FINANCE AND COMMERCE.

Press, Volume LXV, Issue 19812, 27 December 1929, Page 10

FINANCE AND COMMERCE.

N.Z. MASTER GROCERS

ANNUAL CONFERENCE IN CHRISTCHURCH. The Zealand Mas'-'-r Giocers' Federation • ill be Lett '.n Cbristcaurcb lrcm Jacaaiv li:h to January 17m. 1 *ar*us mecunss v-'ill be held in the Chamber -.,; f oinu;ercc Hall, and in addition u.en V.>rs will b, tnienainco Mciallv by the local A-,oci*uon. l.an«fbu;v M.-t- Crocks Assoc alion ha* !-e.-P a-i.tca v...y materia !y by local ra.in;it:.ofire:'i and *holexi:3 f ,n„,cn. t t!, delegates will viii: the lactone- c: Messrs tdmonds. Ltd., Davis fVZ.), ltd \'!,eb—k>. Ltd.. Messrs Kuriti ties' 1.-d.. tnd the New Zealand Eetrigeratir.g Company's work-; at isLnzton. On January cates wiii be entertained by the >ugaet Polish Company to a motor drive over the C'a-hPjerc Hills. On the 16th member- will be entertained at_ a conversazione, serial, and dance, pi Ten by Messrs ber, Humphrey, and tompanv, and on the 17th ill be "i----tertamed at a luncheon by the W holetth'Ts' A'scniation. In addition to vLsiuns the factories mentioned the delegates will be entertained by the companies coneerned to nfternoon teas, luncheon?, etc. The Soap and Candle Company »xe providing the conference with a •ouvenir programme. The fallowing firms have also helped in a practical manner, and thus have lessened the burden which would have otherwise fallen entirely on the members of the local Association:—Messrs H. F. Stevens, Ltd., Hayward Bros., Ltd., Tai Tapu Dairy Co., Ltd., Central Co-op. Dairy Co., Ltd., D. H. Brown and Sin, Ltd.. Pioneer Manufacturing Co., Aulsebrook and Co., Ltd., Vacuum Oil Co.. Ltd., Kempthorne. Prosser, and Co., Langdown and Son, Ltd., and Fleming and Co., Ltd. The lo<-aI members are doing 3li m their power to make the stay of the visitors both interesting and helpful. THE SOUL IN .BUSINESS. "Von may introduce machinery by the ton, you may advertise by the mile, you may develop sales management to the last degree, but these things are of no permanent value unless the soul remains as part and parcel of industrial organisation,"' said Mr W. Buchanan-Taylor, publicity and advertising manager of J. Lyons and Co., Ltd., in an address at the Watford (London) Labour Church on "The Soul in Business." Mr Buchanan-Taylor spoke of the possibilities of advertising in promoting world peace, and said that treaties must be in the hearts of the people, and did not ii« in laboured tomes of verbiage and archaic legal phrases. "An instrument that can have the greatest influence in developing intercourse between the peoples of the world," said the speaker, "is this business of advertising." Repetition ■was the only means of making anything sink into the rather hard cranium of the average Englishman. Only by constantly repeating the word '"jam" was Mr Tickler's name ever placed on the scroll of fame. Advertising meant increased competition, and the more competitive advertising there was the keener would be the marketing competition. Competition made for greater production and, therefore, increased sales. It increased the desire to buy, and consequently encouraged quicker turnover, and the larger turnover meant the multiplication of labour, and this increase in sales made it possible for the honest manufacturer to cut his margin of profit, or alternatively to give better quality for the money.

The welfare idea, said Mr IJuchananTaylor, was growing in Great Britain. Tv"elfare as practised by industrial fcrms was not merely a palliative, it mas a thorough attempt to solve the relations between canital and labour. The Government having failed to put the House of Industry in order, it fthould be placed to the credit of certain firms that they had gone ahead with their schemes for the benefit of the worker. The amicable getting together of the human elements in industry would make for human betterment, for more healthy and efficient workers, and more contented workers, the greatest assef of all. WOOLLEN INDUSTRY. RESEARCH WORK SCHEME. tIJCTTXD PBK34 ASSOCIATION' —BT ELECTRIC TELXGKATB—COPYRIGHT.) LONDON. December 25. The report of the British Research Association on the woollen and worsted industries suggests that the Dominion wool producers should contribute £25,000 towards research work, which should he directed to the standardisation of the best quality and aiding the marketing of wool, the superiority of Which as a textile is undeniable. Special investigations were needed %nder three heads:— (1) The development of new proMessrs and methods of manipulation. (2) Experiments on nutrition, as fciese have alreadv shown the possibility of the production of mutton and fine woo] on the same sheep. (3> Research into the scientific lealth value of wool fibres. The trouble is the limited financial resources of the Research Association, which is now spending £25,000 yearly, therefore the Association suggests that .the producing side of the industry should contribute ;m equivalent amount. NEW SOUTH WALES WOOL. FURTHER SHRINKAGE FORECASTED. As a result of continued dry weather conditions in the western portion of New South Wales. Wiacbcombe. Carson. Limited. is of opinion that next season's clip of that State will probably show a greater decrease than the clip for this season. Since shearing large numbers of sheep have been lost, and expensive hand-feeding ot stock is not being practised to the same extent as in former droughty r*riods. Owners of flocks which have taken years to breed to a hish at&udard will no: allow their sh«"»y> to die, but many landholders consider that artificial feedioc of the ordinary run stock is Sot warranted by the returns for woo! uow •Tailable. In the circumstarces larpe losses feire been suffered, and further numbers of aheep will die unless the drought breaks promptly. If your hay was cut before the rain it is now beaten down. It won't cure like thac. The machine that will lift it and allow the air to penetrate and cure it properly is the McCormickDeering Side Delivery Rake and Tedder. Tliis dual purpose machine can he used as cither a Tedder to turn the hav. or a< a Rake to rake the hay into large airy windrows Call and inspect at our showroom. 187-189 Caahel street. Christchurch. INTERNATIONAL HARVESTER COMPANY OF NEW ZEALAND. LIMITED. —6

I FLOUR AND WHEAT. * carry-over to next year. j The publication of the stocks of flour j ] and wheat as at November 30th allows ! an estimate to be made of the probable ■•arry-over into next wheat year. The following is the comparison with last season to November 30th: — ;' If'iS IP 29 J Flour, tom .. 11.357 10,532 I Wheat, bushels .. 3,060.243 0,i26,571 j Reducing flour to bushelage equivaI lent, the foregoing represents:—l92B, I 3,551.470 bushels; 1929, 3,932.107 bushels. I The needs of the final quarter of the wheat year (to February 2Sth) may be averaged, on the consumption of 1928, at 2} million bushels, which would leave a carry-over to 1930 of 1,682,107 bushels in wheat and flour, compared, on a simiiar basis of calculation, with 1.331.147 bushels as at February 28th, 1929. However, the yield of the incoming r-rop is likely to far more than offset the heavier carry-over of the current year in comparison with last. The area is 23,373 acres less, and the average yield over-all is put down by a number of observers at 30 bushels, compared -with 34.60 last year. This would give a yield approximately 7,060,000 bushels, and with the carry-over of 1,682,107 bushels, a total of 8,742,107 bushels. Importations of wh«at and flour have ranged about 700,000 bushels. The stabilised duty may be expected to reduce this source of iupply, but at 600,000 bushels the gross supplies for the year would amount to 9,342,000 bushels. The consumption may be set down at nine million bushels, which would leave the moderate carry-over of something like 300,000 bushels with which to enter the 1931 season. These figures pre-suppose a yield over the whole Dominion of 31 bushels to the acre, which may be regarded as over rather than under the probabilities. The opinion of a South Canterbury merchant practically confirms the above. A 30 bushel production is made by several engaged in the trade. If they are right, and the imports of wheat and flour are on the same basis as those for the past year, they say that there should be a surplus (including the last carry-over) on February 28th, 1931, of about 350,000 bushels. The opinion is expressed in some quarters that the estimate of 30 bushels is inclined to be optimistic. In different parts the wheat is muck thinner than it has been for some years, and there will not be many of the very heavy yields of the last three years. FROZEN MEAT. EXPORT AND STOCKS. Killings for export at all works during 1929-30, commencing October Ist, U'29, to December loth, 1929, are sis follows, figures for the corresponding period iist season also being given:— 1029-30. 1928-29. Beef (quarters) .. 7,900 15,859 Wether mutton ~ 73,208 94,962 I Ewe mutton ..■ .. 8,827 14,042 Lamb .. .. 331,513 441,418 Pork (porkers) .. .. 20,189 22,768 Pork (bacor.e* .. 7,999 11,688 Boneless beef., ■.. 20.13S 15,394 Sundries .. .. 31,270 23,429 Stocks on hand in New Zealand as at December 15th, 1929,-in both seasons, are as follows: 1929. 1928. Beef (quarters) .. .. 7,241 6,989 Wether mutton .. .. 24,207 44,565 Ewe mutton .. .. 3,663 16,108 Lamb .. ~183,097 258,724 Pork (porkers) .. .. 3,212 9,101 Fork (baconera) ~ .. 3.871 8,381 Boneless beef .. 8,983 10,601 I Sundries .. .. 21,641 20,461 ] SOUTH AMERICAN MEAT. The New Zealand Meat Producers' Board has received a cablegram from its representative at Buenos Ayres, Sonth America, advising the following shipments to the United Kingdom for the fortnight ended December 19th. 1929, from Argentine and Uruguay (the figures do not include exports from Patagonia. Chile, or Brazil) :—267,875 quarters chilled beef, 2750 quarters frozen beef, 69.455 carcases frozen mutton, 206,700 carcases frozen lamb. t The quantity shipped to the Continent of Europe during the same period is as follows:—68.488 quarters frozen beef, 10,250 carcases frozen mutton, 1310 carcases frozen lamb. N.Z. HONEY. BIG DEMAND AT HOME. A not* comes to hand from the High Commissioner's office in London enclosing a complaint from a Westcliff-00-Sea housewife that, when she lived in Hertfordshire, Bhe could always get plenty of lovely New Zealand honey. Unfortunately, in the Esses town in which she now resides no one stocks it. and the lady wants to know if the High Commissioner will see about it. He has straight away. The office arranged for the sale of * n s honey in the town. The publicity branch of the High Commissioner's office state in the note to this office that £SB worth in 6d samples were disposed of in one day at the last exhibition the preceding week in Birmingham. ELECTROLYTIC ZINC COMPANY OF AUSTRALASIA, LTD. The following is the production statement of the above company as at last report: — Pour weeks ended November 13th, 1929 Zinc, 4151 tons, of which used at the works 70 tons; silver lead product for shipment to Port Pirie for realisation: Lead .420 tons; silver, 48.300 ounces. Four weeks ended December 11th. 1929 Ziac, 4212 tons, of which used at ibe works 70 tons. Silver lead prodtfet for shipment to Port Pirie for realisation: Lead 415 tons; silver, 49,000 ounces. I XEW USES FOR TIN. I | Details of an important progrimme of research which may lead to the exploitation of entirely new uses and properties of tin were recently announced in London by the honorary secretary o: the Tin Industrial Applications Committee, a body recently formed in direct cc-opeiation with the British Non-fer-rous Metals Research Association t-o investigate the industrial adaptability of the metal. The honorary secretary is reported to have said: "Among many lines of research there is a process of spraying metale which the Association is examining with interest. It is c'almed for the process which we intend testing that pure tin can be sprayed successfully on to any surface, from steel and glass to wood or silk. Our first concern will be to verify the results of recent experiments that go to show tbat pure tin sprayed by the process upon a metal structure renders it proof asainst corrosion. Since it has been stated tliat corrosion costs the heavy industries some ±'sooa«-O,C"O0 a year, the matter is deserving of careful consideration. This method of s-rayin; tin," he continued, '•might op?n up a new era in th» manufacture of decorated fabrics for woafi'j clothes and furnishing. Tin c->nld be upon materials as deli cate as silk, wfiich afterwards, itis claimed, could be crumpled and washed without damaging the fabric or the metal design. Tin sprayed upon claes would make satisfactory and cheap reflectors ana possibly mirrors, while r.ovel effects in interior decoration c-m!d be obtained Then there would bo a wide use in tin-spraying the interior of tanks and receptacles used in the manufacture of food. It is the business of the Applications Committee to examine any t-t» process which they consider of oommerciai ir.terest.''

NEW ZEALAND BUTTER MARKETING IN MANCHESTER. A USEFUL DISCUSSION. FEOM UU£ oW ■- OI'SESPO.VBEXT ■'/ LONDON. November 21. lri tht -Grocer'' of last week "Butter Handler' ' asked Sir James Parr certain questions arising out of Lis recent public statements at Manchester. An answer to this letter, signed by tb« High Commissioner, appears in the current number of the "Grocer"' (November 16th). Ho says : "Mv replr to vour correspondent, "Butter Handler, - ' is that I did not say in mv address at the Manchester Chamber of Commerce on October 31st last, that New Zealand butter could be bought 2d to 3d per lb cheaper than that "from any other country.'-' That statement would be absurd. What I said was that in New Zealand butter, Manchester people could buy an article which was pronounced by British medical analysts to be the verv best, and yet they would sometimes pay 2d and 3d per lb more for foreign "butter. This statement, I would point out, went entirely unchallenged by the importers and merchants who listened to me. though they asked me many other things. In renly to a further question by the same correspondent. I state that it is a fact that Great Britain takes practically all the New Zealand butter and cheese. In my address I made this abundantly clear. What 1 pointed out was that, unfortunately, Manchester and the surrounding district, unlike other parts of Britain, were only very smali purchasers, of our butter, and I argued that as New Zealand bought so very "liberally of Manchester manufacturers I had an excellent case to present in asking Manchester people to buy more from us. We have a progressive increase in output each year, and I asked Manchester people to help us—their own kith and kin overseas —to extend our present markets, in order that this increase should be absorbed.

I can further assure your correspondent that it is uot true that the British market is bare of New Zealand honey. As a matter of fact, New Zealand supplies Britain with about onethird of her total honey importations, and I think I stressed this excellent achievement in the course of my address. A Question of Casks. The original letter in'the "Grocer" has invited further opinions. A correspondent signing himself "F.G.1." says: We may take it for granted that we get all the butter New Zealand can send us*. I notice in the "Grocer' that for the week ended November 9th 145,000 boxes of butter arrived in London. I note also that Danish butter is reduced 10 kroner. In the retail price list of a leading London store, Danish butter is priced at 2s 2d, and fancy New Zealand 2s per lb. Taking the London butter maxket report (the "Grocer." November 9th) Danish butter is quoted 186s to 190s per cwt. In tlfe Manchester market report of Tuesday, November sth, Danish is quoted at 194s to 197s per cwt, with contract dailies extra. On the London market New Zealand butter is quoted 170s to 176s per cwt, which, against Danish of the same day, is 14s to 16s per cwt cheaper to buy I I read Sir James Parr's speech at the Manchester Chamber of Commerce, and the impression in my mind was that he would like to see New Zealand butter more prominently brought to the notice of the consuming public. ■ At the close of the New Zealand butter season, 1929 Danish and New Zealand butter was being retailed at the same price, Is 8d per lb. Proof, indeed, of the high standard of quality. The fact is that the consumer is so used to seeing butter in a cask that this is to the disadvantage of New Zealand. If we can get it in casks it will command the top price on the butter market. That is my opinion. Still another correspondent signing himself "Butter Consumer" replies to "Butter Handler." "Sir .lames Parr's speech at Manchester," he says, "was a typically courageous effort to remind the British public of a fact that they should never overlook, namely, that New Zealand produce is British pioduce." The writer goes on to suggest that -it is absurd for 'Butter Handler' to suggest that the quality is at fault. For vears now expert judges have agreed that, with modern refrigeration, butter from New Zealand will open up just as fresh as the Continental butter." Facts concerning the production or New Zealand butter are then tabulated to show that "it is not surprising that consumers find it a higher qualitv butter than any other arriving on the English market." Other reasons whv we should all demand New Zealand butter before buying from foreigners are given as fol1. No other country in the world can approach New Zealand for the amount per capita annually expended on British goods. 2. No other people are exhorted by their public and business men to "Buy British Goods - ' as- are New ZealandI ers. ' , 3 No other country builds up such a terrific tariff wall against foreign goods to protect the British manufacturer. . , A discussion such as this in a trade journal which practically every provision dealer reads is useful publicity for New Zealand produce. THE AMERICAN TRADE SLUMP. 4 slowing-up in commodity buying was expected in the United States as the result of the October crash in the Stock Exchanges, but it was hoped that a slump in commodity buving would be averted. Observers outside the' United States .believe that the avoidance of a slump «-as scarcely possible, a- with the widespread losses which had been experienced a curtailment of purchases of commodities seemed inevitable. It is certain that preceding the Stock Exchange crisis there was a slowing-up in some industries, and that slowing-up has been obscured or minimised as long as possible. The "Guaranty Survey," published by the Guaranty Trust Company of New York, "in its October number, after discussing the Stock Exchange crisis, wrote: — "The question naturally -arises as to- what effect the market break will have on business. Here again an exaggerated reaction is usually witnessed. Both by curtailing purchasing power and by imnairing the confidence of consumers and business men alike, a severe inaction in stock price-s has an unfavourable influence on general trade. This influence acts first on the market for luxuries; then, if the effects are sufficiently marked, business in other commodities is also restricted. It is to be expected, therefore, that industrial and commercial activity will be affected to some extent by the decline in stock prices, and that the effect will be more pronounced than is warranted by the cause. But the of recent years J';stirie3 the hone that any recession resulting from the action of the stock market will not be violent or of long duration." After noting that the customary seasonal expansion of trade and industry "was less trarked than usual, the "Survey" continues that ""Certain u-.is:c industries have teported consistent declines -r\ activitv contrary to the seasonal trend. This tendency is notably evident in the iron and >te~°l industry, where t'je gradual recession that began some months ago has "ained considerable momentum although there was a very slight recovery during the third week of October. Building activity continues to compare unfavourably •vi-b the totais a year aso. The automobile industry reports marked curtailment, with a further reression in pm^r"r c t as a result of preparations for new models.'' How unhoped for a severe slump was at trc end of October mav be gathered from this sentence in the "Surrey": "Bnt it may be agreed that while some readjnst--1 ment is in order, there is no reason to gnpI pose that any violent upheaval" will be witnessed in tie next few months."-