BIGGER CREAM CHEQUES

Poverty Bay Herald, Volume LV, Issue 17235, 15 April 1930, Page 7

BIGGER CREAM CHEQUES

£1247 ]SORE IN P.B. k OFFSET TO LOW VALUES A little more than a week ago Mr. «J. H. Sunderland, secretary of the Kia Ora Co-operative Dairy Co., Ltd.,' announced that the cheques to be paid this month to suppliers for March butterfat would be larger than for the corresponding period last year, when the advances were on a substantially higher basis. No details were available then as to the extent of the increase in the total payments, but it was indicated that the advances woul.r need to be substantially less than Is per lb. of butterfat to bring the total to below the amount paid out last April. This month’s cheques are to be paid out earlier than usual as the 20th of the month falls on Easter Sunday, and an endeavor is being made to have the cheques posted to-morrow. The advance for last month’s butterfat is to be on the basis of Is per lb., the lowest rate since the control board crisis, but the total payments will reach £11.935 10s. The cheques paid out last April were at the rate of Is 3d per lb. and totalled £10,688 4s sd, the balance in favor of this month being £1247 5s 7d. The 37 per cent, increase in the supplies of last month compared with those of March last year was responsible for the distribution of this large amount to more than offset the low values ruling for butter. The market shows little sign of improvement, but it is thought, judging by present indications, that a similar position will prevail in respect of this month’s supplies. The production is keeping up remarkably well, Mr Sunderland indicated, and the export manufacture for the first *lO days of the month was 33 per cent, more than that for the corresponding period last year. The production now was even better than in the autumn of 1928, which was the best on record up to that time. If this state of affairs kept on, there would be little likelihood of the total advance payments for the remaining months of the season failing below those for ths corresponding months last year.