VALUING EXPORTS.

Lyttelton Times, Volume CXIV, Issue 16256, 3 June 1913, Page 2

VALUING EXPORTS.

ACTION IN WELLINGTON. [Per Press Association.] . ' WELLINGTON, June 2.

A better system of valuing exports for Customs duty purposes has been urged by the : Wellington Chamber of Commerce for some time, and the president (Mr A. E. Mabin) stated at today's meeting that Mr W. B. Montgomery (secretary of Customs) had re« cently visited Australia, and when ha returned he was interviewed regarding the matter. Mr Montgomery had stated that he purposed asking the Chamber to supply a schedule of values of the chief articles of export at the beginning of each month to hold foi that month, subject to alteration if prices varied. Mr Mabin had pointed out the difiV culties which arose under tho system,inasmuch as exporters did not alwayi put the true f.o.b. value. Then, too, it was difficult to put value on produce sold' under contract for forwari delivery. It might be that goods were being sold under contract at price? auito different from current value. Then there was the difficulty of valuing exports sent on consignment, and an said that the methods suggested by Mr Montgomery would not overcome the?© objections. At Mr Mabin's suggestion, the secretary of Customs had decided to keep in touch with certain expert firms and ask them to supply the Department with reliable prices for products in which they dealt. Thus meat companies would be consulted for values of meat, wools and tallow, and some of the principal wool-buyers for the average value of their purchases, so that sale wools and consignment wools could be assessed. Dairy produce would bo dealt with in a similar manner, anl hemp would be declared on actual invoice value, and generally on such lines a truer value or each item of export could be arrived at.