Markets and Money

Sun (Auckland), Volume I, Issue 230, 17 December 1927, Page 13

Markets and Money

(Continued.} WAIKATO WEALTH FACTORY PAY-OUTS BIG INCREASE SHOWN (From Our Own Correspondent) j HAMILTON. To-day. The wealth of the Waikato is strikingly revealed in the paypayments being made by various factories to suppliers for November. Eight co-operative factories in the district are paying out a total of £105,521. This is independent of the huge advance made monthly by the New Zealand Co-operative Dairy Company, which last month paid out an enormous sum running into hundreds of thousands sterling. The return from the golden cow in the flush period of the season are far in advance of those for last year, and new records are constantly being created. The first six months of the season ending on November 30 have been particularly favourable in every respect. The season opened with prospects of better marketing conditions following the slump, and those expectations have been fulfilled. The release by the factories of so lunch money to the farmer will be the more appreciated by him in view of the close approach of the festive season, and this Christmas should be a much rosier one than last. AVERAGE PAYOUTS The average of payouts in the Waikato seem to be Is 4Ad for butter and Is 6d for cheese for November supply. In the Morrinsville district three factories are distributing amounts which together total £25,754, while the combined payments of the two Te Awamutu factories total £11,280. The rich Cambridge district will receive a distribution totalling nearly £50,000 from its two factories. The figures for the payments exceed those from the same factories for last month by some thousands of pounds, while the Raglan payment is ! not included in the total. SOUTHERN EXCHANGES Press Association. Christchurch.—On 'Change: New Zoaland Breweries (10 per cent, bonds), 23s Bank of New South Wales, £45 7s bd (two parcels); British Tobacco, 39s •d; Mount Lyell, 2Ss 3d. Reported; 4i P«r cent. Inscribed Stock, 1939, £97; Bank cf Australasia, £l4 15s; Union Bank of Australia (new, second instalment paid) £8 15s (two parcels). Dunedin.—Reported Sale: New Zealand tfrugs, £3 Ss 3d. BUTTER MARKET Mr. G. Paviour-Smith has received the following cabled butter market report from his London principal, the Angio-Continental Produce Co., Ltd., dated 16th inst: ; Market weak; New Zealand 156 s to 160 s cwt; Australian, 150 s to 15Ss; Argentine, unsalted, 144 s to 160 s.