TARANAKI PRODUCE.

New Zealand Herald, Volume LXVIII, Issue 20842, 8 April 1931, Page 5

TARANAKI PRODUCE.

LARGER BUTTER OUTPUT.

CHANGE OVER FROM CHEESE. « CONGESTION IN STORES. The recent change over by many Jaianaki dairv factories from cheese-making to butter-making, combined with the fact that there have not been sufficiently heavy allocations of shipping space lot the produce at New Plymouth has been t!io cause of serious congestion aL the Motnroa freezing stores. Addressing the recent conference of 'Jaranaki auiry factory managers, Mr. J. Biown, chairman of directors of the Tarauaki Producers' Freezing Company, said that the position was causing considerable concern.

Normally, lie said, there was storage room at the works for 54,000 boxes of butter and 80.000 crates of cheese. At the moment, however, there were in store 50,000 boxes of butter and 15,000 crates of cheese, and by April 11, the dale of the allocation by (he Port llobart, there would be 67,000 boxes of butler in store if there was room for it. He pointed out that Ihe conversion of cheese chambcis into butter chambers would take time and, moreover, was a costly business. There was the possibility also that next vear the companies might revert to cheesemaking, in which case the expenditure oil conversion would be wasted.

The Moturoa stores, lie continued, had so far received 259,795 boxes of butter and 203,322 crates of cheese, compared with 316,042 l>o.\es of butter and 237,869 crates of chcesp lo the end of June the previous season. Itoiii March 1 to March 25 lliis season tlioy had received 37,622 boxes of butter and 16,099 crates of cheese, compared with 27,927 boxes of butler and 22,155 crates of cheese for the same period la.il year. '1 hus, in that short period, there had been an inciease of 10.622 boxes of butter and a decrease of 5156 crates of cheese.

If factories reverted to cheese-making next year the storage difficulty would, of course, be only a temporary one, but if, on the other hand, directors knew that factories were going to manufacture butter (hey should take steps to provide the necessary storage. In view of the depression the directors had reduced storage charges but if the present position continued the old rales would probably have to be reinstated.

The allocations of shipping space up to the first week in May were as follows: April 9, Middlesex, 4760 crates of cheese; April 11, Fort llobart, 16,300 boxes of butter; April 20. Tongariro, shipment for. West Coast ports; April 21, Hertford, 7000 boxes of butter and 3800 crates of cheese; May 7, Port Hunter, 3500 crates of cheese, and Taranaki, 4500 boxes of butter and 2500 crates of cheese. JOSEPH NATHAN AND CO. DIVIDEND OF 10 PER CENT. PROFIT OF £68,066 FOR YEAR. [FUOM Ol'll OWN" COMIESrOSUENI.] LONDON. March 0. The annual report of Messrs. Joseph Nathan and Co. shows that net profits amounted to £68,066, compared with £65,377 in the previous year. After payment of one year's dividend on flic 7 per cent. A preference shares, and placing £9440 (against £5000) to reserve, the directors propose paying a year's dividend on the eight per cent, preferred ordinary capital, and a dividend of 10 per cent, on the ordinary capital (the first since 1922), providing for income tax £4OOO, leaving £32,701, compared with £32,261. Since the closing of the books the halfyearly dividend on the A 7 per cent, preference shares, due January 1, 1931, has been paid. It is estimated that the losses arising through the destruction by the recent earthquake of the company s ofiices at Hastings, and the devastation in the Hawke's Bay district, will not exceed 500 °- " Conservatism in finance, says llie Financial Times, commenting on the report, has been so outstanding a feature of the board's policy that'shareholders can rest assured that the return of the ordinary shares to the dividend list with a, distribute 10 per cent., or 21 per cent, more than the last payment, in involved no strain upon the company s cash resources. They will, none the less, be gratified to find from the accounts that the financial position is even more satisfactory than earlier appeared probable. Profits of subsidiary undertakings have been included, as usual, to the extent only of dividends declared, and there have been in> losses."

THE LONDON MARKETS. PRICES FOR METALS. (Received April 7, 0.55 p.m.) LONDON. April C>. (Quotations on March o0 in parentheses.) Copper.—Spot, £43 3s Off (£43 Is 10nd) ; throe months, £43 15s (£43 15s 7jd). Electrolytic Copper. —Spot, £45 10s (£45 15s); three months, £46 10s (£46 155.) Wire Bars. '£46 15s). Lend, —Spot, £l2 15s (£l2 3s 9d); llncc months, £l2 18s 9d (£l2 3s 9d), Spelter.—Spot, £l2 (£ll 10s); three months, £l2 lis 3d (£l2). Tin. —Spot, £ll9 6s 3d (£ll9 lis 3d); three mouths. £l2O 13s 9d (J. 121 Is 3d). Silver —Standard, 12 7-8 d (13 3-16 d) pei ; line, 13 7-Bd,(l4Jd). DAIRY PRODUCE PRICES. Joseph Nathan and Company, has received the following cablegram from Trengrousp and Nathan, Limited, London: Butler, Ills; more inquiry. Cheese, white and coloured, 51s lo 545. Amalgamated Dairies, Limited, has received the following cablegram, dated London, April 2:—flutter, finest, generally now Ills; after touching, 110s; retail price, Is 2d. Cheese, prices unchanged to Is less; market very slow. CHICAGO WHEAT MARKET. CHICAGO, April (i. Wheat.—.May, 84 cents per bushel; Julv, G14 cents; September,. 60$ cents; December, 63§ cents. PRODUCE AT PUKEKOHE. I from Of It OWN CORRESPONDENT. J PUKEKOHE, Tuesday. Quotations for new potatoes grown in the Pukekohe district lmve remained unchanged for the past fortnight, at about £5 5s a ton f.o.r. Pukekohe. Locallygrown onions have also remained linn at £8 5s a ton, f.o.r. Pukekohe. Tho volume of business continues Lo be small in both lines.