TRADING WITH RUSSIA

Press, Volume LXXI, Issue 21465, 6 May 1935, Page 13

TRADING WITH RUSSIA

CHANCE FOR DOMINION SEEN RECIPROCITY ADVOCATED An indication that there were considerable possibilities for trade between New Zealand and Russia was given by Mr B. J. Todd, general manager of the Associated Motorists' Petrol Company, and a director of Todd Motors, Ltd., in an interview with "The Press" yesterday. Mr Todd recently returned from an extensive tour abroad. While he was' away he interviewed Russian trade authorities and was assured that Russia would buy New Zealand goods in return for purchases by the Dominion from her. "A big connexion in Russian oil ha.-: been built un in New Zealand. Mi Todd said, "but. it was always understood that when New Zealand's crcail had been built up to a certain point, she would have an opportunity to push her goods." In his interview with the Russian trade authorities in London, Mr locici said an undertaking had been given that the credit created by New Zealand's purchase of Russian oil would be used to buy New Zealand produc s. Wool would be the chief purchase. 1 he undertaking had already been .given effect to. the wool purchased being greasy crossbred. . "The extent to which Russia wil purchase New Zealand goods is limited only by the extent to which New Zealand purchases Russian goods. Mr Todd said. "New Zealand's trade witn Russia now is practically all m oil. he quantities of which are increasing, bin just as soon as New Zealand begins to buv oilier products, the prospects for New Zealand goods will become better." Mr Todd spent some time in Moscow and one of his observations was that the lighter industries were receiving great attention. The heavy industries seemed to be well established and there was great activity in creating textile mills. Mr Todd said Russia would become an increasingly important purchaser from New Zealand of the rawmaterials she could not produce. The oilfields in Russia were very extensive and were considered by most authorities to have the greatest potentialities in the world. The oil was refined and handled on most modern lines and a very efficient marketing organisation had been established throughout Europe.

DONAGHY'S ROPE AND TWINE COMPANY IMPROVED PROFIT | THE I'KESS Special Service. 1 DUNEDIX. May 5. The report and balance-sheet o! Rope and Twine Company Ltd.. for the 1- months ended Marci: 31 last, slates that the net profit amounts to £OI9O 17s (»d. to v, hicl has to be added last year's carry forward of £3525 8s sd. less interim dividend of 9d a share, paid in October. 1934 <£1702 10si, leaving available foi distribution £7959 15s lid. The directors recommend the following appropriations: Final dividend ol' 10d a share Iron trading account, absorbing £1958 (3. 1 Bd, and 5d a share out of income trom investments, absorbing £979 3s 4(1, making, with interim dividend of 9d < share previously declared and pa.o 10 per cent, for the year. Add to reserve for providing benefits for the employees, £1500; and k carry forward £3.322 5s lid. Depreciation, amounting to £22 If lis 6d, has been written oil the buildings and plant. The vacancy on the board caused Ijo the death of Sir John Roberts, liac been tilled by the appointment of Mr J. D. 'Shacklock. The directors retiring by rotation are Messrs George Black and A. C. Matheson, and both being eligible, offer llicmselves for reelection. [The net pro!it ol £Cl9u coiupurtv favourably with that of last year a £4703. The dividend is unchanged at 10 per cent. The amount carried forward from last year was £3525, practically the same as is being carried from the present profit into next year's accounts, but the item of £ISOO reserve for providing benefits for the employees, did not appear in the 193' 'amounts. The capital of the coinpaii; fs £47,000, and the reserves at las balance totalled £28,525.)

LONDON MARKETS LONDON, May -1. Friday's closing prices:— Cotton —Spot, G.Uld; June, G.49d. Rubber —Para. £4 15s; plantation smoked, £5 lis 3d. • Jute—May and June, £lB 7s lid. Copra—May and June, South Sea, £ll 17s Gel; smoked, £ll 7s Cd; plantation Rabaul, £l2 12s G'd. Linseed Oil—£22 15s. Turpentine—£2 17s Gel. POULTRY AND EGGS CANTERBURY CO-OP. I'OLLTR\ PRODUCERS, LTD. The Canterbury Co-operative Poultrj Producers, Ltd., report that at thei) sales on Wednesday and Friday, gooc yardings of all classes of poultry were handled. The general quality wai good, and caused keen competition, resulting in a total clearance of all line: at satisfactory prices. Well Jinishec boilers met with a good demand. while inferior birds were very hard of sale The following prices were realised ; pair:— Chicken —Heavy, to 7s Gd; medium in fair supply, to (>s 3d; light, to 5s Boilers —Heavy, to 3s 9d; mediun to light, the best ol' the?c birds to 3s Ducks—Heavy, to 5s 6c!: light, to 4; 6d: pullets, from 5s 3d to (is. Egg market —Eggs machine graded tested and guaranteed, 2s. THE METALS MARKET

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