H—3o

Dairy-produce Account Br. £ £ Cr. Deficit on 1936-37 season's produce .. .. .. .. 276,850 Surpluses— £ Less payment from Consolidated Fund .. .. .. .. 276,850 1937-38 season's produce .. .. .. .. .. .. 576,724 .. 1939-40 season's produce .. .. .. .. .. .. 62,363 Deficit on 1938-39 season's produce .. .. .. .. .. 2,514,889 1940-41 season's produce .. .. .. .. .. .. 151,989 Balance, being net surplus from commencement of purchase up to 31st 1941-42 season's produce .. .. .. .. .. .. 773,252 July, 1947, transferred to Dairy Industry Stabilization Account— 1942-43 season's produce .. .. .. .. .. .. 734,657 Amount transferred previous years'accounts .. .. .. 2,605,444 1943-44 season's produce .. .. .. .. .. .. 575,576 Amount transferred 1946-47 year's accounts .. .. .. 960,269 1944-45 season's produce .. .. .. .. .. .. 1,154,011 3,565,713 1945-46 season's produce .. .. .. .. .. .. 1,114,605 1946-47 season's produee purchased up to 31st July, 1947 .. .. .. 937,425 £6,080,602 £6,080,602 Dairy Industry Stabilization Account : Transactions during the Year ended 31st July, 1947 Br. £ £ Cr. £ Additional administration costs, New Zealand Dairy Board .. 16,000 Balance as at 31st July, 1946 .. .. .. .. .. .. 4,703,240 Returned Servicemen's discounts, herd-testing service .. .. 7,000 Transferred from Purchase and Sale Account (Final), 1945-46 season .. .. 169,974 "Veterinary Services Council grant (section 18, Veterinary Services Transferred from Purchase and Sale Account, 1946-47 season .. .. 11,800,530 Act, 1946) .. .. .. .. .. .. .. 5,842 Transferred from Dairy-produce Account, 1946-47 season .. .. .. 960,269 28,842 Proceeds from increases in sale-prices of produce outside bulk agreement .. 60,882 Dairy-factory and farm-costs allowances .. .. .. .. 8,262,938 Payment from Consolidated Fund towards cost of stabilizing prices of butter and Subsidies on fertilizers, &c. .. .. .. .. .. 1,527,266 cheese on the local market ... .. .. .. .. .. 1,193,902 Cheese-crate pool stabilization payments to 31st July, 1947 .. .. 70,855 9,861,059 Increased costs of storage, of dairy-factory requisites, and of insurance to f.o.b. on increased values of dairy-produce .. .. .. .. .. 91,437 Balance as at 31st July, 1947 .. .. .. .. .. .. 8,907,459 £18,888,797 £18,888,797 Note.—The Dairy Industry Stabilization Account was opened in terms of the stabilization agreement between the Government and representatives of the farming industries (see annual report for 1942-43, pages 3 to 6). The debits to the account will be the costs allowances and other costs of stabilization in terms of the stabilization agreement. The credits to the account are (a) the surplus in the Dairy-produce Account; (6) the proceeds of increases in sale-prices received after 15th December, 1942.

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