DAIRY PRODUCTION

New Zealand Herald, Volume LXXV, Issue 23050, 30 May 1938, Page 5

DAIRY PRODUCTION

SOUTH ISLAND DECLINE FALL OF 6* PER CENT EFFECT OF DRY SEASON The quantity of dairy produce graded in tho South Island in the nine months ended April 30 showed a decline of 6J per cent below the output of the corresponding period of the previous season, according to details given in tho South Island Dairy Association's annual report. The total gradings at South Island ports in the period , just ended were 198,670 boxes of butter and 190,125 crates of cheese, compared with 238,879 boxes of butter and 214,783 crates of cheese in the 1936-37 period. The decrease of 40,209 boxes of butter and 24,658 crates of cheese represents a decrease of nearly 14 per cont in but-ter-l'at production. The adverse weather experienced in Southland and Otago was largely responsible for tho serious decline. The season in Southland was probably the driest oil record. From November to March there was practically no raini'all, and tho pastures were very badly affected ns tho result of the drought. Similar* conditions existed in Otago.

WALDAS SHOES, LIMITED PREFERENCE DIVIDEND INTERIM PAYMENT PASSED The directors of "VValdas Shoes, Limited, have informed the Stock Exchange of Melbourne that they have decided not to pay an interim dividend on preference shares in view of the difficult trading conditions which still face the company. For 1935-36 15 per cent was paid 011 ordinary shares in addition to the preference dividend of 8 per cent. In 1930-37 the preference dividend was maintained, but no ordinary dividend was paid. At the annual meeting in October a committee was formed to confer with the board and tho directors on the affairs of tho company. This committee recently announced that it was of opinion that tho balanco-sheet at Juno 30 last disclosed a truo statement of tho company's position. ' GISBORNE GAS YEAR SMALL RISE IN PROFIT DIVIDEND 4D A SHARE [BY TELEGRAPH —OWN COIUIEBPONDKNT] GISBOBNE, Saturday Tho net profit of the Gisborne Gas Company, Limited, for tho year ended March 31 was £lOsl, compared with £IOO7 and £lll9 in 1936-37 and 1935-36, respectively. A dividend of 4d a share, equal to 1 2-3 per cent, compared with I 3d a share (li per cent) in each of the thrco preceding years, is recommended by the directors. The profit and loss account shows that tho revonuo from sales amounted to £31,605, compared with £28,373 in tho previous year and £26,178 in 1935-36. Expenses, however, increased almost in proportion, last year's total being £30,757, as against £27,567 in the previous year and £25,247 in 1935-36. In two years tho cost of materials advanced from £7187 to £9889 and wages from £2378 to £3142. In last' year's accounts £3963 is allowed for depreciation, compared with £3550 in tho previous year. Expenditure on repairs and renewals reveals little variation. Interest shows a further reduction at £IB7O, compared with £2060 and £2485 in tho two preceding years and thero is also a reduction in rates and taxes. BRITISH WAR LOAN British Wireless RUGBY, May '27 War loan, 3i per cent, is quoted at £lOl 7s Od, compared with £lOl 5s yesterday.