H.—3o.

PRIMARY PRODUCTS MARKETING DEPARTMENT—continued. DAIRY-PRODUCE EXPORT DlVlSlON—continued. CREAMERY BUTTER. Puechase and Sale Account, 1937-38 Season. Shipments for which Complete Sale Proceeds have been received at 31st July, 1938. Dr. £ Or. £ £ Purchase of 3,715,531 boxes .. .. .. 11,896,254 Sale of 3,715,531 boxes (less United Balance carried forward (surplus on 3,715,531 boxes) 338,461 Kingdom selling-charges, including landing-charges, agents' commission, discount, and storage) .. .. 12,907,905 Less — £ Freight .. .. 648,405 Insurance .. .. 24,785 673,190 12,234,715 £12,234,715 £12,234,715 Shipments for which only Partial Sale Proceeds have been received at 31st July, 1938. Dr. £ Gr. £ Purchase of 1,392,120 boxes .. .. .. 4,461,040 Balance brought forward (surplus on Balance carried forward (estimated surplus on 3,715,531 boxes) .. .. .. .. 338,461 5,107,651 boxes) .. .. .. .. 625,948 Sale of 790,595 boxes (less United Kingdom selling - charges, including landingcharges, agents' commission, discount, £ and storage) .. .. .. 2,875,915 Estimated sale value of 601,525 boxes in store, United Kingdom or afloat, at 31st July, 1938 (basis of valuation, 120s. per hundredweight sterling, less United Kingdom selling-charges) .. 2,136,897 Total boxes, 1,392,120 .. .. 5,012,812 Less — £ Freight .. .. ..253,932 Insurance .. .. 10,353 264,285 4,748,527 £5,086,988 £5,086,988 Stocks in Store in New Zealand awaiting Shipment at 31st July, 1938. Dr. £ Gr. £ Purchase value of 393,113 boxes .. .. .. 1,245,438 Balance brought forward (estimated surplus Balance carried forward (estimated surplus on 5,500,764 on 5,107,651 boxes) .. .. .. .. 625,948 boxes), (137,541 tons 16 cwt.) .. .. .. 588,062 Estimated sale value of 393,113 boxes (basis of valuation, 110s. per hundredweight sterling, less United Kingdom £ selling-charges) .. .. .. 1,280,807 Less— £ Freight .. .. .. 70,836 Insurance .. .. 2,419 73,255 1,207,552 Total boxes, 5,500,764 (137,541 tons 16 cwt.) £1,833,500 £1,833,500 £ £ Proportion of administration and general expenses .. 144,664 Balance brought forward .. .. 588,062 Balance to Dairy Industry Account (estimated surplus on sale of croamery butter) .. .. .. 443,398 £588,062 £588,062 (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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