RAGLAN DAIRY COMPANY.

Waikato Times, Volume 104, Issue 17466, 28 July 1928, Page 9

RAGLAN DAIRY COMPANY.

A SUCCESSFUL SEASON SEASON'S TOTAL PAYOUT 1s 6d. BONUS OF 2d PER POUND. Including bonus and carting costs, the total payout made by the Raglan Co-operative Dairy Company for the past season's hutlerfat (superfine) is at the rate of JB.oUid. The average advance payment was 15.389 d, and on August G, tiie date of the company's annual meeting, a bonus payment will be made at the rate of 2d per lb for the whole season's supply. The total of the bonus payments will be just over £4OOO. The cost of cream carting, .02 Gd per lb, brings the total up to 18.004 d. Tho Annual Report. A successful season is recorded in the report of the directors, which states: "The year's operations have been most satisfactory, ;uul have justified the confidence expressed in last year's report, that with •'free marketing" restored, the prosperity of the dairying industry would be more assured. The competition among the mercantile houses for a share in the handling and disposal of New Zealand butter has been altogether in the interest of the sellers "You will notice that the sale of last season's produce realised more than at first anticipated, and that your company paid bonuses of various amounts bringing the final payout up to a total of 16d - , , ore "The output this year reached 2bb ■tons 1 cwt., an increase of 2 tons 9 cwt over that of last year. "On the recommendation of the fa-c----torv manager various alterations to the machinery and plant were carried out last season, and the early part of this season, witli the object of reducing' manufacturing costs. It was also found necessary to purchase a larger , churn, which cost £2OO. You will lie pleased to notice that the effect -of ■these improvements has been a saving of £l9O in the fuel bill and a reduction in the factory wages of £57. "The cream-collecting service has been on the whole both efficient and economical. The average cost including all side roads works out at G'>6d per lb of butterfat, a slight reduction on last year's figure, .GGOd. The Directors arc continuing to assist the more distant settlers by contributing a subsidy to the cost of collecting their cream 10 the past the whole or the cost of cream collecting has been dcfrayed by the company from the general funds. it is intended this coming season, to charge part of the cost to the supplier direct, so that our suppliers may be afforded a clearer comparison of their nett monthly receipts with those supplying other companies. There will, therefore, in future appear on your monthly statements a deduction of id per lb of i of butterfat for cream cartage.

"The season just ended has been in favour of f.o.b. selling, To obtain the highest prices for sales to Canada and elsewhere, we must have the llnest quality of butter; and if our suppliers desire to secure the highest price offering, it is essential they should exercise every care to supply superfine cream. To assist them in this respect your Directors propose running a daily delivery service on the main routes during the summer months.

"The profit and loss account for the year shows a credit balance of £5158 17s,- available for distribution to the suppliers. Your directors recommend a bonus equal to 2d per lb of butlerfat for the whole season, making a total of 18.004 per lb butterfat for superfine quali'y delivered at the factory. "Your directors recommend that no interest be paid on the share capita? this year." The Balance Sheet. The balance sheet shows among assets (in addition to land, buildings and plant):—Debtors, £7725; stocks, stocks, £2032; and shares in Auckland Farmers' Freezing Company, £l5O. The liabilities include £3917 due to creditors and bank accounts, £1452; while there is £42-i5 in the surplus account. The profit and loss account shows sale's ami stocks at £-41,775 and payments for butterfat and carting at £32,3G0, leaving a balance of £941-5, which is increased by discounts to £9434. Against [his there are factory charges £3303, marketing charges £1538 and administrative ciiarges £433, leaving a not balance of £4158. Table of Averages. Further details are shown as follows: Number of suppliers, 148; butterfat received, 492,28G1b5; butter made, 595,9611b5; over-run, 21.059 per cent; butter per lb of butterfat, 1.210 G; average cost of manufacturing lib of butler, 1.33 d; average cost of car-ting cream, .G2d per lb fat. The Directorate. Messrs A. Peart and F. H. Wright (retiring directors) and W. Thomson have been nominated to (he directorate and automatically elected, as there are four vacancies. Another director will have to be electee! at_ the meeting. SUGAR CARGO DAMAGED FIRE ON THE HAURAKI. SYDNEY, July 27. The marine underwriters here have been advised that, a fire damaged a quantity of sugar aboard the Union Company's motorship Hauraki. bound from Sydney to San Francisco via Suva. -