BUTTER PAYMENTS

Hawke's Bay Herald-Tribune, Issue 112, 28 May 1937, Page 4

BUTTER PAYMENTS

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Need for Oyerdrifts Stressed CHANGE IN SYSTEM

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WHANGAREI, Last Nigbt A recent reference in tbp Fress tt the fact that several companies have had to pay interest on a large overdraf t to enable "the usual monthly advance paympnti tq suppjjejg W be madp owing to shipments of butter being dplayed wai refprred to at the annual Nortb Auckland dairy sohfert ence, It was suggested that, unless some relief is fortbeomdng, it might be necessary te rctard tbp moBtbly ait vanee payments to suppliers. A. remit before tbe meeting statpd . tbat dairy factories were being foreSd to incuy unnucelpsarily bigb isterpit charges during tbe autumn mqnthi, tbt time "wben oyerseas shipments of dairy produce wero retarded. " Tbis conference, tberefbre,'' proceeded the rei^ity "in view of tbe fact that under tbe guaranteed price scheme aii dairy pro* ducQ virtually becomes the property pf the Goivernment when manufactured, urgeg that all butter graded in any one month be paid for on th'e 20th of ihe month following, irrpppeptive of tbe date of shipment; tbat, faUing relipf in thus direction, tb»* conferanca epa* siderp the only alternative ip to retard advapce payments to suppliers ia * BimiJar manner." Thp remit was earried.