DAIRY PRODUCE.

Press, Volume LXIII, Issue 19146, 1 November 1927, Page 10

DAIRY PRODUCE.

A BRIGHT OUTLOOK. RECORD SEASON PREDICTED. [SHE PBESS SpecUl Serriee,] WELLINGTON, October SI. Provided the present prices of butter and cheese hold good during the next few weeks, the prospects of the New Zealand dairy farmers are particularly bright. The current season's production promises to be a record one, and by the middle of December over 1,000,000 boxes of butter and well over 300,000 crates of cheese will have been shipped overseas. The steady rise in the price of butter and cheese during recent months, and the favourable outlook for the market, aro factors which, coupled with the .greatly increased production and shipments this season aro giving rise to a feeling of optimism regarding the position of the dairy farmer and the dairying industry of the Dominion. A year ago there was in cold storage iu London about 900,000 boxes of butter. Oh October 14th the Dairy Board was advised that Loudon stocks totalled 226,000 boxes of butter, or roughly one quarter of last year's stocks, while the shipments to London by New Zealand's chief competitors were seriously curtailed by drought and by other conditions.

During l July, August, and September Australia exported 41,000 boxes of butter, as compared with 133,550 boxes in the same months last year. During the same period Argentina exported 19,910 cwt against 79,300cwt last year, while Canada, during May, June, July, and August, exported 3625 boxes of butter against 55,938 boxes, and 390,481 crates of cheese against 557,6"10 crates last year. Till the end of this month shipments of new season's butter to the United Kingdom from the Dominion totalled 305,780 boxes of butter, as compared with 90,000 boxes, and 76,262 crates of cheese as compared with only 20,000 crates at this date last year. * Regulation of Shipments.

At the last meeting of the Dairy Board on October 21st the question of the regulation of shipments was considered in the light of the present market position, and it was decided to ship out all cheese up to the end of January without any reservation. Arrangements had already been made for the shipment of butter without reservation to the end of November, and tentative arrangements have now been made to enable the prompt shipment of butter to the end of January also, this position to be again reviewed at the November meeting of the Board. According to a report submitted to the Dairy Produce Board, final sailings from the Dominion with new season's butter and cheese have been:—September 17th, Euahine: butter 30,615 boxes, cheese nil; September 22nd, Port Hunter: butter 1099, cheese nil; September 2oth, Port Caroline: butter 75,364, cheese 15,309 elates; October 4th, Tainui: butter 11,212, cheese nil; October 11th, Westmoreland: butter 63,336, cheese 15,265; October 20th, Middlesex: butter 85,662, cheese 30,800; October 29th, Mataroa: butter 72,091, cheese 14,S88: total—butter 339,376 boxes; cheese 76.262 crates.

In addition to tho above shipments, the Cambridge sailed on September Bth with 16,062 boxes- of butter, mostly carry over from the 1926-27 season, though a small quantity of early August gradings were loaded at.Auckland i>y this ship, which, however, would be offset by a few lines of old season's butter subsequently released for shipment in some of the above steamers. All the above shipments were for London, except 33,596 boxes of butter, taken by the Middlesex for discharge at Halifax. At this date last year only 90,000 boxes of butter and 20,000 crates of cheese of the new season's production had left the Dominion. Season's Shipments. The Pakeha is to leave Wellington this morning for London, via Montevideo with 49,000 boxcß of butter and 30,500 crates-of cheese. Including her shipment, the allotments of butter and cheese for the United Kingdom and Halifax to the middle of December are as follows:

■ Butter. Cheese, Due Steamer. boxes. crates. U.K. Takeha. ■.., 48,000 30,500 . Dec; 14 Kotorua .. 133,000 24,100 Dec. 16 Kia "Ora .. 78,000 14,240 Dec. 28 Kuapehu .. 82)630 10,700 Jan. 4 Port Darwin '.. 60.000 32,000 Jan. 6 Corinthic ... 65,160 14,750 Jan. 4 Bemuera .. 74,800 11,600 Jan. 15 Port Hardy .. 9"2,000 15,000 Jan. 29 Mahia ..33.500 26,000 Jan. 27 Turakina ... 34,000 35,550 Jan. 21 Totah .. 602,300 214J110 Thus when the Mahia and Turakina sail from Lytteltan and Dunedin respectively on December loth, the total ship--n.ents of the current season's dairy produce since September 17th will have been well over 1,000,000 boxes of butter and.practically 300,000 crates.of cheese. All of this huge quantity is for the United Kingdom except.the Middlesex's 33,596 boxes of .butter for Halifax, -40,000 boxes of butter by the Kia Ora for Halifax, and 35,000 boxes of butter by the Port Hardy for Halifax and New York. Apart from the shipments to Halifax and the United Kingdom this season, about 60,000 boxes of butter were shipped to Australia, and 12,000 to Vancouver in August-September, and about 5000 boxes to. those destinations during October. The total sales this year to date to Canada and the United States are approximately 180,000 boxes. , The Kotorua, which is to sail from Wellington on November 10th, will have 124,000 boxes of butter _ and 29,000 crates of cheese, which will be a record shipment of dairy produce in one ship from New Zealand. At Auckland the Eo+orua will load 90,000 boxes of butter and 3500 crates of cheese, clearing the stores of butter. The Kotorua will be practically full of dairy produce.

TUI BREWERY, LTD. The statement of accounts of the Tui Brewery, Ltd. (Mangatainoka), issued for the year ended August 31st, discloses a net credit balance of £11.995. The gross revenue amounted to £17,47.4, ■which contrasts with £15,938 in the previous year. The expenses, including £1546 written' off for depreciation, amounted to £7125. against £6647, leaving the net profit at £10,289, to which must be added £1706 brought forward from the previous year, making available £11.995. Out of this £BOOO is added to the reserve fund, the dividend for the year i» 12J per cent., and the bonus is 5 per cent., making the total distribution 17J per cent., of which 10 per cent, was paid as an interim dividend. After payment of income-tax and bonua to staff, the balance is to be carried forward. With the proposed addition. the reserve fund will be £IO,OOO. The capital of the company is unchanged at £22.176, sundry creditors account for £l9lO, against £2007; bank overdraft (which appears for the first time), amounts to £2121, and profit and loss, less interim dividend, is £9773. The assets comprise land and buildings, £BOOO, against £S7OO; plant, machinery, and lorries, £4300, against £4100; office furniture, at £6O, is unchanged; the investment account, at £7543, compares with • £2890 last year; sundry debtors, at £7203, are up £1855; fixed deposits and cash in. hand total £3662, against £1757, buildings suspense account (a new item), stands at £700; and stocks on hand, £11,517, against £12,060: the total of the assets beta 5 £42,985, against