COMMERCIAL

Press, Volume XCIII, Issue 27986, 5 June 1956, Page 15

COMMERCIAL

INDIAN TEXTILE EXPORTS

INSPECTION SCHEME

A scheme for the examination of cotton textiles meant for export from India whjch has been in operation since September, 1954, has been discarded and another scheme to replace it has been announced. The main differences between the two schemes is that the inspector making the examination has no longer the power to “flag” or reject samples. Instead. he makes a report on all samples submitted, which is available to the manufacturer and the overseas buyer. “The scheme will create confidence in the minds of overseas buyers and give them advance information of the deliveries they are about to receive.” says a commercial bulletin from the High Commissioner of India in New Zealand. “Factual reports of this nature may also be of considerable help and should a dispute arise, firstly to the parties concerned, in arriving at a compromise, or secondly. to the arbitrators should the matter be referred to them.”

HIRE PURCHASE IN AUSTRALIA

LATEST FIGURES SHOW DECLINE

Hire-purchase business in Australia in the first quarter of 1956 suffered a more than seasonal fall despite a recovery in March from the low January and February levels. Preliminary figures for the quarter, issued by the Acting Commonwealth Statistician, Mr S. R. Carver, show that the amount financed under new hire-purchase agreements in March quarter was, at £39.000,000. 16| per cent, below the amount financed in the December quarter last year. The corresponding drop in March, 1955, from the December, 1954, level was only per cent. The level of outstandings due to hire-purchase companies at the end of March, at £205.800.000, was also below the December level. The same comparison in 1955 showed a £10.000.000 increase instead of a £1.000,000 fall.