Butter Output Down by 215 Tons at Tumut Factory
2 November 1945 Cootamundra Herald
Owing to severe, drought conditions during the past year, butter output at the Tumut factory was only 463 tons - a decrease, of 215 tons, as against the output of the previous year.
These figures were revealed at the 43rd annual meeting of shareholders, of the Tumut Co-operative Dairy Co., Ltd., held at Tumut.
The average payment to suppliers was 19.51d per lb., showed an increase of 0.71d as against, the price paid for the preceding 12 months.
The total amount paid to suppliers for the 12months was £84,437, which includes Commonwealth Government subsidy of £20,788.
A nett surplus of £9/18/4 was disclosed as the result of the factory trading.
Total sales in the store department (the business purchased from Mr. F. L. Baker, about 18 months ago) amounted to £82,485 as against £61,749, last year, and although a considerable portion of this increase was recorded in the produce department, which was brought about by the drought conditions, five out of the seven departments showed a substantial increase.
The nett profit from the store was £3571.
It was decided to declare a dividend of 5 per cent. on paid-up capital, which will absorb £539.
A transfer of £500 to the reserve fund will be made, and the balance carried forward.
Nine, nominations were received for the election of the Board of Directors, they being Messrs. W. Hassett, M. R.Archer, J. M. Arragon, C. T. Asimus, M. R. Macadam, A. W. Davis, F. McGrath, A. W. McGillivray, and S. Largalestier, and a ballot will be held for the election.
Considerable discussion took place concerning the store department, some shareholders stating that the prices were, too high and, that share holders should be given preference in connection with fodder supplies in times of shortages.