Rangitikei Dairy Factory (Bulls) Has £15,023 For Disposal

Wanganui Chronicle, 30 June 1948, Page 2

Rangitikei Dairy Factory (Bulls) Has £15,023 For Disposal

A decrease of nine per cent, or 74 tons of butter during the season ended March 31, 1948, when compared with the previous year is revealed in the annual report of the directors ot the Rangitikei Co-operative Dairy Co., Ltd. The production for the year just finished was 700 tons compared with 774 tons in 1947. The report states that the past season was a record dry one, the dry period extending from the end of October to .the middle of April. It caused great difficulties from the want ot green feed and an acute shortage of water not only for stock but also of water suitable for washing purposes in the sheds. “The dry wealtier was also responsible for some concern as to the supply of electricity. Dairy farmers have been gradually coming to depend on electric current for power and heating water, and it is most essential to the industry, and also to the Dominion as a whole, that those engaged in the production of butterfat should be certain of the necessary supply. “The thanks of shareholders are due to the staff for the efficient way in which they have carried out their duties. “Farm allowance costs amounting to £7909 13s 9d were paid to suppliers during the year.

“Taking export butter, for which account sales had not been received at balance date, at the fixed price and the butter for local sale on hand at Is Slid, plus differentials, there is a surplus of £15,023 for disposal,” states the report. “The directors recommend that a further payment of 24d a pound butterfat be made to all suppliers holding their full quota of shares in the company and that a dividend of 3 J per cent, be declared on paid-up capital.

“The further payment absorbs £14,701 and the dividend £lO5, leaving £217 to be carried forward. “The estimated average payment a lb. of butterfat (all grades) fo rthis year which should result from the disposal of unsold dairy produce at the values given above is 2s 2.13 d. Adding to this 1.479 d a pound, the aver ; age farm cost allowance, makes the average return to suppliers equivalent to £ll5 Is 5d for each lOOOlbs. ot butterfat compared with £9l 5s lOd in the previous year. “It is with extreme regret that the directors have to advise shareholders that Mr. W, Purcell is not eligible for re-election as a director. He was first elected in 1919 and since that day, 29 years ago, has given freely his time and knowledge for the running of the store at a time when it was just holding on, and by his close attention to the business he has placed it in the position it is today, a very useful and financially sound branch of the company. His place will be bard to fill and his fellow directors will miss his help in their work. As four nominations have been received, a postal ballot is necessary, and the result will be annaunded at. the annual meeting,'