THE PRICE OF BUTTER.

New Zealand Herald, Volume LXI, Issue 18897, 20 December 1924, Page 12

THE PRICE OF BUTTER.

FEBRUARY PRICES. MR. GOODFELLOW'S CHALLENGE REPLY BY MR. AICKIN. • A further contribution to the controversy on the prico of butter was made yesterday by Mr. Hugh C. Aickin, local agent for tho Opotiki Dairy • Association, who replied to Mr. W. Goodfellow, managing director of tho Now Zealand Cooperative Dairy Company, as follows:— On Friday, 12th inst., I received from the Opotiki Dairy Association, Ltd., a telegram despatched from Opotiki at 2.24 p.m., stating, "Just received offer seventeen three-farthings for butter afloat." A further telegram despatched from Opotiki at, 3 p.m. on tho same day stated, "Just received . offer eighteen three-eighths February shipment." It has been tho custom of the Opotiki Dairy Association to advise my firm immediately on receipt of offers which might act as a guide to their agents in regulating local prices. After so long an interval of inactivity on the part of overseas buyers as had prevailed, tho news contained in the Opotiki Dairy Association's telegrams of 12th inst. was of such importance to tho whole dairying community that I considered it a duty to pass the information on to tho press, particularly in view of the pessimistic forecasts regarding futuro butter values that were in circulation at tho time. I might state tint the informaion supplied by tho Opotiki Dairy Association was as great a surprise and delight to. mo as it has been to most others. Since the ■ accuracy of this information is denied by Mr. Goodfellow, I now hand to the Herald tho advices received from tho Opotiki Dairy Association, giving also the source, of these offers, to enable their genuineness to be ascertained. I recognise no obligation to accept dramatic challenges, nor to submit the Opotiki Dairy Association's affaire to other than the Herald, which published tho information in the same good faith in which it was given. After all, it may be of advantage that this controversy has arisen, as it has been tho means of Mr. Goodfellow obtaining information that ha previously lacked. He is reported to have stated in his interview, published in the Herald of 18th inst. : "Tho butter being made now and advanced against now will in £.11 like lihood not bo marketed until February, March or April, when the market may be down to 160s, equal to Is 3d f.c.b. His London manager has corrected' him in this i estimate, for he now reports, 'For shipment during January and February some London houses are reported to be offering Is 4£d f.o.b.' " STATEMENT BY BUYER. PRICES AS QUOTED. FOR UNSALTED BUTTER. On tho information supplied by Mr. Aickin, a Herald representative interviewed the Auckland merchant who made the offer to the Opotiki Dairy Association on behalf of a British firm. Of this merchant's standing there can bo no question. Ho is not concerned with the local market supply or prices as are the companies represented respectively by Messrs. Good fellow and Aickin. Ho refuses to disclose the identity of his principals in th«» matter, or to participate in the cont'ro ' versy, but in fairness to the Opotiki com pany stated tho facts, and showed to tho Herald representative the cablegram of inquiry from Britain. The price quoted for December butter was Is s|d, as pub lished, but the inquiry for February ship ment of Is 6|d referred to unsalted butter. In the telegram of inquiry sent to 'the Opotiki company the Word unsalted was inadvertently omitted. It was • subso quently corrected, but not before the in formation regarding the inquiry had been furnished to tho press by Mr. Aickin. To further clear the matter, it may bo stated that the butter was to be shipped to Britain, though not to London, and the quantity involved was not very great. The telegrams from the Opotiki company to Mr. Aickin apprising him of tho offers have also been perused by tho Herald representative. They do not mention the quantities required or the source of inquiry, but state tho prices and the dates of shipment as published. > LONDON MARKET QUIET. THIS WEEK'S QUOTATIONS. Messrs. A. J. Mills and Company, Ltd has received the following cablegram from London, dated December 18: The butter market closes quiet. New Zealand, Ist grade, salted, is quote at from 204s to 2065; unsalted 2125.