LONDON DAIRY PRICES.

New Zealand Herald, Volume LXVII, Issue 20520, 22 March 1930, Page 7

LONDON DAIRY PRICES.

BUTTER MARKET DULL.

NEW ZEALAND 136s TO 138s.

LONDON, March 20.

Tho butter markeft is dull. Danish is quoted at 1555; choicest salted New Zealand, 136s to 138s; Australian,. 132s to 1345; unsalted New Zealand, 150s to 1525; Australian, 136s to 138s. The cheese market is slow. New Zealand white is quoted at 82s; coloured, 83s; Australian, 80s to 81s.

REPORTS FROM MERCHANTS.

EB'FECT," ON " BEAR 'l MOVEMENT,

Dalgety and Company, Limited, report having received the following cablegram from their London house, dated March 20:—Messrs. Samuel Page and Son report:—Butter: Now 134s to 138s, top price quoted exceptional. Cheese: Now, white 81s to 82s, coloured 82s to 83s.

Amalgamated Dairies, Limited, report having received the following market cablegram fronr London, dated March 20: Butter: Tho previously reported "bear" movement is still succeeding in tho absence of any general demand. Best 138s, other finest now 1365. Danish butter, 148s to 150s f.o.b. Cheese: Again suffering under the general depression. White 81s to 82s, coloured 83s.

Joseph Nathan and Company, Ltd., have received the following cablegram from their London agents, Trengrouse and Nathan, Ltd:—Butter, 1365; market quiet. Cheese, white 81s, coloured 82s: market weak.

Andrew Clement and Sons, Ltd., have received the following cabled advice from their London office, dated March 20: — Markets are dull. Butter, 134s to 1365. Cheese, 82s to 84s. The Surrey, Mahana, Port Sydney, Ferndale and Rangitata have arrived. W. W. Bowker has received the following cablegram from A. J. Mills and Company, Limited, London, dated March 20: —Butter: The market is quiet. New Zealand finest, 1365; first grade, 134s to 1355; Danish, 154s to 1565; Australian, 1345. Cheese: The market is slow. New Zealand white, 82s; coloured, 83s. MARKET HEAVILY SUPPLIED NEED OF REORGANISATION. METHODS OF AUSTRALIA. LONDON, March 20. The Australian Minister of Trade and Customs, Mr. J. E. Fenton, speaking at a meeting of Tooley Street merchants, urged the reorganisation of the market to allow of the liberation of the supplies of butter already in London, which this week are 30,000 tons in excess of those in the same week of 1929, while Argentine and New Zealand supplies are much above the normal.

The merchants intimated that they were equally interested, and prepared to do all possible individually, or in conjunction with the different Governments concerned, to adjust the trade. The speakers pointed out that prices were affected because the Australian producers were selling direct f.o.b. at Melbourne. Meanwhile excellent Australian butter could be purchased in London at Is 4d per lb. retail. ADVANCES ON PRODUCE. LONDON MARKET RATES. Advice of a decrease in advance rates for New Zealand dairy produce has been received by Messrs. Leonard and Son from their London principals, A. 0. Rowson, Ltd. A cable received yesterday morning states that advances on butter have been reduced from Is Id to Is a lb. and on cheese from 7gd to 7d.

BANK OF AUSTRALASIA.

NEW RECORD IN PROFITS.

A new record in profits has been de- ! clared by the Bank of Australasia for the year ended October 15. There has been an increase every year since 1923, when the amount was £618,558; for 1928-29, the not profit was £677.183. As announced on March 1, the dividend has been maintained at 14 per cent., for the fourth year in succession and £25,000 has been added to 'the reserve fund, increasing it to £4,475.000 as against the capital of £4,500,000. Results and appropriations for the last three years have been as follows:

1927. 1928. 1929. Brought forward £135,503 £139,568 £139,760 Net profits 654.0G0 675,192 677,183

£789,568 £814,760 £816,948 To reserve 40,000 Premises account 50,000 80,000 Dividend 14 p,o. • 560,000 595,000 630,000

Carried forward £139,568 £139,760 £161,943

STOCK SALES.

TE AWAMUTU AND KAUROA.

The "Farmers' Co-operative Auctioneering' Company, Limited, report having held their Te Awamutu stock sale on Thursday, when a good yarding of all classes of cattle and sheep was penned. Sheep realised late rates, while beef and store cattle showed a further slight decline. Quotations:—Cattle: Fat bullocks, £l2; fat cows, £10; medium fat cows, £7 Qs 6d to £8; light, £5 17s 6d to £7; forward-conditioned cows, £5 to £5 12s 6d; store cowa, £3 to £4 7s 6d; vealer3, £2 7s- cows with calves, £3 to £8; twoyear Shorthorn steers, £7 to £7 ss; heifers in calf, £-1 2s 6d to £5 12s Gd; heifer calves, £2 12s 6d to £2 16s; good quality Shorthorn steer calves, £3 lis to £i. Sheep: Pat wethers, 23s 9d to 25s 9d: fat ewes, 23s 9d: fat lambs, 19s; best mixed sex lambs, 13s 7d to 16s; lambs, shorn, 9s Id to 12s 8d; f.m. ewes, lis to 15s 6d. Pigs: Porkers, £2 7s Gd to £3; stores. 33s to £2 ss; slips, 23s to 30s; weaners, 12a to 17s 6d. The company reports having held the usual Kauroa sale on Thursday, when an extra large yarding of all classes of stock canio forward. A good entry of forward-con-ditioned three and four-year-old bullocks of exceptionally pood quality met with fair competition. Late rates were maintained for younger cattle, and store and fat cows. Quotations:— Sheep: Store wethers, 185.6 d; f.m. ewes, 14s Gd; good framed lambs, 14s; shorn lambs, 9s Gd. Cattle: Light and medium fat cows, £6 10s to £7 IQs Gd; forward cows, £4 12s 6d to £ 5 18s; store cows, £3 to £4 ss; cowsi with calves, £3 10s to £8 10s; three and four-year Shorthorn forward-conditioned steers, £lO to £lO 10s; 2i to 3i-year Hereford cross and Polled Angus steers, £8 19s to £9 17s 6d; three-year Shorthorn steers, £9 5s to £9 16s; 2J to three-year steers, £7 7s 6d to £8 14a; 18-months mixed colour steers, £4 15s to £is 14s; Shorthorn steer calves, £.2 10s to £3 4s; Jersey-cross heifer calves, £3 2s to £3 17s; dairy heifers, £6 15s to £7 6s; potting bulls, £3 10s to £6 15s. WHAKATANE QUOTATIONS. At the Whakatane stock sale held on Thursday by Dalgety and Company, Ltd., a full yarding 6f cattle and a small yarding of sheep and pigs came forward. In sympathy with other recent sales prices wera a shade easier, but a total clearance was effected, with the axception of two or three pens of dairy weaners. Quotations:—Cattle: Best fat cows, £6 10s to £7 2s; others, £5 5s to £G; fresh cows. £4 to £5; store cows, £3 10s to £4; aged and low-conditioned cows, 15s to £2 10s; fresh and forward-con-ditioned bullocks, £lO 10s; mixed colour three-year-old steers, £7 3s 6d; two and Bi-half-year-old Hereford steers, £7 lis to £8 9s; two and a-half-year-old Polled Angus steers, £7 17s 6d to £8 8s; 18-months Polled Angus steers, £6 5s to £fi fis; two and a-half-year-old empty Hereford heifers, £5 15s to £6; 18-months empty Hereford and Polled Angus heifers, £5; mixed cows and calves, £5 15s; heavy Shorthorn bulls, £7 to £8 10s; fat Jersey bulls, £4 10s to £5 ss; light Jersey bulls, £3 to £4. Sheep: Shorn mixed lambs, 18s Sd; smaller, 10s. Pigs: (sood Tamworth-cross slips, 245. PROPERTY SALES. Alfred Buckland and Sons. Limited, will offer at auction at "Waiuku at noon on Monday, prior to the clearance sale of stack, Mrs, Selby's farm of 181 acres, with homestead and buildings. J