FINAL BUTTER PAYMEN

Hauraki Plains Gazette, Volume XXXIV, Issue 4588, 20 July 1923, Page 2

FINAL BUTTER PAYMEN

EXPECTED TO REACH. 1/6. N. Z. DAIRY COMPANY’S FIGURESA very important statement regard ing the final payments for butter-fat supplied to the New Zealand Co-op. Dairy Co. was made by Mr A. J, Sinclair, assistant, general manager, at a meeting of cream suppliers at Waitoa on Wednesday. . Mr Sinclair quoted the monthly payments for first grade cream for the past season as follows :— June and July, Is Bd_; August, is 7d ; September/Is'6d; October to December (inclusive), Is 1 ; January, Is 2^d; February and March, Is 5d ; April and May, Is 2%d. The average payment for the season worked out at Is 4d.

The company, he said, had a sur-. plus in hand, and he expected the payment for the whole season’s supply to be about, Is 6d per lb. Obviously, however, an injustice would be inflicted upon the suppliers who sent in the bulk of their cream in October, November, and December, if a flat rate of way of final payment was made over the whole season, because the butter on which low advance, payments were made realised very satisfactory prices. The intention of the directors was, therefore, first of all, t.o take from the accumulated surplus sufficient to even-up the payments for the low months, and it wa° anticipated that a very substantial cash payment would be made next month on butter supplied between October 1 and January 31. This payment, would be quite clear of any share deductions, as an additional cash’ payment of %d would be made to the suppliers, which was the amount required’for share capital fo r butter and coal and timber shares.