THE BUTTER MARKET.

Taranaki Daily News, 14 January 1922, Page 8

THE BUTTER MARKET.

A WAIKATO OPINION. BREACH WITH SOUTH ISLAND. Hamilton, Jan. 11. In an interview to-day, Mr. W. Claud Motion, chairman of directors of the New Zealand Co-operative Dairy Company, Limited, said it appeared as if the butter crisis were almost over. The determination of the Australian and New Zealand producers to secure control of the Imperial butter stocks, amounting to 22,000 tons, had been an important factor in bringing about, a remarkable activity in the London market, although the lower prices bad also stimulated consumption. During the past week 13,000 tons of this butter had been disposed of through the ordinary channels, although for several months past the sales had been only nominal. A cablegram received to-day states that all the New Zealand stored butter has Dow been sold, and that only 8000 tons of Australian butter is now in store. In the circumstances, said Mr. Motion, it would be unnecessary for the Dominion Government to take . any further steps toward repurchasing the Imperial stocks, and he anticipated a steady recovery of prices for free butter now arriving on the English market. It was too early yet to say what the ultimate results would be, but a serious menace had been removed, and the whole negotiations had furnished a striking example of the co-operation, that is possible between the producers of Australia and New Zealand in a serious crisis.

“I would like to pay a tribute,” said Mr. Motion, “to the support which the Goodfellow-Ellison repurchase scheme received from the North Island butter producers, who supported it unanimously. 1 must express keen regret, however, at the narrow vision possessed by the delegates from the South Island. Although the South Island was responsible for only 10 per cent, of the total butter exports last year, they outnumbered the delegates from the North Island, and threatened to withdraw from the conference because the previous ruling as to voting on a tonnage basis was adhered to, and a vote on a show of hands was not taken as final. We expected their solid support in the recent crisis, and their action has created a serious breach between the butter producers on both islands. The southern delegates consisted almost entirely of executive officers, and no meetings of their directors had been held prior to the conference. Personally, I believe that if there had been more bona fide butter producers on the delegation from the South Island the unfortunate position at the conference would not have arisen.”