SERIOUS CHARGE

Rotorua Morning Post, Volume 2, Issue 514, 24 April 1933, Page 5

SERIOUS CHARGE

(Press Assn.-

AGAINSf DAIRY BRD. / ALLE^ED CONNIVANCE IN SCHEME TO DEPRESS MARKETS SELLlNG " IN ADVANCE

-By Telegraph — Copyright).

New PIymcufLt Sunday. Interest in dairy circles has Tfre t aroused by the allegations by Mr. Hawke, a director of the Patea Dairy Company at a public meeting, that certain firms handling New Zealand produce were offering large quantities on the London markets at a price much below the present market values, and were foreing down the price. Mr. Hawke alleged that qnantities totalling over 14,000 tons were handled by one of these firms, which he said, sliould not he permitted to handle produce. He also stated that the Dairy Produce Board had been aware of the position for three months, arid had taken no action. He alleged that the object of such firms was to secure cash to meet obligations to banks. "These same firms have been known I to sell produce at times before it has reached the market, and I heard on one oceasion that one firm sold dairy produce before it had left New Zealand. To-day I was told that a certain well known firm is offering cheese on j the London market for May delivery at 38/- cwt. at which price the companies would nett only about 10/cwt. plus exchange." Mr. Hawke quoted the following cable received from the Importers' Association of Great Britain, which he said had been received by the Dairy Board and the Dairy Company Advisory Committee-: "Reeommending instructions should be given to all agents either direct from the factory or through the board, that consignments of butter and cheese shall not be sold until the steamer has commenced to

discharge and that no portion of the consignment be allocated by the agent to forward contract, the consignee to furnish the board with any information required to ensure instructions are carried out. "This recommendation is design-r ed to stop the practice of selling consignments at under eurrent prices before the steamer ties up, thus continually depressing the market."