COMMERCIAL.

Press, Volume LIX, Issue 17740, 17 April 1923, Page 10

COMMERCIAL.

AUCKLAND BOOT TRADE.

NO SLUMP IN BUSINESS,

(special to "the pbess.")

AUCKLANDj April 16.

A statement made by a member of the executive of the Canterbury Industrial Association last week, that one of the largest boot factories in Auckland bad been closed, and that fcheie Aas not an Auckland factory vwurig full tiuu', iipparoiitly was made on un reliable miormation. The alleged slackness in the boot trade was said to be due to the large impositions of English boots and shoes during December, January, and February. It was stated thai boots and shoes had been imported to the Dominion of a total value of £340,000. Mr H. Dearsley stated yesterday that jio factory in Auckland had been closed and that he knew of no unemployment locally in the industry. His own company was preparing for considerable extensions, which would double its capacity. Mr Dearsley said that during the last twelve months there had been, large importations of English boots and shoes. A great proportion l of these consisted of ladies' shoes, and local manufacturers who specialised in this class of goods had no doubt been affected by the heavy competition. As far as men's footwear was concerned, said the speaker, manufacturers in the Dominion could more than hold their own. A feature of the position in regard to the heavy importations from England, he added, was that those who bought the boots on indent, in certain cases had to be extended credit from the local manufacturers, while imports were paid for on sight. This was hardly fair to the local factories, who were producing a high grade article, which, they claimed, gave better value than imported gooda

The fears expressed in Ckristhurch regarding the likelihood of German boots capturing the Dominion market, when the embargo on German goods was removed, was also referred to Mr Dearsley. He expressed the opinion that local manufacturers would be thoroughly safeguarded by the restrictions placed by the Government on the importation of German goods.

PRICE OF BUTTER.

DROP m WHOLESALE PRICE. (special to "the ibkbs.") DUNEDIN, April 16. The -wholesale price of butter in New Zealand was reduced to-dav from Is yd to la 8d per lb. The price in London is reported to be Is 8d retail. The manager of a "local dairy company, asked why the price was less in London than in New Zealand, answered that tiie New Zealand companies had to make up for a fairly substantial loss which they suffered some months ago when butter, which was sold here at Is 5d per lb wholesale, realised Is cu on the London market:

According to the best information available the price now quoted in New Zealand will not oover the cost of the winter supplies of butter now in store. Consumers do not usually enjoy a drop in. butter prices at this time -of tue year'; it generally goes up in mid autumn. Last year at this date the wholesale price was Is 6d.

AUCKLAND STOCK EXCHANGE. (PBXSS ASSOCIATION TILEGBAItS.) AUCKLAND, April 16. Sales:—'War Loan, 1980, £97.103} Soldiers' &i per cent. Inscribed, '£loo 6a; Auckland Gas 6 par .cent. -Debenture, £9o} Farmers' Union Trading Debenture, £94} Bank of Isew Zeaj&nd, 695; Union Bank, 2S6a; tional 76b 6d; Auckland Gaa, 25s 6di; Auokknd Gas (contrib.), 25a 9d} Wilr gon'a 'iCament, Ssa 6d; Waiiti, 275. CLOSING QUOTATIONS.

Buyers. Sellere. £ e, d. £ 6. d. BANKS— Australasia 13 e 0 — tknimeroia-l M . >* 1 17 0 1 18 0 National .. •» 6 12 0 _ New South Wiale» .. 87 IS 0 New Zealand .. ,. 2 19 8 2 19 0 Union .. «• 14 7 6 14 10 0 INSURANCE— National mi m 8 16 6 8 17 6 New Zealand .. >• 1 8 6 1 9 0 South British .» 1 17 9 — Standard' ... ,*> 1 15 0 — FINANCIAL— • DaJgety and Co, .. 12 2 6 _. Golds brongh, Mort 2 4 8 — N.Z. and Eiver Plate >. 1 1 8 —. Loan and Mercantile ' ■ K> 0 0 Loan and Mercantile (pretf.) 75 0 0 — COAL-. 0 13 1 0 e 6 .►.. m Tnupiri ... m 1 1 0 Westport •«, .»• 1 18 0 — GAS— 6 Auckland .. » — 1 5 Auckland (oon.) 1 5 9 1 6 0 Gisborne. .. i»« 0 13 0 — SHIPPING— Devonport Ferry 1 6 8 ■ — Huddart-Parker •• 2 1 0 2 1 6 Northern Steam 0 14 0 0 14 8 Northern- Steam (con.) 0 6 9 0 7 0 P. and 0. (def.) 815 0 0 — TIMBER— 3 Kauri . • »« — 1 7 Layiand, O'Brien i.. 1 16 0 WOOLLEN— Kaia.poi - •• — 1 4> 0 Kaiapoi (10a paid 1 ) .. — 0 11 9 MISCELLANEOUS— : Abraham -ind Williams — 4 7 6 Auckland Trams 1 2 8 — Auckland Trama (pref.) 0 19 0 — Byeroft, Ltd. 1 0. 9 — Colonial Susrar (Aus.) 43 0 0 — Gear Meat Co. 2 0 0 — N.Z. Drug Co. 2 19 6 — Milno and Choyce Debontaro Stock — 1 8 8 Newton King (pref.) .. 0 17 S — N.Z. Express Co. — 0 16 6 N.Z. Express Co, (pref.) 0 14 6 Home Builders .. 0 14 6 >Xilk Producta 1 7 o N.Z. Refrigerating Co. (con.) .. .. 0 14 0 Wilson's Cement 1 5 6 1 6 0 MINING— Jtoanntaiari „ 0 2 10 0 8 6 Kamtita Keefa «. — 0 0 8 Huir's Reefs 1 7 6 iseiw Waiotahi — 0 0 8 Waihi 1 6 10 1 7 8 Grand Junction v. 0 7 6 0 7 8 DEBENTURES— Auckland Gas, 1932 .. — 92 0 0 Auckland/ Gna, 1928 .. 102 0 0 — Auckland Harbour 5J per cent. .. — 99 0 0 Auckland Harbour 6 per cent. — 105 0 0 Auckland Harbour 4i per cent. .. — 94 10 0 City of Auckland, 1913 99 0 0 — City of Auckland, 1936 " — 97 15 0 City of Auckland, 1929 — 93 0 0 Bycroft's. Ltd. — 93 0 0 Gisborne Sheepfarmers 100 0 0 — Mucky. Logan 100 0 0 5 — Mt. Edm Borough Farmers' Union Trading — 105 0 0 Co. 93 0 0 — War Loan, 1930 97 5 0 — War Loan, 1938 97 5 0 97 12—6 War Loan, 1939 97 5 0 — War Loan, 1927 97 10 0 — N.Z. Inscribed, 1927 .. 97 7 6 — N.Z. Inscribed, 1929 .. — 97 10 0 N.Z. Inscribed, 1933 ... 97 5 0 97 12 6 Soldiers' Bonds 100 12 6 101 5 0 Soldiers' Inscribed, 1933 100 15 O — Sale Reported—National Bank, £6 13s fid; Huddart-Parker (ordinary), £2 Is ; N;Z. Insurance, £1 8s 9a. Sale on 'Change—Bank of "New. Zealand, £2 183 3d (two parcels); Uinion* Bank, £14 te.