DAIRY BOARD.

Press, Volume LXII, Issue 18676, 27 April 1926, Page 10

DAIRY BOARD.

REDUCED COMMISSIONS. Mr W. Grounds, chairman of the Dairy ■ Produce Export Control Board, has announced that an approximate saving of £IOO,OOO a year had been secured to the dairy industry by the reduction of the commission paid the London distributors from per cent, to 2 per cent. This reduction would operate as from August Ist, on the Board taking control of marketing, and on a turnover of £20,(XX),000 annually, represented £'loo,ooo which would be saved. Mr Grounds stated in Wellington that it had been generally recognised thai with the elimination of a large number of the local agents in New Zealand, the Toolev street houses would lie relieved of the maintenance of these offices, and that consequentlv the ill-, dustry might expect to benefit by this saving in a reduced commission charge. As anticipated; following representations made by the Board, this had been conceded. The reduction of J'per cent. —from 2J to 2 per cent.—approxiniaielv repiesented the cost of the maintenance of tho local agents. An unofficial statement published by some journals. a few days ago, Mr Grounds said, was grossly misleading. Brokerage arrangements between merchants doubtless existed by which the actual distributor of some parcels of dairy, produce worked for a 2 per cent, commission, or, may be, even less. But acquaintance with a 2 per cent, commission by daisy companies was negligible, and to most factories was quite unknown. Consequently it could be claimed that the concession would be a substantial advantage to all companies. Referring to recent Press cables from London, Mr Grounds said: "It is deplorable that our London representatives should be called upon to repudiate statements from New Zealand that the Board aims at the establishment of fictitious prices to the detriment of the consumers. We are satisfied that .the-se repeated statements are much more malicious than stupid, and indicate that some are prepared to deliberately sacrifice national interests to preserve their own profitable connexion. These tactics cannot be too strongly reprobated bv all having the national interests at heart. They aro correctly, apprai sed hv most dairymen, and it is well that the general public should understand the objective of this opposition propaganda.'' CHRISTCHURCH STOCK EXCHANGE. YESTERDAY'S TRANSACTIONS. Sales Reported—Goldsbiougli, Mort, 4- s s Gd (4 parcels); P. and O. Deferred, £230; Westport Coal, 36b 3d; Christchurch Gas, 245. Sales on 'Change—Dalgety and Co. (cum (liv.), £l6 2s 6d (2 parcels); Goldsbrough, Mort, 48s Bd (2); Di.Z. Guarantee Corporation, 9s 8d; Wcstport Coal, 36a (3 parcels). LATEST QUOTATIONS.

OTHER EXCHANGES. (raua issocuTioi ixuasAMs.) AUCKLAND, April 26. Sates —New Zealand Inscribed Stock, 1938, 4i per. cent., 596 7s 6d; Bank of New South Wales, £45; Union Bank of Australia, £ls Is; Auckland Gai (contributing), 8s 6c; Rotoili Timber, 20's 9d; Kempthorne, Prosser, 68s; Kempthorne, .Preiser (contributing), 89s; New Zeslsnd farmers' Fertiliser, 100s;. Taranaki Oils, lis 6d; Wilson's Cement, 35s 3d: Alburnia Consolidated, 4s 6d, 4s 3d, 4s, 3s 9d, 3s lid. 3s lOd, 4s, 4s 3d, 4s 6d, Ss, 4s lOd, 4s 9d, 4s 10d, 4s Bd, 4s 9d, is 9d, 4s 7d, 4s 6d; New Wsiotshi (contributing), 10|d and ll|d. WELLINGTON, April 08. Sales—New Zealand Government Loans, K per cent. P.O.' Bonds, 1927, £96 ss; Bank of Australasia, £l4. I DUNEWN. April 26. Sales Reported—Westport Coal, 36s 3d; I Brewerisx Debestuei, 26s 3d.

DAIRY PRODUCE. (MESS ASSOCIATION TELEGRAM.) WELLINGTON, April 26. The Dairy Produce Board has received from its London office the following market' report; dated April 23rd Butter —The market is very quiet. New Zealand salted 172s to 1745; Australian salted, kangaroo 170s; Argentine .ealted, 148s to 156 a; Danish salted, 180s, after being down to 176e. Siberian and other Continental butters are now coming to hand, and it is estimated there will be a considerable increase from these countries during the pre> sent summer. Cheese—The market ia very quiet. After being down to 9&s the market became more active at 93s to 94s for New Zealand cheese. The New Zealand Producers' Co-operative Marketing Association has received the following cable message from' 'London, dated April 25th:—The butter market is very q-uiet. New Zealand salted ,171s to 1725, seconds 162s to 1665, unsalted Pis to 1765; Australian, 168s to 1725; Argentine, 154s to 160s; Danish, 178s; Dutch, 168s to 1725; Esthonian, 166s to 168s; Siberian, 156s to 160s. The cheese market is slow. New . Zealand white 92s to 93a, coloured 92s to 945; Australian, 88s to 935. The National Mortgage and Agency Co. of .New Zealand, Christchurch, have received the following cable from their principals, Messrs A. J. Mills and Co., London: — "Butter: Very slow market; 170s to 1725. "Cheese: Market little steadier. White and coloured 92s to 935." DODGE BROTHERS' PLANT. (FSCSS ASSOCIATION TELEGRAM.) WELLINGTON, April 26. Cabled news published in New Zealand on April 19th indicated that various Canadian factories were closing down, due to the reduction of duties announced in the Canadian Budget. Amongst , the factories mentioned was that of Dodge Bros. (Canada). Ltd., of Toronto, Ontario. The New. Zealand dealers cabled Toronta asking if there was any truth in the cabted reports published, and have since received cable advice direct from the factory, announcing that their Canada plant is still operating at full capacity. • AUSTRALIAN LAMB EXPORTS. (PSZSS ASSOCIATION TELEGBAM.) WELLINGTON, April 26. The Jfew Zealand Meat Producers' Board has received a cable from its representative in Australia advising that 58,598 carcases of lamb have been exported from Australia for ths fortnight ended April 23rd.

Buy« srs. Sellers. £ s. d. £ 8. d.. n.z. govt, debentukes4J per cent. Inscribed 1938 and 1939 96 7 6 — 4J pec cent, ;''3ond»,' 1930 — 97 10 0> 4J per cent. Bonds, 1938 end 1939 96 10 0 — 5 per cent. Inscribed, 1927 98 0 0 — ,5 , per tent.. Bond*, , . . 1027 - "os; 5' o. : — of per cent.' Inscribed, 1933 99 IS 0 100 0 0 5J per cent. Bonds, 1933 • .. x .. 69 lo 0 — OTHER DEBENTURES(Jhristchurqh Drainage, 5j per cent. 99 2 6 — N.Z. 'Breweries, Inscr. 1 0 .9 . -riv ,Z. Breweries, Bonds 1 6. 0 1 6 4 Glaxo, 6| per cent. .. 85 0 0 92 0 0 BANKS1 12 9 Aust. Bank ■ o£ Comm — ' Australasia 13 18 0 14 1 6 ' Comm.' of Aust. ' 1 10 ' 9 — . E., S., ;and A. (cum dir.) 7 16 3 7 .17 9 National d Australasia (£10; pd. cum div.) 18 0 0 18. 3 0 National of Australasia i£5 pd v cum div.) ' 8 ID' 6 9 2 0 National of N.Z. 6.14 6 — New South Wales 44 15 0 45 5 0 New' Zealand 3 0 6 . 3 0 8 Royal (£1 . paid, cum 1 16 3 ' Roy.a{ (£1 pd. cum . div.) — ' 7 2 6 ITnion of Auet. 15 0 0 15 1 0 Victoria (ord.) 8 7 6 8 11 6 lUvNUE—. National .. .• 3 19 0 4 1 0 New Zealand .. 1 18 8 1 19 3 Queensland — 2 13 0 South British (ex div.) 2 15 0 2'16 0 Standard 2 12 0 — LOAN AND AOENCYDalgety and Co. (cum 16 2 div.) 16 0 0 6 Goldsbrough, Mort 2 8 6 2 .8 7 National Mortgage (Lon- • 3 14 don Register) — 3 6 N.Z. and River Plate 1 2 — SHIPPING— 1 12 Howard, Smith 1 12 3 6 Huddart-Parker 2 4 3 2 5 0 P. and 0. deferred Stock ... •• 235 10 0 240 0 0 FROZEN MEAT— 0 0 17 9 N.Z. Refrig. (£1 pd.) • 0 17 N.Z. Refrig. (contr.) 0 8 2 0 8 3 WOOLLENS-, Kaiapoi (17s paid) .. 0 12 0 0 12 10 Kaiapoi (pref. r# dir. 0 12 only) •• 6 COAL0 17 1 16 Taupiri Ti'eatport 6 1 1 16 6 GAS10 3 Christchurch 1 3 1 4 Tim&ru 6 15 0 7 1 0 bheweries— Crown v Manning (cum div.) .. New Zealand .. 1 0 1 19 2 17 6 6 3 2-1 2 18 0 6 Staples • ■ ; - Ward .. s 1 18 2 0 3 0 3 0 2 1 0 7 r" VTS_ Wilsop'a •• 1 14 7 1 15 3 TIMBER— 1 3 Bartholomew 0 — Kauri 1 13 3 1 13 9 Leyland O'Brien — 2 2 0 MISCELLANEOUS— , 1 11 1 11 9 Be&th tnl Co. 0 . British Tobacco. (Aust.) '— a 7 6 Burns, Philp 1 18 0 1 190 Colonial Sugar 54 2 6 54 10 0 Electro. Zinc (pref.) .. 1 15 0 1 15 8 Electro. Zinc (ord.) 1 14 0 1 14 9 Glenmore Brick and Tile 1 5 0 —■ 6 N.Z. Drug Co. •• 3 7 6 3 8 N.Z. Farmers' Fertiliser 4 19 0 5 5 0 N.Z. Guarantee Corpn. 0 9 7 0 9 11 .N.Z. Milk Products ..\ , 1 12 0 1 15 u N.Z. SugOT of Milk ... — 6 1 10 0 Taranaki Oilfields 0 10 — Whitcombf and Torres 3 7 6 3 9 0 Eclipse Petrol (£1 pd.) 0 12 0. 0 15 0 M T NING— Kawarau 0 '6' '9 . b 7 4 Mt. Lyell . 15 3 — St. Bathans, A -and B and fully paid — ' par.