COMMERCIAL.

New Zealand Herald, Volume LVI, Issue 17139, 19 April 1919, Page 7

COMMERCIAL.

HIGH FIGURES IN EXPORTS,

PRODUCE UNDERSTOCKED*

So fax as the wholesale is concerned, business has Blackened off considerably since the beginning of the week, and only * few sorting up orders were dealt with. Booking tor' forward delivery commences nest week, and as money is particularly plentiful • very active trade is expected. Retail kept busy j right up to Thursday night, and the whole oity is now practically closed tor business until next Tuesday morning. The threatened embargo on Australian shipping was rather disconcerting, in view of tun fact that large shipments of Australian and Eastern merchandise were already delayed in Bydney and Melbourne. Any interruption would make a bad .position worse, so that any modification of the embargo will be a great relief to importers. hxports: The heavy export trade now going on has frequently been referred to lately, but it is only by comparison with previous periods that its iiiiwenso value can be fully realised, and lis consequent bearing on the financial position of the Dominion. Prior to the war no month ever came up to £4,000,000 in the value of its exports, even in the flush of the season, and in the most profitable export years tho value averaged a little under £H,OUU,OOO per month. War prices altered all that, and brought the average up to about £"2,600,000, wnile each year it has been a common thing for some months in the autumn to run into a littlo over £'■1,000,000, With these figures as a basis the ellcct of the better opportunities for shipping during the last few months will bo more clearly realised. January and February exports wore almost identical, in value, and together totalled £7,313,667. Since then the values have been really remarkable. The Gazettes just to hand complete a period of six weeks absolutely unequalled in tho history of. New Zealand trade, the value of the principal 12 products imported, omitting smaller lines, being no less than £8,460,700. Dairy produce and wool, have naturally figured very heavily in bringing up this immense total, and the values of these products exported each week, together with the total value of the principar products dealt with, mark a very satisfactory chapter in the history of our export trade. Dairy Principal Weed Ending. Produoe. Wool. Products. March 4 .. £765.718 £503,614 £1,487.281 'March 11 ~ 705,722 178,608 1,160.765 ; March 18 .. 76,024 437,220 799,104 March'2s .. 188,787 052,752 1,686,358 April 1 .. 332,587 700,141 1,399,167 April 8 ~ 862,521 1,011,790 2,078,035 The w.eekly returns read almost like the monthly returns before the war, and even thon the Dominion has been labouring under the severe disadvantage of having a totally insufficient amount of refrigerated space for shipping frozen moat. Frozen meat contributes an insignificant proportion of the above values, and at present there is ■ great anxiety throughout the Dominion in : respect to meat. The freezing works are all I full, awaiting opportunity for shipping, and I killing has beon so restricted latoly that farmors are exceedingly anxious as to 1 whether they can carry their stock through the winter, let alone retain their fat stock ;in a killing condition. Unfortunately winter feed promises to be very short this year, and permanent pasture is in a perilous condition as a result of the dry summer. The statement recently emanating from the Cambridge branch of the Farmers' Union, to the effect that cattle in the North Island had increased by 1,000,000 head, will give an idea of the difficulty now faoing the farmors, as they had increased their holding of cattle on the assumption that reasonablo facilities for export would be available. In view of tho difficulties the Ministerial representatives ,of New Zealand htive lately experienced in London, in the matter of pressing the claims of the Dominion for more shipping, it is particularly gratifying to know that during next month three extra steamers are to load here, carrying refrigerated cargo, in addition to those already listed. , , , . , , . Produce: Tho markot is understocked in many lines, on account of the delay in tho arrival of Southern steamers, but several vory useful shipments aro on the coast, and the position will be much better next week. Potatoes: A good quantity came in during the week, out as the Island boat will bo lifting some substantial orders .there will not be much loft over. Pries is a little firmer at £11 10s ex store. Onions: A few local have come in, and those aro keoping the .markot going., very few Southern are available, and price is firm at £10 10s ex store. Oats: The market is decidedly firmer in the South, and this has prevonted.a further fall locally. Not many have arrived, and the jirico remains unchanged at 5s ex store for Fowf 6, Wheat: Trice is a shade higher at 7a 3d ox store. Local stocks are light, but a few nice samples of Australian are still

offering. „ ~ Bran and Pollard: Both lines are,so scarce that great inconvenience is being caused. Prices are nominally unchanged, but consumers are often compelled to pay an extra prioo for any substitute they can EC Maise: MtvLu is unchanffod at basis price, 7s 3d ov ttie-wharf in wholesale lines. Stocks are very low, but, tho winter doinand hat really not yet set in.