EMPIRE TRADE.

Press, Volume LXVI, Issue 19972, 5 July 1930, Page 14

EMPIRE TRADE.

MARKET FOR BRITISH PRODUCTS. DUTIES ON FOREIGN IMPORTS ADVOCATED. (UNITED FEESB ASSOCIATION"—BT 81/tCTOIC TEI/BORAPH—COPTJUOHT.) (Received July 4th, 7 p.m.) LONDON, July 4. A group of bankers and others, over whom Sir Eric Hambro presided, carried a resolution in favour of urgent measures for the promotion of Imperial trade, which was needed to secure an extended market for British products. "We believe that the immediate step for securing and extending the market for British goods lies in reciprocal trade agreements between the nations of the Empire, as a condition of which Great Britain must retain an open market for all Empire products, while being prepared to impose duties on all foreign imports," they declared.

U.S. TRADE. CONSIDERABLE DECREASES REPORTED. (UNITED pms ASSOCIATION—IST suxraic TELBGBAPH —COPYRIGHT.) (Beceived July 4th, 7 p.m.) WASHINGTON, July 3. The Department of Commerce, in announcing a considerable decrease of American foreign trade for tho first quarter of 1930, indicated a 30 per cent, decrease in exports to Australia, oj equal to 11,632,000 dollars. Severe import decreases were:—Australia, 50 per cent., chiefly wool. Now Zealand, 40 per cent., compared with the similar period in 1029.

FRUIT FOE EXPORT. COMPLAINT OF ROUGH HANDLING. [XHB PBBSS BpecUl oerrieo.J WELLINGTON, July 4. More care in the handling of export fruit on tho Wellington wharves was recommended in a remit introduced at the fruitgrowers' conference to-day by Mr G. Hardy (Hawke's Bay), who suggestcd that fruit should be loaded into ships on trays. Some of the men loading were heaving coal ono day and shipping fruit tho next. Mr W. Benzies (acting-secretary to tho Fruit Export Control Board) agreed that rough handling took place at times* and when it did take place it waß extremely bad. He would not like to convey the impression that rough handling took place at all points. Where there was permanent labour employed by the Anchor Company and tho Harbour Board, the labour could be controlled, but when the shipping companies employed labour to load overseas vessels it was of a very casual nature. Theye had been a campaign during the last two or threq years to educate the lab9ur in decent handling, but their idea or decent handling was not tho same as the Fruit Board's. Special trays were dosired, and he suggested that the Harbour Board, shipping companies, and the Fruit Board might work out a scheme.

TRADE WITH RUSSIA. EXPORT CREDITS DISCUSSED. (BRITISH OFFICIAL VJIKSLSSS.) RUGBY, July 3. When Lord Ponspuby, for the Government, moved in the House of Lords the second reading of the Overseas Trade Bill, extending the time for Government guarantees upon exports, Lord Brentford, the Conservative ex-Minister, criticised the decision of the Government to fattend the operations of the system to trade with Bussia. He said that Bussia already owed this country vast sums of money, yet wo were guaranteeing Russian bills. Lord Ponsonby said that the question of repayment of pre-war debts and claim* should be kept entirely Beparato from the arrangement of export credits between business firms in this country and Bussia. It would be a mistake to place obstacles in the way of trade, merely because one detested the policy of the Soviet Government.

The Bill, which has already passed the House of Commons, was read a second time.

CHANGE OF HEADQUARTERS. (99*98 ASSOCIATION TSUSQBAU.) HASTINGS, July 4. The headquarters office of the Hawke's Bay Farmers' Co-operative Association, which has been in Napier Sinco the Association's estabr lishment, 40 years ago, is being shifted to Haitings as. soon as tho now premises are completed.

SUN INSURANCE OFFICE. INCREASED TRADING SURPLUS. The Sun, the oldest insurance office in the world, has produced a total net trading surplus tor 1820 In exeefeg of that of 1929. This satisfactory result has been made pos» «ible largely by the increased profits is the burglary and general deportment, counterbalancing a falling-off in the Are department. Last year's premium incomo totalled £4,219t--030, o£ which £2,572,000 was due to the fire department and £1,117,000 to the burglary and general department. The net profit of the fire department was £224,633, as compared With £381,016 in 1S28; in the personal. accident department, £9569, against £3022, in the employers' liability department, £5504, »B»l|tst £2982; in the burglary and general department, £75,656, against £20,689; and In the marine department, £20,000, against nil, this latter transfer to profit And lost being the first since 1625. There has been ft further Increase in the rate of dividend, the rate being 6oj?er cent., against 63) per cent, lor 1928, and tho dividend is fully Covered by Interest earnings, leaving the gum of £220,000 as the net addition to free asset* from the results of the year's working In addition to the general reserve of £1,000,« 000, there is • a credit balance in profit and 'ass -account of £1,083,194, and from this balance £120,0U0 has been cipitaliscd.

bUNLOP.PERDRIAU AND RAPSON The negotiation* Which have been in pro* gress for gome time past by which the DunlopPerdrtsu Company was to absorb the Rapson Tyre arid Rubber Company (Australia), have been abandoned. This announcement Was recently made by the secretary of the DunlopPerdriau Company in Melbourne, who stated that his directors had decided not to proceed farther with th» negotiatiOM,