DAIRY BOARD FINANCES

Evening Star, Issue 22465, 9 October 1936, Page 7

DAIRY BOARD FINANCES

LARGER INCOME SURPLUS RESEARCH EXPENDITURE The accounts of the New Zealand Dairy Board show an excess of income over expenditure of £2,967, as against £164 in the previous year. The report states that the total net levy collected on butter and cheese exported amounted to £79,290, and after adding interest from investments, amounting to £SOO, there was a total revenue of £79,790, as against £77,638 in the previous year. The cost of management at the head office, Wellington, was £8,826, and in London £9,336. Exchange on remittances to London for advertising and office expenses was £9,458. Expenditure on shipping supervision, shipping work at the branch offices in Auckland, New Plymouth, Lyttelton, and Dunedin, “ Exporter,” board meeting expenses, etc., absorbed £13,044. The payment toward the cost of research from the industry was £7,400, against £4,900 the previous year. The subsidy to Cawthron Institute was reduced to £lO5, and after a similar payment next year disappears from the accounts. Advertising in Great Britain absorbed £28,548, bringing the total expenditure to £76,823, compared with £77,474 in the previous year. The report also reviews fully the changes made since the Labour Government took office and gives full details of the new regulations, together with particulars of the prices guaranteed by the Government from August 1, 1936.

THE RESERVE BANK THE WEEKLY SUMMARY [Per United Press Association.] WELLINGTON, October 8, The ‘ Gazette ’ issued to-night contains the following statement of the liabilities and assets of the Reserve Bank of New Zealand as at the close of business on October 5. The figures at the close of last week are given for the purposes of comparison, shillings and pence being omitted;— LIABILITIES. Last Week. This Week. £ £ 1. General Reserve Fund 1,500,000 1,500,000 2. Lank Notes 11,174,757 11,295,354 3. Demand liabilities—(a) Sure 3,898,062 3,825,856 (b) Banks 6,873,521 7,179,888 (c) Other 241,634 130,559 4. Time deposits ... ... 5. Liabilities in currencies other than New Zealand currency .. ... 6. Other liabihties 105,489 102,528 Total £23,793,465 £24,034,187 ASSETS. 7. Resenre-- ' (a) Gold 2,801,788 2,801,788 (b Stealing exchange 16,835,564 16,646,102 (c) Gold exchange ... 8. Subsidiary coin 170,524 168,950 9. Discounts—(a) Commercial and agricultural bills (b) Treasury and local body bills 10. Advances—(a) To State or State undertakings—(l) D.rry industry account 1,095,350 1,464,461 (2) For other purposes .. 700,000 700,000 (b) To other public authorities ... (c) Other ... 11. Investments 2,123,576 2,186,244 12. Bank buildings ... 13. Other Total ... ... ... £23.793,465 £24,034,187 Proportion ol reserve (No. 7 less No. 5) to «- notes and other demand liabilities 88.504% 86.698% COMPANY NEWS SECURITIES CORPORATION NEW MANAGER APPOINTED. Mr W. Sandman has been appointed manager at Auckland of the Securities Corporation (N.Z.) Ltd., Dunedin, in place of Mr G. Finn, who is retiring. AUSTRALIAN IRON AND STEEL DIVIDEND The Australian Iron and Steel Company has advised the Stock Exchange Association that the share register will he closed from October 19 to November 2, pending the payment of the half-yearly dividend on preference shares on the latter date. NEW ZEALAND NEWSPAPERS INTERIM DIVIDEND [Special to th ! ' Star.’] AUCKLAND, October 9. New Zealand Newspapers Ltd. has declared an interim dividend of 7d a share for the half-year ended September 30 (payable on October 21).