EASTERN TRADE

Hokitika Guardian, 7 January 1932, Page 6

EASTERN TRADE

PROGRESS BY AUSTRALIA

(Australian Press Association.)

MELBOURNE, January 6

A statement by the Federal Markets Department disclosed that Australia’s 'trade with the East lor 'he year ended June 30th, 193 x, totalling 1019,319,889, this being an increase of '£1,796,000 over 1930. The main products exported were wool, wheat, 'Dour and butter. A gratifying feature was that there was a resultant favourable ' balance oi £7,410,656 in the Australian trade with the East.

RECENT FINANCIAL RECOVERY

BUTTER EXPORTS INCREASE

FREMANTLE, January 6

Butter shipped overseas from Australia til's season to December 12 totalled 1,559,591 boxes, as against 1,089,860 boxes for the corresponding period last year. Of individual States, Victoria shows the principal increase, 717,707 boxes have been shipped, compared with 460,832 boxes, New South Wales , being next wi th 248,486 boxes, in comparison with 173,828 boxes for the same period last year. Queensland shipments totalled 441,958 boxes, as against 409,491 boxes.

A considerable improvement >s shown in the Australian overseas trade balance. Measured in British currency, so as to eliminates, the (actor of rate of exchange the four months ended October 31 showed an improvement m the position of £3,900,000 as compared with the (parallel period of last year. Imports, also measured in British currency, dropped no less than £13,000,000 for the same period. Butter, wheat and wine showed moderate increases in exports. The recent reduction of five per cent, in the British exchange rate might be taken as the best indication of the improvement in the Australian cash'position abroad. LABOUR MEMBER’S 'REQUEST. FOR SUMMONING OF PARLIAMENT. LONDON, January 6. Marton and other Olydesiders urgently appealed to the Speaker to summon Parliament, declaring industry had gone from bad to worse and the masses are suffering unparralleled misery owing to unemployment, harsh administration and dole legislation, causing a creeping paralysis of the iron and steel industry. He says Gandhi’s arrest shows that Government has embarked on a blundering policy of repression.