COMMERCIAL.

Press, Volume LIX, Issue 17806, 4 July 1923, Page 12

COMMERCIAL.

NOTES FROM WELLINGTON. tTROU A SS-ECIAI. COBRESPOSDEST.) WELLINGTON, July 3. The freezing companies of the North Island have practically cl6sed down for the season, and f.roin general accounts it has not been a favourable season, and balance-sheets to be issued during the second half of the year are likely to show a contraction in business and. iu some cases, serious losses. li> is alleges chat one company has dispensed with its staff, which means that operations will not be resumed until there is a change favourable to the concern, and chat another has appointed a committee to investigate its financial affairs. The position seems to be thac the freezing plant in the North Island is excessive. In the four years 19io to 1022 the flocks decreased by 4,132,33-3 head, and with this shortage the companies have not been able to work up to capacity or anywhere near it, hence the overhead charges are high a« compared with the turnover. At the opening of the season in November the outlook was promising and values were high, with a result that high prices were paid for mutton and iamb. The raising of retail prices in England checked consumption, and with supplies increasing values dropped, and it is believed that some heavy losses were made tnrough this. Lamb prices have varied very considerably, but on tiie whole prices have been favourable. The outlook at the moment is promising, and will remain good so long as retail prices are not raised to the point of checking consumption. SUGAR SUPPLIES. THE ALLEGED SHORTAGE. (ffPSCTAL TO "TUB P2139,") , WELLINGTON, July 3. While the. House in Committee of Supply was discussing the Customs duties alterations this evening, the Leader of tiie Opposition asked whether the sugar position had been examined. He had been told that there was a- serious shortage and that people were being refused supplies in the shops end it was expected that nest month the price would be put up considerably ihe suggestion was made to him that "he price might reach 6d. •The Minister, (the.. Hon. W. Downie btcwart) said that he understood that the supply of sugar during the jam wason was _ 5000 tons more than durin°that period last year, so that the total supply was greater than last year. He thought that private people were laying by" stores of sugar with the idea that the price would rise. Such people A °}"" So all round the stores, trying to _ R sugar. The statistics showed that -i™ 3 sl, PPly was greater than last "Ore must either be Increased "consumption or hoarding. Something was going on. /Hi * s '^ : there any chanco of the Government assisting th- bevt sugar industry. The Minister: That is a side i.-tsue at the present moment. Thb Minister said he had put tl o whole question before the Indtutries and Commerce Committee, which was now investigating, and he hoped they «ould» get a pronouncement from them m a week or ten days. Obviously the merchants were not hoarding beca-iae a? °£r,r n i )t fJIPP'y the demand. Mr Wilford: Who are hoarding, if the merchants are . not P Minister: It is suggested that private persons are. However, we hope ta make" a satisfactory ment. ■' \ 4 ~ COST OF LIVING. RETAIL PRICE STATISTICS. - The index number for the-three food groups as at May 15th was 1525, an ,increase of 9 points over that for the previous, month, and an increase of *2.52 per cent, over that for July, 1914 (states the "Abstract of Statistics" for June). v- - . The rise of 14 points in the grocer■s» group has been caused by an alljound ipcreass iu the price of potatoes. Sugar has also increased in price in several ininor towns. An increase of 33 points has been recorded, in the dairy-products group. In this group the price of milk has risen ■-in' several towns, the increase varying t'rora Id to 2d per quart. A further fall in the prices of beef joints has been responsible for the decrease of 15 points in the index number for the meat group. The latest available figures for the principal countries publishing statistics of retail prices of food are shown in the following table: — -.. / Comparison Increase between July per CormtrT- 10H, and cent. South Africa - Feb., 1923 17 United Stfttea March, 1523 33 • New Zealand May, 1923 43 ' Holland {Amsterdam) Jan., IMS 46 " Canada March, 1923 45 India (Bombay) April, 1923 50 A/uatraba April, 1923 52 Dnited . Kingdom . Alay, 1923 62 ; Sweden March, 1923 66 JJeutrwwk . Jan., 1923 g0 March, 1923 114 Franco (Paris) March, 1923 221 .Belgium March, 1923 389 Italv (Rome) Dec.. 1923 376 Finland Jan., 1923 980 Germany Mar., 1923 361,430 AUSTRALIAN BUTTER. CREAM TO BE PASTEURISED. . (■* CABli*-;PHZSa ASSOCIATION—COPTEIOBT.) UtfWMt.TtlT AXT> »,Z. CABLS ASSOCIATZOV.J MELBOURNE, July 3. j. The.Hon. Au3ten Chapman (Min- .: ister of Trade and Customs) explained tbat thc' Commonwealth was insisting ~on-butter: exporters manufacturing butter from pasteurised cream, because ■ Australia had the lowest average returns of the countries exporting creamery .butter. . To minimise hardships, exporters would b© given till January Siext to install pasteurisation plants. DUNEDIN EXHIBITION. (yasss association tileobam.) DUNEDIN, July 3. A meeting of the inner executive of the Exhibition Committee was held today. It was resolved that a prospectus be issued with a capital of £7S.UCO, and that the company be registered when £50,000 was subscritad. It na 3 an _ nounced that £30,000 had been subscribed, and provisional directors were elected. A NAPIER BREWERY SOLD. (PMW, ASSOCIATION TStEQBAM.) « m'i c Mffiß, July 3. Ine White Swan Brewery, at Napier, 'Am been sold to a Napier syndicate.

TRADE WITH THE EAST

PROPOSED COMMERCIAL MISSION. A GREAT POTENTIAL MARKET. From tiu- secretary of the Association of th>.- !<(■-.<: Zc-aiand Chambers of ComiiK-ive, M,- Yi. Aatiii Adiey (secretary of tii.' 1 :.-taterburr Chamber of Conimer-'ft; n>;nivt<l yesterday a copy of the eireuiar I'or-var.led to all the Oiiamb'T,-! in *::>• f.'oniiuicn on the subject of thij propose'! noinmereial mission to Java. At the meeting of the Council of the Canterbury Chamber on Momlay night a copy of tiie proposed circular whs read; tiie communication received yesterday by Mr Adiey is the final draft of the same document. The circular states that the president (Mr H. \V. Hudson; in conjunction with other interested organisations ill Auckland has been considering a proposal to send a mission of business men, bearing the imprimatur of the New Zealand Government to Java with exhibits of Xew Zealand produce and manufactures for the promotion of reciprocal trade. Tiie suggestion is that the mission should consist of not more than three representative business men appointed and financed by tiie industries represented, one representative to have a knowledge of primary and agricultural produce, one to represent the manufacturing industries, and one versed in the problems of distribution. It is also proposed to ask the Government to appoint an officer of the Department of Industries and Commerce to accompany the mission, the Government to bear its share of the expenses incurred. The executive of the Associated Chambers has been supplied with details of the proposal, and approves of the delegation and exhibits bei.rg sent. A study of the exports made from Australia to tiie Java market shows that the following commodities are 111 demand: (Other lines exported by Australia which are available in New Zealand, are not included for the reason that price would prevent competition) : Primary products: Meat, butter, cheese, bacon, honey, fruit. Manufactured goods: Jams, pickles, biscuits, confectionery, cereal foods, drugs and pharmaceutical preparations, gas and motor marine engines, canned fruit, preserved and powdered milk, phonographs, taps and dies, tinned and canned meats, sauces, leather goods (belting and travelling trunks especially), brushware, cordage and rope, shoe and metal polishes, soap, stoves, light woollen blankets and rugs. Phosphatic and prepared manures are also in large demand. The estimated eost (exclusive of salaries) of sending a mission with exhibits is between £2500 and £3OOO. It is proposed to visit and exhibit in the four chief commercial centres, Surabaya, Samarang, Batavia, and Singapore. The last-mentioned city, thougu not in Java, is within 36 hours' sail from Batavia. Singapore already offers a considerable market for New Zealand produce, and in view of tii-3 contemplated expenditure of £11,000,000 by the Imperial Government on a naval base, it is considered expedient to make a special investigation of the prospects this market offers to New Zealand generally. If the mission goes under Government auspices it will report to the Government upon the results so that its recommendations and conclusions may be made available to all traders and interested parties in the Dominion. Whilst in Australia and Java the mission will wait upon shipping companies now trading between Australia and the East to discuss the terms and conditions upon which regular sailings can be arranged between at least one New Zealand port and the East. It is proposed < that the collection of exhibits shall He supervised by the Department of Industries and Commerce: the Department has all the information, but would welcome the co-opera-tion of a small committee in each locality. In view of the success of the "group" system adopted in Australia it has been suggested that ultimately this method of trading should be adopted by New Zealand: it is proposed to leave this suggestion in abeyance until after the return of the delegation. The total export trade of Australia to the Dutch East Indies for the years 1917-18 and 1921-22, is as follows: — 1917.-18. 1921-22. & & 1,194,466 2,368)197 Out of a total of 2$ million pounds of tinned butter imported in. 1921 Australia supplied 2 million pounds. Accompanying the circular is a list of the names of the principal trades in Canterbury dealing in the commodities mentioned in the circular: the list is not claimed to be complete. If the Canterbury Chamber approves of the proposed mission, it is suggested that a meeting of those listed and others interested should be ' called to discuss, and if thought desirable, approve of the proposal. It is desired to organise the mission at once, in order that its visit can be made during the months of September, October, and November next. If the support accorded appears to be satisfactory it is intended to set up a central committee to act with the Department of Industries and Commerce in arranging details before the departure of the mission. The circular concludes:—"Any suggestions regarding the appointment of members of the mission will be welcome. It should be understood that the president of jthe Industrial Corporation of New Zealand, the representatives of the farming community already approached, and the president, Mr Hudson, are satisfied on the evidence placed before them that New Zealand has a great potential market in the East, and they support the course of action outlined herein, and commend the matter to the favourable consideration of your Chamber." It is probable that the Canterbury Chamber will take steps to convene a meeting of those interested in the proposition. 1 FARMING IN NEW SOUTH WALES. „ BRIGHTER PROSPECTS. i {BY CABLE —FBIS3 A9SOCIITIOH—COPIfcIOHT.) (▲rsraALtAH AJTD M.Z. OBLB association^ SYDNEY, July 3. Consequent on the late drought, followed by a strong demand for cattle and sheep for stocking up purposes as the result of the recent good rains in the pastoral areas, supplies at the Homebush saleyards are much below normal and generally of inferior quality. Prices are very high, and "the prices of meat are advancing proportionately. It is stated that, in view of the reassuring outlook created by the recent rains, large stocks of New South Wales wheat will now be available for export, and, in the event of additional rains rendering a good harvest certain, it is understood that of about 6,000,000 bushels held in stock by the voluntary Wheat Pool a large portion may be exported.

CANTERBURY MARKETS.

Tuesday Evening. Under the influence, of the heavy supplies of potatoes sent north during the past fortnight; the market has eased slightly as far as merchants' offers are concerned, but not so from die growers: standpoint. The latter are "sitting eight'' in the belief that values can move only one way. Little buying from farmers, therefore, is occurring. Tiie local belief in the future of the market is based on the fact that Tasmania as a source of supply is quit-j out of the market, and tiie entrance of America as a supplier, vine a is suggested from Auckland, is hardly tatcen seriously. ihe potatoes irnin there could scarcely arrive before iieptember, apart altogether from the matter of price. The luture of the market depends more on the 'extent to which Aucklanders have reduced consumption' unu.ir the nigh prices ruling than to any tiling else. Hie statistical figures as tar as Canterbury is concerned may. under tiie influence of blight and floods subsequent to the collection of the figures, be discounted at least at up to 15 per cent. Values '.juoted to farmers are lrom £7 Ids to £B. with few responding, for wintes, and iUs a ton lower for other sorts. Oats_ are very dull, and are quoted at 2s ~:1 to farmers. Chaff is also in dull demand. A good deal of f.n.q. <„s coming forward, lor which merchants will not offer more than £4 to £4 as. Good bright is worth £4 15s. Cowgrass and cocksfoot are both in keen enquiry, and the ryegrass market is [.articularly brisk. "Up to Is is being offered for cowgrass to farmers. The following an> th<: quotations to be paid to farmers at country- stations, sacks extra, unless otherwise stated:— Wheat—Tuscan 5s lid, Hunters os 3d, Pearl 5s 5Ad. Oats—A and B grades 2s 7d. Chaff—Bright oat-sheaf £4 15s, f.a.q. £4 to £4 os. Vi hite Clover—ls to Is Id. Italian Ryegrass (nominal) 5s to 53 6d per bushel. Perennial Ryegrass (nominal) —5s 9d per bushel. Cowgrass—lOd to Is. Potatoes—£7 15s to £8 (whites), £7 10s (Dakotas). Coolcjfo it —4-kl to ojd. ' Linseed—-£l7. Peas—7s 3d to 7s 6d. Flour—£ls 10s per ton. Pollard £/ per ton, f.0.b., main ports, 10s extra for smaller packing. Bran £5 per ton, f.0.b., main ports, 10s extra for smaller packing. RANGIORA MARKET. There waa a full attendance but a very #ma!l entry at the Rangiora Market yesterday, the total yarding being 674 sheep, of which 107 were fats, 31 head of cattle, and 55 pigs. The sales were 37 fat lambs at 203 9d, 8 at 22s 3d, 35 f&t wethers at 37s Id, 4 at 40a, 13 at 31s ICd, 5 fat ewes at 25s sd, and 3 at 255. Stores—-99 scrand-mouth ewes, in lamb ? " at 29a Id, 29 failing-mouth at 18s 6d, 41 at 18s, 58 forward wethers at 28s, SO at 2fls 6d, and 8 at 255. Cattle—Springers sold at £6 5s to £9, heifers £2 12a to £5, dry cows £1 5s to £3 17a and bulls £1 lis. , ' Pigs—A baconer at £4 10s fid, atorea 24a to 325, and weanera 24a to 32a. Poultry—Boosters to lis a couple, hens to 6a, and ducks to Bs. Produce—Chiokwhr.at 15s a sack, barley 133, grass seed 9a, oatsheaf chaff 6s, straw chaif 2s 6d, potatoes 17s, pig potatoes os, marrows 3a a dozen, parsnips 8s 6d a sack, carrota Gs, swedes Is for 50!b, cabbages 33 a cloren. apples -la to 6s a case, onions-2s 6d per 501'b bag. Sheepslrina—Crossbred 7a to 10s each, halfbred to 12a, hoggets 8s; wool crutchings 5d to 6<J lb, calf-skina 2s 6d to 3s, hides id lb, fat lid, horsehair 13 6d. ASHBtfRTON MARKET. The entry sheep at the Ashburton yards yesterday comprised 37 fat ewes, 79 wethers, 1954 lambs, and 423 stores. Extra prime ewes brought 27a 3d to 345, and meaiuni quality 173 4d to 21s 9d. Wether 3 brought 26a 9d to 34s 2d; Many of the lannb3 forward were of very inferior quality, and out of the total yarding of 1954 no fewer t-hau 1366. were . passed at auction. Those which-' were sold realised an all-round average .of just about lOd per lb. The principal sales were:— Ewei —7 at 17s 4d, 4 at 27a, 15 at 273 sd, 4 at 27s 3d, 2 at 345, 5 at 21s 9d. Wethers—lo at 34a 2d, 11 at 31s 3d, 17 at 26s Sd, 2 at 325. Lambs—l 4at 21s 6d, 52 at 28a 4d; 13 at 33s 6d. 56 at 31s, 16 at 28s 4d, 96 at 22s lOd, 94 at 22s 9d, 26 at 31a, 41 at 22s 7d, 30 at 29b. four and six-tooth and 2 failingrucruth crossbred ewes at 356 Gd, 77 soundaiouth three-quarterbred ewes at 35s Id, 121' mixed sex crossbred hoggets at 20s Bd, 10 ditto at 19s 2d, 57 full and failing-mouth Corriedale ewes at 28s. DAIRYING ON PENINSULA. As evidence of the- extent of the dairying industry on Banks Peninsula, the following figures, taken from the annual report of the South Island Dairy Association, may be of interest. They represent the output of the Peninsula factories for the year: Cheese. Crates. Barry's Bay Dairy Co. .. .. 5460 Le Bon's Bay Dairy Co. .. .. 1009 Little Akaloa Dairy Co. .. .. 1819 Okain's Bay Dairy Co. .. .. 3110 Bay Dairy Co. .. .. 1836 Wainui Dairy Co. .. 501; "Wairewa Dairy Co. .. .. 23-J1 Total ~v .. .. 14,166 Butter. Boxes. Akaroa Butter Co. .. .. .. 5104 Barry's Bay Dairy Co. .. :. 80 Okain's Bay Dairy Co. .: 126 Total .. .. .. 5310 WHEAT AND OATS. ■ fer. Returns of actual threshings received jo June 19th from threshing-mill owners show that, so far, 6,694,327 bushels of wheat and 8,825,111 bushels of o-ata have beerj threshed out. The average yields per acre in cases where -particulars of. areas were furnished (covering 99 per cent, of total threshings)work out at 32.91 bushels for wheat and 40.09 bushela for oats A table is appended showing, by land districts, the quantity of wheat and oats threshed and the yield per acre m each case. Wheat and Oats Threshings, Yields and Averages, January—May, 1923. Wheat Oats. 3 2 "0 "c '£B '£.£ -2"? ?„« -s"U ? 8 S fcfl Land District Sti S t< 52 ® o, 2 £ «x 02 ? £ > a Buah. Bueh. Bu3h. Bush. Auckland .. 2,793 31.39 800 29.63 Hawke's- Bay 22,326 25.03 24,410 33.27 Taranaki .. '1,332 22.20 4,927 33.98 Wellington .. 188,292 34.37 111,112 42.70 Nelson 20,580 22.72 17,721 25.10 j Marlborough . 89,127 33.45 26,981 33.80 * Canterbury .. 5,4158,€64 34.04 2,116,256 37.67 Otago •• 815,663 27.13 785,978 44.23 Southland .. 95,550 33.05* ■ 736,916 44.74 Totals .. 6,694,327 32.91 3,825,111 40.09 ' EGG AUCTION. Messrs Harris Bros, report an exceptionally large attendance at the weekly auction sale ! .of Feather brand guaranteed "fresh eggs, on behalf of the Canterbury Egg Farmers' Cooperative Association, which was held in I their rooms. 158 Hereford street, yesterday afternoon. The bidding was very brisk, aneJ all lots offered were quickly sold at the fol- . lowing prices:—Hon cgg3, first grade (2oz or 1q fVI <rn>do fiind<rr 7a fir? R