DOMINION'S TRADE.

New Zealand Herald, Volume LXIV, Issue 19797, 18 November 1927, Page 9

DOMINION'S TRADE.

FURTHER IMPROVEMENT. * . , . #I .v • o vT* \ RETURNS FOR 10 MONTHS. GAIN OF £5,708,642 SHOWN. '' ' '' ' [BY TELEGRAPH.—PRESS ASSOCIATION.] WELLINGTON. Thursday. Returns furnished by the Custpms Department show that during the 10 months ended October 31 imports into New Zealand were valued at £37,272,274 and exports at £40,255,995, compared with £41,741,128 and £39,020,207 respectively for the corresponding period of 1926. Imports during October amounted to £3,588,235 and exports to £2,343,307, compared with £4,336,760 and £1,673,287 in October last year. As the excess of imports in October was £1,244,928 as against £2,663,473 in the corresponding month last year, there is a further sum of £1,418,545 to add to the improvement in the trade position shown at the end of nine months, when the apparent balance was better to the extent "of £4,290,097 than for the same period of 1926. The position at the end of the 10 months is an apparent excess of exports of £2,987,721, as against an excess of imports of £2,720,921 last year, representing a net . improvement of £5,708,642. This comprises an increase in exports of £1,239,788 and a reduction of imports by £4,468,854. Imports in October were the lowest for that month since 1922, while exports were the highest since 1924. * Following is a summary of the returns for periods of 10 months in the last five years:—

As the calendar year comprises portions of two seasons of production, returns for the .period beginning July 1 are interesting. For the four months of the new production year exports show a slight increase, while'imports, normally predominant in this period, are lower by nearly £2,000,000. The apparent adverse balance has been reduced by £2,073,258. Returns for this period of the last five years are as follows:

The improvement in the position may he illustrated by reference to the proportions of exports to imports. In the four spring months of 1925 exports were equivalent to only 43 per cent, of imports; in 1926 the proportion was 56 per cent.; this year 64 per cent, of the imports were balanced by exports. PRICE OF POUND STERLING. RISE IN AMERICAN MARKET. A. and N.Z. NEW YORK, Nov. 16. The sterling exchange to-day reached 4 dollars 87 3-16 cents, the highest point since 1914. Financial circles regard the rise as being partly due to the recent calculation by the Department of Commerce of the United States visible and invisible international payments in 1926, ydiich made the year's net credit to the United States on all accounts, except the flow of capital, only £2,600.000. This is regarded as being more than offset by i the net export of capital for investment from America, which amounted to ! £104,400,000. Authorities say that in spite of the latest rise, the: sterling exchange is still far from the point where it would pay Americans to ship gold, in preference to purchasing sterling bills. AMERICAN SHIPPING. TRADE IN PAST YEAR. A. and N.Z. WASHINGTON, Nov. 16. The United States Shipping Board announces that American vessels carried less than one-third of America's foreign trade ti 1926. A survey"shows that's76l ships, aggregating 26,330,000 tons, handled the nation's foreign trade. Of these, 1678 ships, totalling 7.336.000 tons, were American owned. The shipping costs to the United States in 1926 amounted to more than £145,600.000. Foreign shippers received more than £96,000,000 for carrying United States goods.

WORLD'S SUGAR OUTPUT.

PROPOSED REGULATION.. At the request of the Cuban Government, efforts were recently made to induce the five largest sugar producing countries to come to an agreement to regulate world production of sugar to estimated world requirements. As a sign of its good faith the Cuban industry; which is by far the largest producer, recommended Congress to issue an order limiting production in the island next season. No figure has yet been given officially, but it is stated that a production of 4,000,000 tons will be aimed at, of which 150,000 tons would be reserved for island consumption and 3,500,000 tons marked for export. The balance of 350,000 tons would be under the control of an official committee, to be dealt with as world conditions require. A Paris cablegram published on Wednesday stated that representatives of various sugar exporting countries had agreed to support the Cuban policy. CHICAGO WHEAT MARKET. A. and N.Z. CHICAGO. Nov. 16. Wheat.—December, 1 dollur 27| cents per bushel; March, 1 dollar 31| cents; May, 1 dollar 34§ cents. PROPERTY SALES. C. F. Bennett, Ltd., will offer at auction at their rooms, New Zealand Insurance Buildings. at 1? o'clock to-dayßy order of the Auckland Harbour Board, 11 allotments, LJ . acres to 21 acres in Waikowliai Park, Mount. Boskill with frontages to Manukau Harbour. to bo offered on 50 years leases, or 84 years leases in 21-year periods' Commander R. W. Moorkouse's riverside property at Albany, comprising 169 acres, witb private wharf and residence of 8 rooms and furnishings, and other buildings; •in deceased person's residence of 10 rooms on freehold section of J-acre in Pah Road, Epsom: bungalow of seven roomß at 132. Wheturangi Road. Epsom, on section 86ft. by 170 ft., Glasgow Jease, , William A. Horne, Ltd., will offer at auction at their rooms. Home's Buildings, corner of High Street and Vulcan Lane, at one o'clock to-day Villa of 6 rooms, on freehold section 69ft. by 165 ft., corner of Hauraki Street and Brassey Road. Birkenhead; semi-bungalow of 5 rooms, on section 66 by 208 feet; semi-bungalow of 6. rooms on section 60 by 200 feet: bungalow of 4 rooms on section 60 by-203ft., all in Massey Road, Manurewn- tsf acres of land, with 66ft. frontage to Grcwit South Road, Manurewa: under conduct of the Begiatrar of the Supreme Court, 253 acies freehold, tin-' improved, on the north Bide of East CoastBirltenhead Road, near Cut Bill; also by order of the vendor, dwelling-house on section of 31.3 perches, in Hendon Avenue, Mount Albprt. » \ j >V. T. Mahdeno Jackson will offer at' auction at their rooms, 9, Commerce Street, at 11 o'clock this morning, a large nunVber of lots on the Manukau Beach Estate, Mancere Samuel Vail and Sons, Limited, will offer at auction at their rooms, at 2 o'clock to-day, a buncralow of four rooms, in Speight Road. Kohimarama; section, fronting Gladstone Road ; Mt. Albert. 122 ft. sin. x depth of 271 ft. llin., corner block of land fronting Shelly Beach Road,- 104 ft., and Jervois Road, 214 ft. 9|in.: also. at the reaueat of the mortgagee, tinder conduct of the Registrar of the Supreme Court, house of five rooms, at corner of Virginia Avenue : and Fleet Street, Eden Terrace, and bungalow of sis rooms, in Fratcr Avenue, Miliord. ■

Ten Excess. Months. Exports. Imports. 1923 £39,720.215 £35,§75,309 £3,744,906 1924 43,984,303 40,220,427 3,763,879 1925 40,149,845 42,980,176 3,169.763 1920 39,020.207 41,741.128 *2.720,921 1927 40.259,995 87,272,274 2,987.721 'Excess of imports.

JulyOctober. Exports. Imports. Excess. 1923 £8,637,836 £15,078.842 £6,441,006 1924 10,423,312 17,576,024 7.152,712 1925 7,751.680 17,964,891 10,213,205 1926 9,547,373 17,024,548 7,477,175 1327 9,667,653 15,071,570 5.403.917 * .