EXPORT VALUES.

New Zealand Herald, Volume XLV, Issue 13834, 21 August 1908, Page 5

EXPORT VALUES.

DISCREPANCIES IN RETURNS.

An important matter is referred to in a letter which the Wellington Chamber of Commerce- has written to the Auckland Chamber, at the request of the Secretary of the Customs Department. The letter states that the Customs Department i showed every willingness to assist in mak- i ing the statistics of exports as nearly accurate as possible, as regarded the valuations, but the Department raised the question whether the basis of valuation ought to be the actual value at the time of shipment, or an average price representing the : average of such valuations, with a percentage added or deducted, according as the market had risen or fallen in the interval. If exporters' valuations for greasy wool were found to average 8d per lb, and it was known that since the end of the quarter there had been a fall or a rise equal to 25 per cent., should the recorded value, in the opinion of the Chamber, be taken as the value at time of shipment, or\an average of 6d or lOd per lb, according as the market was higher or lower? In a further letter the Wellington Chamber stated that the Customs Department was troubled at the discordant results of valuations of wool exports as they appeared in the statistics for the March quarter. Under the suggestions of the Wellington Chamber, the Wellington shipments averaged 6.04<1, while those from Auckland were returned at 8.43 d, a discrepancy perplexing to the compiler of statistics. .The Auckland Chamber was asked to state what it considered, according to the subsequent state of the markets, would have been reasonable, valuations for the March quarter, so as to represent, as nearly as possible, what the Dominion would actually receive for the wool. When the letter was laid before the Auckland Chamber yesterday, Mr. J. B. Macfarlane said it was almost impossible to give an accurate idea, as much of the wool from here was sent on consignment, and a shipper could give no return of value till the wool was sold in London. The matter was referred to the Exports Committee for report.