COMMERCIAL

Evening Star, Issue 17482, 13 October 1920, Page 7

COMMERCIAL

WOOL SALES. Press Telegraph—-Copyright. LONDON, October 12. At the* Bradford wool sales there was slightly more inquiry.—A. and N.Z. Cable. SYDNEY, October 12. The concluding wool sale of the first Sydney series attracted a large attendance ; but, as on the previous occasion, only the better classes were in demand at about late rates. The top price paid was 55|d. For cross-breds there was no demand. The second series will open on October 25. Fifteen thousand bales wilTbe offered. EXCHANGE RATES. LONDON, October 12. The foreign exchange rates on London afford the following comparison:— Par. Oct. 7. Qet. 12! Paris (fr) 25.22 A 52.45 53.17 Christiania (kr)... 18.159 25.00 25 35 Stockholm (kr) ... 18.159 17.56 17.83 Calcutta (rup) 10 to gold eov. 20£ d 18d Montreal (dol) ... 4.86 3.80$ 3.82* New York (dol) 4.87 3.60 3.50 i Yokohama (yen) 24J,d 33d. 34$ d METAL MARKET. LONDON, October 11. Copper.—Spot. £96 12s 6d. Electrolytic—Spot, £109; forward £ll3. Lead.—Spot, £34 12s 6d; forward, £34 10s. Spelter.—Spot, £4O 10a: forward, £4l 17s 6d. Tin—Spot, £263 17s 6d; forward, £269 15s. Silver, 4s s|d per oz.—A. and N.Z. Cable. THE WHEAT HARVEST. "If we have an "early harvest New Zealand will be in no danger of a flour shortage," said the chairman of tho Board of Trade (Mr W. G. M'Donald) at Christchurch yesterday. "If we hay© a late harvest there Will be a slight pinch, provided there are no further importations of wheat. During the war the consumption of wheat per head ui New .Zealand, as _ calculated by the Government Statistician, was five bushels and a-half. This estimate is borne out by the actual quantities of wheat gristed since the wheat control office has been in existence. In the first year, beginning on January 1, 1918, the mills gristed, in round figures, 6,300,000 bushels. The total amount in the following year mas 6,400,000 bushels, when the population of the country was approximately 1,150,000. The Wheat Controller estimates this year, after, allowing for the quantity carried over from the previous season (500,000 bushels), for an Australian, importation. of 1,850,000 bushels; and for the quantity fit for milling bought by the milk this year there is sufficient wheat, if it is everiy distributed throughout New Zealand, to supply each person with the 5.5 bushels which previous years' figures prove to be the actual requirements.'' - t GERMAN TRADE INCREASE. Germany is gradually increasing her foreign trade (says the Guaranty Trust Company, New York). And whatever the feelings qf the allied peoples against the Germans—and the bitterness will inevitably and naturally endure for many years —we cannot escape the consequences oi inexorable economic law. To endeavor to do so is as unwise as to try to evade the laws of Nature. It simply cannot be done, and our own interests will be served best by a general recognition of the fact that the economic welfare of the world, but especially that of Europe, and more particularly of those' 1 countries contiguous to Germany, is dependent to a considerable degree not only upon the proper execution of the Peace Treaty, but also upon the rapidity with which Germany resumes full production. Only thus can she pay her indemnity and make amends. Germany has rightly been- described as the "economic keystone of Continental Europe." The- Central-Powers, as well as the new nations of Europe, must have coal, food, and raw materials to work with. RECONSTRUCTION IN FRANCE. France's recovery has progressed, with prodigious energy and success", as the following official table, showing some of tho ■most important direct losses of the war and the extent to which they have been repaired, 'discloses:—

Towns and villages entirely or partly destroyed 3,720 Population driven out and rendered homeless 2 712 000 Of which the following have now returned home 1,533 000 Houses entirely destroyed _ 319269 Houses partly destroyed ... 313'675 Houses reconstructed _ ._ _ 2*ooo Houses repaired ... _ ... _ 182000 Houses,/temporary ... 14*000 Bridges, viaducts, etc., destroyed 4',785 Bridges, viaducts, etc., reconstructed „. ... „. _„. 3^24 Miles. Railways destroyed ... „ 3 450 Railways reconstructed 2*526 Canals destroyed _ ,„. '997 Canals reconstructed ... _ ... 490 Roads destroyed 24.575 Roads reconstructed ._ _ 4*417 Acres. Arable land rendered useless ... 7.200,00-0 Arable land sincle cleared of shells 6,525,000 Arable land relevelled 3.825,000 Arable land ploughed over or dug 2,557^250

Number. Factorie§ and manufacturing plants destroyed 11,500 Factories and manufacturing plants reconstructed and at work 2^540 Factories and manufacturing plants under reconstruction ... 3,812 Employees formerly engaged in these factories and plants .~ 679,000 Workers now employed in the teconstructed factories and plants 257,874 It should also be stated that to-day France has one of the most moderate and progressive Parliaments in.Europe. The recent election have shown that the French people are pulling together to rehabilitate their country, as they did in 1914 to defend her.

Tlie monthly meeting of directors of tho United jStarr-Bowkett Building Society was held in Hugh Mitchell and C-6.6 office lss€ evening, when the annual report (which has been distributed to members) was considered, the directors expressing satisfaction at the result of the year's operations. The Chairman (Mr E. A. Rosevear) .mentioned that tho No. 1 group, the winding up of which is being would show a very sa.tisfactory result, which he was sure would be gratifying to tho members of that group. Thirty-seven additional shares wese allotted in the new No. 5 group, which is rapidly filling up. When No. 5 is filled it is proposed by the directors to start No. 6 group.