Stabilisation Account £2,667,600 Higher
WELLINGTON, Wed. (Sp.).—ln the year ended July 31 the Dairy Industry Stabilisation Account increased by' £2.667,G00 to £15,331,087. The balance in 1948 was £12,663,487 and in 1947, £8,907,459 the accounts of the New Zealand Dairy Board show.
The levy on dairy produce ol' O.OGd per lb on butter and 0.03 d per lb on cheese produced £118.195. against £106,136 the previous, year Grants totalling £70.282 were made to institutes and funds, including a contribution of £20,660 to the Veterinary Services Council, £2 n ,000 to the herd improvement plan, and £17,000 to the Dairy Research Institute. The returned servicemen’s discount on herd recording was £11.047 and the Mercantile Marine gif. butter fund benefited by £1555. The excess of income over expenditure, amounting io £36.270. was 1 transferred to the accumulated fund, which now stands at £129,043. The report states that although a
substantial surplus had been transferred to the accumulated fund as a result of the year’s operations, it was expected that expenditure for veterinary service, herd improvement and possibly research would increase, so that a much larger proportion of the levy would be absorbed.
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Northern Advocate, 28 December 1949, Page 3
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189Stabilisation Account £2,667,600 Higher Northern Advocate, 28 December 1949, Page 3
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