BUTTER ACTIVE

Dominion, Volume 28, Issue 105, 28 January 1935, Page 12

BUTTER ACTIVE

New Zealand at 84/- to 86/CHEESE STEADIER The steady improvement was continued lats week in the London butter market which closed linn and active on available short supplies, at 84/- to 86/- for New Zealand salted, the highest figure recorded since November, 1933, when -So/- to 88/- were the prices ruling. A strong demand continues, and the retail price of butter in New York has now risen to 35} cents, while at Moul real the price is 23} cents. The C. and D. Line motor-ship Fort Gisborne, which is to leave Auckland on February 5 lor London, Liverpool, and Glasgow, will now call’at New York en route with between 25,000 and 30,000 boxes of butter for that port. . , The Imperial Economic Committee s estimated'stocks of al! butters in store is 470 311 boxes, compared with boxes a year ago. Deliveries of New Zealand butter last, week totalled _.>~2 tons, compared with 2022 tons for the previous week, and 2133 tons a year ago. The quantity of New Zealand in store is 4932 tons, against 5285 tons for the previous week, and 3200 tons a year ago, Australian butter in store, at 3641 tons, compares with 6650 tons a year ago. The cheese market is reported steadier after a quiet opening, with the demand improving. White anti coloured are quoted at 45/6 to 47/-. Zealand cheese last week totalled 18.J14 crates,' while the quantity in c 82,534 crates, compared with -o.ffiiu crates a year ago. The Dairy Board s London office, reports Friday’s official closing quotations ns follow, those for the previous week being shown in parentheses: Butter. New Zealand, salted, 84/- to 85/(79/- to 82/-; January 26, 1933, 67/- to 68/-) ; (84/- to 85/- equals approximately 9.79 d. f.0.b.) ; unsalted, 88/- to 90/(84/- to 86/-; January 26, 1933, 72/-to 74/-). Deliveries, New Zealand. 23 Jtons'; in store. 4932 tons. Australian, salted, 82/- to 80/-, ex. M/(79/- to 81/-) ; unsalted, 85/- to 86/(82/- to 84/-). Deliveries, Australian, 2889 tons; in store, 3641 tons. Danish. 96/- f.0.b.. 116/- to Hi/- spot (97/-; 118/-). , Dutch, un salted. 109/- to 110/-. The board has also received the following advice from its agents in Canada :—- Butter : New York, 35} cents a lb.; Montreal, 23} cents. Cheese. New Zealand, white and coloured, 45/6 to 46/- ex. 46/6 (45/- to 46/6; January 26, 1933, 41/- to 44/-) (4.85 d. f.0.b.). Deliveries, New Zealand, 18,914 crates; in “store, 52.534 crates (including 17,720 crates ex lonic and Rangitane). Australian, white, 44/6 to 45/- (40/-) ; coloured, 44/- to 45/- (45/-). __ Canadian, white and coloured, ob/b to 59/- (56/- to 60/-). Deliveries, Canadian. 8271 boxes; in store, 123,049 boxes. English finest farmers, 82/- to 90/(82/- to 90/-). English factory cheese, 43/- to 44/-. Agents’ Reports. Mr. Thomas Gray has received the following cable from Mr. A. C. Rowson, dated’’London, January 25:—Cheese: New Zealand, white and coloured, 47/per cwt.; demand improving. _ Butter: New Zealand first, grade, 85/-; New Zealand, finest grade, 86/-. Demand active, especially from America. A. 11. Turnbull and Co., Ltd., have received the “following cable from their principals, W. Weddel and Co., Ltd., dated London, January 25: —Butter: Market strong, upward tendency. Danish, 116/-; New Zealand finest, 86/-; Kangaroo finesq 85/-. Cheese: Rather better demand. New Zealand, white, 47/-; New Zealand, coloured, 46/-; Canadian, 59/-. Joseph Nathan nnu Co., Ltd., have received from their Trengrottse and Nathan, Ltd., London, the following cabled advice, dated January 25New Zealand butter: Very firm, upward tendency, 86/-. New Zealand cheese : White, 46/6. coloured 46/-; firm. The New Zealand Producers’ Cooperative Marketing Association’s weekly cabled market report, dated London, January 25. is as follows: Butter: Market firm. New Zealand, finest grade, 84/to 85/-; first grade, 83/- to 84/-; Danish, 116/- to 117/-. Cheese: Market steady. New Zealand, white, 45/6 to 46/-; coloured, 45/- to 46/-. Minimum F. 0.8. Prices The New Zealand Dairy Produce Board has fixed the minimum prices for f.o.b. and c.i.f. sales on the basis of: Butter. Old.; cheese, 5(1. Minimum prices are subject to agent’s selling commission of 1} per cent. These prices are equivalent to: Butter, 77/10 c.i.f.c.; cheese, 44/- c.i.f.e. DIVIDEND, 5 PER CENT. t National Mortgage & Agency Company ’ The National Mortgage and Agency Company of New Zealand, Ltd., have advised the- Stock Exchange Association that subject to approval by shareholders at the annual meeting to be held in London on February 26. a dividend at the rate of 5 per cent, per annum for tlie year ended September 30, 1934. will be paid, z Notice is given that the Dominion register of shares will be closed from February 13 to February 26, inclusive. The dividend will be paid on receipt of cabled advice of the result of the annual meeting, and will lie payable at tlie National Bank of New Zealand, Ltd,, Loudon. The rate of distribution is unchanged from that of the previous year. SMITH AND SMITH, LTD. Preference Dividends Smith and Smith Lid., report that the slump period following heavy loss sustained when the Napier and Hastings branches were destroyed in the Hawke’s Bay earthquake, found debit balances to the profit and loss account at June, 1932 and 1933. Notwithstanding existence of reserves, no dividends were pnid after that for January. 1932. A recovery in tlie June, 1934. year, showed a balance to credit: and it was decided, in addition to preference dividends that would have been paid in 1934-35. tlie 1932 and 1933 preference arrears be pnid in this, tin current year. Favourable figures for tlie half-year to December 31. 1931. enable the directors to declare due dates for payment of tlie remaining arrears —-i.e.. 1931 preference The last half-year’s ilividoml for 1933 is payable on April 30. 1935. Dividends for the two 1934 half-years are payable together in one stun on June 1. 1935, Halfyear’s dividend due on January 31. 1935. will be pnid on that date. London Rabbit Market P,v Telegraph.—- Press Vsn -Copyright (Received January 27. 6.30 p.m.) London. .January 26. Rabbits, first large, ex store. Ki/G to it/-.