NO SALES

Wanganui Chronicle, Volume LXXXIII, Issue 19793, 17 March 1927, Page 7

NO SALES

NEW ZEALAND BUTTER Chaotic Market Conditions in London BUYERS’ WAITING POLICY [By Telegraph—Per Press Assn.—Copyright.? LONDON, March 15. The butter market is in a state of chaos. Sellers do not know what to ask or buyers what to offer. It is expected that it will be several days before matters settle down. Meanwhile, trade in all descriptions » practically at a standstill. A few sales were effected of small quantities of New Zealand butter at 150 s and cheese at 80s, but the big buyers arc adopting a waiting policy Until they commence operations the establishment of a basis of prices is impossible. Australian is quoted nominally ai 148 s. The New Zealand Board’s suggestion that weekly sales should amount to 90,000 boxes of butter and 45,000 crates of cheese is generally regarded as impracticable in view of the smallness of recent sales of New Zealand as buyers preferred to take other varieties. A SHARP DECLINE NEW PRICES ANNOUNCED. DOWN TWELVE SHILLINGS UT DAYS. F O’er Press Association.) AUCKLAND, March 16. Butter is being quoted on the Lon don market at 146 s to 148 s, and chees< at 76s to 78s, according to advice bj cablegram received this afternoon by the chairman of the New Zealand DairyProduce Board, Mr W. Grounds, who is at present in Auckland. Mr Grounds said the Board anticipated that there would be a considerable fall in prices before a sales basis was reached. The decline was serious, however, and in the case of butter particularly. The last prices named for butter |by the Board before the change in policy were 158 s and 160 s, hgainst -46 s and 148 s at latest advice, a decline of 12s within about two days. The decline in tho case of cheese was 6s to 3s. ANTI-CONTROL HYSTERIA WELL PLANNED PROPAGANDA NO BASE FOR WILD STATEMENTS (Per Press Association.)' HAMILTON, March 16. Interviewed to-day on the dairy position, Mr Dynes Fulton, chairman of directors of the New Zealand (cooperative Dairy Company said that once again tho vested interests opposed to control had resorted to hysterical denunications of the Board in an endeavour to stampede producers of the country. They undoubtedly had utterly failed as on all previous occasions when such attempts had been made. Unfortunately, they succeeded in scaring the Government, which in this instance held the balance of power on the Control Board. An examination of the position showed how bankrupt of any foundation this latest outburst of the vesttgl interests was. The country had been treated to a spectacle on glaring posters and in newspaper headline*, yet what was the peg on which this sensation hung? Merely the statement of “a prominent marketing authority, r * who remained anonymous, to the effect that the present butter position was a fiasco. The whole of this alleged trouble was laid at the door of the unfoi Lunate Control Board. It must be obvious to all sane producers, said Mr Fulton, that the present condition of affairs, insofar as that condition may be unsatisfactory, was solely due to the inefficiency uf the non-control system under which New Zealand produce was held last 3 ear. Initial Difficultie» 4 ‘lt is,” continued Mr Fulton,” unnecessary for me to traverse in detail the c ssential facts so ably set forth by Mr W. Grounds in the two statemenu he has made, but I recommend everj producer in the Dominion to read everj word of these statements and thoroughly digest .them.” Mr Fulton emphasised that the trol Board had only been in operation, so far as actual control was concerned, since September last, and at the incep tion of its operations found itself faced with a huge accumulation of old season ’s produce, the direct result of noncontrol conditions. It had applied itself to overcoming the handicap, and Mr Fulton left sure it was only the obvious prospect of its success that prompted the present outburst. The vested interests were endeavouring w see that the principle of co-operacrve marketing did not get a chance to G tried out, realising that its succcs would be a severe blow to themselves If, added the speaker, recent happenings had served no other purpose, thej had at last shown the farmer just exactly where he stood.