H.—3o.

follows 6 — nal reS "' fc °* o P eratlolls for the 1936-37 season, expressed to the nearest pound, is as Deficit on creamery butter .. .. .. £ 384^313 Surplus on cheese .. .. .. 369 ' Less deficit on whey butter .. .. .. ' 5*956 120,413 „ , x . 263,900 Add premiums, staff annuities .. .. .. _ _ g 3gQ Add payments special milk products (Special Milk Products Regulations, 1937) 2,829 8,209 Deficit, 1936—37 season, at 21st June, 1938 (date of closing of accounts).. 279 10Q Add interest to 31st July, 1938 .. .. .. " Deficit, Dairy Industry Account, 1936-37 season, at 31st July, 1938 .. .. 272,482 Full details of the completed financial operations for the 1936-37 season are shown in the section of this report. In t ®.™ s °* undertaking given to the dairy industry, the deficit for the 1936-37 season is the responsibility of the Government. SUMMARY OF RESULTS OF PURCHASE AND SALE OF BUTTER AND CHEESE FOR 1936-37 SEASON. IQ qa T q\ C followin g tabulations show summarized details of the purchase and sale operations for the 1 Joo-37 season in respect of creamery butter, cheese, and whey butter :

Purchase and Sale of Creamery Butter, 1936-37 Season.

4

(Quantity : 5,992,382 boxes. Weight: 149,799 tons 12 cwt. 3 qr. 21 lb.) Amount. Per Hundredweight. Per Pound. g Realization on sales, United Kingdom 15,274,488 104- 1-739 ' n.'isa (sterling gross) 00 Less trade discount* .. .. 127,122 0 10-401 0-093 r ir v tt ■ -> -[7-• 15,147,366 103 3-338 11-065 Less selling charges, United Kingdom— Port dues and consolidated rate 140,816 11-521 0-103 Storage, cartage and delivery, 32,712 2-677 0-024 averaging, and other charges Commission .. .. 305,871 25-026 0-223 - 1 479,399 3 3-224 0-350 Realization on sales, United Kingdom 14,667,967 100 0-114 (sterling net) Plus exchange on remittances to 3,520,327 24 0-029 9 W9 New Zealand Realization on sales, United Kingdom 18,188,294 124 0-l'43 7^987 (New Zealand currency) Less freight and insurance .. 1,103,114 7 6-255 0-806 Net realization on sales, United King- 17,085,180 116 5-888 io.iJT dom, f.o.b. New Zealand Plus realization on sales to destina- 359,509 114 8-567 19 oqi tions other than United Kingdom - _ Total net realization sales creamery 17,444,689 116 5-442 19-177 butter f.o.b. New Zealand Less administration, interest, ad- 126,202 0 10-110 h nan vertising, cost of remittances, 0 ' 090 and general expenses Fl^ al tt aet realization sales creamery 17,318,487 115 7.332 12-387 Purchase cost under 1936-37 guaran- 17,702,800 118 2-118 19-RR9 teed price , D season n ° reamery butter ' 1936-37 384,313 2 6-786 0-275 * Allowed in terms of rules of London Provision Exchange.