THE BUTTER SURPLUS.

Taranaki Daily News, 27 December 1921, Page 4

THE BUTTER SURPLUS.

A NEW PROPOSAL MADE. BRIGHTIER PROSPECTS INVOLVED By Telegraph.—Press Assn.—Copyrigtt. Received Dee. 25, 5.5 p.m. London, Dec. 23. The Australian Press Association understands that the scheme for the forced sale of the surplus butter is not likely to materialise. Another proposal is that the Australian and New Zealand G? v " ernments should purchase the British Government’s stocks at 100 s per cwt for New Zealand and 84s per cwt. for Australian, and. hold it till the autumn if necessary. Sir James Allen (High Commissioner for New Zealand), and Mr. W. Shepherd (acting High Commissioner for Australia), have requested the Board of Trade to delay action till the Australian and New Zealand replies have been received. The trade generally approves the suggestion that the New Zealand and Australian Governments should pUrdbase the butter. One leading importer says only thus can disaster foe prevented. If the Government stocks, amounting to nearly a million boxes, are thrown on the market at sacrifice prices not only will the value of new butters new arriving be still further reduced, but prices for the remainder of the season will be brought to a level which must entail heavy if not ruinous losses to the Australian and New Zealand producers.-*-* Aus.—N.Z. Cable Assn.