DUTIES ON BUTTER

New Zealand Herald, Volume LXXII, Issue 22205, 4 September 1935, Page 7

DUTIES ON BUTTER

BRITAIN'S FUTURE POLICY QUOTA IDEA ABANDONED LESSON FROM BACON TRADE A statement that the British Government was now opposed to quotas and restrictions on the importation of dairy products, and favoured import | duties, was made in a report to the Australian Dairy Produce Export Board by Mr. T. Flood Plunkett, chairman of the board, who hasi been investigating conditions abroad. Mr. Plunkett stated that the protracted negotiations on the meat question prevented the discussion of butter and other dairy products, which was deferred until next year, when the treaties between the British Government and foreign countries would expire. In any case, the Dominions were protected under the Ottawa agreement, which provided that if any duty be imposed on Dominion butter, then the duty on foreign produce would be automatically increased by the samo amount. "The British Government is now opposed to quotas and restrictions, and is favourable to the imposition of a duty on imports —the revenue thus obtained to be given to producers :n Great Britain to compensate them for competition from oversea countries," said Mr. Plunkett. "The case of bacftn proved that quotas increased prices to consumers without compensating advantages to producers in*the United Kingdom, and that foreign countries under the quota system obtained more money for the smaller quantity they exported. The Danes state that the restriction on bacon imports saved their farmers from financial embarrassment, and they are now relying more on the pig industry than dairying." Mr. Plunkett said that the imposing of a duty on dairy products raised a very serious problem in the Dominions, and it was pleasing that members of the New Zealand Dairy Board would confer with the Australian board on this and other matters. It was essential that Australia and New Zealand should adopt a common policy.

THE STEEL INDUSTRY LYSAGHT'S PROFITS DOUBLED ALL WORKS KEPT BUSY The changed conditions in the British iron and steel industry are reflected in the latest accounts of John Lysaght, Limited. After again allocating £BO,OOO to depreciation account, the net profit for 1934 was £409,230, an increase of £209,338. The general reserve has been increased to £600,000 by an appropriation of £132,051, while the dividend on ordinary capital has been raised from 8 per cent to 16 per cent. For the two years 1931 and 1932 ordinary dividends were suspended. The company, which is controlled by Guest, Keen and Nettleford, Limited, has itself several important subsidiaries, and, in addition to important English interests, it owns works in Australia, Canada and Argentina. The directors report that, in common with other steel manufacturers, the company benefited from the operations of the Tariff Board, the Scunthorpe steelworks having been busy during the whole of the year. The company's Australian works were fully employed, and those in Canada and Buenos "Aires also showed production in excess of 1933. Signs of increasing business are provided in the balancesheet by the expansion in the sums due to the company by debtors, larger stock-in-trade, and the increased sum owing to creditors. 1

THE CITY MARKETS KEENER DEMAND FOR FRUIT CAULIFLOWERS DEARER A much-improved demand existed for most lines of fruit at the City Markets yesterday. There was a good inquiry for apples, local grapefruit, oranges and island tomatoes, but lemons were still hard to quit, poor varieties being almost unsaleable. Pears were fairly slow of sale. A shipment of Californian onions and Fiji bananas, cucumbers and kumara arrived by tho Aorangi on Monday. The first new potatoes to arrive from Pukekohe this year met with a keen demand, as did Tauranga kumara and cabbages. Cauliflowers were scarce and there was a corresponding increase in values. Local onions sold at up to lis a sugar bag, while Californian varieties fetched up to 21s a gunny sack, about twice the size of a sugar bag. The supply of poultry was medium and the demand for table birds keen. Prices for hens increased slightly. Values were: — FRUIT Apples, Uallarat, 7s to 8s a case; Delicious. 7s to 9s (Id; Sturmer, fis to 93; Grunny Smith, lis to 9s; Dougherty, 6s to Ss; Homo Beauty. 8s lo 9s; pears. Coles and Nelis, three-quarter cases, 8s to 9s; bushels, 9s to 10s; Peter Barry. 7s to 8s; passions, 4s to 10s; plums. Californian, 17s; oranges, South Australian, IGa (3d to '22s; Island, 15s (id to 20s; lemons, cured, 4s_ to ss; others, Is Gd to 3s; grapefruit. New Zealand, largo, 5s to Gs; small, 4s to 4s (id; tomatoes, Island, repacks, 6s (id to 7s a case; hothouse, Sd to lOd per lb; bananas, 14s to 21s a case; tree tomatoes, black, 7 s to 7s Gd; red, 3s to Gs; pineapples, Queensland, 14s to 16s Gd; coconuts, 14s a SaCk ' FIELD PRODUCE Potatoes, new, 2d to 3{d per lb.; No. Q, Id to lid per lb., southern, white, 9s fid to 10s per cwt.; red, 10s 6d per cwt.; swedes, local, 2s Gd to 3s a bag; Ohakufte, 39 fid to 4s a bag; onions, local, lis to 12s a bag; Californian, 20s to 21s a bag; kumara. Inland, 10s to lis per cwt.; local, 3s Gd to 4s a bag; cabbages, large Backs, 10a to 12s a sack; small bugs, 3s fid to Gs (id a bag; on benches, 2s to 3s fid a dozen; cauliflowers, 4s to 7s Gd a sack, on benches. 2s to 3s a dozen; pumpkins, fis to 7s Gd per cwt.; cucumbers, 4s to Gs a dozen; carrots, Gd to 9d a dozen; parsnips. Is Gd a dozen; beet, good, young, is to 1b 3d a dozen: turnips, young, Is a dozen; radißh. Gd to ,0(1 a dozen; spring onions, 3d to Gd a bundle; spinach, la to Is fid a dozen; leeks, 2s to 3s a dozen: French be:ins, Is fid to Is 9d a bag; lettuce, 2s to 5s a case; celery, cooking Gd to Is a bundle 1 , dessert, la fid to 2s fid a bundle; rhubarb, 2s to 3s fid a dozen; asparagus, Is fid to 2s a bundle. POULTRY Cockerels, heavy breeds, prime 4b to Gs fid each: not prime, 2s Gd up; light breeds, prime, 3s to 4b; not prime, Is Gd up; fat roosters, heavy breeds, prime, 2s Gd to 3s Gd; light breeds, 2s to 2s Gd; fat hens, heavy breeds, 3» fid to 4s Gd; light breeds, 3s to 3s 9d; pullets, heavy breeds, bent, 3s fid to 4s Gd; smaller, Is fid up; light breeds, best, 3s to 4s; smaller, Is Gd up; i drakes, young, prime, 2s fid to 3s fid; I smallor. Is fifl up: old. Is 9d to 2s 9d; ducks. I young. 3s to 3s 9d; old, Is 9d to 2s 9d; tnrI key hens, os "id to 6s fid; gobblers, 8s to 14s; cockerel chicks, heavy breads, 4d to It; light [br»»dft. id to 10(J i fiuiaea fowli, 8a to 8i 6d.