DAIRY PRODUCE

Press, Volume LXXI, Issue 21483, 27 May 1935, Page 13

DAIRY PRODUCE

LONDON QUOTATIONS The New Zealand Dairy Board has received the following market report from its London office dated May 24, 1935: Buttter—New Zealand salted, 79s to 'Sis (Last week 77s to 78s), equals approximately 9.21 d. f.0.b.; unsalted, 79s to 82s (78s to 80s); Australian salted, 78s to 80s (75s to 765); unsalted, 78s to 79s (75s 6d to 765). Market firm. Good demand. Argentine unsalted, 71s to 73s (steady) (70s to 735). Irish cream: Salted 78s to 85s (775); unsalted, (78s); Danish, 97s to 98s spot, 77s to 78s fo.b. (89s); Dutch unsalted, 70s to 77s (67s to 755); Siberian salted, 72s to 75s (68s to 70s); Ukranian salted, 72s to 74s (67s to 68s); Lithuanian unsalted 72s to 745, ex. 76s (70s to 72s>; Estonian salted, 73s to 745; unsalted 745. Market firm. Danish retail price unchanged Is. New Zealand retail pi ice unchanged lOd. Cheese—New Zealand white, 43s to 43s 6d, 45s (4.53 d f.0.b.); coloured, 44s to 41s Cd (4.66 d f.0.b.) (445). Australian: white, 41s 6d to 42s (425); coloured, 42s (42s to 435). South Africa: White, 425. Canadian: White, 62s to 64s (61s to 645): coloured, 60s to 64s (60s to 625). English finest farmers, 82s to 90s (82s to 90s); English factory cheese, 38s to 42s (38s to 425). Market quiet. New Zealand retail price unchanged, 6d. London also advises that 4480 casks of butter were shipped from the Continent to New York this week. The minimum f.o.b. prices from May 25 until further notice are:—Butter, 9id less li per cent, commission (79s 8d c.i.f.e.); cheese sd, less li per cent, commission (44s c.i.f.e.). The board has also received the following advice from its agents in Canada:—Butter, 26} cents New \ork, 21 cents Montreal,

COSTS OF HANDLING IN LONDON BGAKD'S figures The New Zealand Dairy Produce Board has prepared the following figures to show the cost of cold storage and handling in London on buttei and cheese: — BUTTER (per ton of 35 Boxes) November May to to April. October. Port dues 2/6 less 7-\ p.c. ■ - 2/3.75 2/3.i0 Consolidated late 107- less 11 p.c. 15/8.04 15/3.64 Storage for 2nd 7 days ■ ■ Free. C - Storage for 3rd _ seven days .. G, - 5, - Storage for 4th and any subsecient 7 days .. 5/- 5/These rates work out at:— Landing and storage for first 14 days at per cwt. of butter . . 1 0.37 1/4.5 Cost of Holding Butter—On basis of present charges and market values 'say 78/-) we estimate the cost of holding butter in London (including storage, interest, and insurance) at 1/8 per cwt for each month after first 21 days after landing. CHEESE (rates per ton of 13 crates) Port dues l'O less 1\ p.c. .. 1/4.65 Consolidated rate 'including 7 days free storage.) 15/- plus 1? jxc. .. 15/3.15 Rent for second and any subsequent 7 days .. l'O These rates work out at:— Landing and storage first 14 days at per cwt. of cheese 11.84 d Cost of Holding Cheese - On basis of present charges and market values (say 455) we estimate the cost of holding cheese in London (including storage, interest, also .shrinkage at rate of I .per cent, per month) at. Is per cwt. (approximately) for each month a'ter first 14 days after landing. Th": consolidated rate covers the following services:—Taking delivery from ship, lighteiage, landing, sorting to marks and grades, renewal to cold store, cold storage for one week, delivery to land conveyance.

N.Z. BREWERIES

FINAL DIVIDEND OF PER CENT. (PRESS ASSOCIATION TEIF.QRAM.) WELLINGTON. May 2G. New Zealand Breweries. Ltd., has advised the Stock Exchange Association that at a meeting of directors held on Thursday it was decided to recommend to shareholders the payment of a final dividend of per cent, for the period ended March 31, 1935. making 7 per cent for the year. The dividend, if passed, will be paid immediately after the annual meeting of shareholders to be held in July. [The net profit in 1934 was £76,821, when a divi J end of 7 per cent, was oaid. The dividend in 1930 was 15 per cent., and the net profit £123,038.] NATIONAL MORTGAGE CORPORATION iFRESS ASSOCIATION TELEOIIAM.I WELLINGTON, May 25. The Acting-Minister for Finance (the Hon. Adam Hamilton) said to-day that he was unable to give details regarding the subscriptions to the National Mortgage Corporation, as the applications were still coming in, and many posted yesterday would probably not arrive until Monday. There was no doubt. )>e said, that the issue was over-subscribed. CABLES AND WIRELESS, LIMITED REPAYING PREFERENCE CAPITAL (i;xitj:d association'— by ellctric TELKGUAPU — COPYRIGHT.) (■Received. May 20, 9.3 p.m.)

LONDON, May 25. There was considerable activity, with sharply rising prices, after official hour; on the stock exchange, in preference and ordinary shares in Cables and Wireless, Ltd., in consequence of the unexpected announcement by Mr J. C. Denison-Pender (managing director) at the meeting, of a decision to repay at par onethird of Ihe company's £23,000,000 preference capital. BRITISH TREASURY BILLS (HUlTlall OFFICIAL WIRELESS.) (Received May 2G, 7.5 p.m.) RUGBY, May 24. The total amount applied fo»* in tendei'S for £40,000,000 in Treasury Bills was £57,885,000, and the maximum amount was allotted in bills a.t three months. The average rate per cent, was 10s 5.!)0d, compared with 10s 2.95 d a week ago.