BUTTER MARKET STEADY

New Zealand Herald, Volume LXXII, Issue 22161, 15 July 1935, Page 5

BUTTER MARKET STEADY

NEW ZEALAND 88/- TO 90/-

AN INCREASE IN STOCKS

CHEESE POSITION QUIET

The London market for New Zenland butter is steady nt 88s to 90s per rut. Cheese is quiet at 43s Cd to 45s per ewt. Over the past two weeks stocks of all butters in England have risen by about 155,500 boxes, according to the report of the Imperial Economic Committee.

Merchants have received the following cablegrams, dated July 12, from their London principals: New Zealand Producers' Co-operative .Marketing Association, Limited. —Butter: New Zealand, 89s to 90s; Danish, 100s. The market is steady. Cheese: White, 44s to 44s 6d; coloured, 43s Gd to 445. The market is quiet. Allen and Findlay, Limited, from Armour and Company, Limited. —Butter: The market is steady. New Zealand, salted, 88s to 89s; unsalted, 88s to 925; Australian, 86s 6d; Danish, 995. Cheese: The market is quiet. New Zealand, white, 44s to 455; coloured, 43s to 445; Canadian, 61s. A. H. Turnbull and Company, Limited, from W. Weddel and Company, Limited. —Butter: Danish, 100s; New Zealand, salted, 89s 6d; Australian, 87s. The market is quiet. New Zealand cheese: White, 44s 6d; coloured, 445. The market is slow. DAIRY BOARD'S REPORT The New Zealand Dairy Board has received the following market report from its London office, dated July 12 (the previous week's figures being given in parentheses):— Butter. —New Zealand, salted (approximately 10.42 d, f.0.b.), 89s to 90s (88s to 89s); unsalted, 90s to 92s (88s to 90s). Deliveries: New Zealand, 1460 tons (last year, 1777 tons); in store, 6940 tons (last year, 13,160 tons). Australian, salted, 86s to 87s (85s to 86s); unsalted, 87s (86s to 87s). Deliveries: Australian, 1054 tons (last year, 2018 tons); in store, 8754 tons (last year, 9231 tons). The colonial market is steady. New Zealand retail price unchanged, lid. Irish creamery, salted, 88s (87s); unsalted, 88s (88s); Danish, 99s to 100s spot, 78s f.o.b. (same); Dutch, unsalted, 80s to 86s (80s to 86s); Estonian. salted, 82s to 83s (82s); Siberian, salted, 82s to 84s (82s to 83s); Ukrainian, salted, 81s to 83s (82s); Polish, salted, 72s to 76s (74s to 765); Lithuanian, salted, /9s to 82s (80s to 82s). The market is quiet. Danish retail price unchanged, Is. The Imperial Economic Committee estimates stocks of all butters in store at 1.233,459 boxes (last year, 1,766,170). , , „ • The board has received the following advice from its agents in Canada: — Butter, New York, 23| cents; Montreal, 201 cents. Canadian stocks: 9975 tons (last vear, 11,063 tons). Cheese. —New Zealand, white, approximately 4.7 d, f.0.b., 44s to 45s (45s to 45s Gd); coloured, approximately 4.66 d, f.0.b., 44s to 44s 6d (44s 6d to 455). Deliveries: New Zealand, 19,409 crates (last year, 22,566 crates) 1 ; m store, 162,047 crates (last year, 157,020 crates). Australian, white and coloured, 41s to 43s ( —); Canadian, white and coloured, 62s to 61s (62s to 645); new season's, 52s to 53s ( ); (525). Deliveries: Canadian, 28,5 boxes (last vear, 3180 boxes); in store, 48,182' boxes (last year, 59,120 boxes). English factory cheese, 32s to 38s (32s to 38s). The market is quiet. New Zealand retail price unchanged, 6rl. Cheese gradings for the week ended July G were: —548 crates white and iterates coloured. / minimum p.o.b. rates

BOARD'S EXPORT SCHEDULE

The minimum f.o.b. rates fixed by the Dairv Produce Board are unchanged at 10id "per lb. for butter, and 5d for cheese. These rates are equal to 80s 4d and 44s per cwt, c.i.f.e. NEWTON KING, LIMITED better trading result PROFIT OF £10,077 SHOWN A net profit of £10,077 is shown in the accounts of Newton King, Limited, auctioneers, merchants and land and commission agents, New Plymouth, for the vear ended April 30. Ihis compares with a profit of £7362 in the previous yenr and losses of £7712 in 1033 and £47,735 in 1932. The accumulated deficit is reduced to £26,761. An allowance of £7210 has been made for depreciation and maintenance charges. The principal figures in tho balancesheet are as follows:—Liabilities: Paid capital, £204,529; mortgages, £13,340; i Bank of New Zealand, £157,076; other i creditors, £96,800. Assets: Property land plant, £73,700; stocks, £52,306; : sundry debtors, £319,000.

0 AMARU WOOLLEN CO.

SHARE TRANSFER APPROVED The directors of the Oamaru Woollen Factory Company, Limited, report that shareholders holding over 98 per cent of the company's shares have agreed to accept the offer made by the intended purchasers, and they have entered into an agreement to sell the shares held by consenting shareholders. The directors have consented to }.he sale of their own shares. Completion of the agreement will be made on or before January 31, 1936, and about 13s 6d a share will be paid to each shareholder. The agreement is made between H. J. Mills, chairman of directors, and W. E. Winks and T. A. Daley, as trustees for the transferees who bargain to sell, assign, and transfer to Win ley and Company, Limited, of Palmernton North. : SYNTHETIC RUBBER PROGRESS IN GERMANY Remarkable progress in tho manufacture of synthetic rubber is claimed by German chemists, and experiments made with motor-car tyres .are stated to have been satisfactory. • The question of wholesale production is largely influenced by considerations of cost. As long as it was necessary to employ carbide of calcium as tbe base of the new product, the price for the first materials was sometimes as much as 50 per cent higher than that of the natural rubber. On the other hand, it is quite possible that a substitute will be obtained,as a by-product in the hvdrogenation of coal at a price which will make the manufacture of synthetic rubber a practical proposition. CUSTOMS EXCHANGE RATE* 2 Rates of exchange ruling at the announced dates of departure of vessels named are shown in the following table. They are subject to confirmation by the Customs Department when the exact time of departure is learned on arrival of the vessels in New Zealand. Finally declared rates are marked": Canadian Victor, Canada, dollars 4.05% Fonholm. America, dollars . . . . 4.93 s /,, Canadian Highlander. Canada, dol. Hauraki. America, dollar* .. .. 4.93 A»