DAIRY INDUSTRY.

Press, Volume LXV, Issue 19815, 31 December 1929, Page 10

DAIRY INDUSTRY.

OVERSEAS MARKETS. NEW ZEALAND'S PROSPECTS. (SPECIAL TO THE PEXSS.) AUCKLAND, December 30. Prospects for New Zealand's dairy industry are satisfactory, according to Mr J. B. Macewan, tbe well-known Wellington dairy produce merchant who returned by the Aorangi from a trip to England. Dairy farmers, however, Mould have to keep pace with all developments in production in order to maintain their position in the world's markets. "New Zealand butter _ is meeting with increased competition, chiefly from Continental producers," Mr Macewan said. "The producing conditions on the Continent appear to be favourable, and those in the industry are using up-to-date methods to produce butter of excellent quality. It is imperative that New Zealand butter should xiot fall below standard, and that constant attention should be paid to efforts to improve quality. "In spite of competition the market for New Zealand butter is extending. Sales outside the London market are increasing and there can be no doubt that there is a large market awaiting development in the North of England. Direct shipments would help to extend New Zealand markets in this quarter. Better and more regular shipping services are necessary in order to keep the Dominion's primary products to the fore. Faster services might prove more costly, but Mr Macewan thought that regular steamers running direct to English market ports would prove of great assistance to exporters.

"Concerning the immediate future, the opinion is generally held in England that Australian production will exercise considerable influence on the London market," added Mr Macewan. "If there are heavy exports from Australia a drop in prices is likely. However, this does not alter the fact that in England there is very considerable goodwill toward New Zealand's primary products. It appears to me that New Zealand producers are not closely enough in touch with English requirements, principally in regard to the texture and flavour of cheese. There is an exceptionally good market for cheese, but it pmst be to the taste of the market. In this respect there must be general co-operation between producers and exporters, or considerable ground may be lost. "New Zealand frozen meat continues to be in good demand, and there are excellent prospects for the development of a market for frozen pork in right sizes and weights. It is absolutely necessary for everybody to work together on broad national lines. The value of Imperial trade is recognised now more, perhaps, than it has been in the past, but it is our duty to study the requirements of our overseas markets and do our best to meet them." NEW COMPANIES. AUCKLAND REGISTRATIONS FOR 1929. [TBS PRESS Special Service] AUCKLAND, December 30. The total capital of new companies registered in the Auckland district during the year 1929 was more than, double-that for the previous twelye months, exceeding £.5,000,000 by some thousands. This great increase is, however, more apparent than real, as there have been several amalgamations or mergers during the past twelve months, and the new companies naturally included the capital of the ones absorbed, though in some instances there is also provision for certain new capital should it be needed in the future. This means that the actual new capital to be provided under the registrations for 1929 is not anything so big as it appears at first. The amalgamations arranged this year included one combining a number of brick and tile works.

Out of 314 new companies there are fourteen with capital ranging from £ 100,000 up to, in one instance, £1,000,000. The company with the largest registered capital was New Zealand Newspapers, Ltd., of £1,000,000, and the smallest had a eapital restricted to three shares of £1 each.

A marked feature of the registrations is the large number of private companies, there being 244, as against seventy public ones.

TRADE DEPRESSION.

WORLD-WIDE UNEMPLOYMENT

PROBLEM.

[THE PBES3 Special Service.]

AUCKLAND, December 30.

"When one considers the conditions obtaining in other countries, New Zealanders should have no reason to be depressed over their unemployment problem." This statement was made by Mr C. P. Bennett, who returned to Auckland by the Aorangi after an extended trip abroad. The impression he gained was that the world had not yet recovered from the period of trade depression, and that unemployment was still a serious problem. "I visited twenty-five countries during my tour," Mr Bennett said. "With few exceptions there were general complains about the slackness of trade, and in consequence there were thousands of unemployed almost everywhere. This even applies to the United States, a country which has such a great reputation for prosperity. Even where trade was booming a year or two ago, with massed production in highly organised secondary industries, it is generally admitted to-day that supplies are in excess of the demand. The unemployed lists are growing instead of diminishing."

X.Z. AND RIVER PLATE. [THE FBESS Special Service.] AUCKLAND, December 30. Cabled advice has been received bv the local attorneys of the New Zealand and River Plate Land Mortgage Company, Limited, that the profit for the year ended October 31st. 1929, was £133,910. At the annual meeting to be held in London on Januarv 13th, the directors will recommend that a final dividend be declared, making a total of 9 per cent, for the year (lees income tax 4s in the £), and that £15,000 be carried forward to the reserve. Following is a comparison of the company's results for the last three venrs:— 19?7. 1928. 1929. £ £ £ Brought forward ... 44.839 45.389 45.793 Net profit ... 75.050 78.404 78,117 Totals ... 119.889 123,793 123.910 To Feserve ... 15,000 15.<K)0 15,000 Dividend ... Amount ... 59,500 63.000 63,000 Carried forward .... 45.398 45.793 45.910 The latest ncMition will raise the reserve to £280,000.