BRITISH BUTTER

New Zealand Herald, Volume LXXII, Issue 22260, 7 November 1935, Page 9

BRITISH BUTTER

INCREASING- POPULARITY j LARGE FACTORY PLANNED SEPARATION AT CREAMERY [from our. own correspondent] LONDON, Oct. 12 With the greater co-operation which is ensured by the Milk Marketing Board, English butter is likely to become more and more a serious rival to New Zealand and Danish produce. A writer in the Grocers' Gazette says that the board has decided to take immediate action on a large scale with its plans for manufacturing Cornish butter. Several sites have been inspected, and two or three are considered excellent. The proposition is to build a new factory capable of handling at the outset at least 10,000 gallons of milk daily, and the creamery will be capable of considerable expansion. It is reported that the board has decided to adopt the Danish system of collecting the milk and of returning the skimmed milk to the farmer. With a view to reducing the milk transport costs by about 50 per cent, however, the Milk Board intends to establish a number of separating stations midway between the farms and the factory in Cornwall. It is understood that about four such stations will be opened on different sides of the factory, and the stations will forward the cream, and return the skimmed milk to the farms.

"For some considerable time," says the writer of the article, "the Minister of Agricultxire has been convinced that Cornwall is producing some of the finest butter in the country, and the Milk Marketing Board is anxious to enhance that reputation. It is plain, therefore, that Cornish butter in the future is going to play a bigger part in the food of the people of this country than at any previous period of the country's existence." A year or two ago, it was almost impossible for a town dweller to obtain real English butter. There were numerous blends of foreign and colonial butter in wrappers which led the ignorant to believe they were buying fresh English butter, but the real thing was hard to obtain. Now one business firm is manufacturing a very good English buttor, which is being sold at Is 6d per lb. compared with Is 3d and Is 4d for New Zealand. It keeps well for at least a week, and has a very good flavour. Apparently, the produce is fairly popular, and the demand for it is growing.

WEAK BUTTER MARKET QUIET TONE REPORTED CHEESE VALUES EASIER Very quiet conditions aro reported on the London dairy produce market, there being a slow demand for both butter and cheese. Values of New Zealand finest butter have again doclined, with quotations of from 100s to 103s per cwt., the top price being equal to approximately 127s in New Zealand currency. Cheese prices show a drop of Is since the week-end, now being quoted at from 51s to 52s for both white and coloured.

Merchants have received the following cablegrams, dated November o, from their London principals:— Joseph Nathan and Company, Limited, from Trengrouse and Nathan, Limited.—New Zealand butter, finest, 102s; first, 100s. Cheese,. 525. Both markets are very quiet. A. H. Turnbull and Company, Limited, from W. .Weddel and Company, Limited.—Butter, Danish, 1235;. New Zealand, salted, 103s; Australian, 102s. New Zealand cheese, white and coloured, 525. Both markets aro weak owing to a slow demand. New Zealand Producers' Co-opera-tive Marketing Association, Limited.— The butter market is dull with very little doing. Cheese is quiet. Butter: New Zealand, 100s to 102s; Danish, 1225. Cheese: White and coloured, 51s.

INCREASED DIVIDEND WILSONS CEMENT INTERIM An increased interim dividend of 9d a share has been declared by the directors of Wilsons (N.Z.) Portland Cement, Limited. Payment will be made on November 28. In the year ended March 31, the company paid interim and final dividends of 6i per cent, and a bonus of li per cent, making a total of 13} per cent for the year. In the previous year 10 per cent was paid. The forthcoming distribution represents 7J per cent, or a rate of 15 per cent per annum. The capital of the company is £300,000 in shares of 10s each, fully paid. PERPETUAL TRUSTEES INTERIM DIVIDEND OF 1/[BT TELEGRAPH —PRESS ASSOCIATION] DUNEDIN, Wednesday An unchanged interim dividend of Is a share for the six months ended September 30 has been declared by the directors of the Perpetual Trustees, Estate and Agency Company of New Zealand, Limited. The dividend is payable on November 25.

Last year interim and final dividends of Is a share were paid by the company, equal to 11 1-9 per cent. A similar distribution was made in 1932 and 1933, while in 1934 the payment of a jubilee bonus increased the rate to 16 2-3 per cent. MORRIS, HEDSTROM, LTD. HIGHER INTERIM PAYMENT An interim dividend of 2J per cent on ordinary shares has been declared by Morris, Hedstrom, Limited, plantation owners and general merchants, Fiji. Payment will be made on December 31. During the year ended March 31 the company paid an interim dividend'of 2 per cent and a final dividend of 3 per cent, making 5 per cent for the year.! This compared with 4 per cent for the previous three years and 6 per cent in 1931. HARBOUR BOARD LOAN ANNUITY OF £6/16/10 PER CENT Debentures totalling £94,500 are being issued by the Auckland Harbour Board to meet a 4 per cent loan which is maturing. The debentures bear interest at the rate of 3J per cent and are issued for a term of 20 years, principal and interest being repaid in the form of an annuity at tho rate of £6 16s lOd a year for each £IOO. Payments will be made in half-yearly instalments. There has already been a good inquiry for parcels, ranging from £IOO to £SOOO.