N. Z. DAIRY CO.

Waipa Post, Volume 41, Issue 3188, 14 August 1930, Page 5

N. Z. DAIRY CO.

SUCCESSFUL YEAR’S OPERATIONS. BONUS PAYMENTS TOTAL £353,623. HAMILTON, Wednesday. In commenting on the operations of the New Zealand Co-operative Dairy Company, Limited, for the year ending 31st May, 1930, Mr C. J. Parlane, general manager, said that a most successful season had been experienced. There had been a substantial increase in the manufacture of all commodities. The increase of 5256 tons of butter during the season clearly demonstrated the confidence which suppliers had in their company. Following its usual policy, with the exception of butter and cheese sold to Canada and the East, all produce exported was shipped on consignment, with the result that owing to the continuous fall in prices throughout the season the returns received for the produce on the British market were not as favourable as those available to f.o.b. sellers. In view of this the results as disclosed in the directors’ report must be particularly pleasing to suppliers. Throughout the year the company continued its policy of assisting both its suppliers individually and the industry generally in every way possible. The calls for finance had been particularly heavy, but, notwithstanding this, the company had been able to meet all reasonable demands for finance to purchase dairy cows and fertiliser’. In this regard it was interesting to note that the saving to suppliers on account of fertilisers purchased through the company since the Challenge Company was established amounted to £61,000. It was therefore evident that the saving which the company had made available to all farmers in the North Island must now reach very big figures indeed.

Mr Parlane said that the bonus payment to butter suppliers, of 13-16 d per lb of butter-fat, totalling £353,623, would be paid, as usual, on 31st August. After providing for Id per lb butter-fat, shareholders’ bonus over the season, the balance would be paid over the months of January to May inclusive.