DAIRY INDUSTRY.

Waikato Times, Volume 102, Issue 17168, 2 August 1927, Page 11

DAIRY INDUSTRY.

RAGLAN CO-OPERATIVE CO. REVIEW OF THE SEASON. ' INCREASE JN PRODUCTION. Considering the ruling prices for produce, ihe Raglan Co-oi.orsifivo Oairv Company is able to record a : successful 'year, and the. 22nd annual report reads as follows: — • "The. past season has not been a vcrv profitable one for the dairy farI mer. It is now generally acknowledg- ; ed I hat the policy pursued by the Coni trol "Hoard had the effect of creating !an unfavourable impression on the I dealers in our produce at Home, with i the'result that there'was not the accustomed demand for. New Zealand ! butter, and consequently the prices realised by the sale of our produce were less than anticipated. With the exception of those dairy companies which were exempt from "absolute control," all the butter factories fell the effect of the decline in prices. ] "Now that fr.ee marketing has been ; restored, we may look forward to the future with more confidence. The final results of last season's transactions appear in -the butler suspense ■account. The usual seasonal rise did not take place in the autumn, but on the contrary there was a slump unprecedented at that time of the year. This has not affected the financial stability of the company, as the loss is being borne by those suppliers who have been over paid in advances. "In other respects the Company has experienced a prosperous year. The butter manufactured amounted to £63 tons 12 cwt., —an increase of 34 tons over last year's output. The quality has been well maintained, the average grade being 92.454. "There has been a reduction in the cost of collecting cream, which is now .6G7d or two-thirds of a penny per lb. of butter-fat. Last year the average cost was .772 d. When we take into account the distance much of the cream has to be brought, and the assistance given to suppliers by subsidising the carters on the side roads, the cost is remarkably low. Profit and Loss. "The profit and loss account shows a credit balance of £1992 (Is 8d after allowing for ail expenses, and writing off £207 lis -id for depreciation. Your directors recommend a payment, equal to lid on the winter pool and .90d on the summer pool. This will bring the total average payment for .the first or winter pool, io 15.49 or is aAd per lb. of butter-fat for superfine cream, delivered at the factory; and for the second summer pool to 14,5 Gd or Is 2Ad.' There is a possibility of a fur-' ther small payment from the Control Board on the final settlement for the season.

"Your directors recommend thai no interest be paid on the share capital this year. A new pasteuriser was purchased during the year costing £209, also a water healer, and other renewals and improvements made to the plant. "The following directors retire by rotation and are eligible for re-elec-tion: Messrs. J. Donn, C. W. Ralfe, and W. G. Vernon. It will also be necessary to elect an Auditor.

The number of suppliers during the season was 152 and 492,9511 b of butter-fat were received, 590,4691 b. of butter being made, butter per lb of butter-fat being 1.19.78, the overrun was 19.782 per cent., and the average manufacturing cost of butter 1.40 d lb., the average cost of cream cartage being .GGd per lb fat. No unsalted butter or cheese was manufactured by the company during the year ended June 30, 1927. New Proposals.

The following notices of motion have been given for consideration at the annual general meeting of shareholders to be held on August S; (a) That this meeting of shareholders requests the directors to investigate, and if thought advisable, adopt the ward system of electing directors.

(b) That the nominal capital of the company be increased from £IO,OOO in 5000 shares of £2 each, to £13,000 in 6500 shares of £2 each, by the creation of an additional 1500 shares of £2 each, such new shares to rank pari passu with existing shares.