"AWAIT EVENTS"

Evening Post, Volume CXIII, Issue 64, 17 March 1927, Page 10

"AWAIT EVENTS"

MR. GROUNDS' INTERVIEWED (By Telegraph.) (Special to "The Evening Post.") ' ' AUCKLAND, This Day. Butter is being quoted on the London market at 14fe to 148s, and cheese at 76s to /Bs, according to advice by cablegram received at 1 ■ o'clock yesterday by te chairman of the New Zealand Dairy Pr^ duce Board (Mr. W. Grounds), who is at present in Auckland. The advice added that produce was moving slowly, and it was evident that bic buyers were holding off the market h . ViGroimds, said the board anticipated that there would be a considerable fall in prices before a sales basis was reached, ilie decline was serious, however, and in the case of butter particularly so The last prices named for butter by the board beoro the change in policy wore 158s and lbOs, against 146s and 148s at the latest advice—a decline of 12s within about two days Ihe decline in the case of cheese was 6s to 7s. Mr. Grounds added:— ' My personal view is, as the country Knows, tliat it was disastrous to abandon price-fixing. Asked how he proposed to reconcile the clearance of large weekly qoutas with fixed prices, Mr. Grounds said: "I will not discuss that point now. The board has taken the view that sales must be made, and has removed the price restrictions I must support the policy of the board, and 1 intend to use my best endeavours to secure v maximum of success under the new policy. "What are the prospects? Well, no man could venture a confident opinion at tho moment. All that I can say is that the market appears stagnant at the moment. We shall have to await events for a workable basis.