PAYING FOR FAT IN CREAM 143 



STATEMENT OF CASH RECEIVED AND DISBURSED 



RECEIPTS. DISBURSEMENTS. 



Received for butter . . . $ Paid to patrons for milk . . $ 



Running expenses of cream- 

 ery and supplies on hand 



Paid for machinery, ma- 

 terial, repairs, etc. (out 



of percentage fund) 



Paid dividend on stock for 

 192.. (out of percentage 



fund) 



Paid dividend on stock for 

 192.. (out of percentage 



fund) . . . . 



Total amount of cash re- Total amount of orders 



ceived and paid to Treas- drawn on Treasurer 



urer Cash balance in hands of 



Cash balance in hands of Treasurer, Jan. 192 



Treasurer, Jan. 192 



Total . Total 



REPORT OF AUDITING COMMITTEE. 



To the Stockholders of the Creamery Company: 



We, the undersigned, appointed by your Board of Directors to examine and 

 audit the Books, Accounts, and Vouchers of the Secretary and Treasurer of the 



Creamery Company for the year 192. ., hereby certify that we 



have carefully examined the same and compared them with the above reports of 

 said officers, and find them correct. 



In witness whereof we have hereunto set our hands at , Iowa 



this. . . .da> of A.D., 192 



Auditing Committee. 



Paying for Fat in Cream Compared with Paying for Fat in 

 Milk. It is evident that when patrons deliver fat in the form 

 of milk the creamery operator sustains a loss in the skim-milk, 

 while if the fat is delivered in the form of cream, no fat is lost in 

 the skim-milk at the creamery, and consequently the cream patron 

 should receive more per pound of fat delivered than the whole- 

 milk patron provided the quality of the fat in the cream is as 

 good as that in the form of milk. The butter-maker sliould 

 obtain a larger overrun from the fat of the cream than he does 

 from the fat of the milk. The amount which the patrons should 



