PERIOD OF CREDIT
LOCAL BUTTER MARKET
The New Zealand dairy conference today made a recommendation to the Director of Internal Marketing that regulations should be made limiting terms of credit on the local market so that butter delivered between the Ist and the 10th of the month would have to be paid for by the 15th, butter delivered between the 10th and the 20th would have to be paid for by the 25th, and butter delivered from the 20th to the end of the month would have to be paid for by the sth of the next month.
The merits and disadvantages of weekly and fortnightly credit periods were discussed by the conference. Mr. J. W. McConnon, of the Internal Marketing Department, said that weekly payments would not be satisfactory to a majority of those engaged in the industry, and that the Department was considering the fixing of two local prices, one for butter delivered and paid for within a certain time and another for butter paid for later. That would be equivalent to a discount system.
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Bibliographic details
Evening Post, Volume CXXVII, Issue 92, 20 April 1939, Page 10
Word Count
177PERIOD OF CREDIT Evening Post, Volume CXXVII, Issue 92, 20 April 1939, Page 10
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