DAIRY ACCOUNTS

Te Awamutu Courier, Volume 77, Issue 6565, 13 September 1948, Page 5

DAIRY ACCOUNTS

STABILISATION FUNDS CREDIT OF £12,600,000 The estimated balances in the meat industry accounts at July 31, 1948, totalled £25,550,000 according to figures given in a return tabled by ‘the Minister of Marketing, Mr Cullen, in the House of Representatives at the request of Mr Gordon (N., Rangitikei). At that date the investments of these balances totalled £20,000,000, earning interest amounting to £500,000 annually. The balance at the credit of the dairy industry stabilisation account at July 31, 1947, was £8,907,459. The balance at July 31, 1948, was not stated as the accounts have not been completed or audited, but in an address to the Dominion Dairy Conference, the chairman of the Dairy Products Marketing Commission, Mr W. Marshall, stated there was approximately £12,585,000 in its Dairy Industry Account on July 31 of this year. Dairy Industry Figures The return stated that the dairy industry accounts were the responsibility of the New Zealand Dairy Products Marketing Commission, which has furnished the following statement. “The balance at the credit of the Dairy Industry Stabilisation Account as at July 31, 1947 was £8,907,450. With regard to the balance in the account at July 31, 1948, the accounts have not yet been completed or audited but in accordance with the Dairy Products Marketing Commission Act, 1947 (1), the Com- ’ mission will furnish a report to the Minister of Marketing as soon as practicable after July 31 and which section 32 (2) requires him to lay before Parliament within 28 days thereafter.”

There are no pool stabilisation accounts for wool.