DAIRY INDUSTRY

New Zealand Herald, Volume LXXII, Issue 22142, 22 June 1935, Page 9

DAIRY INDUSTRY

THE HIKURANGI COMPANY RECORD OUTPUT OF BUTTER PAYMENTS FOR PAST SEASON [from our own correspondent] WHANGAREI, Friday The output of butter by the Hikurangi Dairy Company," Limited, for the season ended May 31, was the highest since the company's inception, states the chairman of directors, Mr. L. Webb, in his annual report to suppliers. The amount was 2130 tons, an increase of 195 tons, or 10.12 per cent, compared with the previous year. The number of suppliers was 730, an increase of 17 over the previous season. Owing to the serious flooding during December and January, a quantity of the northern supply was diverted to Bay of Islands and Kaikoho factories and this curtailed the percentage of increase. The quality of the company's output has been well maintained, the average grade of butter being 93.038. Of the total output, 57.7 per cent was sold f.o.b.

The accounts reveal that there is £26,355 available for distribution. From this the directors propose payment of a dividend of 3fr per cent on all eligible fully-paid shares, and further payments for butter-fat amounting to £25,772,' as follows: —June and July supply, Id per lb.; August, September, October, 2d; November, lid; December, January, Id; February, March, April, 2d; May, lid. Tho average price advanced for superfine butter-fat with cartage added is 8.260 d per lb., as against 8.625J last year. With deferred payments, dividend and cartage added, tho average is 9.863 d, as against 9.665 d last season. Tho average prico advanced for first-grade butter-fat with deferred payment, dividend and cartage added is 9.519 d, as against 9.456 d last season. For second-grade butter-fat the average, with deferred payment dividend and cartage added, is 8.498 d per lb. Tho financial position of the company as revealed in the balance-sheet is very sound. Cream cartage and manufacturing costs continue to show reductions, the cost per lb. of butter from farm gate to f.o.b. steamer being 1.395 d, compared with 1.571 d last year. The directors retiring by rotation are Messrs. J. Campbell find J. J. Whimp, who arc eligible for re-election. ALBERTLAND ADVANCE . MAY SUPPLY AT BJd PER LB. * [FROM Otfß OWN CORRESPONDENT] '*'■ - 1 . WELLSFORD, Friday The Albprtlantl Co-operative Dairy Company, Limited, made an advance payment yesterday for cream supplied during May at the rate of BJd per lb, of butter-fat for superfine quality, with the usual deductions for other grades. AUSTRALIAN EXCHANGES YESTERDAY'S BUSINESS i (Received Juno 21, 7.35 p.m.) SYDNEY, June 21 On tho Sydney Stock Exchange today there was a heavy turnover and leading industrial and trading shares were firmer. ~ ,

This morning's sales included: —Commonwealth bonds. —3£ per cent, 1949, £99 10s; 4 per cent, 1938, £IOO 15s; 1947, £106; 1950, £lO6 17s 6d; 1957, £lO5 15s; 1961, £lO6 15s. .Commercial Bank of Sydney, £l7 15s; Tooth's Brewery, 54s 3d; Associated News, 23s 9d"; ditto, preference, 24s 3d; Broken Hill Proprietary, 595; DunlopPerdriau, 16s 9d; Howard Smith, 14s 6d; Morris Hedstrnm, 21s 10JdLater sales included: —Queensland National Bank, 98s; Colonial Sugar v £44 17s Gd; Associated News," 23s lOid; ditto, preference, 24 s 3d; Howard Smith, 14s 6d; Australian Gas, A shares, £8 2s 6d; Berlei, preference, 30s; Tooth's Brewery,* 55s 6d; Hume Pipe, 13s 9d; Australian Glass, 70s; Dunlop Perdriau, 10s 6d; Goldsbrough Mort, 29s 9d; Morris Hcdstrom, 21s lOJd; Henry Jones, 37s 6d; Farmers', 265; General Industries, 18s 9d; Mount Morgan, 36s Gd; Broken Hill Proprietary, 595; South Broken Hill, 85s; Norths, £6 8s; Placer Development, £29 4s. Melbourne sales included: —Goldsbrough Mort, 28s Gd; E., S. and A. Bank, £5 2s. PRICES OF METALS COPPER RATHER EASIER LONDON, June 20 Following are to-day's quotations on the London metal. market, compared with those of, June 19:— ./ June 20 June 39 '< Per ton Per ton i n (1 £ s d Copper, stan., spot . . 20 16 10i 30 3 li Copper, stall., 3 mos... 30 4 4J 30 10 7i Copper, oloct., wire bars 83 0 0 33 10 0 to to • 33 10 0 34 0 0 Lend, soft, spot .. 13 13 9 13 11 8 Load, scft, forward .. 13 13 9 13 11 3 Spelter, spot .. . . 13 5 0 13 3 9 Spelter, forward . . 13 7 6 13 6 3 Tin, stan., spot . . 229 17 G 229 1- 6 Tin, stall., 3 mos. .. 217 17 6 -17 7 G BRITISH WHEAT AREA ' INCREASE REPORTED LONDON. June 20 The Standard Price Committee has reported to the Minister of Agriculture, Mr. Walter Elliot, that the wheat area in Britain now totals 1,866,000 acres, compared with 1,250,000 in 1931. Thus tho pre-war average has been restored. The committee is unjuiii£ous that it is not desirable to alter the figure of 45s as tho standard price.

AMERICAN MARKETS QUOTATIONS FOR FUTURES CHICAGO. June 20 Wheat.—July, 80J a bushel; September, 81 cents; December, 83f cents. The New York price for cash is 1 dollar li cents. MELBOURNE PRODUCE ' r MELBOURNE, Juno 21 Following are to-day's quotations on tho Melbourne produce market:— Wheat, 3s 2id to 3s 2Jd/ Flour, £ll 2s 6d. Bran, £4 15s. Pollard, £5. Oats, 2s 4d to 2s 6d. Barley, 2s 7d to 3s. Maize, 4s lid to ss. Potatoes, £8 15s to £9 ss. Onions, £8 5s to £8 15s. NEW COMPANY t Registration of the following private company in Wellington is announced in the Mercantile Gazette:— Amos Softgoods, Limited, clothiers, Wellington. Capital, £2OOO in 2000 shares of £1 each. Subscribers: Wellington.—G. S. Amos 1990, E. A. R. Jones 10.