RUBBER FROM PANAMA.

New Zealand Herald, Volume LXIII, Issue 19384, 20 July 1926, Page 9

RUBBER FROM PANAMA.

CONCESSIONS TO BRITAIN. CRITICISM IN AMERICA. STATEMENTS" AND A REPLY. [from our own correspondent.] 9 SAX FRANCISCO. Jane 16. The echo has hardly died down from the sound of the nation-wide protest in the United States against Great Britain's monopoly in the rubber production, when another breaks out concerning the granting of concessions to Britain in valuable rubber lands, said to be among the best in the world, in the Panama zone, the most delicate of the parts of the Pan-American fabric. Although it is over a year since the concessions were granted to British capitalists, the news did not become known in America unti. a week or so ago. As a matter of fact, the disclosure synchronised with the remarkable records in heavy gunnery achieved by the Pacific Squadron, in the last battle tists of the year, in which the United States Navy is certified to be at the peak of its efficiency, compared with past history.

At once, as might be imagined, the extreme view of the possibilities arising out of the concessions was taken. Senator Borah, always a sharp critic, if not actually a hostile one, of Britain and British policy, said that the concessions were taken out to give Great Britain a holding near the Panama Canal, that it was a breach of the Monroe Doctrine, and that the United States Government should take such steps even at that late hour, as the requirements of the tactical situation demanded. Other Side of the Case. Then, when the public temper was aroused, the other side of the case was ventilated, showing, on the word of representative Britishers concerned, that neither was the granting of the concession a permit to make the Canal less tenable by America, nor were the negotiations secret, as far as the United States were concerned. The two persons chiefly concerned are Sir Alfred Mond and Mr. Duncan Alves, chairman of the Panama Corporation. The latter has been in Central America, in a business way, for a number of years, and was associated with the development of oil in Venezuela in 1914. He is equally familiar with the north, west and south shores of the Gulf of Mexico and the Caribbean Sea. Mr. Alves, discussing Senator Borah's outburst, said the concessions were secured, following an exploration he and Sir Alfred Mond made some months ago to develop the oil and' mineral resources of the country. The British Government, he declared, was unaware that the negotiations were going on until they were completed, and had not the slightest interest in challenging the Monroe Doctrine or gaining a foothold near the Canal. Evidence oi Good Faith. As a matter of fact, declared Mr. Alves, there was a clause in the contract, i prohibiting Government interference. He claimed that the good faith of the step taken by the corporation was shown by the fact that large American financial interests were kept posted on each stage taken. Not one dent was paid to the Panama Government. The capital of the corporation, floated last year in London, is £2,000,000, and the concession runs for ten years. THE TRADE OP FIJI. CHANGES IN FIVE YEARS. SOME MARKED DECREASES. [from our own correspondent. ] J3UVA, July 12. The returns of the total trade of Fiji for 1925 provide interesting readme, The leading feature of the trade returns for the past five years show that trade with some centres, including Britain, Australia and New Zealand, shows a decided decrease. In 1921 the United Kingdom received goods valued at £166,512. This fell to £142,117 in 1922, to £58,159 in 1923, and as low as £21,239 in 1924. In 1925 it rose to £57,385. The exports to Australia show an even more pronounced decrease. In 1921 the total reached £231,582. In 1922 it dropped to £86,648, rose to £103,874 in 1923, then fell with a crash in 1924 to £39,988, and still lower to £31,836 in 1925. The chief cause of this great depreciation in exports is regarded as due largely to 'the action of Australia in placing such a high import duty upon Fiji bananas as to exclude them from the Commonwealth. The people of this colony took this action so much to heart that the Commonwealth' has been practically boycotted by local business men. If the duty were removed it is possible that even at this late stage a revival might bo possible. New Zealand also shows a reduction, as in 1921 the total trade was no less than £1,842,288. In 1922 there was a big fall to £1,231,466 * and lower in 1923 to £941,860. A minimum was reached in 1924 when the total was £786,849. In 1925 trade revived to the extent of £1,024,466. Tonga fell from £19,984 in 1921 to £15,974 in 1925. United States fell from £119,776 in 1921 to .£39,872 in 1925. Of increases Canada went from £125,050 in 1921 to £505,009 in 1925. Europe, for copra, went from nil in 1921 to £424,923 last year. The total trade of the colony for the year, while showing a decided increase for the year over 1924, is £2,156,257 as against' £2,540,653 in 1921. AUCKLAND GAS COMPANY. INTERIM DIVIDEND DECLARED. An interim dividend for the half-year ended June 30 at the rate of 8 per cent, on the fully paid shares and a proportionate amount on the contributing shares was declared by the directors of the Auckland Gas Company yesterday. The dividend is payable on July 28. It was reported that the increase in consumers during the past six months had very satisfactory, while the applications for extensions of the mains had been greater than during the previous six months. The sale of water-heaters and gas-cookers had also shown a satisfactory increase, while there was a rapidlyincreasing demand for gas for industrial jjurposes. DAIRY PRODUCE PRICES. LONDON MARKET VALUES. [BY TELEGRAPH. —I'P.ESS ASSOCIATION.] WELLINGTON. Monday. , The New Zealand Dairy Produce Board | has received the following cablegram from its London office dated July 17:— ' Butter. —New Zealand, "fresh, landed, 170s; some stored is selling at 167s to 168s; Australia, 164s to 168s, nominal: Danish. 1725; Irish, 160s to 1625; Estonian, Latvian, 150s to 1525; Dutch, 158s to 160s; Argentine, 154s to 158s; Siberian, 138s to 1445. The market is still quiet, but there is a slightly better tone. Retail prices are unchanged. Cheese. —New Zealand, white, 88s; coloured, 83s. The market is quiet and the price of coloured is affected by the flush of Cheshire,, Canadian, 82s to 83s. Retail, lid and Is.