TRADE AT HOME.

Press, Volume LXII, Issue 18675, 26 April 1926, Page 10

TRADE AT HOME.

A SUMMARY. r\, . • / . » : BIG APPLE SUPPLIES. dairy control criticised. (BT cms -PRESS ASSOCIATION—COPYRIGHT.) (AUSTRALIA!! AlfD X.S. , CABLE ASSOCIATION.) (Received April 25th, 5.5 p.m.) LONDON, April 24. The shadow of the coal crisis is still over the Stock Exchange, with the result that the business is small, but the markets closed with a slightly more hopeful feeling on the expectation that the Government's intervention may lead to a favourable settlement. The reduction of l the New York bank rate from 4 to 3|. per cent., also-had a good effect, as, it encouraged the hope of easier money in New York, which would lead to America buying British securities, which would mean an 'influx of gold here, and in due course a reduction of the bank rate. Gilt-edged stocks remain firm, and it is satisfactory to note that the recent New South Wales loan is at last improving,. being now at. a.22s ,6d discount, compared wjth over 30s a fortnight ago. ■ Wool traders ,do not expect any great change in values at wool sales, which are opening on Tuesday. A good demand is anticipated from the Continent, hilt Yorkshire buyers may not be so active. 'According to Bradford advices, merinos are generally considered to be. . in a strong .position, and no relief is anticipated in this section., Most quality crossbred tops are 'cheaper than when ,the last sales closed, but are not relatively cheaper than the raw itaaterial; consequently it would need a decline at the sales to bring wool into line with Bradford, but no one is confident about this taking place. . ' . The Australian and New Zealand aprile trade is still unsatisfactory, as will have been gathered, from prices

already cabled. The main reason is 'the continued competition of American New Towns, which, in the'words of a ' trade newspaper, undoubtedly show the best value even against fresh arrivals of Australian and Tasmanian shipments. It is unfortunate that the quality of many of the Australian and\Tasmariian consignments leaves much to'be desired. Bitter-pit is'preralent in many varieties, while others are small and immature. There is a good demand for best sorts of West Australian, South Anstraljan, and New Zealand, but others are -difficult to'sell. Retailers are fully aware that supplies ■will Be heavy, during the next •two). months, ' the . fact that , exports 'from Nefa Zealand and Australia are expected to exceed 3.000,000 cases haying been .proclaimed by the newspapers throughout the country; consequently the retailers <are' sure they will be'able to get all they want; and are therefore 'only buying from hand to mouth. At present prices ;they are able to retail cooking srtrts atfourppnce per pound, and desserts at sixpence. . These cheap prices should . certainly stimulate public ton-f sumption and importers are hoping that the demand will improve. The newspaper, "Economist," in a purvey of trade, says: "If it were not for .the shadow of A possible stoppage in the'coal industry, the industrial outlook would. be distinctly promising. Employment is better than it was a year S>, and the seasonal—. improvement ich -failed to occur last spring has already affected in a favourable direction most 'indices of trade activity. Most' industries report greater activity ,*nd an increased volume of orders. This improvement is recorded in m»st of the textile industries, except cotton and in ' miscellaneous trades, such as potatory, boots and. shoes,, cnemicals, clothing industries, and, electrical- trades, bp in the erigineering trade the .fear of wa.ges trouble, has begun to check' the Tolume of production." * • The newspaper, the,"Grocer," in an article strongly .criticises the declared policy of the New Zealand Dairy Produce' Control' Board". ,The paper says'!. "Already, the nsere knowledge that -absolute control' is. contemplated has undoubtedly done the New Zealand dairy industry considerable harm in the United Kingdom. ! It is fairly safe to' sav that the trade in ' England, not only 'believes .tha.t the proposed control is inimical to the best interests of the New Zealand dairy industry, but it is , extremely distasteful to English methods of doing business. It is the general opinion that New Zealand butter does, not enjoy the same : popularity as in.recent years.. The reasons are not far to seek, and we venture to advise the friends of New Zealand that instead of antagonising the buyers in this country, they should do their utmost possible to retain their goodwill, especially in view* of the keen competition or Denmark and other Continental .countries, Siberia', • and teeland, which are all striving; their utmost to cater for the requirements of t trade without restrictions to interfete in. any way-with this laws of supply and demand and of free marketing. BURNS PHILP (SOUTH SEA) CO., ! ; , LIMITED. ' The kaima] report of' Bijrni, Phijp (South Sea) Company, Ltd., shows a net profit of £60,805 for the period ended December 31st. ,Thi« compares with- a profit .of £51,278 the previous year. A dividend of la 4d a share, •qua] to 6 2-3 per cent., is recommended; a 'Ruin of 110,000 ia carried to reserve fund, ■making that fund 140,000, and *BB3I ia car. ii«d forward, »g*inst £8025 brought into 'the • account. A' comparison of profits, appropriations, an( j 0 f balance-sheet figures over three periodv follows: > , ; Year ended Dec. 81st, ' IMS. '1924. ' 1925: J»et profit <£37,791 £51,273 £60,803 Dividend, p.e. .. 5 6J • 6| Amount of dividend 37,500 46,875 50 000 To reserve ... 5,000 « t OQO. .Carried forward .. 8,627 8,025 8,881 LIABILITIES- ■ .' Capital .. 750,000 750,000 750,000 < Beserve Fund .. 30,000 35,000 30,000 Creditors .. 57,057 101,378 196,894 ASSETS—- . Cash . .... 28,083 37,161 36,144 , Properties . and ■ 'shipping . 190,746 194,935 240,729 Produce in transit 853,649 434,461 483,687 Merchandise .. 179,664 147,787. 148,198 - Debtors 126,147 121,928 136,955 The report states that trade at the islands was .steadily' maintained, resulting in a satisfactory turnover in merchandise, produes, -;afld other business. Further trading .stations, .were established, and the freehold .island, at Nassau, which ia fully planted with cooohnt«, »a« : purchased. SALE OF FURNITURE. " WH. .C. Smith, of the City Market, aonan auction sale on account' of Mr* A. ■ ; Jj/ 'Sfiper at No. 8 Travers street, Linwood. ■ pricea were obtained: —7: piece oak -sideboard £lO, oak wardroße £7 55,-double bed £5 ss, w su lino- ss, cot I-* - »£6, aettee £3 'St, rug 35a, l»" i chairs £3, dinner «BS>, /rinjU'