COMMERCIAL.

Evening Star, Issue 16089, 14 April 1916, Page 1

COMMERCIAL.

THE HEMP INDUSTRY. A meeting of the Flaxmillers' Association was held at Paimerston North yesterday to consider the position in regard to tho shortage of tonnage. The president (Mr C C. Higginson) Baid the outlook was bad and tho tonnage available _ altogether inadequate to carry the Dominion s produce as well as flax. To go on producing under the circumstances was only inviting trouble for the flax trade, as the stores were already overfull, and exporters could not be expected to _ go on buying flax which they could neither store nor ship. The matter was vital to the Dominion, and the Government ought to take steps to provide additional tonnage. The millers discussed the position thoroughly, but realised that they were "up against it," and that nothing but the quick appearance of ships could save the situation. Finally it was resolved that the millers should cease railing at Easter, and that they should close down for a month and meet again'in May to review the situation. THE BEGINNING OF THE END. Germany's financial plight is vividly portrayed by/the news of the failure of two of the largest South German bankinp; institutions. The liabilities are £25,000,000, and thousands of depositors are ruined. This is doubtless only, the forerunner of other and more extensive failures. Germany's export trade is ruined, and German prosperity rested in great measure on export trade. One of the banks which has failed is the house of Stapperfenne, Schultz and Co., of Stuttgart. The name of the other firm is not given. _ As bearing upon Germany's financial plight, an American financial agent in close touch with city financial circles made an interesting statement to a Press representative. He expressed the opinion that in the course of the fall of the present year Germany's rate of exchange will have fallen so low that "her credit will nearly have gone, and she will find herself so burdened with debt that she will be compelled to ask for terms. "Wall street," he said, "is realising this, and is setting its house in order for what we all believe will take place in October or November. Germany without credit will go under, and whatever '-.]-r----place in the next few months the Allies know, and so does New York." AMERICAN WHEAT. ADVERSE CROP REPORT. LONDON, April 13. The Chicago wheat market is strong owing to adverse crop advices. May options. 1184 to 119J cents; July options, 116 to 11'7£ cents; September options, 114| cents. AUSTRALIAN MARKETS. Pi ess Association—By Telegraph—Copyright. SYDNEY, April 13. Oats : Tasmanian Algerian, 2s 6d to 2s 7d; white, 2s lOd to 3s. Barlev : Feeding, 3s 3d; malting, 3s 9ri. Maize : Local, 4s 3d to 4s 4d: South African, 4s 7d to 4s Bd. Potatoes : Tasmanian, £6 10s to £B. Onions, £5 10s. ADELAIDE, April 13. Wheat. 5s 3d. Flour. £lO 15s. Bran, Hid. Pollard. Is Ud to Is 2id. Oats, 2s to 2s Id, MELBOURNE, April 14. Bran, £4 15s. Bran is almost unattainable; 15s premium was offered (?) on sgs. Barley : Chevalier. 4s 6d to 4s 9d; Duckbill, 4s 2d to 4s 4d. Oats : Milling Algerian, 2s Id to 2s 2d; feed. Is lid to 2s Id. Potatoes. £4 10s to'£4 15<s. Onions, £3 10s to £3 15s. DAIRY PRODUCE. Press Association—By Telegraph—Copyright. LONDON, April 13. (Received April 14, at 10.50 a.m.) Market steady. Danish, 1745, 176s cwt. Australian choicest is in small sll Pply, prices (nominally), 158s, 160s; the bulk of the Australian offerings consist of secondary quality, for which" there is moderate demand at 150s. 1545. New Zealand, choicest. 1625, 1645: secondary. 1565, 158s. ' " Cheese.—Market very firm. The bulk of the arrivals is required for filling Government contracts, and there is strong demand for the remainder. New Zealand, 105s, 106s; Canadian, 108s. Sugar, unchanged. HIDE SALES. MELBOURNE, April 13. Tho supply of hides at to-day's sales was small. There was an active demand, and prices were firm, but unchanged.