COMMERCIAL & FINANCIAL

Evening Post, Volume XCIV, Issue 40, 16 August 1917, Page 4

COMMERCIAL & FINANCIAL

Evening Post, Wednesday.

It is not too coon for orohardisla to seriously consider how they aro going to dispose of the noxt Reason's orop of fruil; —which, in fcbia caso, means apples. Tlie prospects for oxport overseas may be left) out of consideration in view of the scarcity of tonnnjje. During 1915 exports of apples, omitting Australia, (under £100 in value) woro mainly to South America and tho United Kingdom, and thp.ir value amounted to £20,978. The chief values and quantities exported were as follow: — £ lb Uruguay ..., ;; .. 6,733 798,200 Brazil .T.v . 5,891 607,504 Argentine 5,352 659,960 United Kingdom 2,500 290,328 Small lots of fruit woro taken to tho Islands. The chief markets above set out nro now closed, but the fruit production has greatly increased, and is increasing all the timo. Australia at any time was not a largo customer. Tho position thon is that the Dominion will this year havo to consume its own fruit. With improved arrangements for _ marketing and, distribution, no doubt thia could be done, but the business is one that must be undertaken by the growers themselves The consumer is unable to do it. There has to bo remembered, too, that growers in Australia and Tasmania, realise tlioserioiwnoss of the position, and' can bo relied upon to neglect no possible outlet in New Zealand for their fruit. Mr. W. M. Hug-hes is convinced that; Australia can consume all the fresh fruit raised, and that at prices giving- a fair return to growers, providing that the latter "push" the business and offor every inducement for greater consumption. That can be best achieved by a, moderation of tho last or consumers' cost. The combined Tnsm&nian and Victorian orchard' interests have approached the Commonwealth Government with an offer of 150,000 of evaporated atwles at a uniform rate of 7d per pound. With an export duty of 30 per cent, added to this price it has been estimated that a return to growers of 3s per bushel would be obtained. OEher schemes for the disnosal of tho 1918 crop are propose' 3, but the question is go difficult a one for settlement that before it is taken up in New Zea- [ land the new fruit may bo on the trees. Tho Australian and Tasmanian 'orehardist3 are already, in the throes of ondeavourinor to find a way out of the disposal of their 1918 fruit with something like a fair margin of profit.

DAIRY PRODUCE.—There is much speculation as to tho method by which the 1917-18 butter output will be disposed of, now that the new season's make is coming into store, and so much of the old remains unshipped. The question of disposal of the produce is receiving very careful official attention at the moment, and some announcement is expected to be nnido in the- course of a few days. In tho meantime there has been much speculative buying. Prices are reported as high as 18|d per pound prompt cash for quite a large line, and otter quotations aro ISgd to 18|d. Factories' idea of value range from 19d to 20d per pound in consequenco of the keen demand. The London market continues very firm, tund full maximum rates are being paid. The shipping tonnage problem is stjll in _ a state of solution. At the moment of writing there is no indicationof tho Imperial Government's intention with regard to the now cheese make, and factories are very anxious to know what steps they may take for dealing with their produce. The Montreal Trade Bulletin of 29th June.^ reporting on. the Canadian cheese situation, states that the total receipts at Montreal for the season to that date amounted to 344,847 boxes as compared^ with 522,926 boxes for . the corresponding period of last year, a decrease of 178,079 boxes. "It would eeem that receipts thi.= season can scarcely catch up to those of laat year, although there are some who appear"-to ba sanguine that they will accomplish this feat yet .... Everything appears to be going along smoothly, although tho profits of tho middlemen and exporters are cut down to tho merest semblance of a profit, whilst in some instances they show actual lopea The farmer ia the ono who is coining money, in receiving 2GJ cents to 21 cents per pound as against 15| cents to 16 cenfs tier pound last year, an increase of 4 dollnre 25 cents per box."

WOOL. —Offerings and sales of wool in the Dominion for the month of July last amounted to 5712 bales combined. In the corresponding month of last year 11,084 bales were offered, and 9907 bales were sold. The American mail has brought news of wool movements up to 30th Juno. A few days earlier, a conference was held at tho Bureau of Foreign and Domostic Commerce in connection with wool importations. Representatives were present of the Textile Alliance, the army, the navy, and tho Bureau of Foreign and Domestic Commerce. Tho Textile World Journal of 30th Juno, referring to ths subject, said that, "while- the officials refuse to discuss the conference it" is understood that they took up tho matter of tho 45,000 bales of wool to bo released from Australia, which, it is said, will not bo suitable for the making of army uniforms. It is understood that this wool will oomo to the country on Japanese ships. Some •kind of an arrangement is looked for whereby this 45,000 bales can bo exchanged with wool manufacturers for their stock on hand suitable for making army uniforms. No conclusions havo yet been arrived at as to how this can be brought about and further conferences are contemplated."

HEMP.' —Bid weather is seriously interfering with production in the Manawatu district, and it in reported that some fibre has been carried away by floods out of the paddocks. The output is likely to be set back for three weeks or a month. Ths probability of the Imperial Government exercising control. of . hemp supplies in London and regulating the jnai'ket as in the case of Manila hemp, is being discussed, and the change is likely to be brought about shortly, the fibre as novf passing through local export nouses in Now Zealand, and being taken over at the other end Prices f.o.b. are approximately as follow: —Good fair grade, £64 10s per ton; high fair, £63 10s; low fair. £62. Tow—No. 1, £10 per ton; No. 2, £9.

JAPANESE GOODS.—The high manufacturers' cost for all Japanese cotton goods is having- the effect of restricting business. As an instance it may be mentioned that certain lines of underwear quoted in May at 7s 6d and 15s 6d respectively, are now obtainable only at 9s 2d and 17s Id. Tho trade is therefore quiet and only absolute essential lines aro being taken. Stacks of such cotton goods are roported to be very low. There is, however, an absence of speculative buying and only hand to mouth business is being done. So far as they have gone deliveries from Japai have been very satisfactory in point of time. Japanese new beer bottlo prices rule so high that Melbourne is able to compete in this with secondhand lines. A recent rise in Japanese freights to Australia of 5s per ton is reported for ali genjral cargo carried by mail linera.

TEA.—Colombo reports this week that the prices' of standard teas are a shade easier oompaxed with the previous sale. This may be attributable to the fact that immediate shipment to Australia is practioa.lly out of the question. From Calcutta, no doubt owing to the stringency of th« freight position, no news is Teceived. There has been considerable local businoe.i in tea. «t pre-duty rates, but now the duty is being added. The increased cost is jilmly to be Id per pound more tlia-n tlie 3d pe-r pound duty, a« the altered conditions brought about by tlw change rtceepsirn.ted holding .'tocL'S in bond, in-oi-eawd storage and cartage, charges, and the payment, of ca.sli for all lines drawn from bond. An advance of 4d per pound all round, inclusive, of coni«e, of duly, may now be expected.

GENERAL GOODS.—AII supplies usually flrn.wn from Australia- a-ro expected {■■o bo in ver.y small cojnpaes for »■ time in consequence of ln-bo-ur (-roubles. Cheaper brands of British fancy soaps a-re now quoted ci f.o.b, prices. Salmon priofts eontinu* very high, said bivsinew i« toporW to b* v&xy-rjuiet, Jims in found

tins have be«n advanced by somo makers id to jjd per pound, according to description. Ureat difficulty is being experienced in obtaining adequate supplies of glass jars, especially such as have the makers' names blown on them. This factor affects tho prices. New Zea.la.nd sheep tongues were in demand in Sydney when tho mail loft at 18a per dozen, for 12oz and 21s for 16oz cans.