BRITISH TEA DUTY

Sun (Auckland), Volume III, Issue 641, 18 April 1929, Page 10

BRITISH TEA DUTY

INDIAN VIEW OF ABOLITION British Official 'Wireless DELHI, Wednesday. Leading tea dealers in Calcutta are unanimously of the opinion that the abolition of the tea duty in Britain will appreciably increase the consumption of tea there. Furthermore,, the preference was so small that its abolition will not hurt the Indian industry. Dealers and brokers here scout the possibility of Java seriously competing with India, except possibly in common medium teas. The manager of a leading blending house says he considers the abolition of preference will help India and increase exports to markets such as New Zealand, Australia and America. COLOMBO SALES At the Colombo tea sales to-day a total of 3.500.0001 b, was-offered. The quality again was inferior, and this was reflected in the prices to the extent of two to four cents. Common and low medium sorts were in good demand at lower rates. Other grades were a little quiet. Next week’s catalogue, will comprise 3.000.0001 b. of Indian tea. The first auction of the 1929-30 season will be held at Calcutta on June 4.

THE DAIRYING INDUSTRY

PAYMENTS TO SUPPLIERS The Cambridge Dairy Company will advance £17.000 to suppliers for tne March output, compared with £10.200 foi the corresponding period of last season. The payments are on the baSis of Is ocl a lb. for butter-fat for cheese, and Is 4cl a lb for butter. The company's supplyshows an increase of 5 per cent, over last season. To date this season the company has paid out £218,000. as against £183,150 last year, an increase of £34.850. The Bruntwood Co-operative Dairy Co. will pay out £2,177. as against £2,374 in March. 1928. The basis of the payment is Is 4d a lb., compared with Is od last season. The returns of the Northern YVairoa Co-operative Dairy Company, Ltd., are as follow Butter-fat supplied. March. 1929. 347.002.541 b.: March. 1928. 322,290.81 lb • increase, 24,709.031 b.; season, 1929, 8.655,786.941 b: season 1928. 3,249,194.851 b; inci ease 40G.592.091b.; pay-out, March, 1929.' at Is 5d a lb. £23.198; March, 1928, at Is 3d, £20,171; increase, £3,20(. Season 1929, £247.370; season 1925. £204,.>74. Following are the returns of the I-linu-era Co-operative Dairy Company. Ltd., for March, the figures for March. being in parentheses: Number of suppliers. 90 (79);. butter made. 120.1H1b (90,6171 b): payment. Is 5d 'a lb butterfat (Is 3d a lb): pay-out, £<,019 10s od (£4,714 16s 3d). The Maungaturoto Dairy Company will distribute £3,892 2s 4d for last month s output, giving Is 4d for superfine. Is Sid for first grade and Is 2Ad for second. In March of last year, when the Prices ,b - th K y 2&..381 last year to this date. The output of the IJikurangi Dairv Company’s factory last month was IfC tons 13cwt. lqr. 171 b.. approximately the same as that for March. 1928. The total output for the present season to date is 1,070 tons 2qr., 211 b.. compared with 9SI tons Itcwt lqr. 241 b. for the corresponding period last season, of 1.1 tons lOcwt. 151 b. for the complete season The distribution for last month s output at Is 5?,d for super will pc £1.».-4)i i*»s 2d, against £11.788 14s id fov March when the price was Is -and. . Th_ e total payout for the present season is 12s Cd, against £115,360 las 3d. TASMANIAN POTATOES SEVERE DAMAGE BY FLOOD (United P.A.—By Telegraph — Copyright) SYDNEY, Wednesday. The Tasmanian potato crops suffered severely in the recent floods. Even some which "it was thought had escaped developed wet rot and 1,000 bags so affected were found among shipments which have reached Sydney in the past week. They had to be destroyed. Their market value was £lB a ton.

N.Z. INVESTMENT AND DEPOSIT COMPANY

A net. profit for the year ended March 31 of £3,544, compared with £3,404 for the previous year is shown in the annual report of the New eZaland Investment Mortgage and Deposit Company, Ltd. With the balance of £1.628 9s 3d from the previous account, the amount available is £5.172 Is srl. The n-- - d . |T the usual rate of 7 per cent, absorbs £2.449 Is 2d. and £7OO is added to the reserve, making it £7,000. The balance remaining to be carried forward is £2.023 0s 3d.