NEW ZEALAND BUTTER.

Press, Volume LXIV, Issue 19200, 5 January 1928, Page 8

NEW ZEALAND BUTTER.

(ntOU OT7S OWX COHBE3POKDEXT.)

VANCOUVER, December 14. New Zealand butter is again under fire in connexion with an angiy pro test by the National Dairy Council ot Canada, made in person by way ot delegation to the Federal Cabinet at Ottawa The delegation asked at firstfor the abrogation of the Austialiau trade treaty, and the benefits Nc Zealand derives froHisiinaar conctofcions, but, when the Prime Mnu. er Mr Mackenzie King, made it clear that such a request was not likely to be considered tor a moment the delegation thinned it down tc the butter tho queues are still outside the grocery stores that sell New Zealand Gutter when shipments are ui, aim cabled dispatches announce the quantity each ship carries. There is no Australian butter—practically nonecoming into the Dominion, but thj Australian trade treaty bears the hrunt of every complaint of tho dairy farmers, especially those on the prairie. That the adversaries or the treaty, and of the concession Jvetv Zealand butter enjoys under it, are not presenting the case fairly is the opinion expressed by more than one influential journal. "The ordinary man is more prone to believe this," says the "Montreal Star," <! when he finds, to liis amazement. that New Zealand butter. travelling over hundreds of miies by land, then across seven thousand miles of ocean, and a further three thousand miles of land, can compete successfully with the butter made on the spot in one of the dairying provinces of Canada. This is littl? short of miraculous. The National Dairy Council deny there is a miracle involred, and allege unfair advantage. If they prove 'their allegations, • they should be granted- relief, for it is not in reason that the farmers of Canada should be compelled to suffer because come other section of the community needs assistance. But, if tho success of the New Zealand dairy farmer is the result of his own enterprise and up-to-date • methods, lie; deserves to reap his reward and earn the gratitude of the Canadian consumer at the same time. The Canadian farmer presumably could, if.he would, use the same methods and -win back that exportable surplus of 24,000,0001b of butter, of which he -was 'so proud in 3925."

AUCKLAND BANKS. THE HOLIDAY RUSH. [THE PSBSS Special S«tvic«.] AUCKLAND, January 4. ; The banks of Auckland experienced a big rush of business just prior to the Christmas holidays.' On reopening this morning after the New Year vacation their counters were thronged. There wore indications that, so far as the shops and commercial houses are concerned, the festive season has been a profitable one. Some of the banks report that business has been steady, but that the returns do not indicate any-, thing exceptional for this period of the year.

One manager expressed surprise at tho fact that there was so much activity in banking in view of the very difficult year which Aucklanders have experienced. Bankers conclude that the majority 0l ! business people had a prosperous Christmas and New Year, every bit as good as that of 192G, yet not up to the exceptionally prosperous standard aet in 1923.

The Auckland Savings Bank has experienced a large share of the holiday ~7ush. Deposits in December totalled £370,469, as compared with £372,761 for December, 1920, a decrease of £2292. • Withdrawals in December, 1927, amounted to £405,975, an increase of £3602 in withdrawals as compared with the corresponding month in 1926. The excess of withdrawals over deposits this December showed a decrease of £35,506. That many Aucklanders have been thrifty during the difficult year is indicated by the.fact that deposits with tho Auckland Savings Bank amounted to . £3,882,747. During the preceding year deposits totalled £3,888,916. Nor was the difference in withdrawals so ' very large. During 1927 the sum of £3j754,011 was withdrawn, whereas in the preceding year there was only £3,753,127. Thus in 1927 there was an excess of deposits over withdrawals of £128,736, and in the preceding year the excess was slightly greater, £135,789. . Aucklanders who put their money in the Auckland Savings Bank have been loss thrifty during the past twelve months than they were in 1926, but to an extent which is not very appreciable. In point of fact, they have saved (apart fronriritcrest) about £75,600 less than they did in tho preceding year, which was by comparison a year without any special difficulties, whereas 1927 was a trying time for most people.

A QUIET YEAR.

CONDITIONS IN AUSTRALIA.

[THE PRESS Special Service.]

WELLINGTON, January 4.

Tilings are rather quiet iu Australia jnst now, owing to the fact that the wheat yield in all the States except West Australia is a long way below the average, said Mr Howard W. Berrv, governing director of - Messrs H. W. Berry and C 0.,, Ltd., to-dav. •'West Australia has had a better rainfall than any other, State, and is getting more settlers upon the land, with the result that tliey have the biggest wlieat yield that they have •ver had. . "There is a considerable amount or unemployment, in consequence of the money conditions,. and money is tight. We did not got the winter rains which we ought to have had, and the rainfall is much below the average for tlie past year. However, we have great recuperative powers in Australia, and though there have been heavy losses of sheep, cattle, and horses iu Queensland, and to a less extent in New South Wales, we have suffered the same troubles before and have overcome them."

AUSTRALIAN CUSTOMS REVENUE

(BT CABLE—PBESS ASSOCIATION—COPYRIGHT.) (mRTBm ttv AKD K.Z CABLE ASSOCIATISX.)

MELBOURNE. January 4,

The Customs revenue for the halfyear amounted to £22,256,000, compared with £22,115,000 for the corresponding half of the previous year,

PLATINUM IN SIERRA LEONE. AN IMPORTANT DISCOVERY. (ET cable—rasas ASSOCIATION"—COHSICHT.) {AUSTRALIAN" AND S.Z CABLE ASSOCIATZO.V.) (Received January 4th 0..j p.m.) LONDON, January 4. The Colonial Office reports the discovery of a .platinum-bearing area in Sierra Leone. Investigation shows that the area has an extent of about forty .square miles, and the deposits are likely to l>s> of considerable importance. The Imperial Institute's analysis' is favourable. Prospectors must satisfy the Sierra Leone Government of I heir bone fides. Platinum is the most valuable of all metals, its price at present being about £l4 an ounce.

LONDON BANKS

A RECORD YEAR. ,'BJtmSH CJFICIIti WIRELISS.) RUGBY; January 3. •London bankers report that the grand total of bills and cheques paid at tlie clearing house in 1927 established a new record, having amounted to £41,550,000,000. "The previous year's highest was for .1.P20, when the total was £40,437,000,000. A feature ol' the London foreign exchange market to-day was the demand for Spanish currency, which was being bought on expectation of the .early stabilisation of the peseta. The rate consequently dropped considerably. BANK DIVIDEND. (IUSTHII.IAK AND N.z. CAB LI ASSOCIATION.) LONDON, January 3. The Union Bank of Australia has declared an. interim dividend of lo per cent., tax free. BRITAIN'S FINANCES. (•BJUTisn orytcm. wiuzless.) liUGBY, January 3. The revenue returns show that for three-fourths of the financial year, to December 31st, there has been a net increase of £13,500,000 over the corresponding period of last year. The chief increase is in death duties, which are up by £8,500,000, of which over £2,000,000 came to hand in the last three months. The total revenue for the nine months is shown at £492,500,000, against which the expenditure chargeable is £642,500,000, which is an increase of £17,500,000 over the corresponding period of last year. This increase, however, is more than accounted for by an increase in the sinking fund of over £24,000,000. There is an actual decrease in supply services of over £5,500,000. In the Budget the Chancellor of the Exchequer (the Rt. Hon. Winston Churchill) estimated the year's revenue at £834,830,000, so that if the Budget is to be realised a large sum still remains to be collected.

In the last three months of last year, however, no less than £345,500,000 was raised, and there generally is a bigger inflow of revenue in the Jinal quarter of the financial yeah

N.S.W. FINANCES. (AVSTKALIAX AMD X.Z. CABL2 AS3OCIATIOS., SYDNEY, January -1. The revenue returns for New South Wales for thei sis months ended December 31st show that the revenue totalled £18,716,000, and the expenditure £22,271,000. The revenue showed a retrogression of £2,186,000 compared with the same period of the previous year.

AUSTRALIAN TIMBER DUTIES. MASTER BUILDERS' PROTEST. Addressing . members oi the Mieior Builders' Association ill Sydney recently the president, Jlr A. Home, said that the new Customs tariff on timber imported into Australia, was nothing short of a scandal. It would not. assist the local mills. Indeed, the local mills had themselves to blaine for their- condition. They were of the backyard typo and incompetently conducted. Oregon could ba bought free on board at British Columbia for 6s 5d a 72in section, but in Sydney it co3t 27s to land, and of that amount Ss was paid in duty. The tariff, said Mr Howie, meant that the consumer would be called upon to pay £1,100,000 on duties, and the extra co9t of a workman's house would amount to £24. The Director of Forests had told him that the tariff would make no difference in the amount oj timber cut m this State next year. Other speakers supported ilr Howie, and it was decided to protest against the recent duties to the allied associations in other States. The increases in the duties were trenchantly criticised by Sir David Gordon, chairman of directors, at the half-yearly meeting of Reid Brothers, Ltd., ;at Adelaide. Sir David said that there would be serious increases in tho cost of building houses, which he estimated nt approximately £25 for every workman's house, and at correflpondingly higher figures for larger houses. Ad valorem duties on timber, he said, were now higher than any other ad valorem duties in the Customs 6chedule, with the exception of spirits and cigars. On a quantity of Oregon, f.o.b. Seattle, costing £3 Is Pd, the duty amounted to £5 10s. The fixed duty on Baltic dressed timber lepresented more than 100 per cent. Consequently the new duties were a heavy tax upon the community. There was no substitute in Australia for the bulk of the timber affected by those duties and, even with higher rates, it was doubtful whether any of the States would benefit to any great extent. ELECTROLYTIC ZINC CO. The following is the production statement issued by the Electrolytic Zinc Co. of Australia. Ltd., for the four weeks ended December 14th, the fifnres tor the four weeks ended November 16th being given in parentheses:—Zinc, 3805 tons (3753 tons): used at works, 60 tons (60 tons). Silver lead produced for shipment to Port Pirie for realisation: Lend 540 tons (330 tons); silver 81,G00oi (30,0000z>. FROZEN MEAT. The New Zealand Loan and Mercantile Agency Co., Ltd., have received the following cabled advice from London, dated December 30th: —New Zealand Frozen Meat—Lamb. 9Jd per lb; mutton, wether and maiden ewe. light fijd per lb. heavy 53d: ewe, licht 5Jd per lb, heavy 4sd. There is h fair demand. EGG AUCTION. Messrs Harris Dron., Ltd., report th»t the weekly auction Kale of "Feather Brand" guaranteed fresh eggs was held ye»terd*y afternoon. The following prieei were realised:— Ilcn eggs, (bit grada (2os or over), '• tid; second grade (under 'Jot), It Ci, —4