INTERNATIONAL TRADE.

New Zealand Herald, Volume LXIV, Issue 19780, 29 October 1927, Page 9

INTERNATIONAL TRADE.

CONFERENCE ON ECONOMICS. REPORT BY AUSTRALIANS. ( t ———— f A. and N.Z. CANBERRA. Oct. 28. The report of the Australian delegation to the International Economic Conference, held at Geneva in May. was to-day presented in the House of Representatives. It deals with the economic conditions of the countries represented at the conference. The report expresses the opinion that of all the European countries only France, Italy and Sweden appeared to haye retained or increased their production. Germany had not maintained a favourable trade balance. The production in the United Kingdom had been generally lower. The war had reinforced the continuous tendency for raw material to be worked up in the country of its production tn stead of it being sent to Europe" for manufacture. Advances in technique which had resulted in the increased use of hydroelectric power and petroleum had caused a reduction in the demand for coal. Increased tariffs outside Europe, frequent alterations in tariff schedules, unstable currency conditions and frontier changes are also advanced as reasons for the present unsettled conditions of com merce and industry The trouble now was neither any material shortage in natural resources nor human inadequacy to exploit them, but hindrances of the free flow of labour, capital and goods. The removal of these obstacles required international action. **'

HAURAKI-ALASKA MINE

ELECTION OF DIRECTORS. t The first general meeting of shareholders in the recently floated HaurakiAlaska Goldminging' Company, Limited, was held yesterday, Mr. 1. Restall, presiding. Tho chairman said arrarigements for plant were well advanced and it was hoped to commence mining early in March. If anticipations were realised it was hoped that overseas capital might be introduced. k It was stated that four essays of one section of the area to' be wo\*ked had shorni an average yield of 30s a ton. Shareholders expressed th« opinion that a. handsome profit could be cleared if this figure was approached in general operation. The following were elected directors:— Messrs. F. Restall, A. Burt, L. V. Ellis, E. W. Inder, A. A. Gray and G. A. Lee.

The Hauraki-Alaska Company was formed this year with the object of working low grade deposits by new methods at Neavesville, Thames. The capital of £15,000 is in shares of one shilling each. The intention is to use machinery similar to that operating in the Alaska-Junean mine, Alaska. This company has worked ore worth only 3s 8d a ton and has claimed to have derived z profit of s£d a ton. CANTERBURY MARKETS. QUIET TONE OF BUSINESS. [BY TELEGRAPH. —PRESS ASSOCIATION.] CHRISTCHT7RCH, Friday. There is little of interest occurring in the produce markets. The potato-market is a little brighter The f.0.b., s.i. price for this month is ranging about £4 2s 6d, at which figure growers are loath to undertake the cost of repicking. There has been a good deal of forward business done in next season's potatoes at £3 10s on trucks for April-June. After this year's debacle growers ar® anxious to have some- idea of what their return is going to be. The forward wheat business is somewhat easier. The current quotation locally is 6s a bushel, f.0.b., for ordinary months, but this price has been paid on trucks for early wheat from the drier districts. Many farmer's are prepared to sell at 5s 9d on trucks, for ordinary months. Business in last season's wheat is small, but a few of the firmer holders are quitting at 6s 3d on trucks for Tuscan. Oats are weak, although consignments are still going to Australia from Southern districts. These, however, represent business transacted some time ago. Up to 3s 5d for A's and 3s 3d for B's cover f.0.b., s.i. values Advantage was taken of the cheap October freights to England to despatch fair quantities of barley. The price showed no profit, but the shipments performed a useful service in reducing the heavy stocks on hand.

Seeds keep firm, although business has become quiet. The stocks of best cowgrass have been depleted by the export Home, and North Island inquiries arc being met with stuff not up to export standard. Perennial ryegrass is also being sold to the North, prices being unchanged. A crop that is becoming of main importance is peas, a heavy area of which has been sown on contract at 5s 6(1 to 6s a bushel on trucks. " PRODUCE IN DUNEDIN. POTATO MARKET DULL. [by telegraph.—OWN CORRESPONDENT. ] DUNEDIN. Friday. l'he position in the local wheat market is unchanged. There is nothing offering from farmers, and odd lines of Tuscan of milling quality, which for various reasons have been offered back to the market, have been sold at up to 6s yd ex store. Supplies ol fowlwheat are sufficient for the demand, at about 6s 6d per bushel, sacks extra, ex truck Ounedin. Most of the merchants have now cleared out their stocks of oats from stores, and as there is nothing offering from growers there is not the rush usual at this time of the year to dispose of stocks to make room for the wool clips. The demand from New Zealand buvers has been most disappointing right through the season. The bulk of the oats from Dunedin and the Bluff have been sont overseas this season to Australia and England. lhis outlet has proved very welcome in view of the local position. Oat stocks in Canterbury are also ugnt, but as oats are held there by farmers a certain quantity of these will no doubt come on the market before the end of the year To-day's nominal quotation is: A's, 3s 6d per bushel, f.0.b., s.i., and B's, 3s 4d, but any sales in the past few days have been at lower prices. These prices are equivalent to 2s 8d and 2s 6d respectively, sacks extra at country sidings. The wholesale price for chaff to-aav is about £5 5s per ton on trucks. Supplies are small but quite sufficient to meet the demand.

Holders ot potatoes who anticipated a firming in the market during the later months of the season have been disappointed. as the market shows a decided weakness and this in spite of the fact that stocks in the local stores are not heavy, (rood quality fresh tables picked over are worth up to £5 per ton, sacks included. cx store. Medium and poor quality are hard to place, and no reasonable offer is refused The market is being supplied chiefly with consignments from I'nnterhury merchants and growers. In the wholesale seed market thd agents are at present engaged in delivering orders received earlier in the season Perennial and Italian ryegrass, cocksfoot and cowgrass are firm in price at recent rates. The local market for these lines has been improved by the unfavourable weather conditions in England.

NAPIER HARBOUR LOAN. A. and N.Z. LONDON. Oct. 27. Applicants for the Napier Harbour Boara loan have been allotted 50 per cent, of their applications. The first dealings reached a premium of 15s.