NEW ZEALAND BUTTER.

Auckland Star, Volume L, Issue 72, 25 March 1919, Page 11

NEW ZEALAND BUTTER.

PROFITS EQUALISATION FUND.

IMPERIAL PURCHASES,

TILL JULY NEXT YEAR.

In a "Gazette Extraordinary" published yesterday it is notified that the 2vew Zealand Government is prepared to purchase on behalf of the Imperial Government the whole of the exportable surplus of butter manufactured in ttie Dominion up to and including July 31, 10-20. '

The following prices will be paid for butter delivered free on board steamer at a customary port for carriage to the United Kingdom:—Creamery butter: First gTade, ISI/ per cwt. In the case, of second-grade butter a reduction of 6d per cwt. shall be made for each halfgrade point by which the butter falls ■below first-grade. Whey butter and dairy butter: First-grade, 162/4 per cwt.; second-grade, 157/8 per out. Milled butter: First-grade, 148/4 per cwt.: second-grade, 143/3 pel- cwt. No creamery butter or whey butter will be ■purchased by the Government except from the manufactured

For the purpose of equalising the profits of those manufacturers who supply creamery butter to the Government under this scheme of purchase and export, and the profits of those manufacturers who supply creamery butter for local consumption, the Government will establieh a fund to be called the Butter Prices Equalisation Fund.

For the purpose of constituting such fund it is provided that the Controller of the Imperial Supplies Department shall retain out of the purchase-money payable from time to time to each seller of creamery butter under this scheme a sum equal to the excess of that purchase money over the sum of 1/G per pound of the quantity of creamery butter for which payment is 60 made, bwt for the purpose of this clause such purchase money shall be computed without any deduction for short weight or for butter graded lower than first-grade. The moneys so retained shall constitute the Equalisation Fund, and shall be held by the Government in trust. The fund shall from time to time be expended by the Controller on the following purposes:—ln the payment of all expenses incurred in the establishment or administration of the fund; in the distribution among manufacturers of creamery butter sold by the manufacturers during the period mentioned for local consumption at prices fixed by the Order-in- ■ Council of April 16. 191S, of such sum as may be deemed justly payable in order to compensate those manufacturers for any loss incurred by them in so disposing- of their butter; in refunding to the sellers at whose expense the Equalisation Fund has been established all sums not expended for the aforesaid purposes.

The determination of the Controller) as to the expenditure of the Equalisation | Fund, ia for all purposes to fee final and; conclusive; but in the exercise of his powers in this respect he will at all j times consult the Dominion Butter Com-| mittee as now established, or such other' committee or body as may for the time being be substituted therefor, .is representing the manufacturers of New Zea-| land creamery butter. The determina-| tion of the Government as to the ex-i tent of the exportable surplus , of but-j ter, and as to the inclusion of any but-i ter as part of that exportable surplus,' will be final and conclusive. All butter manufactured in Now Zealand since August 1, 1918, and already sold to thj Government for the use of His Majesty's Government of the United Kingdonij is to be deemed to haveioeen sold under the provisions of the scheme herein set forth,' and all the foregoing provisions are to apply accordingly. |