WEALTH FROM LAND.

New Zealand Herald, Volume LXIII, Issue 19513, 17 December 1926, Page 12

WEALTH FROM LAND.

DAIRY PRODUCE: PAYMENT** MONEY FOR CHRISTMAS.nearly two millions. [lsl* TEXISGBAPH. OWN COEIiESMNDIIxr.J WELLINGTON. Thursday. The New Zealand Dairy Produce Exporter states that something in the • vicinity of -£2,000,000 of dairy money. will bo paid" out to farmer'; on December 20, just prior to Christmas. 'litis will be hi respect of deliveries of cream and milkto butter and cheese factories throughout November- and is based upon the advances ruling for November-graded produce. The deliveries into grading store of batter for November totalled 10,251 tons and of cheese 10,655 tons. Differential payments are made for the various qualities—finest, first and second grade--but the statistics collected by the Dai rv Board from the Dairy Division's; Grading show that approximately 65 per cent, of butter so far graded is finest, 31 per cent, first, grade, and 4 per cent, second grade. On this; ratio the total advances for " butter made in November will be' £1,132,000 on the advance basis fixed by Loudon merchants. As a matter of fact", however, many factories are in a financial position to make payment to their suppliers on a higher basis tlan this and as tho market prospect for November produce warrants tho expectation of a return of something between at.least Is 4d and Is 5d f.o.b. it is certain that a great' many factories will make payments cm a mpire liberal basis than is, since increased to Is 2d for grading from December 4, The same position applies largely to cheese, the advance for which in November was 6d {since increased to 7d). Of the total make of cheese approximately 45 per cent, is finest, 60 per cent is first grade, and 5 per cent, second grade. On these ratios tho advances to bo drawn would total £566,250. This would uiako the aggregate advance on minimum figures £1,698,576. Allowing for the fact mentioned that dairy companies would be able to arrange accommodation for higher advance payments the money being put. into circulation on December 20 will certainly exceed £1,750,000 aud will probably go close to .£2,000,000.