COMMERCIAL

Gisborne Times, Volume LXXII, Issue 11405, 5 January 1931, Page 2

COMMERCIAL

BRITAIN’S DECLINING TRADE DEFICIT INCREASED BY £10,000,000 IN NINE MONTHS (British Official Wireless) • RUGBY, Jan. 1. The depression in, trade is reflected: in Treasury returns showing the' national revenue and expenditure for the first . nine months of, the current financial year. Although an increase in ordinary revenue of barely £17,000,000 is recorded, ordinary , expenditure has increased by £25,000,000, as compared with the corresponding period of last year. . / The deficit shown amounts .to £180,000,000, ; against) 1 -. £170,000,000 at the corresponding date of last year. No estimate of ( thc year’s -results, however, ' can, be formed' at .this stage as the larger part of the income tax is usually, collected in-Hlo'last,quarter of the financial year. Substantial increases are recorded in the revenue during the nine months from income tax, surtax, . and. death duties. Decreases occurred in revenue from stamps, excise, and miscellaneous receipts.

SYDNEY BANK CLEARINGS

(17.P.A. by Elec. Tel. Copyright) SYDNEY, Jan 3. Clearing of Sydney banks during 1950 totalled £893,158,894, compared with £1,043,324,613 in 1929, which eon. stituted a record.

WORLD WHEAT MARKETS REACHED BOTTOM

IVUSTE ALIAN MINISTER’S OPINION

(U.P.A. by. Elec'.' Tel. Copyright) (Received Jan.. 4, 7.10 p.m.) OTTAWA, Jan. 4. A Winnipeg message states that the Australian Minister of. Trade, Mr. Moloney, • arrived here en’ route to Vancouver. He believes the wheat markets of tlie world have reached their bottom, and that, a rising market will not long be delayed.

WORLD’S WHEAT CROP

ESTIMATED INCREASE OF 9 PER

CENT ■ OVER 1929.

rtT.r.A. by Elec. Tel. .Copyright) (Received Jan. 4, 7.10 p.m.) WASHINGTON, Jan. 3.

The total -wheat crop for fortyone countries exclusive of Russia and China, was estimated to-day by the United States Department of Agriculture at 3.649,656,000 bushels, an increase of-9 per cent, over 1929. These fortyone countries a year ago accounted for 96 per cent of tlie estimated world crop. The current Argentine crop is estimated at 271,404,000 bushels as against 162,576.000 bushels last year, an increase of 66 per cent. ,

LONDON HIDES MARKET

(T7.P.A. by Elec. Tel. Copyright) (Received Jan. 4, 5.5 p.m.) LONDON,, Jan. 3.

The hides market was weak. Meatworks dry salted Queensland. 35 to 45 lbs. made sgd, 30 to 401bs, s|d, 25 to 351 b sid, 20 to 30lb sld; New South Wales same weights, 6 1-8(1, 6 l-Bd. 0:1, Gd; wet, salted, Queensland 50 to 601 b 43d, 40 to 501 b 4 l-8d; New South Wales, ditto sd, 4.7-Sd; Victorian abattoirs, 4-ld, 44d. TIN PRODUCTION LIMITATION

OT.P.A. by Elec. Tel. Copyright) (Received Jan. 4, 7.10 p.m.) LONDON, Jan. 3. The Financial Times/ Amsterdam correspondent learns that the tin pro. duction of 1931 is provisionally fixed at 115.000 tons. FROZEN MEAT QUOTATIONS. (TJ.P.A.. by Elec. (Received Jan. 3. 5.5 p.m.) LONDON, Jan. 3. Frozen meat quotations are as lol°New Zealand sheep.— Canterbury and North Island selected crossbred wethers and maiden ewes. 48 to no lb, sld, 57 to 64lbs 4§d. 65.t0 /21b 43d • North Island. 48' to 561 h 4«d, 57 to 641 h 4ld, 65 to 721hs 4pl; ewes under 4811) Id, 4S to 641 b 31 d, 65 to 721.bs 3*d. ' t ... Australian sheep.—First quality crossbreds and/or merino wethers, 40 to 651bs 4cV; second* quality, 30 to oo lb 4<l; ewes, 30 to 551 b '33d. Argentine sheep. —First quality, crossbred wethers, 48 to 641 b 4-d, 65 to 721 b; 4-id: over 721 b 4d. Patagonian sheep—Wethers and/ov maiden ewes, under 50 lh, none. offering; ewes 40 to 501 b, none offering. New Zealand lambs.— Canterbury 431 b and under 81 d; 37 to 421 b Bj}d, 42 to 5011> 7gclj; second quality average 301 b 7)d; other South. Island brands. 261 b and under 8? ( d, 37 to 4211) Bid. 43 to 6011) 6ld; selected North ’ Island brands, including ’Downs, 361 b and under, none offering; other North Island brands, secone] quality, averago .‘iOlbs, none oifaring. . . ■ .Australian lambs. —Victorian, first quality. 461 b and under, 7Jd, 37 to 421 h 7jd; other States, first quality 361 b and under 7§d,' 37 to 421bs 7}d : Victorian, second c|uality. 3611) and under 7d ; other States, second qualitv, 361 b and under GJd ; all States, third quality, 2611). and under, v 6id. Argentine lambs. —First quality 36 lb and under, 7£d, 37 to, 421 b 7}d; second quality, average 3011) Gjd. Uruguayan lambs.—First., quality, 361 h and under 7-Jd. second quality, 37 to 421 b fid; third quality, average -1011). Cld. - ' ■ New Zealand frozen heel. —Ox fores, 1.60 to .22011) Sfd; ox hinds, 160 to 2201hs 43d. Australian* frozen beef.—Ox crops, milder ICGIJ), 3jd : over lOOlh 33d; ox binds! under 1601 b 4£d; over 1601 b •13d. .. , -• ’ . Argentine• chilled beef.—Ox fores, 160 to 2201 b, 33d; ox hinds 160 to 220!fr C3d. New Zealand pigs.—First ’quality, GO to lOOlh. average 901 b, 73d ; ditto, 101 to 1201bs, 6d. A.P.A. DIVIDEND. MivE. S. . Pmdel) ait mail. /it, .the annual, meeting, of, the'. 'Australian Provincial Assu'rriueci Association, Ltd., Sydney, said that he .regretted that .th’d; dividend; .was .only 21!, per cent., dtie to the increased reserves required for payment- of r income tax durinpr the cotming year. Moreover the association, in conjunction with every financial 'institution; Was still subject to tlte possible disintegration by tbe\spectre of. 1 note inflation, and it was .regrettable that no definite statement Iliad "beefi- issued by Mr. fßculUn in support of Mr. Lyons’.promises of note inflation. Theie could be. no prospect of a,.return to prosperity until confidence had been restored- In view - of the moratorium in New South Wales, and ..the prospect of note inflation, the board had suspended all loans on mortgages.