TRADE AND FINANCE.

Auckland Star, Volume LII, Issue 280, 24 November 1921, Page 6

TRADE AND FINANCE.

THE SHAREMARKET. BUSINESS DONE. XT THE 3.15 P.M. CALL YESTERDAY— Auckland Gas (cont.) £1/11/6 Auckland Trams (pref.) 16/ IT THE NOON CALL TO-DAY— Bank of New Zealand (£2/0/0) Waihi fl/1/6

GERMAN GOODS. NOW AD-VERTI'SEID IN iENG-LAND. It is well known now that German goods are again filtering into our markets, and a steadily increasing attempt by Germany to regair her pre-war trade in New Zealand is inevitable. If Germany is to fulfil her reparations she must secure a certain share of the world's markets. She cannot be excluded from trade and expected to pay 'both. With the return of German goods into this matket traders are asking for information, and an inquiry Into the position at -Home affords interesting thought for the trade and general public here. With the third anniversary of the termination of the war with Germany, many English trade journals have revised their policy, and are no longer refusing publication of advertising matter relative to German goods. With the English market now open to trade, the -British tradesmen have expressed their desire to 'have the fullest - knowledge of any lines coming on the market irrespective of country of origin, and as their customers demand cheapest value j combined with quality, even if goods are j German, then publishers have had to give way and are now accepting advertisements. J As long as goods from foreign countries were excluded from English markets, ad-1 Tertisements were not acceptable, -but now the embargo on German goods landing in (England has been removed, the traders lhave a right to- insist on 'being acquainted with these importations, and the easiest ■way to do this is by advertisement.

'Certain criticism Is bound to follow this decision, but to view the position broadly, it must be admitted that sooner or later advertisements must be accepted, seeing Germany has the right to trade, and to till to the full "extent their functions as trade Journals they must advertise tie wares on the market. It must be aTxparent to all ■that no trade journal can claim to be the orznn of the trade If it represents one section. The thin edge of the wedge has been inserted 'by some traders advertising ■German goods as Continental goods Publishers are very emphatic instating that the trade bave urged this matter on to them. Certainly a trade journal exists for ■the service it gives to the trade, and In ■buying that service the subscribers have a right to be kept lullj- informed of the latest lines, including <sernian goods. Naturally every Englishman prefers to Buy British goode. but economy is a natural right, and with lower wages in many trades, and much unemployment, the public give preference to lowest cost, providing always the quality Is equal. ■British manufacturers have "had a few years to try and compete with German goods, and some think fibat as long as an article is British it should sell, even if quality and prices are 'bad, but It is being found in the Dotted Kingdom that the sympathy of the public and Government measures are getting to be a thing of the vast, and best value largely control the demand.

VEGETABLE TALLOW. The manner in which the war has diverted trade from ordinary channels Is shown In the matter of the export of an article known as vegetable tallow from ■China. This is the product of a plant Iknown botanically as Stillingin seblfera i In China this tallow is mostly used In the ! manufacture of candles, but In Europe and the United States it is utilised to make stearine for soap. Prior to the war some 17.557 tons were exported, tile bulk of It going to the Netherlands, Germany and France. Since tie war this trade las *>e»n diverted to Great Britain, Italy, and the United States. The Chinese consumption of vegetable tallow is about equal to the foreign export. CLOVE OIL. The "Indian and Eastern Druggist" reports that investigations are being made in Japan as to the possibility of producing clore oil on an economic scale from the discarded stems of the bTids. Zanzibar now supplies the world's requirements for cloves, but the tree was not introduced there until iSOO. Prior to that the clove had been introduced by the French into Mauritius in ■1770. Going further back, the Chinese report that 2000 years ago it was customary for officers of the court of China to chew cloves .prior to addressing, the Emperor. In the sixth century, Ceylon imported clovee from China. LOCAL TOBIACCO INDUSTRY. One of the difficulties arising out of the new tariff is the effect It may have on the local tobacco industry. Formerly the duty on New Zealand grown tobacco stood at one shilling per pound. Under the new tariff the rate is raised to 2/6, an increase in duty of 150 per cent, which is rather a stiff hurdle to be faced. Last year some 18 acres of tobacco were grown in the Rirerhead district, and arrangements were made to put down 53 acres tnls season 'before the new tariff was announced. A deputation of those interested visited Wellington to see if it was possible to have the duty left at one shilling per pound in order that the local tobacco industry should aot be hampered, in its development. MUTTOK AND LAiMB. The Farmers' Co-operative Auctioneering Co., Ltd., Hamilton, have received the following cal>le from their 'London office:— hMutton and lamb values have declined. Expect price to decline further. Large supply of fresh killed meat. Tallow market Is dull, with downward tendency. Oats: Demand and prices are improved slightly.

JANKS— Sellers. Buyers. National 5.15/0 .. 5/13/0 New Zealand 2/9/3 .. 2/S/9 Union of Australia... 12/0/0 .. — Union Aus 145/ paid). 4/12/6 .. — INSURANCE— National — .. 2/17/0 New Zealand 1/8/9 .. 1/S/0 South British 1/15/0 .. 1/14/3 FINANCIALN.Z. and River Plate — .. 17/0 Loan and -Mercantile — .. SO/10/0 COAL— Hlkurangl 10/6 .. — Northern — •• °/ 4 Taupiri 1"/<J .. — Westport — . ■ 1/0/3 Westport Stocktou 7/3 .. 0/3 GAS— Auckland (p.u.) 1/3/9 .. 1/3/3 Auckland (cont.) 1/12/0 .. — SHIPPING— Devonport Ferry V-VS .. l/l/O Huddart Parker (ord.) 2/4/9 .. 2/3/9 Northern Steam cp.u.) 14/0 .. — Northern Steam (cont) — .. 6/0 Union Steam (pref) 19/3 .. IS/9 TIMBER— Bartholomew Timber 1/0/0 .. — Kauri Timber — .. 1/5/4 L.O'B. Timber — -. 1/9/6 Parker, Lamb 1/7/0 .. — WOOLLEN— Kaiapoi (10/) — .. 12/0 MISCELLANEOUS— Auckland Trams .... 15/3 .. 14/9 Auckland Trams (pref) — .. 13/6 Byeroft, Ltd 1/0/0 .. — Colonial Sugar (Fiji). 9/19/0 .. — Farmers' Auc — .. 3/15/0 Farmers' Auc. (pref) — .. 16/9 Hill and Plummer 1/1/0 .. — Merediths, Ltd. 10/0 .. — Theatre Arcade (ord.) — .. 1/5/0 Theatre, Arcade (pref) — .. 16/9 Milne, Choyce (ord.).. — .. 1/0/0 Milne, Choyce (deb.). 1/1/0 .. 1/0/0 New Zealand Drug... 2/13/0 .. 2/12/0 N.Z. Paper Mills 1/3/0 .. — N'.Z. Refrig. (cont.)... 15/9 .. 14/6 Northern Boot — .. 18/6 Parengn Oil 11/6 .. 10/3 Parenga Oil (cont.)... S/0 .. 5/0 Sharland and Co. ... — .. 19/6 Takapuna Trams 12/0 .. 9/0 Thames Theatre — .. 12/0 Tomson Garlick IB/9 .. — Union Oil 1/6/0 .. — Wilsons Cement 15/10 .. 15/6 MINING STOCKS— Hauraki Reefs 0/3 .. 0/1 Koinata Reefs — .. 0/1 Ohinemnri Mines 3/11 .. 3/0 Waihi 1/1/6 .. 1/1/3 Waihi Grand Junction S/10 .. 8/9 DEBENTURES— N.Z. War, 1930, 4} p.c. — .. 89/10/0 N.Z. War, 1939, 4J p.c. 85/15/0 .. - N.Z. War, 1927, 5 p.c. — .. 91/0/0 N.Z. Ins., 1927, 5 p.c. — .. 91/0/0 N.Z. Ins., 1939, 4$ p.c. S5/15/0 .. — Soldiers' Loan, Si p.c. 92/10/0 .. 92/2/6 Soldiers' Loan, Ins., 5i 92/7/6 .. 92/0/0