PRODUCE & MARKET REPORTS FROM DAY TO DAY

Evening Post, Volume CVII, Issue 56, 9 March 1929, Page 12

PRODUCE & MARKET REPORTS FROM DAY TO DAY

" REVIEW OF BUSINESS

BASED ON STATISTICS

UNEMPLOYMENT POSITION

"Evening Post," 9th March,

A curious position ia disclosed by the ■ Government Statistician in his latest "Ab- 1 ] ntfa'ct,"."namely; "a plentiful supply of ■funds" in the banks, and "the number of ; unemployed as; indicated by the unfilled " applications at Government labour bureau ; continues to mount higher." Bank debits ■ for January indicate a level of business ■I very-little below that for the busy period ; preceding Christmas, -internal trade, slight*ly'below the level of last year;.the usual ,; seasonal decline in the general wholesale ■r price level; and slight signs of recovery in t the building industry. ' . ; Stress is~laid on the great expansion m • th,e dairy produce export trade. Gumula- ; tiye figures'. (gr.adings) '. so far for the sea- " eon show butter and cheese to be 7.7 per /cent, and 13.2 per cent, respectively above ?last season. According to averages com-" ■ piled from the previous ten seasons, the ; cumulative totals up to the end of January represent 58.84 per cent, and C 6.17 Jper cent, of the total seasonal output for - cheese and butter respectively., >< There are very slight recessions in quantities of' meat exported for the three -months ended January last, and for this "a decrease in beef is responsible. ;; OVERSEAS TRADE. '/. The turn, of the year,has, as usual, been 'accompanied by great activity in overseas trade, and. the. figures for January assume large proportion?. A feature is the invcrease in the imports, which may be regarded as the precursor of more activity in our internal trade. The recorded value of exports for January was 11.1 per cent, above the same month last year, and almost double the figure for December, while 'imports were 14.6 per cent, above the same, ■month last year and 26.2 per cent, above 'December, i ' " RAILWAYS AND SHIPPING. The ' latest" available statistics for the railways cover the period ended sth Jauu; ■ar'y last, and therefore include a good pro--pcrtion of the holiday traffic. Compared. Ayith the corresponding period last year tthe points of interest are a decline of 8.7 'per cent, in ordinary passengers by vail, a :gain of 7.7 per cent, in the aggregate ton.mileSj and declines in volume of timber *Snd live-stock carried. j'i MOTOR COMPETITION. "Attention is directed to-the fact that 'there were 3287 miles of track open on sth >January, against 3181 at the same date last •year. '. . . .- . ' ' Two outstanding points are contained in •■ the twelve-monthly statistics: .first, a de•clino of 5.3 pel' cent, in the-.number-of passengers by rail; second, an increase of 3.9 per cent, in the net tou•milcs. The first point gives some evidence "of competition from "rubber" transport; ■while the second, in comparison with the jtojinage of freights carried during 1928 ■by the coastal fleet, which showed an increase of 4 per cent, over 1927, suggests that.. the railways have only just been "holding their ow,n in this direction also. The total tonnage of goods carried by the •railways in 1928 was 2.5 per cent, above ■that for 1927, so that although the actual volume of tonnage carried did not expand as- much as that carried 'by the coastal .'fleet, it is quite clear that the freights are ■now hauled relatively greater distances. ?Pbe season-ticket traffic statistics show'that this branch of business was maintained in 1928 on a level 7.1 per cent, iabove that, for 1927.- January marked t a relatively-quiet period in the shipping in- I 'diistry, both overseas and coastal freights being below the level for December and J.anuary, 1928. Compaved with the.latter, ■p^:no(i;:? <decKiie¥'6£';2.o":per"'cent. and.-8.7-. •per"" cent, we're recorded for ■ overseas -and coastal shipping respectively. ; UNEMPLOYMENT INCREASES. ■: Notwithstanding an increase of -2296 an the number Of workers' employed by the Public Works Department in January in comparison with the same month, last iyear, the number of persons seeking employment, as measured by the number ot Unfilled applications remaining _ on; ■ the:. : books of the Government Labour Bureaux, continues to increase. The number of these 'applications on 11th February numbered 2491y against 2267 this time last year, and 2419 on the 14th January of this year.; Ac-cording--to • the .latest-statistics based on returns from industrial unions, (middle November), unemployment appears to be relatively more prevalent m, the. building, gawmilling, and shipping industries. _ •January marked a period of greater activity than December, but building business was well below the same, month last -Year The value of building permits in. I January was 10.3 per cent, below January, 1928,-and 37.9 per cent, above December. JVIORE TOURIST TRAFFIC. ■ 'The tourist traffic for the present'seagon continues on a high level. The. number 'of avowed tourists..for the four months; ended January amounted to .5111, against 4747 lor the corresponding period last year. ' In considering these figures the Government Statistician points out that they are the latest available at tune of going to press, and in some cases the) are subject to revision. AUSTRALIAN BQNDS IN NEW YORK. Australian Press Association—Lnlii.u Servlc* 'NEW "J.OKK, 7th March. With tathei large sales ol 208,000 dollars •worth ot Commonscalth iVs pel cents on the Stock Exchange to daj the puce fell itom 87% to 84VSd, being the lowest tins tPtuuty has leached, closing at 83/4. Inquiry disclosed that <i single paicel ot 150,000 dollirs, of these bonds Mas sold Ul one financial house, possibly closing ar estate. This 1 caused the pnte to soften Hccordinglj. Theie appaiently no othei discernible cause foi the drop. ' THE METAL MARKETS. Australian Press Association LONDON, Bth ]\Uth Coppei —Standaid, on spot, £82 11s 3d pet ton, forwaid delneiv, i<B3 18s l%d, electrolytic, £01 and £01 10s Le id —£23 18s lY.il and t24 2s 6d. Spcjter — £26 2s, Gd and Jb26 8s 9d Tm —£218 13s 9d and £220 12s Gd. Silvei —Staudaid, 26 1-lCd per ounce, *nd 24 l-Bd. WHEAT AND ~OTHER PRODUCE. Australian Press Association—United Serrlc*. LONDON, 7th March. Wheat.—Cargoes are dull .and : generally '3d per quarter -lovrer..Parcels tend.to be ie&sior.,Liverpool! futures: .March, Ss ll%d pjer cental; M.ay,"os : 2-}£d; July, 9s 5 3-Bd. 'Spot trade is slow; ■ Australian ex ship,. |4.9 a 6d per quarter. Flour market is dull. Australian ex store, 35s 9d. . • , Oats are ' steady. Australian Algerian, 27s 6d to 20s; A. Gallons, 31s to 325. Peas are slow;.. Blue, Tasmanian. 340s tp 3605; New Zealand, 320s to 3405. Maples ITasrnanian, 70s to 72s :6d; New Zealand, '60s to'62s-6d. New. Zealand beans, 49s to 50s. ■■■..' : CHICAGO, 7th March. ! Wheat futures:' March, 1 dollar 22 1-S cents per bushel; May, 1 dollar 27 cents; July, 1 dollar 29% cents. " ." ..: ■: MELBOURNE, Bth March. ■ Wheat.—4s 9d to 4s 0 1/6 d per bushel. Blour: £11 to £11:5s per ton. Bran: £6 16s per ton. Pollard: £G 15s. Oats: 2s lid' to 3s Qd per bushel. Batley, English: 4b to 4s 3d. : Maize: 4s lOd. "■ ■ ; At the hides sales there was an active jharket'and values generally were farthing <», halfpenny dearer. ;.Vat stock prices for export. '. ■The New Zealand Meat Producers' JBoard advises that the following prices ire' being offered for fat stock for export at 7th-March:— :". .'"■ "■ ::'■ :! Hawkes Bay:1; Prime woolly lambs,' 36/ under 9d; 37/421b 8%d;'43/over 8d; secarid quality lambs Bd. Wellington:' 3?rime woolly lambs, 36/ under 9d, 37/421b BV4d, 43/ovftr 8d: second quality lambs Bil. Canterbury: Prime woolly lambs, 30/ under Mid, 37/421.b 9d. 43/Ovef. BVid.;. second duality lambs, 8%d." Southland: Prime woolly lambs',-3e/linder WzA, 37/421b -B%dy--43/over S^d; second quality lambs, 36/ under 8!-Sd, over 361b 7.5 id,