THE TIMBER TRADE

Press, Volume LXVIII, Issue 20626, 16 August 1932, Page 10

THE TIMBER TRADE

A BIG IMPROVEMENT. SIX MONTHS' FIGURES. The timber imports and exports of the Dominion for the first six months of this year show a favourable trade balance of over 10,000,000 feet (board measurement), valued at £93,790, as compared with a slight adverse balance for the corresponding period of last year and ail average adverse balance of about 10,000,000 feet (£136,000) for the same period of the years 1925-30. The following table shows the marked improvement in the position of imports and exports since 1928, values being shown in parentheses:— Imports. Exports. Ft. b.m. Ft. b.m. (5 months, 1925-30 30 (av.) .. 20,126,000 16,462,000 (£317,000) (£181,000) 6 months, 1931 7,968,000 6,718,000 (£93,000) (£71,050) 6 months, 1932 2,906,000 13,427,000 (£33,860) (£127,650) Figures Interpreted.

"The condition of the wood consuming industries in New Zealand at the present time is well illustrated by this year's importations of timber," remarked the Commissioner of State Forests (the Hon. E. A. Ransom) in an interview in the course of which he . gave. the above figures. "The low importations of Douglas fir and redwood reflect the slackness of the building and construction trades; the moderate importations of butter boxes and cheese crates emphasise the increased use of locallymanufactured'' containers, although certain factories apparently still favour the foreign article; the absence of hemlock and spruce from present shipments indicates in no uncertain manner the replacement of foreign manufactured fruit and benzine cases by containers manufactured from New Zealand timber; while the firmness in the imported oak trade reflects the absence from market of a New Zealand competitive timber for furniture manufacture of the type in which oak is favoured.

Satisfactory Exports. "The exports of timber from New Zealand, taking into account the condition. of Australian wood-using industries which consume almost entirely all timber exported from New Zealand," Mr Kansom added, "must be considered highly satisfactory as regards quantity. The price, too, has been maintained fairly well, the average export value of all species having fallen from an average of 22s over the years 1928-30 to 21s :U1 last lcar, and 10s this year.'' The Minister also pointed out that the use of locally-grown pine plantation timbers has trebled since 1919. As a percentage of all the timbers cut, the pines have increased from less tlian 1 per cent, in 1918-19 to 12 per cent, in 1931-32.. The use of locallygrown pino timbers, said Mr Kansom, had been largely responsible for the decreased importation of cheese crates and fruit cases, which for 1931 were 59 per cent, and 89 per cent, less respectively than for 1930.

EMPIRE TIMBERS.

MARKETING BOARD'S HANDBOOK;

(PROM Otfß OWM CO^PWOMJISST.) LONDON, July 8. TI)C Empire Marketing .'Board has issued a Handbook of Empire Timbers, for the use of architects, builders, fur-niture-makers and all who arc practically interested iii working with wood. The book describes the qualities of some sixty woods whose usefulness lias been proved and the woods described are woods which can bo obtained in commercial quantities and at reasonable prices. , ■ . Care has been taken not to include wood which cannot be obtained in large quantities, or whose virtues have not been fully demonstrated. It is pointed out in the preface that, although the Empire has some 2,000,000 square miles of forest, Great Britain only obtains from Empire sources some ten per cent, of its imported wood. Under the New Zealand section paritculars are given of the kauri, pine, rimu, and Southland beech. AMERICAN FINANCE. GRAVE ANXIETY FELT. COLLAPSE OF SECURITIES. The cables tell of a recovery on the New York Stock Exchange with a sensational volume of business and a sharp advance in prices. The position in the United States at the end of May was referred to by the New York correspondent of the "London Observer" as follows: — " "Grave anxiety is felt regarding the situation in the United States. Conditions there are becoming more and fnore bcrious. Almost every proposal put. forward from the White House and the Government has been defeated by the chaotic conditions prevailing in Congress. The efforts made by. the Federal Reserve authorities to stimulate trado and industry !>y the expansion of credit have been more than neutralised hy the loss of confidence due to political disagreement. I lie hugo Budget deficit still remains, the army of unemployed is growing, and is extending into the middle classes, while security values of practically every class liavo suffered immense depreciation.' The position is being watched with the closest attention in every financial centre of the world. It is safe to say that no real recovery in world prosperity can take place until the United States lias put its house in | order.

"The absolute collapse which has taken place in security values is well illustrated by the position of the common stocks of the principal railways iu the United States. Railways in this country are having an exceedingly difficult time, but, compared with their contemporaries across the Atlantic, they may be said to' be almost prosperous. Bankruptcies and receiverships are threatened, involving vast losses to insurance companies and other financial institutions which are large holders of railway, stocks. The following table shows the fall which has taken place from the highest points reached in 1929 Price Highest to-day.' 1929. Fall. Aitciiison ;. .. 29 807J 278J Baltimore an 1 Ohio .. 5J 119 143J Chesapeake, and Ohio 14J 285 270?. Chic. Mil. and Paul .. J* , 86.J S3.S Erie .. 2J.. 95 921 Illinois Cent. .. 7; 154 146J Norfolk and Wes. 73£ 2SB New York Central ]]£ '265 253J Pennsylvania .. 8* 113 , 103} Union Pacific " .. 41} 306 i 2R4J Southern Pacific .. . 160~ 15l|

. "The nominal value ,of the .common stocks of the railways mentioned in the table is about 2,000,000.000 dollars. At their highest in 1929 their v.ilue wis orer 5.000.000.000 rloll-••«. Tn-dny tbfi.v are only worth about - c 0,009,000 dollars."