BUTTER MARKET QUIET

New Zealand Herald, Volume LXXIII, Issue 22405, 29 April 1936, Page 9

BUTTER MARKET QUIET

NEW ZEALAND AT 88/CHEESE PRICE UNALTERED DAIRY BOARD'S REPORT The London price for New Zealand butter is slightly lower at 88s per cwt., according to ft cablegram, dated April 27, received by Joseph Nathan and, Company, Limited, from Trqngrouse and Nathan, Limited. Cheese values are practically unchanged at 54s 6d per cwt. for white and 51s for coloured. Both markets are quiet. The New Zealand Dairy Board lias received the following market report from its London office, dated April 24 (figures for the previous week being given in parentheses): — Butter. —New Zealand, salted, 87s to 80s (equals approximately 10.23 d f.0.b.) (86s to 87s); New Zealand, unsalted, 87s to 88s (87s to 88s). Deliveries: New Zealand, 2049 tons (last year, 1317 tons); in store, 3880 tons (last year, 3800 tons). Australian, salted, S7s to BSs (80s to 87s); unsalted, 87s to 88s (87s to 88s). Deliveries: Australian, 2241 tons (last year, 253G tons); in store, 1520 tons (last year, 6700 tons). New Zealand retail price unchanged, lid. The market is steady. South Africa, 82s to 86s ( —). The market is firm. Danish, 82s f.0.b., 103s spot (80s and 102s to 103s). The market is steady. Dutch, unsalted, 85s to 88s (83s to 88s). The market is firm. Polish, salted, 83s to 81s (85s to 86s); unsalted, 82s (85s). The market is steady. Danish retail price unchanged, is Id. Cheese.—New Zealand, white, 54s to 54s 6d, ex. 55s (equals approximately 5.93 d f.0.b.) (52s 6d to 535); New Zealand, coloured, 53s 6d to 545, ex. 54s 6d (equals approximately 5.87 d f.0.b.) G2s 6d to 535). Deliveries: New Zealand, 19,622 crates (last year, 14,371 crates); in store, 99,937 crates (last year, 155,306 crates). Australian, white, 51s to 52s 6d (51s to 51s 6d); coloured, 50s to 52s ( —); Canadian, white, 62s (60s to 625); coloured, 64s (63s to 645). Deliveries: Canadian, 4439 boxes (last year, 2399 boxes); in store, 73,176 boxes (last year, 71,106 boxes). The market is firm. New Zealand retail price unchanged, 6d and 7d. English, finest farmer's, 80s to 86s (80s to 86s); factory, 49s to 53s (48s to 535). The market is steady.

MINIMUM F. 0.8. SCHEDULE BOARD'S RATES UNCHANGED The New Zealand Dairy Board has fixed minimum prices for f.o.b. and c.i.f. wales on the basis of butter, lid per lb., and cheese, 52d, both rates being unchanged. These rates are subject to agents' selling commission of 1£ per cent, and are equivalent to butter, 89s Id per cwt., c.i.f.e., and cheese, 49s 7d per cwt., c.i.f.e. AUSTRALIAN BUTTER TEST ARRANGED IN LONDON SPREADING QUALITIES TRIED LONDON, April 27 Commonwealth dairy interests have arranged a test at Australia House to decide whether Australian butter is hard to spread. The Federal Minister of Commerce Dr. Earle Page, spread eight unlabelled butters. Checking disclosed that Victoria, New South Wales, Queensland, New Zealand, Danish, Dutch and Lithuanian butters could be spread equally well and that Latvian was inferior. Officials hope the tests will dispel tlie illusion that the spreading qualities of Australian butter are poor owing to votages in cold storage. QUOTATIONS FOR WHEAT LONDON AND LIVERPOOL MARKET IN CHICAGO LONDON, April 27 Wheat. —Cargoes are steady and parcels are quiet and easier. Futures.^ — London: May, 28s 6Jd a quarter; November, 28s 9d. Liverpool, May, 6s lfd a cental; July, 6s 2|d; October, 6s CHICAGO, April 27 Wheat. —May, 98 cents a bushel; July, 87 cents; September, 85f cents. K.D.V. BOXES, LTD. REASSURING SHAREHOLDERS ISSUE OF CIRCULAR With the object of reassuring shareholders as to the position of tho company and deprecating any sacrifice of shares, the directors of K.D.V. Boxes, Limited, have issued a circular. The contributing shares recently sold at 3s 9d, compared with 9s 6d at tho end of last year, although there was a sale at 4s 011 the Auckland Stock Exchange yesterday. Tho report states that although the company received a severe setback by being compelled to abandon the manufacture of veneer butter boxes, it is stiil in a position to supply and is supplying the sawn box which complies with tho Government's requirements. In addition it is still using tho pooling machinery for the manufacture of scaleboards, and strawberry chips. The Kohukohu box factory has been going full time during the whole season manufacturing sawn boxes. "While it may not bo possible or wise to pay a dividend on this year's working," tho report concludes, "your directors aro hopeful that tho next season, if arrangements now being made eventuate, will result in our position becoming much more prosperous. It is not considered probable at this stage that any calls will bo made on the 10s contributing shares." DUNEDIN BREWERY INCREASE IN PROFIT [by TEI/EGRArH —OWN CORRESPONDENT] DUNEDIN, Tuesday The report of the directors of the Dunedin Brewery and Wilson Malt Extract Company, Limited, for tlio year ended February "29, states that, after deducting all charges, beer duty, bad debts, directors' fees, depreciation on various assets, rates, insurance, and making provision f or tho payment of income tax at the present rate, tho profit and loss appropriation account shows a credit balance of £6OOB. _ Tho directors recommend that this be appropriated as follows: —Dividend at the rate of 6 per cent, unchanged, £3250; transfer to general reserve, £1000; transfer to reserve for hotel depreciation, £750; transfer to reserve for depreciation of plant, £945; and to carry forward a balance to next year of £63. With the addition of the above amounts, the total reserves of the company now stand at £12,250. In tho previous year tho net profit amounted to £5416, this year's figure thus showing an increase of £592. Tho sum of £179 was carried forward, transfer to general depreciation £IOOO, hotel depreciation £737, and depreciation of , plant and furniture £SOO.