BUTTER IN LONDON

New Zealand Herald, Volume LXXIII, Issue 22518, 8 September 1936, Page 5

BUTTER IN LONDON

FALL IN PAST FORTNIGHT ABSENCE OF DEMAND CHEESE MARKET FIRM Prices for butter in London haro fallen by 7s per cwt. to 114s to 115s per cwt., during the past two weeks. At this time last year New Zealand butter topped 100s per cwt. for tho first time in two years. The advance was continued, and a peak of 127s was reached in tho middle of October. This year 100s per cwt. was reached earlier —about the end of May—and values lnive been over 110s since early in July. The outlook until Christmas will depend largely on the supply position and on tho extent of buying outside Lho United Kingdom. A Press Association message sent from London on Sunday states that butter opened a gloomy week with un entire absence of demand, accompanied by a sharp break in values. Holders are becoming nervous, as, in spito of the sound statistical position, they are anxious to keep selling. Tooley Street merchants do not expect any turn in tho market for at least a few weeks. Cheese, in contrast to butter, continues firm, though quiet, tho undertone being sufficiently strong to warrant a maintenance of the present values.

1034 1035 11)30 Tons Tons Tons May 1 5 .. 28,513 20,051 13,302 Juno 12 .. 30.021 24,828 17,852 July JO .. J 1,151 30,83(5 22,137 Autf- 7 .. <17,132 20,000 27,550 Se])t. 4 . . 41,GD1 20,023 24,804

Actually the stock position is better than at this timo in any of the past three years at least. Becent movements in stocks of all butters compare as follows: —

The recent increase in retail butter prices may have contributed to the break in wholesale rates by curtailing the demand. Now Zealand butter is now selling at Is 4d per lb. retail, a rise of 4d in the past three months. MINING NEWS YIELDS OF COMPANIES Gillespie's Beach (South Wcstland). —Last week, 120oz. 17dwt. for 128 hours. Okarito (South Westland).—Last week, 420z. lOchvt. for 127 hours. Waipapa Beach (Southland).—Last week, 24 oz. 6dwt. for 131 hours. Worksop Extended (West Coast). — Tho dredge has been digging in a side gully running into the main trolley, but has now turned around and is returning to the original cut in the main valley. The ground being poor no wash-up will take place this week.

Mataki (Murchison). —Last week 31oz. for 135 hours and 8300 yds.

REPORTS OF MANAGERS Big River (Reefton). —Week ended August 31: No. 4 level: Stoping operations on stone have been in progross in north slopes with two shifts, and in centre stopes with one shift. Also stoping stone in south stopes is in progress. Stone sent to surface for week, 33 tons. No. 5 level: Driving is being carried on with two shifts in this crosscut. The old steel for the rock drilling mnchines gave some trouble at the start by breaking off at the shanks, but retempering seems to have overcome this trouble, and with the new steel that has arrived the drill is giving better service. Distance driven for the week, lift Bin. The batterv has been running one shift daily. Stone for last two shifts shows improvement in value.

STOCK SALES SHORTHORN DAIRY HERD [BY TELKCKArH —OWN CORRESPONDENT] WHANGAREI, Monday 'Tho North Auckland Farmers' Co-operative, Limited, report holding a very successful clearing salo on Thursday of the pedigree Shorthorn dairy herd of Mr. .T. J. Whimp, of Svhakapara. Thore was a fair attendance, bidding being brisk . throughout. Values: — Best springing Shorthorn cows, Bgns to 12gns; backward and inferior cows, ogns to T'/jgns; three-year-old springing Shorthorn heifers, fjgns to B%gns; three-year-old Shorthorn bulls, 15gns to 22gns; 2 5 / si-year-old Shorthorn bulls, SMigns to 12gns. MAROMAKU DISPERSAL [from oun OWN correspondent] WHANGAREI. Monday Tlio North Auckland Farmers' Co-opera-tive, Limited, reports holding a clearing sale on Friday of the pedigree and grade Shorthorn dairy herd of Mr. P. S. C. Going, of Maromaku. There was a fair attendance of buyers and bidding was fairly steady throughout. The top price was lOgns paid for a cow. Other good springing cows made from £8 to £10; medium quality cows, £0 15s to £7 37s Od; a few aged cows made from £."> 10s to £0 10s; best dairy heifers, £(> 10s to £7 ss; others, £o 5s to £0 ss; young bulls, 10 to logns. PARUA BAY CLEARANCE [VROM OUU OWN CORRESPONDENT] WHANGAREI, Monday Tho New Zealand Loan and Mercantile Agency Company. Limited, reports holding a successful clearing sale of Mrs. W. Newbery's mixed dairy herd at Parua Hay on Saturday. There was a large attendance of buyers, and although, owing to tho recent bad weather, the stock came forward in poor condition, everything sold well. Best cows in inilk made £4 5s to £<> ss; older cows, to £4 10s; springing cows, £1 12s Od to £G ss; more backward sorts, £3 l()s to £4 10s; springing heifors, Jersey cross, £4 to £1 15s; later calvers, £3 to £3 15s; yearling steers, £4 2s (id to £4 ss; mixed yearlings, low condition, £1 10s to £"2; potter bulls, £1 to £2. HORSES AT PUKEKOHE [from OUR. OWN correspondent] rUKEKOHE, Monday There was a small entry at the New Zealand Loan and Mercantile Agency Company's spring horse fair, held to-day at Pukekohe. A largo number of buyers attended and competition was brisk. Values were well up to those ruling at recent sales. A draught foal sold at £2O; medium farm horses, £22 to £32; lighter sorts, £ls to £2l; and hacks and harness horses, £5 to £lO. FEWER RABBITS TE AKAU NORTH AREA [from our own correspondent] TUAKAU, Monday "There are fewer rabbits now in the board's area than at any other period during tlio past 20 years," said Mr. H. W. Wilson at tho monthly meeting of the To Akau North Rabbit Board to-day. In his roport to the board, tho chief inspector, Mr. G. F. Soilness, stated that with few exceptions farmers throughout the area had carried out extensive poisoning and fumigating ojjerations, and a very noticeable decrease in the pest had resulted. Government subsidies totalling £1239 were received by the board. It was announced that the 10 per cent cut in subsidies had been restored. NEW PRIVATE COMPANIES The following private companies have been registered in Auckland:— Auckland Fairs, Limited, entertainment proprietors. Capital, £IOOO in CI shares. Subscribers: N. S. Cassrells, 250 shares; W. W. Wright, C. G. Mncindoe, G. A. MoKcndrick, L. E. Cassrells, 100 each; S. G. Peek. J. Firullnv, A. P Postlewaite, R. D'Estrc. H. E. Watts. T. R. Finlay, Catherine Ilcilly, 50 each. Rotorua Timber Company, Limited, sawmillers. Capital, £3OOO in £1 shares. Subscribers: D. Duff, G. T. Lodge, 1300 shares each; G. H. Duane, 400.