NORFOLK DAIRY COMPANY.

Waikato Times, Volume 98, Issue 16086, 9 September 1924, Page 6

NORFOLK DAIRY COMPANY.

A SUCCESSFUL SEASON. The annual report of the Norfolk (Motumaoho) Co-operative Dairy Co., Ltd., shows that the company has had another successful season. The butterfat for the season shows an increase of 11.5331 b. on the previous season, and the amount of cheese made was 442 tons. At the beginning and end of the season separating was carried on for a time. The season was a record one for butter-fat received and cheese made. The average payment for the season was Is 4.G24d, and a further Id per lb. butter-fat will be paid at an early date. It is also anticipated that an additional bonus will be paid when the final figures for the year's sales come to hand. The balance available for distribution is equal to 1.259 d per lb. of butter-fat, and as the estimates arc considered to be on the safe side this figure may be increased. During the slump in the London market the company held a considerable quantity of cheese in store, and the result shows that this policy was fully warranted. The old factory was dismantled towards the end of the season and a new one erected. The directors have endeavoured to make the new factory as up-to-date as possible, and at the same time it has been built at a reasonable cost. The directors recommend the payment of a dividend of 5 per cent, on the amount of paid up shares at June 30, 1923, and to transfer £IOO to the building reserve account. The directors retiring by rotation ore Messrs Lambic and Douglas, who arc eligible for re-election.