COMMERCIAL.

Press, Volume LIV, Issue 16325, 24 September 1918, Page 4

COMMERCIAL.

| (By Cable.—Press Association.—Copyright) B (Australian and X.Z. Cable Association.) L: BANK AMALGAMATION. LONDON, September 22. The Treasury baa sanctioned the National Bank of Australasia raising new capital in Great Britain in connexion with zz. amalgamation scheme. * LONDON MARKETS. LONDON, September 22. Rubber—Para, 2s 6d; plantation, 2s 3^<l; r.mokod, 2s 1-Jd. Hemp—The market is quiet. TIMBER EXPORT. BOARD OP TRADE RESTRICTIONS. It has been rumoured that the GrovemI ment 13 about to prohibit the export of Now | Zealand timbers to Australia, but a gentleman connected with tho industry informed a "Press" reporter yesterday that this is not so, steps lu-t- <iimpiy beir.j; taken by the Board of Trace to in the available quantities of white pine so that if th«To is a shortage of such for Dominion butter-bos making requirements steps can be taken to curtaij the expert. For this reason they are requesting the eawmillera to supply the following returns: — (a) The quantity of tho different Grades of white pine exported by them during the year ended July 31st, 1913. (b) The quantity and grades sold for use in New Zealand during' the year ended July 31st, 1018, giving names of users of over 50,000 equaie feet, and tho of others. (c) Hie quantity and grades in stock on July 81st, 1918. (d) The quantity and grades contracted for with sawmillcrs for the year ending July 31st, 1918. (e) Tho quantity and grades eold for delivery to New Zealand usors for the year endiae July 31st, 1913. It is otated that this action is tho result of tho butter-box makers complaining of a shortage airi consequent greatly increased price for butter boroc, though locally it is pointed out pinus insignia is being used just as satisfactorily. An explanatory memorandum prepared by tho president of the New Zealand SawmaiW.V Federation has been issued by the Board of Trade to sawmillers and other? "onnocted with the white pine timber industry in oonnesion with the matter. The Board require to know the probable output of all sawmills. Provision is wade to get over any adjustment or mutual agreement that may be found advisable to be mad:> between two ot more millers 60 as to provide that any miller agreeing >. to supply more than a fair share of timber for the NViv Zealand trado can. bo compensated by those millers who are permitted to export more than their fair ehare. It is not intended to impose any restriction's upon export with respect •to any particular miller until the minimum to be supplied to all I reserved for New Zealand requirements has beou fised. There is sufficient flexibility in ihe conditions to admit of the Board meeting any case where it may appear desirable that during certain periods the deliveries fixed for Now Zealand or to the export trad" ■should bo varied. In any such valuation tho Board will be guided by the needs "f tho industries affected, and an assurance is ?iven that that will bo exercisc-d to insure that no miller will be asked to hold stocks a fictitious local demand. Tit" fixing of priccs is not obligatory, and may probably be re-sorted to only in the event of any supplier demanding an abnormal price for any portion of the minimum amount lie is_ bound to supply to Now Zealand industries, or in the event of any user endeavouring to these regulations for the purocse of meeting supplies at less than fair ■ trado rates. if it is found necessary to so fix prices due regard will be given to all interests. While arranging that any New Zealand user of timber 6hall liave preference , of supply over export, tho Board may roTtrire to be satisfied that deliveries of such timber will be taken in conformity with established trade customs. The Board wish it to be distinctly understood that the object of tho regulations ie not to press unnecessary restrictions upon the timber industry, but, on the contrary, to ensure for it the maximum of freedom compatible with a due regard for the necessities of other industries.