in the Tauwhare Hall on Friday next, 31st inst: — The directors, in submitting for your consideration the fourth annual report and balance sheet, desire to express their satisfaction with the operations of the season, and congratulate the shareholders on the results obtained. The quantity of milk received for the season was 5,880,0681bs and it took an average of 24.811bs to make lib of butter. Advances were made on 216,4791bs of butter fat. Butter sold and in stock amounted to 236,9921b5., and for each lb of butter fat 1.09471 bs of butter was made. Suppliers have already been paid for their butter fat at the rate of 8d per 1b—£7215 19s 9d, and after providing interest to the shareholders on Iheir paid up capital at the rate of 5 per cent., there remains a surplus of £2960 10s lud, which your directors propose to distribute as follows: (a). Payment of a bonus to suppliers of 3d per lb on butter fat—£27os 19s 9d, making a total payment for the season of lid per lb; (b). The balance we would recommend to be written ofT plant and buildings, as follows: 8 per cent off plant and machinery, and the balance off buildings for depreciation. The Directors regret that owing to ill health their manager, Mr W. G. Jackways, has resigned. They have appointed Mr K. 0. Campbell to fill the vacancy. You will be asked to elect directors-to take the place of Mr J. L. Roche, who retires from the directorate, having left the district; also Messrs James Shaw and J. R. Hetherington, who retire by rotation, but are eligible for re-election. The appointment of an auditor will also require your attention. Mr Panton's services will again be at your disposal.—J. L. Roche, Chairman of Directors. of accounts:—Capital account: To 5000 shares at £l, £SOOO. By shares issued, £1720; by balance due on same, £67 3s Id; total, £1652 16s 11; by amount unpaid on shares issued, £67 3s Id; shares unallotted, £3280; Total, £SOOO. Liabilities and assets: To Bank of New Zealand, overdraft 30.6.08, £782 14s 4d; unpresented cheques 30.G.08, £146 lis 3d; total, £929 ss7d; to interest accrued, 30.6.08, £l9 8s 6d; to shareholders' capital 1907, £1396 8s 9d; to shareholders' capital, £I9OB, £256 8s 2d; £1652 16s lid; to sundry creditors, £29 2s 3d; to balance to credit, profit and loss account, £3030 7s 3d; total, £5661 0s 6d. By land, £3ll 15s 9d; by buildings, £1214 10s lid; by plant, £2315 lis 3d; by butter in stock, 30.6.08, £917 8s 6d; by stores, coal and boxes on hand 1908, £74 lis sd; by sundry accounts owing for butter 1908, £742 12s Id; by amount owing by Eureka suppliers for road works, to be deducted from bonubes, £l6 9s; by cash in hand, June 30, 1908, £6B Is 7d; total, £5661 Os 6d. Receipts and expenditure: To milk account amount paid to suppliers, £7215 19s 9d; to working expenses — wages, £502 0s sd; repairs and maintenance, £49 5s 7d; coal, £l7l 9s lOd; boxes, £234 4s6ci; ratea and taxes, £9 6s 3d; office expenses, £3O lis 3d; sundry expenses, £42 13s sd; stores, £l7B 14s 9d; insurance, £34 7s 3d; commission, £7 lis 8d; railages, £9B 16s 9d; shipping charges, £3 17s 9d; freezing, £99 2s 3d; cartage, £126 12s 2d; interest and bank charges, £lO3 10s Gd; exchange, £l2 12s; loss last season's butter in stock, 30.6.07, £6 Is 7d; balance profit, £3030 7s 3d; total, £11,957 4s lid. By batter account, £11,929 4s lid; by butter milk account, £2B; total, £11,957 4s lid.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/WAIGUS19080727.2.12
Bibliographic details
Waikato Argus, Volume XXV, Issue 3844, 27 July 1908, Page 2
Word Count
621Eureka Co-operative Dairy Company. Waikato Argus, Volume XXV, Issue 3844, 27 July 1908, Page 2
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