FINAL REPORT

Waikato Times, Volume 125, Issue 20887, 19 August 1939, Page 10

FINAL REPORT

RAGLAN DAIRY COMPANY VOLUNTARY LIQUIDATION SEASON’S QUALITY A RECORD (Special to Times) RAGLAN, Saturday The closing stages of the existence of the Raglan Co-operative Dairy Company, Limited, have been reached by the presentation of the 34th and final annual report by the liquidator, Mr Sydney Darby. The company has gone " into voluntary liquidation >»nd the shareholders have transferred their supply to the New Zealand Co-opera-tive Dairy Company’s Frankton factory. In the report the liquidator, Mr Sydney Darby, states that at an extraordinary general meeting held on June 26 it was resolved to wind up the company voluntarily. Since then steps had been taken to realise the company's assets as quickly as possible and" to the best advantage. At the present time practically the whole of the company’s machinery had been sold. Dealing with the operations of the company for the year ended May 31, Mr Darby said there was a further tor. the season's make amounting to 429 tons, compared with .‘*23 lons for 1937-38. A record had been established for Ihe quality of the company's output, the average grade for the export season being 91.047 points. Of the total output for the year 94.71 per cent, had been graded for export and of this amount 70.60 per rent rcrcived the Government premium for grading 94 points and over. The costs showed a considerable increase as compared w:;!i the previous year owing to the reduction output. and also to the fact that no deduction had been made for cream cartage from advance pay-ucn'.s. Average Payment Mr Darby said the estimated average pay-out a lb. of butter-fat over all grades was 14.5208 d, and the actual pay-out was 14.523 d. There was £4385 available for distribution, and a payment for I 5-16th of a penny on all* butter-fat received during the seasun had been made. The accounls showed a hdiil average butt fat payment. irrespective of grade, of 1 3.r,296,1 a lb. clear of cartage costs. On the basis of finest qualitv butterfat delivered at the factor? the total would bo 16.33 d. Cream cartage costs equalled .017 d a lb. on the total supply. No interest on share capital would be paid during the year.