COMMERCIAL.

Press, Volume LVII, Issue 17104, 28 March 1921, Page 7

COMMERCIAL.

BUTTER AND CHEESE. {By Cable —Press A Motiation—GopjrrifM ) (Australian and N.Z. Cablo Aaaociatioa.} LONDON, March 26. Butter traders anticipate a fall of from 4d to 6d per pound in retail prices of imported butter when the free sale of Government stocks commences in April. Meanwhile Danish has hardened to 260s c.i.f. Owing to the good demand in the Midlands and the north, cheese is firm, but is likely to be easier with tlie arrival of four steamers from New Zealand next week, except for coloured, which is scarce.

(press association telegrak.) WELLINGTON, March 26. With reference to the control of butter and butter prices in Great Britain, tlie Prime Minister has received a cable from the High Commi6isoner, reading as follows: Butter: Ministry of Food announces that their control over import, distribution, and prices will be revoked 81st March, and that trade distribution up to 31st March will be last allotment of Government butter. Thereafter Ministry's stocks will be sold from store to approved first-hand buyers, who will be at liberty to sell to any customer without restriction. This revocation will render term 'Government butter' unnecessary, as public will be able to purchase according to type, quality, and price as in pre-control days.

* BANK OF ENGLAND.

LONDON, March 26.

Tlie directors of the Bank of England, pursuing their policy of widening the institution's sphere of influence, have nominated a Canadian banker, Mr Edward Robert Peacock, to the vacancy on the board. The city welcomes the nomination.

AN AUCKLAND LOAN.

LONDON, March 26. The underwriting has been arranged of the City of Auckland loan of £50,000 at 64 per cent., guaranteed by the Government of New Zealand.

INDIA'S FISCAL POLHTO

LONDON, March 26. The Hon. E. S. Montagu, Secretary of, State for India, replying to a deputation of Lancashire members of the House of Commons, protesting against the Indian Budget's increased duties on cotton goods, admitted that: he. was legally empowered to veto increases, but nothing would more endanger the grood relations between India nnd?G refit Britain than a belief that India's fiscal policy was dictated from Whitehall in Great Britain's interests. India must have the fiscal freedom that was promised her. He hoped Bhe would give the British Empire preference.

TIMBER PRICES,

fcOABD OF TBADE CONTROL.

New reguations are gazetted empowering the Board of Trade to control the sale of timber. Prices are to be according to lists issuefl by the Board, or in certain districts according to lists issued by specified sawmi!?ers' associations. The Board is authorised to issue license, subject to conditions, to persons to cariy on business as timber merchants.

No person other than a sawmiller or a person licensed as'a timber merchant shall, after two months from date, sell sawn timber (rimu, matai, totara. kahikatea, and kauri) in exefess or 500 superficial feet in the aggregate in any one year without the prior approve) of the Board of Trade.

No timber produced from indigenous trees shall be sold or offered for pale by public auction Bave with t)ie write ten authorised of the Board of Trade. The Board of Trade -may, with the prior approval of the Minister' in Charge of tho Timber Regulations, by resolution exempt from the operation of the Order-in-Council any kinds or clasßes of timber.

It ife an 'offence for any person to offer or give for thp-various grades of rimu, matai, totara, kahikatea, or kauri prices in excess of those fixed by the Order-in-Counoil. This does not apply to sales In pursuance of contracts in writing entered into prior to the date of the regulations provided that oertir fled copies of the contracts are filed with, the Board of Trade within thirty days.

JAPANESE SILK INDTJSTBY. (Bj Cable—Pirn Aeeocintifln— C<*p7»irtl.) (Australian and N.Z. Cable AesacUtlCTl.V • tokio; Match aa. • Tho Diet has authorised an advance p( three million yon to the Japanese silk industry, in order to overcame the depression, and maintain foreign markets. SYDNEY SHOtt. (By Ciible—Press Aesocia t km—Copyright.) (Australian and N.Z. Cable As;oeiiiti.-:i SYDNEY. March ?8.

The show attendar.oj was aflected by the heat, being 101,000-m compared with 110,030 in WJO. . At the show sales there were sold, on account .of the Carlyle Friq&iau Company, Balmerntah North, two Frisian heifers for 130g« and 144gs Four hundred guine** was paid' for the milking Shorthorn. Wl Guardsmen Parbalara, which was sold br Alexander Brothers, of Kiama, to the Scottish Australian Investment Company.

MIT MASSEY AND SHIPPING

FREIGHTS. (srBCIW) TO "THB PRfSS.") WELLINGTON. March 27. ThS Prime Minister hae had decoded the London cable message sent him regarding the offer of ships at Bluebook rates. The message does not propose to sell the chips to the Government, but is only a charter offer. Before negotiations could he entered intCL the Bluebook rates referred to would have to be frveatigated. Poesibly now that freight is scarce, and rates are dropping down, the companies would bo very glad to charter qn tho basis of Bluebook ratee.

COLD STORAGE OF APPLES.

OBSERVATIONS TO BE MADE. (special to "thb press.") NELSON, March 56

A few weeks ago cold store engineer! in the district formed an to further the interests of the work. It was felt thai something could be done by ouch an Associv tion in the way of improving the oo!dr»torago results. The Director of Jtha Cawttron Institute (Professor Eaaterfield) was waited upon, and he- promised 'to give engineers assistance in their work. The organisation of thi« year's work was left in Professor Eaateifield's hands, and hj» haa prepared cards for' the proper recording of the necessary details. This year's experiments will have reference to . Delicious and Stumer apples picked and stored under various conditions.

PrdfeßSor Easterfield ha* set out ths forms for gathering the information required. The first form to be filled in is as follows: Sender; name of apple; age of tree; date of picking; jconoition of orchard; when ploughed; whon disced; when harrowed; pruning, light or heavy lateral or spur; da'eg of spraying, sprays used; eerice number; name of Etoro; etatc of ripeness; date of despatch to store; case number. There will then be a ca:e labal setting forth the following:—Nam* of sender; aeries number; date of despatch; dates of examination- name of apple; case number; date »f placing in cold store.

, PRICE OF TOBACCO. Surprise that , the prioe of tobacoo has not vet fallen was expressed on Thursday by Mr 11. Copeland, Consul for the Ketnerl&ada, stationed at Auckland. He stated that the stores in Java were overstocked, end there was little demand. During th» first half of last year 9,640,000 kilos of Java and Madeira tobacco had been exported from Java, as compared with only 162,000 kitds in 1918, and 5,782,000 in, 1919. Tobao;o in Krossock grade was exported ixom Java mmr to

the extent of 43,683,000 kilos, •» against 2,800,000 in 1918, and 19,550,000 in 1919.

BRADFORD TOP& The latest cablo from Bradford Ttpoilis that the market tot tops is stagnant (says (ho "Sydney Stock and Station Journal" of 11th inst.). Ve give the lower comparison of quotations for tops from Juno last, a glanc> at which will show the remarkable f ill which has taken place. For instance, on June 10th Ws were selling at 13-1 and »-« nowquoted at 44d, 56's which were *e'linj at 80d on June 10th are now quoted at 28d, and 4fi's which mad® 3Sd in June are now at 17d. The compilation makes an interesting but rather depressing comparison:—

GENERAL NOTES. 1 The British pottery trade is in a healthy condition. Some of the new wares fired in up-to-date ovens recently installed are excellent in body and finish, and should lead to big business when the financial situation eaßes. There are some excellent lines in architectural pottery and faience, both g 1 zed aijd unglaied, and there is a more simplified pottern in some of the tiles njw beiii;* produced, although Dutch designs predominate, Many good new filters are being offered which certainly come up to German standard. Thj demand for lines mitabie for people living in flats is being, met by whole ranges of flatcovered stoneware jars, packable tier upon .tier. Many new desigjis ill useful sunduea, euch as egg-cups and nesting teapots, ate being prouuucu in large quuniuita, tlie lormer on mass-production lines. Standardisation is perceptib.e in' the jug and teapot brandies. .More supplied of toiletware are coming through, though its costliness in packing and shipping is leading some makers to reduce patterns. The new blight,' fresh, conventionalised motifß, with neater handles on dinnerware and fresh and ne'at border motifs on bath semi-porcelain ana china tea and dessert wire, should, according to the "British Trsds Review," do enquired about by dominion and United States buyers. Some of' the under-glaze decorated services are groat.y to be admired; though prices are still high. The plain printed ware now being extensively produced needs careful examination by nevr buyers, though this does not apply to th« well-known producers, in fancy pnd ornamental lines a number of firms are bringing out entirely new ranges of patterns and decorations, particularly noticeable in jardinieres, large vases, ana allied lines. Improved shapes are a feature of the latest high-grade ornpmeqtgl lineß, though the samo docs not hold gpod of the lover-grade modslp, " The tig 'industry throughout the world is under * cloud, remarks a Sydnpy exchangft past year a record 'price of £l2l per ton was attained, hut the London Quotation had fallen recently to £l4B. In Australia very few mines or alluvial tin properties are work. In New South Wales there Is only one sluicing concern still working in the New Epg'.and districts, where twelve months ■ ago hundreds of plants and a large army of men were busily employed. Other tin-pro-ducing centres of the State have bgtn similarly affected. The latest Sydney quotation for tin, baaed on *he London market, js 26s per unit, which is altogether too low for any Australian mine, but ah appreciably higher price is being pftid for tin to satisfy Iccal consumption, and even the latter prjci is tcp ?ow to ha payable for xpost mineß. '1 lie recent fall |n tin in England is not the reiwlt of excessive production, na is the case with some other metals, but has been brought about ■by abnormal industrial and l,r.\<ling conditions throughout the world, 'i'lio recent slump in American trade cut out cue of <Le best customers o ( f the tin, market.. Germany and Russia are'closed s? markets pinning Ml adjustment of international affo-.ts on a sound basjs. During the past few years Ito production of tin Ims shown a marked dadine despite high prices. The world's supplies are derived from Federated Malay Statoß. Siam, the Dutch n-ast Indies, Bplivia, Nigeria, Australia, and Cornwall, but tho Cornieh mines are practical'.y depleted. Ofj the above, the first three ■furnish about 69 ppr cent, of the fotal, while Bolivia furnishes apother 25 per cent., and Australia's share is about 5 per cent. In Siam and the Dutch islands the low price of tin has made oper* tioiis in most of t|ie mines unpayable. In (January, when tin was pver £2of) per ton, «11 wife minM in Western Sian hat} closed down. , Tho Government of the Federated Malay States, from December lost until & fortnight ago, purohosed all tin produced in its territory at considerably over the qiarket price. Latterly it was-paying £205 per ton, while thp London market was down to £l6O. Tho practice oi buying the tin production was" recently abandoned by the Malayan Government, and as a result most-of the mines of tho Malay Peninsula are now idle. The tin dredges can still operate at a profit, bnt their output does not "exceed 25 per cent, of the total output of tho East. Bolivia is also seriously sfiocted by the metal quotation, as the cot of production in Bolivia is higher than in the East, and Bolivian tin concentrates are not so gpod as those of the East. It is generally nxp£»ted thot when trade regains normal conditions th# full effect of curtailed production will- bo quickly felt, &nd will lead to i» sharp reaction.

C4's. 56'b. 50'S. 46's. Date. d. d. d. d. Tone 10 th 132 80 GO C8 June 17th .. Ill 77 57 ?6 July 1st .. 103 77 57 36 July 8th .. 302 74 56 35 July 15th .. .. 91 70 52 July 2?nd .. .. ro 69 52 35 July 2Sth .. 90 C9 .*a 26 August 5th .. .. 84 60 52 T5 August 12th .. 84 C? 52 35 Auguft 2Gth .. ll-2 61 50 £2 September 2nci 102 ■ £0 32 September 0th .. 102 50 32 Septemb?r 16th .. 93 fa 51 32 Septemb?r 0.1 rd .. S8 ■56 •,'8 31 September 'tSOtii .. 78 47 23 October 7th .. .. 78 P 29 S8 October 14th .. 70 52 46 October 23 tt .. 09 52 4-2 Octobsr 28th .. 63 53 42 27 November 4th .. CD 50 40 24 November iltii .. m 50 <8 40 M November 18th .. 60 37 24 November 25th .. 63 44 35 22 December 9th .. 48 44 36 23 December 16th 46 44 S3 22 January 8th .. ol 35 28 January 15th .. 51 January 22nd .. 54 January 27th 51 30 . 20 18 February 3rd 64 32 19 February 10th 52 .. 48 31 19 February 17th 30 26 174 February 21th .. 48 SO 26 17 j March 3rd .. .. 44 28 17