AUSTRALIAN INDUSTRY

Press, Volume LXXXVI, Issue 26117, 20 May 1950, Page 9

AUSTRALIAN INDUSTRY

DISTORTED PRODUCTION SEEN Distortion of Australian Industrial production is to be found partly in the performance of the basic industries and partly in the unbalanced distribution of employment, says the National Bank of Australasia, Ltd., in its monthly summary. Sufficiency in the consumer trades and industries is in contrast with the continued shortages of more durable things —of personal, industrial and public capital goods, and of the materials of whicn they are made. The pattern of industrial progress appears to have become distorted with too great an emphasis upon meeting shortterm needs and comforts, and too little upon providing the more substantial and enduring things which make for national solidarity. The weakest point in the economy is the inadequate performance of the coal industry. The structure of Australian industry hac not been seriously weakened, but as far as the great resource of labour is concerned it has been thrown somewhat out of balance, due to a multiplicity of causes, the bank states. One such cause is the extension of Government, which has absorbed large numbers into administrative and clerical occupations in the Civil Service. A more important influence has been inflation, which has provided profitable avenues of employment in less essential tasks to meet demands of those people with surplus spending power. The remedies for distortion are thus partly to be found in the remedies for inflation, but they lie equally in improving the performance of the basic industries, particularly in the avoidance of industrial strife in these industries. Yet, whether the solution lies in improved working conditions, in the education of man and manager, in outwitting or suppressing the Communists, or in ah of these three avenues, there is no other way than to persist vigorously with the search. There is no other task which can achieve more toward correcting distortion and bring about a better balance in production and trade. GRAIN AND PRODUCE MARKETS BRITISH IMPORT LICENCES GRANTED (By Our Commercial Editor.) The United Kingdom has granted licences for the importation of New Zealand small seeds, principally ryegrasses and clovers. Licences for fescue are not yet to hand. There appears to be some hold-up of these. A pleasing feature is that the licences have been granted in full—a fact which may augur well for trade in the remaining months of the year.

Now that Cashel street merchants have received their licences in full, they are much happier about the immediate outlook for the small seeds industry and the future of their remaining stocks. There is no further inquiry from overseas at the moment. This is only to be expected. Meanwhile, markets remain firm and quiet.

There appears to be no alteration in the outlook for peas and the only thing for merchants to do, said one this w r eek, is to stack them away and forget about them for the time being. The spell of wet weather has slowed up the flow of seed wheat to the farms, but there is still ample time for winter sowing. Shipment of potatoes to northern ports is virtually at a standstill, because of lack of shipping space. The small vessel Apanui is at present loading for Raglan, but her space is of small dimensions, and she can only lift a very, limited quantity of potatoes. It is not known when the next Auckland potato boat will be to hand. The total quantity of potatoes shipped from Lyttelton to date. 22,386 sacks, is exactly 97 sacks ahead of the tally for the corresponding period last season. Quotations Algerian Oats.—4s 6d to 4s 9d, according to quality; black oats, 4s 6d to ss; Duns, up to 6s. according to quality: Gartons up to ss; all prices sacks extra on trucks at growers’ stations Wheat.—Tuscan varieties, 8s 9d a bushel, f.0.b., growers’ nearest port Premium 2d a bushel for Hunters, 4d for Pearl and Velvet, 6d for Marquis, and Is for Hilgendorf. Price increments: April. Id a bushel; May, 2d; June, 3d; July, 4d; August. 4jd; September, sd. Montgomery Red Clover.—2s 3d per lb uncertified. 2s 6d standard, 2s 9d mother seed (nominal). Red Clover.— Is 3d per lb; machine dressed, 98/90. White- Clover.—3s 9d per lb, uncertified; 4s per lb certified pp.; 4s 3d mother seed. Chaff. —£7 a ton on trucks. country stations (sacks extra). Lupins.—los to Ils a bushel, on ruck? (sacks extra) Earley.—Main malting varieties, 6s 7d a bushel; research and cape 6s 4d 'or trucks, sacks extra) Browntop.—4s 6d per lb certified 98/90, and 3s 9d uncertified machine-dressed seed. Cocksfoot.—ls 3d to 3s per lb. according to quality. Ryegrass.—Certified perennial, 98/90. mother 23s 6d a bushel; certified, p.p., 22s 6d: H.l, certified 98/90. mothe»' 245. standard 235; Italian, 98/90. mother 18s, standard, 17s; uncertified, 16s. Linseed.—£32 a ton (on trucks). DUNEDIN (New Zealand Press Association) DUNEDIN, May 19. The present steady influx of Australian wheat into the North Island, upon which a substantial subsidy is being paid, has militated against the use of oats and barley for feed purposes and there is a consequent ’oss of trade by South Island merchants. Generally most small seed lines remain firm in value. Offerings of perennial ryegrass, short rotation ryegrass, and Italian are restricted.