HOW WAR AFFECTS TRADE.

New Zealand Herald, Volume LI, Issue 15737, 12 October 1914, Page 8

HOW WAR AFFECTS TRADE.

FINANCIERS UNEASY. FEARS FOR GERMAN CREDIT. RATES OF-EXCHANGE. New York, October 9. A sharp decline in the rate of exchange on Berlin is believed to be due to the holders of the bills of exchange, fearing that the impairment of German credit and the drain on the gold supply which would result from the heavy war indemnity demanded if the allies be victorious, selling freely to avoid loss.

GERMAN SUGAR TRADE. ! A BRITISH PROPOSAL. TEN FACTORIES WANTED. (Received October 11, 10.30 p.m.) London, October 10. The secretary of the British Sugar Beet Council advocates the establishment of ten factories, costing £4,000,000, within two years. These factories should produce about 100,000 tons per annum. About half the beet sugar produced in the world comes from Germany and Austria Hungary. In 1908-1909 6,818,468 tons were manufactured, and to this total Germany contributed 2,095,959 tons and Austria Hungary 1,376,501 ton?, Russia coming next with 1,237,57/0 tons. The average output per year from 1902 to 1909 was 6,332,455 tons and of t!Ks Austria Hungary manufactured 1,236,172 tons, Germany 1,990,637 tons, and Russia 1,194,105. tons. Tho United Kingdom imports about 526,451 tons of raw beet and 1,079,533 tons of refined beet yearly, besides about 500,000 tons of raw cane and 1000 tons of refined cane. A quantity of sugar-beet is grown in the south of England.

NO TRADE WITH GERMANY. BRITISH AUTHORITIES ACT. CERTIFICATES DEMANDED. (Received October 11, 8.45 p.m.) London, October 10. With a view to checking any tendency to trade with the enemy through neutrals, a Gazette .order has been issued requiring all exports to bear a certificate that they are not intended for the enemy. A similar order has been made in respect of imports, excepting foodstuffs. OIL FOR THE ENEMY. THROUGH SCANDINAVIA. AN AMERICAN CALCULATION.; (Received October 11. 8.30 p.m.) ' . New York, October 10. The shipments of oil/to Scandinavian countries 'has increased since the war broke out to a volume twice as great as the average. It is believed that, Germany is obtaining supplies in this way. , METAL FOR THE GUNS. PRINTING HOUSES RAIOED. GERMANY'S DIFFICULTIES. Times and Sydney Sim Services. London, October 9. German trade papers state that in consequence of the enormous expenditure in rifle ammunition, formes of type in • scores of printing houses, and the zinc and copperplates used in music printing have been seized, AMERICAN WHEAT. OFFICIAL FORECAST.

NOTHING FOR GERMANY. New York, October 9. The Government crop reports forecast a yield of 892,000,000 bushels of wheat. This exceeds the previous maximum production by 118,000,000 bushels.' The authorities predict that the bulk of tho surplus will go to England and France, and they do not expect a bushel to reach Germany.