BUTTER-FAT PAYMENTS

New Zealand Herald, Volume LIX, Issue 18192, 11 September 1922, Page 8

BUTTER-FAT PAYMENTS

TWO CHEQUES THIS MONTH.

APPROXIMATE TOTAL £320,000.

.ADVANCE AND BONUS.

A total cash distribution exceeding £300,000 will be made this month to suppliers by the New Zealand Co-opera-tive Dairy Company, Limited. This statement was made in Auckland on Saturday by Mr. W. Goodfcllow, managing director of tho company.

The amount, Mr. Goodfcllow said, comprised two separite payments. One was a sum Of approximately £150,000, being advinco payment for August cream and milk at the rate of li| 7£d per lb. butterfat, for superfine direct delivery. This would be distributed on September 20. A second payment, covering the supply froth October' 1, 1921, to April 30, 1922, would be made at tho end of this month, at the rate of lid per lb. butter-fat, amounting to approximately £170,000. The company's output of butter for August exceeded 1000 tons, an increase of 46 per cent, compared with tho same month of last year. Mr. Goodfcllow stated that the company was now again prepared to give suppliers limited facilities for tho purchase of additional cows, and also pedigree bulls upon extended terms. The directors had recently approved of a scheme for tho issuing of certificates in connoctioii with thei herd-testing, and was further co-operating with the Farmers' Union in extending and popularising the herd-testing movement. It was recognised that tho only salvation for many dairy farmers was to increase substantially the present low output of butterfat per cow, and this must now become the most urgent reform.