FACTORY BUTTER.

Press, Volume LXVI, Issue 20092, 22 November 1930, Page 12

FACTORY BUTTER.

PltlCE DROPS TWOPENCE PER LB. The retail price of the standard brands of factory-made butter is lower in Christchurch now than it lias been since 1913. Yesterday the price dropped twopence, to retail at Is Id per lb. The grocers' own lines of butter have also dropped to sell at lid and la per lb. Separator butter may be bought for lOd per lb. Only twice before during the past twenty years has the price of factory butter been so low in Christchurch, in April, 1912, and in January, 1913. During 1921 it retailed for as much as 2s 3d per lb. A factory manager said yesterday that tho decrease had been made in an attempt to bring prices somewhere near those ruling on the London market. The latest advice from there showed that the former prices were not warranted. The lower price should also prevent the price-cutting which had been going on. LONDON QUOTATIONS. ;u::itzd yRESS association —r.v kt-ECTaio TELEGRAPH -COPYRIGHT.) LONDON, November 20. Butter—The market is depressed, with littlo business. Quotations are: Danish, 130s. Choicest salted New Zealand, ICC.? to lQS's. Australian, 10'2.s to 104s. exceptionally 100s. Unsslteds: New Zealand. 143s to 152*;. Australian. 121s to 328s per cvt. Cheese—The market is dull. New Zealand, coloured 66e. white C 9» p©r cwt. Dalgety und Company, Ltd., have roceived tho following cablegram from Samuel Page and Son, dated London, November 20th:— Butter—Market depressed, especially stored. Daninh 136s to 14Us, finest New Zealand 102 a to 108s, finest Auntralinn on* salted 122s to 1265, salted 100s to 106s, g.G.q. 94s to 98b. Cheose—Market slow. Quotations:—Now Zealand white 71b to 745. and coloured 66s t> 695; Canadian spot white 72e to 78s, and coloured 72s to 78k: Australian white 70s to 725, and coloured 66s to 68f. The National Mortgage and Agency Co of New Zealand. Ltd., advise having received the following cablegram from their principals, A. J. Mill* and Co.. Ltd., London:— Butter—Market weaker. New Zealand finest 108s to IJOs. Now Zealand firsts 104s to 105s. Danish 138s to 140s, Australian 300 a to 104s. Cheese—Market blow. New Zealand white 72s to 735, New Zealand coloured 67s to GBs. Canadian white and coloured 74s to 78a. A. S. Patcrson and Co., Ltd., have received the following cablegram from their London representatives, J. and J. Lonsdfilo ami Co., Ltd.:--Butter—Market dopreaaed, tendency easier. Danish 138«, New Zealand 104s to 108s, Australian ICOs to 10'ls. Cheese—Verv slow demand. Prices declining. White cheese 70a to 71s, coloured 67s to 6£s. FOR CANADA VIA LONDON. An eiVort now being mode i:i Australia to arrange for the shipment of butter to London for transhipment to Canada. It is understood that tho coat of adopting this route will amount to about 2s a box. which is not prohibitive, but shipowners will accept large consignments only. Butter shipped in this way from Australia would bo landed at Halifax nnd Bent by rail to Montreal or Quebec. Australian firms are anxious to develop the trado with Canada, because at present the outlook in the London market is poor. Supplies Boinp forward to London now aye so heavy that any rel : ef which the diversion of Australian butter to Canada will provide will be welcome to Australian exporters. HYDRO CONCESSIONS, LTD. ANNUAL REPORT. fTHE PBESB Special Service.l

DUNEDIN, November 21

The annual report of the New Zealand Sounds Hydro-Electric Concessions. Ltd., which holds an option over oertain water lights in the Te Anau and liowen Falls district for the proposed extraction of nitrates from tho air, reads as follows: As notified in a circular sent to shareholders, dated June 23rd, the option to purchase the company's concessions was extended till October (sth with a proviso that a further extension to December 6th would be granted only if the Board was satisfied with the arrangements for financing the project. In the meantime a cable message was received asking for an extension for 18 months without further payment, on tho grounds that the extreme financial depression and other conditions existing in liurope and America were such as to preclude obtaining the necessary capital at present. but that the option holders were anxious to continue their scientific investigations with a new to their ultimatelv purchasing the concessions. Youi directors felt that they could not agree to this proposal, and stipulated what they considered to be a reasonablv substantial cash payment, the company having in the meantime obtained an extension of tho license from the Government until September sth. 1933. The offer to extend the option upon the terms stipulated was not accepted. The comnany, by the terms on which it extended the option until October, has acquired the right to use the very comprehensive plans for the power development prepn red l>v Mr H. P. Gibhs. and is therefore able to offer them with the concessions to any other likely mirchaser. In view of the option not having been exercised. vouv directors have considered it expedient to reduce the expenditure in connexion with the compnnv to an absolute minimum. Tt is the inten tion of vo"i directors still to persevere in their effo-ts. nnd to prosecute evrv jivenue to finH n oure'>n°er for the concessions, whilst still keening j n touch in the meantime with the group which held the option.