IN LONDON.

Evening Post, Volume LXXVIII, Issue 8, 9 July 1909, Page 3

IN LONDON.

BUTTER AND FINANCE. MOISTURE AND FISHINESS. SOME COMPLAINTS. Mr. Xewton King, of New Plymouth, in the course of an interview with a Post reportei yesterday had some interesting things to talk about with reference to the visit to London of Mr. J. B. Connett (also of New Plymouth) and himself. The chief object of the errand of both gentlemen was in connection with the flotation of the New Plymouth Harbour Loan of £100.000 which was a financial success. But Mir. King found time to see other things. "Did you find your way into Tooleystreet?" Mr. King was asked. He had. "It was late in the season, you know," he added. "I asked how our butter had turned out for the season so far as it had gone, and I found that there were complaints in many quarters of a, deterioration in its quality so far as last season's make was concerned. It was very 'fishy,' they said ; and it was a question whether or not this condition was due to the use of the combined churn and worker. I accept no responsibility for this statement. I give* it to you as it was told to me in Tooleystreet. I could see no reason myself why it should be so." THE BLENDERS' CASE. Then the vexed question of moisture in butter was referred to. As for this Mr. King said buyers complained very much about excessive moisture. "Originally New Zealand butter," lie continued, "had been an extremely dry butter. It was consequently much sought after by blenders. "Blenders' meant" our market. I see no harm in blending. If our butter is worth more by reason of its dryness, then by all means let iis get more. People may say what they like, but 1 feel convinced that blending butter with butter, and selling it under the blender's own brand is a practice that has come to stay in England. We cannot alter it." "But is it not the fact that makers here are anxious to put New 'Zealand butter on the market as New Zealand butter, and to have it sold as such?" "That is the ideal. A very good' ideal, too ; but I can see no reason why it should not be blended. Ideals are all very well; tout they are going out of fashion in England. There every grocer likes to have his own brand on the butter. You can take it from me that blending has come to clay. Siberian and Argentine butters were excellent in quality, and had much improved. They would require watching." NEW ZEALAND CHEESE. Reference was made to New Zealand cheese. Of its handling 'Mr. King saw much. He visited a large number of cheese warehouses, and looked into the matter thoroughly. "Of our cheese," he said, "I did not hear a single complaint. In fact, the remarks made as to our cheese, its quality and get up, are very, very different from what they were when I was Home last, some eight years ago. That which is graded first-class in New Zealand is looked upon in England as about as high in quality as one can get for the imported article." Mr. King, when asked if he was satisfied with th£ English treatment of New Zealand dairy produce, replied that undoubtedly such produce received fair treatment in the London market. A lot of people thought otherwise when the slump in the butter market occurred last year. But it was not so. It was simply "cmo to the ?xtreme, not to say reckless, speculation in buying that took place last year. But I have not the slightest doubt now, but that the dairying industry of this country is on a safe footing." ENGLISH MONEY TIGHT. Financial matters were touched upon. There was much on this subject that Mi-. King could have said, but declined to say. He found, however, when in the City, that money was veiy much tighter in England as n whole, so far as colonial securities were concerned, than they were wont to be. "I believe," said Mr. King, comparing the State of affairs to-day with what he saw in London eight years ago, "that this is in great measure due to the investor expecting more than the 4 per cent, he used to get a few years ago. Investors are doing a lot better at Home. They are getting 54 per cent, and 6 per cent, on mortgages, and the propositions offered to them are more attractive than we have been offering." THE" SCARED INVESTOR. "But the New Plymouth loan?" "Well, that was attractive; don't you think so ? Well, then there is the Argentine. There is an immense amount df money going into that country, and on most satisfactory terms to lenders. The graduated land, tax here is alwaj^s thrown up in one's face when at Home. Everybody in the financial world refers to it. This has no doubt served to scare off investors." Mr. King and Mr. Connett went Home through Canada, and "the latter lis a practical farmer. They saw Canada only from the railway carriage window. But they came to the conclusion, from what they did see, that it must be very difficult indeed for the Canadian to live on equal terms with the New Zealander, considering that Canada is five months under perpetua l snow.