34 



INFORMATION KEI.ATING TO CO-OPERATION AND ASSOCIATION 



The financial position of the co-operative dairies is thus seen to have 

 been excellent. The following table shows their financial dvelopment from 

 1904 to 1915 : 



1904 



1906 

 1908 

 I9IO 

 I9I2 



I9I4 

 I9I5 



An examination of this table wiU convince the reader that the develop- 

 ment of the co-operative dairies has been continuous and rapid. In 1904 they 

 owned hardly a quarter of the capital they employed, but in 1912 they owned 

 much more than half thereof, namely 60.5 per cent. And while their own 

 capital increased the proportion of their real estate to their other property 

 was modified to the advantage of the latter ; which in 1914 constituted 

 36.7 per cent, of all their assets, being thus equal to their debts (36.3 per 

 cent.), whereas in 1915 the position had much improved. 



In 1915 the value of the products sold by the Finnish co-operative dai- 

 ries was fifty million francs. The average income of a dairy was larger than 

 it had ever been, namely 141,667 francs as against 110,727 francs in 1914 and 

 113,210 francs in 1913. But most of the dairies — 52.1 per cent, of them — 

 have not yet attained to an annual turnover of 100,000 francs. There 

 were at the end of 1915 nineteen large dairies having an annual turnover 

 of more than 400,000 francs. 



The average price of the products was 379.53 francs for one hundred 

 kilogrammes of butter in 1915, as against 281.05 francs in 1914. The cor- 

 respondent cost of production reached 36.^13 francs and the net profit 343.10 

 francs. If 2 % per cent, be allowed for usurer's amortization a final net 

 profit of 3.34 francs remains on one kilogramme of butter. To produce one 

 kilogramme of butter 24.3 kilogrammes of milk are needed. 



