BOOSTING N.Z. PRODUCE

Sun (Auckland), Volume III, Issue 701, 28 June 1929, Page 10

BOOSTING N.Z. PRODUCE

POLICY OF DAIRY BOARD ADDRESS BY CHAIRMAN (Special to THE SUN) WHANGAREI, Thursday. A progressive policy of economic market development and sales regulation was outlined at Whangarei today by Mr. W. A. lorns, chairman 'of the Dairy Produce Control Board, in an address before between 300 and 400 delegates to the National Dairy Association conference. The conference expressed satisfaction in the present policy of the board. Tho policy of the board, said Mr. lorns, was to foster any movement which tended to raise the quality of New Zealand’s dairy produce, or improve marketing facilities. The board had been largely responsible for the decision of the Government to set up an advisory council with a view to establishing herd testing and calf-marking on a national basis. In this they had invaluable assistance from the director of agriculture, Dr. Reakes. The suggested personnel of the council was Dr. Reakes, Messrs. W. M. Singleton (Director of Dairy Division), Dynes Fulton (Waikato), G. 11. Bell (Taranaki), G. R. Herron (Southland), P. W. Hill (Northern Wairoa) and the chairman of the Dairy Board. BIG SAVINGS IN INSURANCE Negotiations had just been completed by the board whereby the industry would save a further £5,000 annually on marine insurance. The new contract became effective in August next and extended over a period of three years. This was in addition to previous reductions brought about by the board, making a total annual reduction in marine insurance expenditure over the period of its operations of between £35,000 and £40,000 annually. While the Dair Board had been able to bring about this reduction another very important primary industry was faced with an increase of 40 per cent. Under the regime of the board freights and storage rates in London had also been reduced, the total savings to the industry on insurance alone more than compensating for the annual levy made upon the industry.

Ilustrating his point, the speaker said that, while a 500-ton butter factory would be expected to pay an annual levy of £145, the total savings in freight, insurance and storage brought about by the board amounted to £1,091. For cheese factories the savings were on an even greater scale, a 500-ton cheese factory now paying a levy of £72 had £1,246 more to distribute among its suppliers annually. Such a satisfactory position indicated the advantage of the board being able to contract with the various interests for tho handling of the whole of the Dominion’s exportable output. EFFECTIVE PUBLICITY An effective publicity campaign was being conducted in the Old Country, said the speaker. This year the board was spending £16,500 in advertising and was concentrating on establishing contact with the retailer and consuming public. Display stands were taken at all the important exhibitions, while publicity matter was distributed freely among the retailers. Inspectors were constantly on the more investigating complaints and endeavouring to build up a goodwill for New Zealand’s produce. Indicating one of the ways in which the board was boosting the Dominion’s dairy produce, the speaker stated that a chain of 300 restaurants in London used nothing else but New Zealand butter and made a feature of this fact on their menus. Replying to a questioner. Mr. lorns stated that there was no doubt that some of New Zealand’s cheese was giving trouble in regard to texture, but this was having the attention of the board and also the dairy research division. The best of New Zealand’s butter and cheese could not be beaten anywhere. A motion expressing complete confidence in the policy of the board, moved by Mr. A. J. Sinclair (Te Awamutu) and seconded by Mr. Carroll (Wairoa. Hawke’s Bay), was carried almost unanimously, an amendment by Mr. Barclay (Northern Wairoa) to the ' effect that it be reduced to one of thanks for the address, being lost. SANFORD, LTD. NET PROFIT OF £8,133 A net profit of £5,133, compared with £9,172 last year, is shown in the annual report of Sanford, Ltd. The lower return is accounted for by the loss of the trawler Thomas Bryan. With the balance of £1,824 brought forward from last year, there is £9,957 available for appropriation. The directors recommend that this sum be allocated as follows: Provision for interim dividend of 34 per cent, paid in December. £4,375; payment of a further dividend of 34 per cent, (making 7 per cent, for the year), £4,375: carry forward the balance of £1,207 Is Id. The retiring directors, Mr. R. C. Hammond and Mr. C. V. Houghton, offer themselves for re-election. Another director is to be elected in place of Mr. Gilbert Sanford, who lias retired. The balance sheet shows assets amounting to £155,536.

BANK OF ENGLAND RETURN (United P.A.—By Telegraph — Copyright) (Australian and N.Z. Press Association) (United Service) Reed. 9.5 a.m. LONDON, Thursday. The following is the Bank of England return:— Issue Department £ Notes issued in circulation .. 362,732,585 In bank department 56,343.542 Government debt 11,015,100 Other Government securities 235,003.204 Other securities 9,149.509 Silver coin 4,832,127 Amount of fiduciary issue.. 260,000,000 Gold, coin and bullion . . . . 159,076,427 Banking Department Proprietors capital 14,553,000 Rest 3,400,91 S Public deposits 24,714,405 Other deposits, bankers .. ~ 67,420,265 Other accounts 36,159,499 Seven-day and other bills . . 2,354 Government securities .. .. 35,551,855 Other securities, discounts advances 26,987.712 Securities 23,236,682 Notes 56,343,5 42 Gold and silver coin .. .. 1,130,650 The proportion of reserves to liabilities is 44.70 per cent. Short loans are quoted at 43 per cent., and three months’ bills at 5 3-8 per cent. BRADFORD TOPS MARKET (Australian and N.Z. Press Association) Reed. 9 am. LONDON, Thursday. The Bradford tops market shows no ; sign of improvement. Quotations are weak:—64’s. 3Sd: 60\s, 37d; 56’s 30d; 50 : s, |26id; 46's, 23d; 40’s, 22d.