TRADE WITH THE EAST

Press, Volume LIX, Issue 17812, 11 July 1923, Page 10

TRADE WITH THE EAST

MERCHANTS DISCUSS MATTER. LITTLE INTEREST SHOWN. To go into the question of how best to increase the trade of the Dominion with the East, a meeting of traders and manufacturers was held yesterday afternoon, Mr J. 0. Herdman presiding over a small attendance. A letter was received from the Association of New Zealand Chambers of Commerce with reference to the matter. The letter stated that the president (Mr H. W. Hudson), in conjunction with other interested people in Auckland, had been considering the proposal of sending a mission of business men bearing the imprimatur of the New Zealand Government to Java with exhibits of New Zealand produce and manufactures for the promotion of reciprocal trade. It had been suggested that the mission should consist of not more than three representative business men appointed and financed by the industries represented, one representative to have a knowledge of primary and agricultural produce, one to represent the manufacturing industries and one versed in the problem of distribution. Futher, it was proposed to ask the Government to appoint an officer of the Department of Industries and Commerce to precede or accompany the mission, the Government to bear its share of the exjjenses incurred. The executive of the Associated Chambers had been supplied with details of the proposal, and approved of the delegation and exhibits being sent. A study of the exjjorts made from the Commonwealth of Australia to this •market showed that the folio-vying commodities which were available in New Zealand were not included, for the reason that price would prevent competition. Primary produce included meat', butter, cheese, bacon, honey, and fruit. Manufactured goods included jams, pickles, biscuits, confectioner}', 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, sauce, leather goods, belting, travellin-j trunks, brushware, cordage, rope, shoe and metal polish, soap, stoves, light woollen blankets and rugs. Phosphatic and prepared manures were also in demand. The cost exclusive of salaries, of sending the mission with exhibits was estimated at between £2500 and £3OOO. It was proposed that the mission should show the exhibits in the four principal commercial centres —Samarang, Surahaya, Batavia, and Singapore. Members of the mission probably would visit other centres in Java during the Exhibition. The total export trade of Australia to the Dutch Ea3t Indies for the years 1917-18, and for 1921-22 was as follows:—1917-18, £1,194,466; 1921-22, £2,368,197. The exhibit of New Zealand produce and manufactures to be made in Java would probably follow the lines adopted by Mr Teppema in New Zealand last year. Recommendations would bo made by the mission for the appointment of suitable agents to act on behalf of New Zealand traders. The president of the Industrial Corporation of New Zealand, representatives of the farming community, and Mr Hudson, president of the Associated Chambers, were satisfied on the evidence placed before them that New Zealand had a great potential market in the East, and they supported the action proposed. The New Zealand Glue Company wrote stating that the proposal would not interest them, inasmuch as a representative from their Australian office visited Java regularly. The chairman said that, although copies of the letter just read had been sent out to a large number of local business people, the attendance showed that the scheme was not looked on with a great deal of interest. Mr D. Jones said the Meat Board had made enquiries from Australia, and found that there was not a large export trade done in Australian lamb, mutton, and beef with the East, and it had to be remembered that Australia had a regular shipping service with that part of the world. From July Ist, 1922, to June 15th, 1923, the Australian States had exported to the East 53,955 quarters of beef, 25,967 carcases of mutton, and 30,631 carcases of lamb. Mr A. Wilkinson said his firm (Andersons, Ltd.), had made enquiries about two years ago, and had learned that, while there was an opening for New Zealand goods in the East, the whole question depended on the freight charges. A motion was carried that, owing to the lack of interest shown by the meeting, it would not be advisable to take any action. CANTERBURY FROZEN MEAT COMPANY. At a meeting of the directors of the Canterbury Frozen Meat Company, an interim dividend of 3 per cent, on the preference, and 4 per cent, on the ordinary shares for the half-year was declared. MAHARAHARA COPPER MINE. The ""VToodville Examiner" understands that the Maharahara copper mine has been taken over by an American syndicate, and that it will be re-opened in the near future. Tha track to the mine through the bush is at present being cleared, and timber for the galleries has been taken forward. HORSES FOR TWO SHILLINGS. In spite oi the high price that is being| paid in the district for beef, the price of horse flesh is very cheap, says the Byron Bay correspondent of a Sydney paper. At a sale of horses Bt the Bangalow pound yards, five head were sold for 10s 6d, a fraction over 2s per head. One of the horses was shod all round, so the purchaser got the horse and shoes too, for less than the price of the shoes.

CANTERBURY MARKETS. | (bt ottr commercial, editob.) Tuesday Evening. The Tasmanian consignment of pota--1 toes has arrived in Auckland, but there is no definite word as to its size. One report is to the effect that it is under 100 tons, another that it is 300. Neither would influence the market to any extent. In any case there is a very keen enquiry from Auckland, apparently to cover this month's oversales. The potato market is in a very interesting position at present. No business is being done locally at under £8 per ton at country stations for whites. Tliere is no difference to report in other branches of produce. Most lines are firm, but this being the "off" season, there is little doing. The following are the quotations to be paid to farmers at country stations, sacks extra, unless otherwise stated:— Wheat—Tuscan 5s 2d, Hunters 5s 4d, Pearl 5s Gd. Oats—A and B grades 2s 7d. Chaff —Bright oatshcaf £4 15s, f.a.q. £4 to £4 ss. White Clover —Is to Is Id. Italian Ryegrass (nominal) —5s to 5s 6d per bushel. Perennial Ryegrass (nominal) —5s 9d per bushel. Cowgrass —lOd to Is. Potatoes —£7 15s to £8 (whites), £7 10s (Dakotas). Cocksfoot —4-Jd to 5Jd. Linseed —£17. Peas —7s 3d to 7s Gd. Flour—£ls 10s per ton. Pollard —£7 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. I ■ The entry at the Rangiora market yester- j day was poor, the yarding consisting- of only 139 sheep, 31 ca'ttle and 160 pigs. Fat wethers sold at £B3 6d to 355, fat ewes at 17s 3d to 265, store wethors at 25s 4d to 275, and failing mouth ewes in lamb at 3Js Id. Cattle —Springers made £5 10s to £ll, heiiers in ciuif £i to £6, and store cows 22s ed to 345. Pigs—Heavy baconers sold to £5 4s, light baconers £3 17s 6d to £4 15s,' porkers 55s to 655, large stores 37a 6d to 455, small 18s to 255, good weaners 19s, and small 10s to 14s. Poultry—Roosters to 12s a couple, hens 7b, and ducks 10s 6d. | Produce—Chickwheat 15s to 16s a sack, oats lcs, barley 12s, peas 203, oatsheaf chaff s:j to 6s 6d, straw chaff 2s fid, potatoes 14s to 17s, marrows 3s to 4s a dozen, swedeß ! 6s a sack, onions 2s 6d to 4s for 60lb bag, apples 3s to 5s a case. ASHBURTON MARKET. Tha entry of sheep at the Tinwald yards yesterday comprised »5 fat ewes, 210 wethers, one lam.b, aiid 974 stores. Of the fats, 14 ewes weiti passed at auction and 144 of the wethers. The Bales were:—• Ewes—l2 at 25s 3d, 13 at 29f1, 12 at 245, 12 at 28s Sd, 22 at 20s 3d, 10 at 24s H'd. Wethers —10 at 33s lid, 10 at 32s 3d, 11 at 35s Id, 12 at 34s 6d, 12 at 32s 9d, 11 at Sis - 7d. Stores —Out of the 974 yarded 24 wera passed at auction. The sales were:—4o four, six and eight-tooth halfbred forward wethers a't 28s 6d, 11 four, six and eight-tooth crossbred/ •ewes at 21s Id, 46 crossbred ewes at. 21s Id, 46 four and six-tooth forward half-' 1 bred wethers at Sis lid, 129 two-tooth crossbred ewes at 34s 9d, 46 crossbred wether hoggets at 243 Id, 150 sound and falling l mouth three-quarterbred ewes at 255, 55 sound and failing mouth crossbred ewes at 275, 200 sound and failing, mouth halfbred ewes at 25s sd, 50 sound and failing mouth halfbred ewes at 23s 7cL Cattle—There were no fats forward, and only a small yarding of stores, for which there was but a very limited demand. Cows in profit brought £4 15s, and yearling heifers 16s DUNEDIN WHEAT MARKET. (BJBCUL TO "TBI PMSB."} - ' DXJNEDIN, July 10. All the Otago flour mills in commission are working regularly full time, business being steady. Plenty of wheat ia coming to hand, but not many really good samples are available, and it is said that some of the northern millers are compelled to go on. grinding without having the admixture of the prime hard wheat that is desirable, and would be used if obtainable. As a consequence of the existing conditions, fowl wheat has jumped in value. FOREIGN EXCHANGE RATES. (BT CABLB —PBBSS ASSOCIATION —COPTMOBLT.) U.OSTBAIJAM AND X.Z. CABLE ASSOCIATION.) I LONDON, July 9. The exchange rates are as follows: •London on Par July 5 July 9 | Pal-is, Ir to £1 .. 25.225 75.60 78.80 Christiania, kr to £1 18.159 28.50 28.27 Copenhagen, kr to £1 18.159 26.52 26.10 Stockholm, kr to' £l-. 18.159 17.23 17.27 Berlin, marks to £1 20.25 895,000 1,825,000 Rome, lire to £1 .. 22.22J 105* 103* Montreal, dol. to £1 4.86 <T6&i 4.68 i New York, dol. to £1 4.86 4.554 4.66 3-16 Hong Kong, dol. to £1 * 27d 27Jd Yokohama, at. to yen 21.50 25Jd 2»Jd Calcutta, st. to rpe. 10 to gold £1 16Jd 16 8-16 d •Determined by price of silver. —— ' ! LONDON WOOL SALES. (BT CABLE —PRESS ASSOCIATION —COPTEIOHT.) (AUSTRALIAN AND 3T.Z. CABLE ASSOCIATION.} (Received July 10th, 8.10 p.m.) .LONDON, July 9. At the wool sales practically no .merinos were offered, but there was a good offering of average quality crossbreds. New Zealand sales concluded "Kaiwarra" 24d, Ugbrooke 2SJd, H.B.M.C. 25d. Owing to the dockers' strike, th© wool sales have been postponed till July 17th. BRADFORD TOPS MARKET. (Received July 10th, 8.10 pjn.) LONDON, .Tuiy 9. The Bradford market is very quiet with little enquiry. Crossbreds and merinos are stagnant. METALS. (Received July 10th, 9.50 p.m.) LONDON, July 9. Copper—Spot £65 13s, forward £65 13s 9d. Lead—Spot £24 2s 6d, forward £23 12s 6d. Spetter—Spot £2B 7s 6d, forward £2B 17s 6d. Tin—Spot £l£l 6s 9d, forward £lB2 13s 9cL Silver—3l£d per ounce. EGG AUCTION. Messrs Harris Bros, report that the usual weekly acution sale of Feather Brand guaranteed fresh eggs, on behalf of the Canterbury Egg Farmers' Co-operative Association, was held in their rooms, 158 Hereford street, yesterday afternoon. Owing to weather conditions supplies were shorter, and prices advanced. The demand was good, and all lot 3 offered were sold at the following prices: Hen eggs Ist gTade (2oz or over) Is lOd). Hen eggs 2nd grade (under 2oz) Is Bd. 6 LONDON WOOL SALES. Pyne, Gould, Guinness, Ltd., have received the following cablegram from their London brokers under date 9th inst:—"Sales postponed till July 17th, owing to strike at docks."