STRIKE LOSSES.

Press, Volume LXIV, Issue 19451, 26 October 1928, Page 12

STRIKE LOSSES.

AUSTRALIAN CONDITIONS. PROSPECTS APPEAR SATIS-' FACTORY. Trading i.-: being adversely affected bj a strike of wharf labourers, which ha! inade it difficult to effect shipments anc caused an element of uncertainty, whicl tends to n-strict trade generally, statei the "Monthly Summary of Australian Conditions," issued by the National Bank of Australasia, Ltd. As we point' td out previously although these irritating transport strikes may not cause liny market reduction in total production, they check distribution, and by restriction or' transport activities along the Australian coast, injure all who depcud upon the coastal shipping facilities. Jt is expected that the" methods adopted by the Government and the shipowners will lead to an early, complete resumption of the services, and «nd the .strike. The trade depression, into which we «-ntered about a year ago, was expected to show some signs of lifting during the Spring 3eason. These expectations were based upon smaller spendings by both Government and private people, the strong financial position indicated by bank statements and stock exchange prices, and the excellent prospects for h large output of wool, wheat, butter, and other primary products. The weight of slowly moving stocks of manufactured and partly manufactured goods has been lightened during the year and imports have declined to well below the heights reached in previous periods, Indicating a growing local market for the products of the Australian factories. Unfortunately these expectations o£ better business have been deferred by delayed rains, which, however, have now substantially relieved the main agricultural districts, and by the temporary hold up of shipping. Though the wheat harvest prospects nrc much enhanced Ijy recent rains, there Jg, natnrallj', a feeling of uncertainty with regard to the yield, which may not be dispelled until nearer the harvest period. A large and good wool clip is assured, and butter production 5s far above the output for the early mouths of last year, while the outlook for most other forms of primary production is better than normal. Still, there is little sign of a growth in biiying demand, and the results of the season, in value as well as quantity, will need to be more assured before trado is likely to obtain the buying stimulus it needs. Western Australia.

Trade generally is well maintained, end collection of accounts is reported to be satisfactory. Rainfalls in the sou'-east have extended into the eastern and northern agricultural districts, and prospects of a good crop yield are reported to be bright. The area under frop is estimated at 4,000,000 acres, of which 3,500,000 acres is under wheat. A considerable area of this will be used for fodder. The advance made in cropping for wheat is indicated by an increase of 300,000 acres sown to that tereal since the previous season. Crop prospects generally are good, but th 6 eastern and south-eastern wheat "belt requires further general rains to produce a satisfactory croj).. The main concern felt is not with 'regard', to the «ire of the crop, but the probable prices obtainable when wheat is being delivered. In the pastoral areas, conditions varyconsiderably, the north-west coastal districts being in particularly good order. This applies also to the closer settled areas of the south-west, which have been favoured with abundant rams. Outside of those districts, most-of the, country is dry, but feed and water for stock are sufficient for. the time being, and. stock are in fair to. good order. An average lambing is reported. Railways report a rapid increase iri traffic, with the need for heavy expenditure to pr«jvide' for new works &nd . services, including 150 miles of new lines,now m course of construction, and other lipqs authorised by Parliament, but noli yet commenced. Wheat. ' Excellent soil conditions at the time of sowing, 'and a high "percentage, of. •termination, provided good .reasons for expecting a record -yield at the coming harvest. Since then the usual winter rains failea, or were well below the average over a great part of the wheat lands, and violent windstorms, dried the stored moisture i ' out of • the soil.These unfavourable, conditions have caused complete' / failure" of a large acreago in tho new north-west Mallee district of .Victoria, the northern wheat fields of South Australia, and the Western Biverina, New South Wales. Also thoy have caused some deterioration of the stand in some other districts, including the eastern and south-eastern wheat' areas of Western Australia. Notwithstanding those adverse factors, the crop on well-worked land, in the older wheat-growing districts, has made good growth, and, aided by substantial and widely-spread rains which fell about the end of September, should yield heavily, and with the harvest expected from the less-favoured districts, is likely to produce at least an average total production, - provided weather Conditions up to the time of stripping are not unduly adverse. The New South Wales wheat-growers have again expressed their unwillingness to hand control of the marketing of their produce to a marketing board. The ballot taken during the month shows that 7500 votes were cast in opposition to control and 6061 in favour of same. Under the relative Act of Parliament, a two-thirds majority in favour of pooling must be registered l>cforo the compulsory pool can be brought into effect. This is the second time the New South Wales farmers have rejected these proposals, and as the Victorian wheat-growers recently rejected a similar • proposal, it seems to bo clearly indicated that the wheatgrowers are opposed to any plan which would prevent them front selling their produce when and how they see fit. Wool. The difficulty of shipping purchases, due to the waterside workers' strike, led to some postponement of sales at the various centres, and caused temporary dislocation of the season's marketing. Arrangements have now been made for the resumption of selling, and it is felt that buyers will continue operating unless circumstances indicate fresh difficulties in making shipments. Prices have been affected downward, but competition at the Sydney sales held early in September was "well spread, and gopd clearances were made. 2n Brisbane, on September 11th, European and Japanese buyers competed freely for lots, but prices of good quality wool showed a decline of from <5 to 7{ per cent, on June rates. Quantities of wool coming forward are, so far, about on a par with those for the corresponding period of last year. Industrial Expansion. Comparison of recently-issued industrial statistics with those of 1016-17