THE DAIRY.

New Zealand Mail, Issue 1191, 28 December 1894, Page 6

THE DAIRY.

DAIRY PRODUCE.

From Our Own Correspondent. London,- November 9

The continued mild weather has prevented any movement in the butter market favourable to Australasian exporters, and though trade during the last few " days has been somewhat brisker than when I last wrote, prices have not yet shown improvement. The little good business done has been mainly confined to choice butters, the slight shortage in •which enabled the Danes to alter their quotation to 118 s last- week. This price, however, can only b 3 obtained for tip-top stuff, and the true market value of finest Danish is between 114 s and ll«s. Finest colonial (new season's) may be quoted at 102 s to 104 s, but exceptional parcels have' been sold at 106 s, and a small line was done yesterday at 108 s. For stuff, which thoughgoocl, which cannot be classed " Finest," the market is not hungry, 90s to 90s being a failrange of price. The new Australian butters are coming to hand in fair quantities and the condition and quality is "good average." Choice butters, for which the market is fairly good, form but a small percentage of the consignments to hand up to the present.

I read with some amusement the other day of an " indignation " meeting of Victorian dairy produce men. Naturally these good people are indignant that the British publis should appreciate their beautiful butter at less than 100 s on the average, and really they have first-cla&s grounds for condemning' the "middleman," anglice, agent. Why, ho actually makes a profit out of-them ! Of course he is to blame for low prices. He controls the weather, and if he held up his hand the British, Irish> Danish, and Swedish farmers would at once reduce their output to proper winter dimensions. He has only to breathe upon a box of tallowy butter .to render it " Finest," and he has only to tell buyers that Victorian is equal to Danish to get the same price for it. He has only to open his warehouse doors and call "Buy ! Buy !" and lo ! all the dealers flock round him and beg the favour of a few boxes at 120 s.

But he will Jo none of these things. Laying in bed all day he grows fat on the profit he reaps from consignments of butter, which he sells to his friends at what price they like; Surely such enterprising people as the butter exporters of Victoria will not long delay the punishment of this creature. Let them pass an Act forbidding the dairy produce business of France, Denmark, &c., fixing the commencement of winter (properhard frost sort) in England for October Ist, and empowering the British Parliament to fine or imprison any person found selling Victorian .butter at less than Is 4d per lb retail, and 120 s per cwt wholesale. With such a simple solution staring them in the face, one wonders why the Victorians trouble Co hold meetings of the kind indicated.:'.

The well-known firm of Coey and Co., Ltd., have just successfully issued 5 per cent, mortgage debentures to the extent of L 75,000, which sum, I understand, is to be used for the development of the Colonial Dairy Produce branch of their business. As a limited Company the firm has been in existence since 1872, and for forty years prior to that 4ate the business was carried on by the late Sfi\. i'dwar\l Coey, J.P S'nce its incorporation with a fully subscribed capital of LI 00,000 the company has regularly paid 6£ per cent, and during the last four years, in addition Uf 7 per cent, dividends, LIO,OOO has been added to the reserve. The aggregate turnover of the company last year wa5'L791,897, resulting in a profit of L 12,802 8s 2d. The rapid increase in business demanded a bigger capital, and the fact that the issue has already been dealt in at Belfast from 1 to 2 premium shows that the solidity of the company' is beyond question. Undoubtedly Messrs Coey have one of the best provincial outlets for colonial dairy produce ; in fact no other firm of agents can lay claim to a better. They have branches in Liverpool, Glasgow, Manchester and Birmingham, besides agencies at almost every provincial centre of any importance, and at Keskuk (Iowa) they have established their principal American centre.

I have heard nothing further re-

garding Mr Valentine's Co-operative Company, and I do not anticipate that he himself will make any very definite move towaids its formation till such time as the New Zealand Government shall relieve him of the onerous duties of expert at Home. This may as well be done quickly, since now that he has declared himself Mr Valentine can do no good for the Colony. The expert at Home, whoever lie may be, must be clear of the suspicion of self interest, otherwise his advice and warnings are in vain.