COMMERCIAL NOTES

Evening Post, Volume CVII, Issue 61, 15 March 1924, Page 9

COMMERCIAL NOTES

- OUTLOOK FOR BUTTER PRICES

DEVELOPMENTS IN STEEL

TRADE

DOMINIONS NOT SUPPLIANTS,

(rsoa our. own correspondent.}

LONDON, Bth January

Australia has not the slightest intention of being hewers of wood and drawjrs of water, but is quite determined to develop in the future, on well-balanced lines, to be not.only a primarily producing country, but a manufacturing country as well. This assertion was made by the Right Hon. S. M. Bruce, Prime Minister of Australia, at Lincoln.

"Australia," he continued, "is not over here as a suppliant for your favours, nor is she asking you to do something which is going to benefit us and bo detrimental to you. We have tried to promote closer Empire relations and trade. If we can't get a market in i Britain we have got to get a market elsewhere. We have been approached: by other countries which want to make reciprocal arrangements with us, by which they will give us preferential terms for our foodstuffs in respect to what we can do with their manufactures. We have refused- all offers up to date, as it would be detrimental to British manufactures. We are trying to point out that if wo can come to an arrangement with Britain it is going to benefit Britain and the whole Empire, because as we develop we shall increase our producing power and become" better customers of Britain in the future. (Cheers.) We are no there to grab advantages for ourselves. In Australia we believe in tariffs, and think that is | the most certain and best way to achieve the. objects we have in mind, but we are still prepared, if, the people .of Britain do not like the idea of tariffs, to explore every avenue to sco if We cannot get closer trade relations between Britain and other parts of the Empire. There are many other ways. We have heard of .shipping subsidies, and there are innumerable other plans which might be put forward. But I do ask that you should try in Britain to get some appreciation of the possibilities of the. Empire. It is probably to the Dominions that you. will have to look in the future. If the Empire succeeds in its object we shall probably be able to do something not merely for the pcoplo of Britain and Australia, but sumcthiug of enorinuus value to the whole of humanity." DAIIIY PRODUCE. Buttor prices were further advanced during the past week. The demand, however, is somewhat restricted. Best quality has not been plentiful, but good quantities are1 due to arrive from New Zealand. Good value is to be had in the cheaper grades of butter, particularly best Argentine descriptions. After the Remuera and lonic have arrived from New Zealand, bringing 204,320 boxes- together, imports from the latter country will be smaller. It is, however, the great falling-off in shipments from Australia ■ this season that has created - .the strength' of "the" market.' The advance in butter quotations has 'not yet been passed on to the public,, and prices will be regulated by the consumptive demand. The., butter., market .appears likely to -undergo important: fluctuations for two or three months. The cheese" market is firmer inclined this week, and while higher prices are anticipated irregular movements are likely to prevail. Best eggs have been very dear during the last month or two, and severe weather still prevails on the Contineut. English production, however, is rapidly increasing, and the tendency of prices is lower. Bacon has experienced violent changes in value during the past months, and owing to tho exceptionally heavy killings in Denmark prices were forced down below the cost of production. Mouey\Wi\s freely lost on the imported article. More stability now characterises the market, but the future course of prices will be largely governed by the extent of the killings in Denmark. bleached' white gold. The shortage of platinum and the demand for its ( use in jewellery have caused a Sheffield firm of refiners to market as a. substitute 18-carat gold, alloyed with a mineral that bleaches it and leaves it of a colour so closely resembling platinum as to be indistinguishable by the eye. It is, of course, cheaper than platinum, and that, coupled with the fact of its close similarity, will ensure it a substantial market. To the ordinary person it is difficult- to see why gold should have a greater appeal when whitened than in its familiar colour— but so it is. -The new metal is hallmarked 18-carat, and is of the intrinsic worth of yellow gold of the same alloy. While most people might prefer gold to look like-gold, there is certainly something of a novelty about this white gold. It is hard and durable,' and it would not be surprising to see it in use for watch cases and similar things in the near' future. STEEh MANUFACTURE. An important article by an expert in steel works practices appears i:i tho current number-of "The Chemical Age." Consequent upon the demands for special alloy steel for automobile, 'work, it is stated, the. manipulative advantages of the electric furnaces have been recog-. nised, and the tonnage produced by this means has rapidly increased- There has been rapid development, not only in improvement in details, but also in furnace capacity. In this country furnaces capable of dealing with lo tons p>r charge are about tho maximum, but in Sweden units up to 30 tons are In me, and m America one largo automobile firm is installing a furnace of 60 tons capacity which will shortly be put inlo service. .

Perhaps the most striking recent de-velopment-has been.that of the 12 per cent, to 14 per cent, chromium alloy known us stainless steel. It has been reported (rum Germany that successful attempts have been made to produce steel for ordinary structural purposes in v non-coiTodible condition. This rcpurt lias not been confirmed, and it is difficult to see how (in view of the high price of the alloys necessary to render tho material rustless) it could be made at a pricu which would render it available for such purposes. It is not beyond the bounds of possibility, however. Thu demands of the automobile industry, faced with the.need of building cars at competitive prices, has led to the demand for a steel 'which it is possible to machine at a very high rate, at iiie bailie time leaving a highly finished surface. Tins has been met satisfactorily by :i material known as "free cutting steel," which contains a larger content of sulphur and phosphorus than .is I'sually permissible. - This steel is now being widely used ior purposes other than for motor-car work, and its application in the future will be . very wide, since it is particularly suitablo for automatic machines.