DIFFICULT YEAR

Ashburton Guardian, Volume 60, Issue 132, 15 March 1940, Page 3

DIFFICULT YEAR

TRADING WAS NOT EASY. COMMERCE CHAMBER VIEW. “Trading conditions over the year have not been easy,” said the president of the Ashburton Chamber of Commerce (Mr G. A. Gilchrist) in his statement to the annual meeting of members last evening. . . “Internal prices have shown a rising tendency, while prices for exports have been in the main lower. Foi the Ijj months ended on June 30, export values wore £57,851,312, as compared with £61,919,913 for the previous year, a decrease of £4,068,607. This is accounted for in the main by the heavy falling-off in dairy production, both in quantity and value. Wool accounted for 900,585 bales valued at £12,899,228. or 22.37 per cent, of the total exports. The total value of all classes of meat exported was £14,369,020, a decrease of £1,076,739. Butter exports were valued at £15,833,843.” ' Mr Gilchrist went on to refer to comparisons in values of production, and went on to say that the decrease in the London funds held by the Reserve Bank and the trading banks continues, and the Government adopted the course of imposing restrictions on imports and on the transfer ot monies from New Zealand. As retailers carried fairly heavy stocks, the effect of these restrictions were not immediately felt by them. Manufacturers, as well as other importers, found difficulty in arranging for necessary supplies through being unable to arrange for payments overseas. Then came the war; and with it naturally further difficulty in regard to supplies from overseas. The .Government had taken full powers to control the Reserve Bank and had negotiated with the United Kingdom Government for the purchase of surplus exportable produce for the duration of the war. The desire of the Government for increased production in both primary and secondary industries apparently did not extend to the waiving of the 40-hour week, even as a war measure. The Government had promised an amendment to the taxation Acts and had also indicated that it would give the Chambers of Commerce and other interested bodies ,an opportunity to he heard before the amending Bill became law. This, liowevex - , was not done. There seemed to be a reluctance to discuss the Onekaka iron and steel works, a project that had been held up by war conditions. Other public works would no doubt be postponed for similar reasons.

Mr Gilchrist also referred to the new departure in the appointment of Mr A. Tyxrdall as a Judge of the Arbitration Court. It was a. matter for congratulation that the Government had at last decided on action in regard to existing conditions at the ports. Concluding, the speaker appealed for a greater measure of interest in the work of the. Chamber in the difficult times that were being faced.

It was decided that the election of officers should bo held over till a later meeting.

With the object of inducing more business men to join the Chamber, it was decided that a membership campaign should ho opened, and that .Mr W. McGibbon, of Christchurch, president of the Associated Chambers of Commex-ce, be asked to address a meeting in Ashburton on April 11 or 18.

The financial statemeixt showed that there, was a credit balance of £27 Bs.