EXPORTS AND IMPORTS.

Manawatu Standard, Volume XLVII, Issue 124, 23 April 1927, Page 5

EXPORTS AND IMPORTS.

FIGURES FOR FIRST TWO ' MONTHS OF YEAR. The quantity butter exported in the two months'of January and February amounted to 285,864 cwt, as compared with 268,490 cwt. In the two months of last year, an increase of 17,374 cwt. The value was £2,097,053 against £2,044,890. The cheese exported in the two months was 346,138 cwt, against 314,979 cwt, an increase of 31,159 cwt, but notwithstanding this expansion the value declined, the figures being £1,268,990, against £1,394,955, a decrease of £125,965. Adding casein, dried and preserved milk, the vdlue of the ({airy products exported during the twi'. months totalled £3,500,247, against £3,570,132 in the corresponding two l tenths of last year, a decrease of £655,385. There was a big increase in the exports of frozen limb. The figures for the first two months of the year show that 389,050 cwt was exported, as against 237,049 in the two months of last year, an increase of 152,000 cwt. The values were £1,406,090, against £895,853, a gain of £510,237. The exports of mutton were smaller, the figures being 173,174 cwt, against 198,852 cwt, and the values £369,780 against £479,265. The shipments of beef were very small amounting to only 16,761 cwt, against 42,165 cwt, and the values were £20,601, against £60,387. Taking all classes of meat — frozen, salted, preserved and potted—the value of shipments for _ the two months was £1,933,253, against £l,534,031, an increase of £399,222, which is in striking contrast with the dairying results. The shipments of wool for the two months show gains in both quantity and value. The quantity was 197,085 bales against 167,280 bales, and the value £3,721,431, against £3,262,047. Hides, skins and pelts yielded a better return than last year, the shipments for" the two months realising £353,822 against £280,013, an increase of £73,809. Hemp yielded less money although the shipments were larger; for the two months of this year 3052 tons were exported as against 3044 tons, and the value was £93,732 against £96,015. The tallow exports were 2671 tons, against 28751 tons and the value £87,000, against £108,082. The exports of sawn timber declined, the quantity being 4,958,055 super feet, against 5,261,775 super feet, and the value £54,892, against £60,897. The imports of sawn timber were 9,497,899 feet, against 8,990,872 feet, an increase of 527,027 feet, and the values were £107,397, against £102,664 ; there was also imported other timber to the value of £52,083 against £29,324. There was a big reduction in the ’number of motor vehicles imported, the figures for the two months being 3681, against 5202, a decrease of 1521, and the values were £542,120 against £830,928, a shrinkage of £288,808.

GOVERNMENT SECURITIES. LONDON, April 21. Apl. 21 Apl. 14

REDUCED BANK RATE. MOST WELCOME MOVEMENT FOR YEARS. LONDON, April 22. The' Times, in a leader, says tho bank rate reduction is the most welcome movement of recent years. Tho reduction is the, first definite indication of the gradual passing of the effects of the coal strike. This does not mean that the cost of the strike has been wholly met, but the monetary sky has been partially cleared, and will help to restore London’s attraction as the international monetary centre. For the present, however. London will be unable to satisfy all foreign borrowers. America must for some time remain the principal source of supply.—Times.

BANK OF ENGLAND RETURN. LONDON, April 21. The following is the Bank of England return: Issue Department. Notes issued Other securities 8,/3o, 000 Gold, coin, and bullion ... 102,244,000 Banking Department. ~ . 3,153,000 Public deposits 110 338 000 Other deposits 110 > 33 M Seven-day and other bills <>,ooo Government securities ... 37,956,000 gS “wSS Gold and silver coin ... 1,604,000 Proportion of reserve to liabilities 29.10 p.c. Short loans 3J p.c. Rate of discount for three months’ ’ bills 3| p.c.

WHEAT AND OTHER PRODUCE. LONDON, April 21. Wheat. —Cargoes are firm, but unchanged in price on sustained inquiry for Australians and smaller European shipments, and reduced bank rate. Part of Dankoku Maru’s, 54s 3d; Trelevan, 545; Transvaal, 53s 9d; part of Telamon, 53s 6d; Nowshera, 53s 3d. Parcels: Moderate request, 3d to 6d advance; ex Banffshire, bags 53s 6d, bulk, 535; ex Vedic, 53s 4d; ex Medic, 53s 3d, 53s 4id; ex Runic, ex Port Adelaide, ex Chumleigh, 53s 3d; ex unnamed South Australian 535. Liverpool futures: May, 10s -6Jd; July, 10s

4Jd; October, 10s o|[d. Spot trade is steady. Australian, ex ship, 55 l-6d. Flour. —Quiet. Australian, ex store, 40s 6d. Oats. —Steady.. Peas and Beans.—Dull. Sugar, granulated, 32s 7Jd. —A. and N.Z. cable. RABBIT SKIN SALE. WELLINGTON, April 22. The New Zealand Loan and Mercantile Agency Co. reports: A large catalogue of rabbit skins was offered at our sale to-day before a full bench of Dunedin and local buyers. Competition was keen and prices ruled firm at late southern rates and in some cases showed a slight increase. Incomings realised the excellent price of 84Jd. The range of prices was as follows:—Runners, suckers 26Jd to 33Jd, summers 29Jd to 32Jd, light racks 44Jd to 46d, heavy racks 44Jd to 48Jd, dawny autumns 49id, early autumns 69d, late autumns 79d, incoming winters 84id; hareskins 36id.

MEETING OF FLOUR MILLERS. CO-OPERATION WITH GROWERS Per Press Association. CHRISTCHURCH, April 22. At a meeting of some thirty memhers of tho industry, held yesterday, a resolution was earned. ‘“That this meeting of millers agrees wholeheartedly to co-operate with the growers to secure the beat possible price that can bo obtained to protect tho wheat growing industry. It was also resolved: That, pro vided satisfactory assurance is given bv the Government that effective steps will be taken to protect the market against importations of flour, this meeting of millers approves of the scheme as outlined by the conference.”

THE METALS MARKET. • LONDON, April 2-1. Copper.—On spot, £55 6s 10id per ton; forward delivery, £55 9s 4id. Lead.—£26 6s 3d and £26 15s. . Spelter.—£29 10s and £29 15s. Tin.—£29B 7s 6d and £293 17s 6d. Silver.—Standard, 26 3-16 d per oz.; fine, 281 d and N.Z. cable. EXCHANGE RATES.

LONDON, April 21. Foreign rates of exchango on April 21, as compared with par rates, or as average first half of 1914 are as follow: Apr. 21 Par.

Consols 54J 644 British War Loan, 3£ p.c. 99£ 994 British War Loan, 5 p.c. ... 102£ 102* Conversion Loan, 3£ p.m. Commonwealth Australia, 5£ 7bi 751 p.c., 1922-27 101 15-16 1011 Commonwealth - Australia 6 p.c., 1931-41 102 101 15-16 Victoria, 3 p.c., 1929-49 ... 72 711 Victoria, 3£ p.c., 1929-49 ... 76£ 76 Victoria, 5£ p.c., 1930-40 ... 1003 100£ Victoria, 5 p.c., 1932-42 ... 98* 98 Victoria, 43 p.c., 1940-60 ... 983 95 1-16 N.S.W., 4 p.c., 1933 92 913 N.S.W., 3 p.c., 1935 81s 814 N.S.W., 3£ p.c., 1930-50 ... 733 73| N.S.W., 5? p.c., 1922-32 ... 993 993 N.S.W., 6£ p.c., 1930-40 ... : 101 15-16 103 N.S.W., 6 p.c., 1930-40 1004 1004 Queensland, 3£ p.c., 1930 ... 94 933 Queensland, 3 p.c., 1930-47 685 683 Queensland, 6 p.c., 1930-40 101* 1004 N.Z., 4 p.c., 1929 N.Z., 3£ p.c., 1940 97J 971 H6£ 86£ N.Z., 3 p.c., 1945 76* 76 5-16 N.Z., 6 p.c., 1936-51 107£ 1071 S. Australia, 3£ p.c., 1939 ... S. Australia, 3 p.'c., 1916 834 834 or after 59 J 595 S. Aust., 6£ p.c., 1930-40 ... 102£ 1025 Tasmania, 3£ p.c., 1920-40 ... 833 83£ Tasmania, 3 p.c., 1930-40 ... 77 774 Tasmania, b£ p.c., 1930-40 ... 103 1031 W. Aust., 3£ p.c., 1920-35 ... 873 874 W. Aust., 3 p.c., 1915-35 ... 833 835 W. Aust., 6 p.c., 1930-40 .. . 102 1015

Brussels, belgas to £1 ... 34.94 — Paris, francs to £1 124 26.22 2 Stockholm, knr. to £1 ... 18.13 18.12 Oslo, knr to £1 18.72 18.12 Copenhagen, knr to £1 ... 18.21 18.12 Berlin, Roichsnmrk to £1 20.49 — 4 Romo, lire to £1 94.05 25 Calcutta, ponco to rupee 172 24 24 4.866 Yokohama, pence to yen Hong-Kong, pence to dol. 24£ 4.85* Amsterdam, florins to £1 Batavia, florins to £1 ... ■ ■■■■■ -• f V 12.133 12.107 12.12* r'^n C'l \ f ! fe' Sr