OKOIA CO=OP. DAIRY COMPANY.

Wanganui Chronicle, Volume LX, Issue 16718, 12 August 1916, Page 2

OKOIA CO=OP. DAIRY COMPANY.

The annual meeting of the . Company was held at Okoia on 27 th July bct'ore a large meeting of shareholders. The chairman referred to the Company's excellent position after three years' existence, the total extent of the Company's liabilities to creditors being only £86, wliilst the assets amounted to £259 8. Preliminary expenses had been written off entirely and depreciation had been written off plant and buildings each year.

The butter turned out has been of excellent quality and has been miuch sought after for the local market.

Exportable surplus was placed on consignment with Messrc Beattie and Co., whose returns have been very satisfactory.

Messrs J. C. Paterson and A. Macintosh retired from the directorate by rotation. Mr. Paterson' having joined the Expeditionary Forces, did net seek re-election and Messrs Macintosh and Watson were elected to fill the vacancies.

An amount of £1300 Is 4d was shown as available for distribution. It was decided to pay a bonus of l%d to shareholders, making Is 3X A for the year, and % d to non-sharehold-eru, also to pay a dividend of 7 per cent on the paid-up capital and to carry the/balance, about £1150 forwurd. £76 had been donated to the War funds during the year, and the directors have added to this by donating their directors' fees (£35) to the same purpose, making a total of £111 given for Patriotic purposes. The factory has been renovated ami additions and improvements made to the refrigerator and other plant, delaying the opening of the season for a few days. Cream and milk will be received from suppliers o.i Wednesday 16th. instant, on which date the factory opens.

Prospects for the coming season are very good. Directors have disposed of their August and September exportable surplus at the excellent price of Is 5d per lb, Wanganui. It is intended to consign the balance.