MONEY FOR BUTTER-FAT.

New Zealand Herald, Volume LXVII, Issue 20720, 13 November 1930, Page 13

MONEY FOR BUTTER-FAT.

SUPPLEMENTARY PAYMENT. TE AWAMUTU COMPANY. [dy telegraph—own correspondent.] TE AWAMUTU. Wednesday. The Te Awamutu Co-operative Daily Company, Ltd., made 128 tons of butter in October. The output for the five months of the season to date is 301 tons, compared with 270 tons for the same period last £ear. The advance payment to suppliers for October butter-fat is lOd per lb. for finest quality, shareholders being credited with id per lb. additional. The company is also making a supplementary payment of ljd per lb. butter-fat on all supply received in and May last. In a circular to suppliers the company explains that this surplus unexpectedly accrued owing to the conservative figure at which last season's unsold butter was taken into stock in the balance-sheet, and that the payment is over and above the amot/nt shown in tho company's annual accounts. At'a meeting of directors yesterday the price of butter on tho local market was discussed, and the following resolution was passed: "That the executive of the South Auckland Dairy Companies' Association be asked to hold "an immediate inquiry with the object of ascertaining, first, the responsibility for tho present unsatisfactory wholesale price of butter in Auckland; and secondly, whether a satisfactory Fcheme can be evolved to the price of butter on the local market.