H.—3o.

The approximate average f.o.b. purchase prices paid or payable for this produce in terms of the Primary Products Marketing Act are as follows : — Creamery butter .. .. .. .. 14-96766 d. per pound. Whey butter .. .. .. .. 13-87899 d. per pound. Cheese .. .. .. .. .. 8-45819 d. per pound. The approximate average f.o.b. realizations for produce (actual and estimated) as shown in the accounts are as follows :— Creamery butter .. .. .. .. 13-75680 d. per pound. Whey butter .. .. .. .. 12-59314 d. per pound. Cheese . . .. .. .. . . 6-81966 d. per pound. In the compilation of the accounts butter and cheese unsold at balance date were taken in at the following values : — Creamery butter (shipments partially sold) : 1235. 9d. per hundredweight sterling gross. Creamery butter (in store awaiting shipment) : 1245. 6d. per hundredweight sterling gross. Whey butter (shipments partially sold) : 106s. per hundredweight sterling gross. Whey butter (in store awaiting shipment) : 116s. 6d. per hundredweight sterling gross. Cheese (shipments partially sold) : 665. 6d. per hundredweight sterling gross. Cheese (in store awaiting shipment) : 665. per hundredweight sterling gross. The accounts submitted comprise— (1) Separate Purchase and Sale or " Pool " Accounts for creamery butter, whey butter, and cheese. (2) Administration and General Expenses Account. (3) Income and Expenditure Account. (4) Balance-sheet. The Purchase and Sale or " Pool" Accounts show the purchase value of the produce, and the sale value less selling-charges, freight, and insurance. To each Purchase and Sale Account is charged its proportion of the total administration and general expenses, amounting to £238,799. The Dairy Industry Account shows the position of the Produce Purchase and Sale Accounts as follows:— £ Estimated deficit on creamery butter .. .. .. .. 1,315,712 Estimated deficit on cheese .. .. .. .. .. 1,216,819 Estimated deficit on whey butter .. .. .. .. .. 20,398 Estimated deficit, Dairy Industry Account, 1938-39 season .. £2,552,929 The balance-sheet is drawn up in the usual form to show liabilities and assets as at 31st July, 1939. VrrUgk, Minister of Marketing.

5—H. 30.

35