PAYIN'C; rXJR FAT IN CRI':AM 14:] 



STATE.MKXT OF CASH [^IXKR'FI) A\I) DISHUKSFI) 



ReCKIPTS. DlSBlRM.MI NTS. 



Receixecl for butter . . . S Paiil tn patnms lor milk S 



Kunnin^^ l-xjiltisus of cream- 

 er)" anil supplier ml hand 



Paiil lur maLhinery, ma- 

 terial, repair^. ete. (nut 



of percentat,'e fund) 



Paid di\"idend on stock for 

 1112 . lout of [ier< enta.i^e 



fund) 



Paid dividend on stock tor 

 ig2 (out of percenta;^e 



fund) 



Total amount of cash re- Total amount of orders 



ceived ami paid to Trcas- drawn on 'kreasurer 



urer Cash halance in hands of 



Cash t)alance in hands of Treasurer, Jan. ig2 



Treasurer, Jan. up. 



Total Total 



REPORT OF .\UnrriXG COMAriTTi:E. 



To the Stockholders of the Creanier> Company: 



\\'e, the undersigned, appointed by your lioard of Directors to e.Kamuie anrl 



audit the liooks, .\ccounts, and \'ouchers of the Secretary and Treasurer of the 

 Creamery Com[)any for the year iq2 , hereby certif\" that \vc 



ha\"e carefully e.xamined the same and com|)ared them with the abo\e reports of 



said officers, and hnd them correct. 



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



this da\ of -\.i)., ig2 



/ .\uditini,' Committee. 



Paying for Fat in Cream Compared with Paying for Fat in 

 Milk. — It is evident that when ptitrons cleHver fat in the form 

 of milk the creamery operator sustains a 1(jss 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 creamer}-, and consequent)}- 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 's 

 good as that in the fomi of milk. The butter-maker bhou'd 

 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 



