OCR Text |
Show So. Utah Dairy Elects, Hear Annual Report i At the annual meeting of the stockholders of the Southern Utah Dairy Co operative, held on j Wednesday night of last week, the stockholders put their stamp of approval on the way the bus iness has been handled during the past year by re-electing to the board of directors, those members mem-bers whose terms expired at this time, and heard the anuual re port of the business for the 19G-S year. , Re-elected to two year terms on the board were Hal S. Mitch-1 oil. Revere Robinson and Wanen j A. ' Dalton They with the the holdover members ot the board, Roy Benson, Sr., and Ray Morris, will constitute the governing board for the Co-op for the 190.5 year. Following the meeting the above group met and named Mr. Morris president, Mr. Dalton as vice president and Mitchell was renamed as secretary. The annual report of the bus! ness of the company for the past year was given by the Co-operative auditor, with the report showing slight changes in the financial fi-nancial standing of the co-op. Current and fixed assets of the co-op were down from last year with 1964 assets set as $9 1,2631, compared to $81,341.92 at the end of 1964. This was largely accounted ac-counted for by a decrease of $10,-311 $10,-311 In accounts receivable. Tn increase in-crease of $2,000 In the list value of plant equipment, aided in balancing bal-ancing the above drop and made the net decrease approximately $7,000. Current liabilities of the co-op decreased during the year by $11,772.21, but this decrease was partially offset by long term liabilities li-abilities of $8,368.21 which the co-op didn't have at the end of 1963. The report also showed that totals sales during the past year were $257,981.15, purchase of merchandise mer-chandise during the year added to Inventory totaled $206,329.18, leaving a gross margin from sales of goods at $51,651.97. Other income, from the feed plant, milk hauling, Locker rental ren-tal and locker service and miscl. Income accounted for another $12,997.78, making a total gross I income of $64,659.75 But operating expenses seemed to take too much and totaled $68, 168.07 or $3,518.32 more than the gross income. Wages paid ac- counted for the big slice of the expense column, or $35,755 91. Set aside for depreciation was $3,823.70, or slightly more than I the loss shown above. Other lar-ger lar-ger cost Items were freight, $3,-1 $3,-1 812.76; insurance $3,337.58; Operating Op-erating supplies and expense, $1,745.90; power and water, $2,-485.03 $2,-485.03 with advertising, heat, interest, in-terest, oflice supplies, repairs and maintainence items each ranging from $1,(K)0 to $2,0(i0 items. And taxes: payroll, property proper-ty and miscellaneous, taking a cut of $3,50835 during the year. While many of the above items made it hard for the Dairy Co-op to break even, for the most part they added very much to the economic eco-nomic well-being of the community commu-nity as a whole. i Make the GREATEST DISCOVERY of your life HOW EASY IT DO IS TO OWN A rZIZ NEW ROOMY HOIT1 I y JUST PICK A PLAN-OUftS OR YOURS llJ 3-- 1 j jj AND WE'LL DO THE REST! wSSrSj $ MinTmMfmpfPmpm Homet IS low S '& IXTEt.OR -rr.X4 - WW COST. MONIST "HAM- . nJwMrf lop tMtaf wnd tMcfc bvft CIHO F0 EVERTONC WITH 1 . iMmIm wIMiftos OR WITHOUT MONEY. I H Marm mnd iiinm Itflto4 I I J ymt drake f mm- TOU CAN INCIUDI mm4 Iiimi m I y MmtIm Mna Mn tmmn. imImHM H.tlm a4 IIm- 1 T"0' r.jjflTir.rr m"tJ7SmmZi C"W" J mmm Mk MriM Mt MAIL COUPON TODAY! K mmm 4 wtMtow trim Mk fO OUT HOH f I mm vhryt ummtm HI far " StOI W. 4ttk Ar. g? krrriMn, Ml artfcmmral Mrrk. J tunc, Com., Dm. U-ll Vi LMMMrJMMMMJMMMKM tmm) mm tmW9 IMMHSmI l v 1 I ' D. Watoa Mm 'ftiHiiM . tt R. Mala Fmmi 477-S3I4 !! I' fmrnwmm. Vmk JoiMHiM. |