THE THREE-MILLION MARK.

Mataura Ensign, 22 April 1913, Page 5

THE THREE-MILLION MARK.

* PASSED IN DAIRY PRODUCE. A BRIGHT OUTLOOK. PEB UNITED PRESS ASSOCIATION. WELLINGTON, April 22. Speaking at the annual meeting of the Chamber of Commerce to-day, the president, referring to the trade outlook, said that money stringency was all that Xew Zealand had to fear, and commercial men were necessarily acting with caution until the position became more settled. Fortunately therewas some indication that an improvement had set in, for the Bank of England had reduced the rate of interest last week, and if the political outlook improved no doubt the rate would be brought down another half per cent, presently. He quoted figures showing the favorable progress made in New Zealand produce. If the present prices were maintained (he said) it was safe to say that Xew Zealand exports to Septem•ber 30 next bade fair to exceed last year's total by over £1,000,000 or £1,250,(KX). The increase was a large one and would bring the year up to about the level of the best prevb as year, 1909-1910. The price of wool had advanced the value of the season's clip by about £1,000,000. Wellington had : become the leading selling centre in New Zealand. For the first time dairy produce had now passed the £3,000,000 mark in exports and was running close to frozen meat for second place on the list. To sum up, the position of the export linos was satisfactory. It would have been more satisfactory if the increases i had been quantity increases and not price increases, as the former were the result of increased productiveness and might bo considered permanent, while the latter were subject to market fluctuations.