EFFORTS TO PREVENT FARTHER SLUMP

Evening Post, Volume CII, Issue 150, 22 December 1921, Page 7

EFFORTS TO PREVENT FARTHER SLUMP

(IT lIIMRAM.—INCIAI TO HI MIT.)

AUCKLAND, This Day.

Yesterday the secretary of the New Zealand Co-operative ' Dairy Company (Mr. T. L; Hames) stated that Mi\ William Goodfellow, managing director- of the company (who is now in England), had cabled that endeavours were being made by the representatives of the New Zealand and Australian producers, now in London, to formulate a scheme to prevent any further slump. The matter, said Mr. Hames, was also being dealt with at this 'end, while consideration was being given to it by the Australian and New Zealand Governments with a view to co-operating with producers, so as to prevent the disposal of Imperial Government stocks in such a way as to completely break the market. No doubt the New Zealand Government -would give most careful consideration to the matter, while Mr. Goodfellow and others were doing their utmost at the other end. It was hoped that some satisfactory arrangement would be made in the near future, and i« all probability a conference of butter producers would be held in the Dominion early in tfhe New Year. Mr. Hames mentioned that the Im--1 perial Government now held over 20,000 tons of butter, neatfy half of which, he understood, was New Zealand make. Were this of good .quality and fresh, it would not take the market long to absorb it at reasonabla prices. Discussing advance payments for December, Mr. Hames said nothing .definite could be said at present; The position was critical, and unless there was an improved .tone in tho market, some temporary reduction in advances for butterfat might bo necessary. But if the present difficulty could' to overcome, the butter market should be fairly satisfactory with a return to normal condition*.,