FEBRUARY BUTTER.

New Zealand Herald, Volume LXI, Issue 18888, 22 December 1924, Page 8

FEBRUARY BUTTER.

PRICES AND PROSPECTS. [bv telegraph.—own correspondent.] HAMILTON. Satuidaj. .Some comments on the recent controversy regarding the price of butter were made to-day by Mr. W. Goodfellow, managing director of the New Zealand Cooperative Dairy Company. * "My challenge," said Mr. Goodfellow, "has drawn from Mr. Aickin the material facts concerning this offer for February butter, and the producers now know just what weight to attach to it. Instead of that price being the price of ordinary salted butter, it proves to have been onlv an inquiry for a small parcel of unsalted butter—quite a different thing. "I nominated the chairman or manager of tho Auckland Farmers' Freezing Company, Ltd.," Mr. Goodfellow continued, because they have expert knowledge of those trade terms and conditions of importance in price offers which would be lost upon a man unconnected with the trade, however fair-minded he might be. Mr. Aickin chose not to submit his case to the judgment of experts. However, we have been given enough information to reveal the salient facts. The facts as stated are that an Auckland merchant (name not given), representing a British (not a London) house, whose name is also withheld, submitted an inquiry to Mr. Aickin's principals for 'not a very great ■quantity' of unsaltcd butter, of a grade not specified, to be shipped in February next at Is 6 3-8 d f.o.b. to a port away from London. "It was just what I anticipated would be revealed when I issued my challenge," Mr. Goodfellow added. "This limited and isolated inquiry for a single small parcel ■of unsaltcd butter (which generally commands a premium over salted varying from Jd to li,d per lb), was communicated to -the press by Mr. Aickin as a general revival of buying at increased pric(% If .was promptly met by astonishment in Sydney and Melbourne, and was discountenanced by inquiry among London tmycrs who stated that their extreme idea of February values was Is >U6, and not Is 6 3-Bd. h ß "™ . fi . that Mr. Aickin, when 3&£S& Til lnfor ™t, on he received on the press for Mondav, did not, W that the inquiry was for only a small parcel of unsaved butter. Ho will . torefpre probably question his own wisdom.yu issuing the statement without checking that information from those™

intimately connected with the export business, to whom the disparity in prices with expectations would immediately have been apparent, but fie repeated his statement on Wednesday, when he tooi it upon himself to criticise my company's policy, and he reaffirmed, on Thursday, the existence of the offer as, a general offer, when I questioned its accuracy. It was f not until Saturday, under pressure of my ! definite chal'enge, that the vital details •which put the offer in its right perspective were given to the producers and public. The producers now know tho material facts, and in face of the quietness of the London market since tho extraordinary announcement of a week ago, and in view of the general forward provision, car, remodel any undue expectation that ii, y have be-in inspired by Mr. Aickin's iatement. Tho producers know what makes a market is the figure at which substantial business can be done for tho bulk of the produce available, that figure is not the figure submitted by Mr. Aickin." LONDON QUOTATIONS. ADVICES BY CABLE. Messrs. A. H. Turnbull and Company have received the following cablegram from Messrs. W. Weddel and Company, Ltd., dated London, December 19:— New Zealand first-grade uns-alted butter, 212s to 2145; New Zealand first-grade salted butter, 204s to 208s. Tho market is quiet. New Zealand fist-grade cheese, white 965, coloured 95s to 965. There is a good inquiry. Messrs. Dalgety and Company, Ltd., hars received the following cablegram froi'i. their head office, London, dated Dccemoer 18: — The butter market is very quiet. Total imports into the United Kingdom for November were 372,000cwt., as against a total for November. 1923. of 388,000cwt, We quote: New Zealand, exceptional brands, 210s; butter, salted, 208s; Danish butter, 2465; finest Australian, salted 190s, unsalted 1945. The cheese market is quiet. Quotations are: White, 9.65; coloured, 945.