COMMERCIAL

Press, Volume LIX, Issue 17807, 5 July 1923, Page 10

COMMERCIAL

DAIRY PRODUCE . CONTROL. A NEW BILL. (gfBCIAL TO "TH2 SBSBS.") WELLINGTON, July 4. The main alterations in the Dairy Produce Export Control Bill (which v/as introduced in the House to-day), as compared with the Bill when it left the Special Committee last year, are contained in clause 13. The clause provides that, from a date to be fixed, no contract for the carriage of dairy produce exported shall be made except by the Board, acting as agent for the owner, or in conformity with condition approved by the Board. If, however, the Meat Board notifies the Dairy Produce Board that it will not eater into a contract for sea carriage, save in accordance with an arrangement between the two Boards, the Dairy Produce Board must not contract for sea carriage, save in accordance with such arrangements. . There is also provision that every contract for sea carriage not made in accordance with the above provisions, shall be void.

After these provisions have been enacted, anyone exporting dairy produce must satisfy the Customs that the contract for sea carriage has been approved by the Board. Contracts made before the passing of the Act are to be subject to the above provisions, unless the produce to v/hich the contracts relate is shipped before AugU3t, 1924. The Hon. W. Nosworthy stated that the Bill would be referred to a committee which would take evidence, and the evidence would, with the approval of the House, be printed. DAIRY PRODUCE. LONDON QUOTATIONS. (3UICIA.L ?« "ia» ?WM«.') AUCKLAND, July 4. A cablegram from London, received by the New Zealand Co-operative Dairy Co., advised that the company's butter is quoted at 156s per cwt, sales being made at that figure to the extent of several hundred boxes daily. Danish butter is reported at 142s f.0.b., the price reacting from 1365, due to American buying. Mr W. Goodfellow, managing director oi the company, said it was further Reported that the Maypole Dairy Co., the largest distributors of dairy produce in the United Kingdom, had reduced the retail price of New Zealand butter to Is 4d per lb. It was expected that other stores would follow suit. He anticipated that the reduction In price would stimulate the demand, and bring about a quicker recovery. No substantial improvement 'in the market, however, was expected for several weeks. 'White and coloured cheese is repprted to be selling at 86s, after a drop to 82s. - The market is a fluctuat- * iag one, with a downward tendency. ' ■; Casein, is quoted at £7O per ton, with •a' bare market owing to an appreciable reduction • in the Americas output. Good pricsß aro anticipated for the coming season's output from New Zealand. '< Milk powder sales are reported at jB6O and £7O per ton, according to quality. Australia continues to buy moderate parcels of butter, on the basis of Is 5d to Is 6d per lb, f.o.b. The wholesale price is being maintained in Sydney and Melbourne at 224s per cwt. ' TASMANIAN PRODUCE FOR AUCKLAND. THE KAITANGATA'S SHIPMENT. (»t CABtß—rasas absocxmhoi—copybiokt.) .•- (AtmmuAiH AKD H - s - 'Cabls AsaocutoH.) (Received" July 4th, 7.30 p.m.) HOBART. July 4. The Union Co.'s steamer llaitangata, the first steamer to leave Norwiern Tasmania with produce for New Zealand, has sailed from Devonport for Auckland with a large consignment of potatoes, chaff, and oats. CANADA AND AUSTRALIA. RECIPROCAL TRADE AGREEMENT DELAY. (deceived July 4th, '7.30 p.m.) ■-./'■ MELBOURNE, July 4. . Anticipations that. the ' reciprocal trade agreement negotiations between Australia and Canada would be successfully completed at ah early date appear likely to oe disappointed owing to the obstructive, tactics' of the Opposition, and .points;of details which have cropped up over the agreement itself. It is improbable that the agreement can be submitted to Parliament before Mr Bruce leaves for England. N.Z. BREWERIES LIMITED. 'A ;final notice to intending investors in New Zealand Breweries Limited appears in this issue. The list of applicants for 10 per cent, first mortgage debentures will close on or before Monday, July 9th. The point out that this investment is one for the "small man" as well as the man with plenty of capital. In fact, they say, it is rarely that the small investor has the opportunity of sharing in an investment that offers such handsome returns as N.Z. Breweries Ltd. 10 per cent, first mortgage debentures. They are issued in multiples of £lO. The interest is not only at an unusually high rate, but it is payable quarterly", free of exchange, and free of income-tax as provided in prospectus. The issue is secured by a mortgage on the property of the Company, the N.Z. Insurance Co., Ltd., being .trustee for debenture-holders. The debenture-holders have first claim on the profits of the Company—the shareholders receive no return until the 10 per cent, interest has been pa'd to debenture-holders. It is claimed that in every possible way the interests of the public have been safeguarded in this investment. BRISBANE WOOL SALES. (8* GADLB—P3BSB ABSOCUTIOS—COPTHOHT.) (iUSTEALIAH AND 5.2. CABL» ASSOCIASTOB.) BRISBANE, July 1. At the closing wool s.ile of the season the offerinja were generally unattractive. There was a well dittributcd demand, but prices were five to ten per cent, below the Albj scries.