DAIRY COMPANY’S YEAR

Wanganui Chronicle, Volume 84, Issue 191, 15 August 1940, Page 3

DAIRY COMPANY’S YEAR

RANGIWAHIA-RUAHINE The following is the directors' annual report to be submitted to the annual meeting of shareholders of the B.angiwahia-Ruahine Dairy Company on Saturday next, in the Rangiwahia Hall:— “The output for the past year was 213 tons, showing a decrease of 8 tons on the previous year, the decrease being due to unfavourable climatic conditions experienced in the earlier part of the season. The company continues to maintain a high standard of quality and this is evidenced by the high grading of 94.64 for export butter and the success obtained at shows which include 5 firsts, 6 seconds, 2 thirds, the points prize at the Hawera show and the points prize for the Wel-lington-Hawke’s Bay section at the Waikato show. Of the total manufacture, 58 tons, representing approximately 27 per cent., was exported, the balance being sold locally and distributed to suppliers. "The cost of manufacture per pound butterfat for the past year was 3.374 d, showing a small increase of .054 d upon the previous season. The /.icrease is due mainly to price increases and partially to the drop in output. The estimated season average pay-out per pound butterfat (all grades) quoted in report for last year, was 16.U34d, and this pay-out was actually made. "No export stocks of butter were held at the close of the year, the stocks for local sale being valued at the wholesale price, due allowance being made for accruing charges. It is estimated that the season average pay-out which should result from the disposal of unsold dairy produce, will be 15.972 d per pound butterfat. "The total amount of cream cartage costs incurred by suppliers individually is £2 16s 3d, which represents .002 d per pound on the total number ol pounds of butterfat received by the company from all sources. “After all stocks have been sold the surplus left in the appropriation account should be £4226 13s 2d, of which the directors have set aside a further £lOO to the plant and machinery reserve and £25 has been transferred

from general reserve to plant and, machinery reserve. The directors recommend that the balance av.liable for distribution be distributee as follows:—(1) To pay a dividend of 3 per cent, on paid up capital; (2) to make a deferred payment of 21d per pound of butterfat supplied during the season, making a season pay-out of 16d per pound finest buttenat. "The factory and plant have been maintained in excellent repair, and appreciation of the work of the staff in runing the plant efficiently and economically and in producing hign quality, are expressed. "Messrs. D. T. Couper, S. A. Meads and A. McDonald retire by rotation from the directorate and oiler themselves for re-election.’’