IMPORTS FOR EIGHT MONTHS

Dominion, Volume 21, Issue 17, 14 October 1927, Page 14

IMPORTS FOR EIGHT MONTHS

The imports into New Zealand for the eight mouths ended August 31 last totalled (excluding specie) £29,105,373, which contrasts with £32,267,549 in the corresponding term of last year, £34,016,926 in 1925, and £31,454,944 in 1924. Compared with last year there is a shrinkage of £3,162,176, and compared with 1925 a decrease of £4,911,553. Taking the different divisions ot imports the figures compare

29.105,373 32,267,549 34,016,926 There are decreases under all sections compared with last year, the heaviest 'decrease being under the head of miscellaneous, the shrinkage being £2,153,883, or about 18 per cent., due principally to the drop in motor vehicles. The number of motor vchkilee imported during the eight months was 8262. against 15,920 last year, and 14.605 in 1925. and the values were £1,207.194, against £2,558.595 last year, and £2.800,851 in 1925. The value of the benzine was £1,397.650, against £1,709,329, which shows a. substantial decline, notwithstanding the big increase in the quantity imported, which amounted to 29,493,938 gallons, against 27,824,872 gallons. MEAT WAR ENDED For the past twelve or eighteen months a so-called “meat war” has been in existence in the Argentine trade, the contending parties being the British firm of Vesteys on the one hand, and the American meat packing interests on the other. Prior to the outbreak of hostilities 69 per cent, of the shipments < f chilled and frozen meat camo from the works of Vesteys. Armour and Swift, the balance of 31 per cent, being supplied by the Smithfield and Argentine, the English and Dutch Heat, the Biver Plato and Continental Meat, Wilson and Co., and Sausineva Company. With the extension of some of the works an endeavour was made to have this altered, and keen competition in the Smithfield market ensued. Prices of chilled beef in particular were very much depressed, and as this meat dominates the Smithfield, market. mutton and lamb were seriously affected. Reports of a settlement of the trouble have been repeatedly announced, but one of the leading factors that delayed finality being .reached was the stand taken by the Vesteys interests in relation to the absorption of surplus steamship tonnage owned by that organisation. Under Vesteys’ 'arrangement with the River Plate and Continental Fresh Meat Company, at the time of the -’ale of the former Anglo works at Zarate, Vesteys agreed to carry and sell the Zarate Company’s output over a period of years. This was quite feasible, particularly m view of the prospect of picking up cargoes at Campana, where the Vcstey works were then in operation. The Campana works, however, were practically destroyed by fire, and this changed the situation. The volume of cargo available at Zarate was for some time so small that the necessity for sending the large Blue Star steamers there for only a few hundreds tons of cargo created difficulties in regard to the efficient and economical operations of the Blue Star Line. Vestoys in the circumstances suggested the transfer of the arrangement to the Shipping Combine. The Blue Star Line apparently operated independently of the South American Shipping Conference, owing to portions of the refrigerated spare being used in the Brazilian banana trade. Now it is stated that the Blue Star Line has .joined the conference, and that ends the meat war. , It is probable now that meat prices will stabilise at a higher level than lias been the rase for some time past, consequently New Zealand frozen mutton and lamb should bring better prices. COMPANY MATTERS Tlio registration of four new private companies in Wellington is recorded by t!i« ’'Mercantile Gazette.” These are:— Brownlee Investment Co., Ltd.—Capital, £20.000 in £1 shares. J. W. Brownlee, Jessie Brownlee, and J. and J. W. Brownlee. of Havelock, hold 4000 shares each, Christina B. Stowell, Wellington. 4000, Winifred Smith, Isobel B. Reynolds, and I. W. Reid, 2000 each. The objects are to advance and lend money on assets of all kinds, to purchase or otherwise acuuirc as an investment land of any tenure. Hart, Penniugtou. Ltd., registered as a private company, to carry on 'he business of general merchants. The capital is £3500 in £1 shares which are. held in equal proporQpn by H. S. Hart and E. E. Pennington. R. F. Jollands and Co., Ltd.—Registered on October 4 with a capital of £6OOO in £1 shares, of which 5500 are held by R. F. Jollands, and 500 by A H. Ivory. The objects are to carry on the business of wholesale merchants and buyers, sutlers, importers, exporters, manufacturers, repairers, and dealers of or in manufactured goods, materials, provisions, and general merchandise of all descriptions. Wellington Motor Sales. Ltd., with head office in Taranaki Street, has a capital, of £lOOO in £1 ehares, which are held in equal proportions by W. T. H. Knox and J. H. Barnett. The company is to carry on the business of and dealers in automobiles, motor-cars, and motor trucks. Hawera Theatre Go.. Ltd., registered on October 7 has a capital of £7OOO in £1 shares, which are held by A. C. Pease 2000. E. Long 1000, F. Mourie 1000. J. A. Diffnll 1000, W. G. ■ Walkley 1000. and G. Preece 1000. The company is to acquire from A. M. Conroy and carry on business of theatre proprietors. WHEAT MARKETS. A.P.A. and "Sun.” (Rec. October 13, 5.5 p.m.) LotHlon, October 12. Wheat.—Cargoes, in view of the holiday in America, are inactive, and mostly 3d. to 6d. per quarter lower. By the Port Adelaide 4500 tons brought 51s. 6d. in bags, and 51s. in bulk. Parcels are in fair request, but unchanged in price. Liverpool futures: October, 10s. 3Jd. per cental; December, 10s. sgd.; March, 10s. 53d.; May, 10s. 4Jd. CALCUTTA TEA SALES. Calcutta, October 12. Average prices at the Calcutta tea sales for common Pekoe souchong, 12 aunas to 12 annas 6 pics; clean common broken Pekoe souchong, 13 annas to 13 anuas 6 pies; even black leaf Pekoe. 13 annas 6 pies to 14 anuas. Quality generally showed a slight falling off, the tone of the market tending dearer, except for poor and medium descriptions, which have an irregular market. Good liquoring teas arc steady. Clean common tea ruled 3 pies dearer. Orange Pekoes and Pekoes have appreciated slightly. Commonest sorts and strong powdery dusts have advanced 6 pics. Clean grainy sorts are up to 2 annas. LONDON LEAD IMPORTS AND EXPORTS. London, October 12. Lead imports amounted to 20,007 tons, and exports to 1919 tons. HIDES MARKET STRONG. (Rec. October 13, 9.45 p.m.) Melbourne, October 13. At t.ho hides sales the market was strong. Values were Jd. to id. pcr lb. dearer for all classes. FLUCTUATION IN BRITISH OELANE6E SHARES. (Reo. October 13, 8.5 p.m.) London, October 13. There has been wild fluctuation in the shares of British Celanese. Ordinaries slumped from 105 s. to 82s. 6d. on a report that the Brussels Court had given another firm the right to use certain foreign patent rights. The company later stated that the decision did not affect them, but uot before the misunderstanding had knocked off over £2500 from the value of shares, which recovered to 955. Ordinaries were 6s. at the beginning of the year, and reached 1255. last week; £1 preference shares were 9s. 3d. in January, and reaohed 355. They are now 315.. though neither ordinaries nor preference have thus far divided. AUSTRALIAN PRODUCE MARKETS. (Rec. October 13. 7.30 p.m.) Sydney, October 13. Wheat.—At country stations, bulk, ss. per bushel; bagged. ss. 2d. to ss. 3d.; ex truck Sj'dney. ss. 9}d. to ss. lOd. Flour, local, £l4 ss. per ton; for export. £l2 12s. 6d. f.o.b. Bran and pollard £8 per ton. Oats, Tasmanian Algerian. ss. 3d. ner bushel: white. 4s. lOd.• New Zealand Gartons. 4s. 7d., 4s. Bd. Maize, yellow. ss. 3d per bushel. Potatoes. Tasmanian, £9 to £l2 per ton. Onions, Victorian. £5 per ton. Adelaida, October 13. Wheat.—Growers’ lots. ss. 6d. pcr bushel; parcels. ss. lOd. Flour, bakers’ lots, £l4 2s 6d. per ton. Bran, £7 15s. per ton. Pollard. £7 7s. 6d. Oats, 3s. 6d. pcr bushel. P. AND O. STOCK. A.P.A. and "Sun.” (Rec. October 13, 7.25 p.m.) London, October 12. P. and O. deferred stock. £367. CUSTOMS REVENUE. The Customs revenue collected at the port of Wellington yesterday totalled £ 8552*

as under:— 1926. 1927. 1925. £ £ £ Soft goods . 5.874,644 6,245.709 7,105,685 Hardware . 4,520,520 4,547,926 5.039.811 Foodstuffs' ....... . 1.991.468 2.267,955 2.376,281 Beverages . 1.293,634 1,312,396 1,433,603 Miscellaneous . . 9,668,314 11,842,19/ 12,040,212 Other goods .. . 5.736.793 6,051,366 6.021,334