B.—l [FT. IV], SUP. TO 1938.

PRIMARY PRODUCTS MARKETINC4 DEPARTMENT—continued. DAIRY-PRODUCE EXPORT DIVISION —continued. WHEY BUTTER. Purchase and Sale Account, 1937-38 Season —continued. Shipments for which Complete Sale Proceeds have been received at 31st July, 1938. Dr. £ Or. £ Purchase of 51,519 boxes .. .. .. .. 151,744 Sale of 51,519 boxes (less United Kingdom Balance carried forward (surplus on 51,519 boxes) .. 10,452 selling-charges, including landing-charges, agents' commission, trade discount, and storage) .. .. .. .. 171,902 Less— £ Freight .. .. .. 9,392 Insurance .. .. .. 314 9,706 162,196 £162,196 £162,196 Shipments for which only Partial Sale Proceeds have been received at 31st July, 1938. Dr. £ Or. £ Purchase of 19,470 boxes .. .. .. .. 57,115 Balance carried forward (surplus on 51,519 boxes) .. 10,452 Balance carried forward (estimated surplus on 70,989 Sale of 14,842 boxes (less United Kingdom sellingboxes) .. .. .. .. .. .. 13,295 charges, including landing-charges, agents' £ commission, trade discount, and storage) .. 48,528 Estimated sale value of 4,628 boxes in store, United Kingdom or afloat, at 31st July, 1938 (basis of valuation, 110s. 6d. per hundredweight sterling, less United Kingdom sellingcharges) .. .. .. .. 15,112 63,640 Total boxes, 19,470. Less— £ Freight .. .. .. 3,550 Insurance .. .. .. 132 3,682 59,958 , £70,410 £70,410 i =a=a - , . Stocks in Store in New Zealand awaiting Shipment at 31st July, 1938. Dr. £ Or. £ Purchase value of 840 boxes .. .. .. 2,438 Balance carried forward (estimated surplus on Balance carried forward (estimated surplus of 71,829 70,989 boxes) .. .. .. .. .. 13 295 boxes), (1,795 tons 12 cwt.) .. .. .. 13,173 Estimated sale value of 840 boxes (basis of valuation, 100s. per hundredweight sterling, less £ United Kingdom selling-charges) .. .. 2,474 Less — £ Freight .. .. .. 153 Insurance .. .. .. 5 -— 158 2,316 Total boxes, 71,829 (1,795 tons 12 cwt.). £15,611 £15,611 £ £ Proportion of administration and general expenses .. 1,833 Balance brought forward .. .. .. 13,173 Balance to Dairy Industry Account (estimated surplus on sale of whey butter) .. .. .. ..11,340 £13,173 £13,173 (Note. —The bulk of the produce unsold at balance date has since been realized at prices in excess of the valuation figures.)

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