AUSTRALIAN TRADE.

New Zealand Herald, Volume LXV, Issue 20024, 14 August 1928, Page 7

AUSTRALIAN TRADE.

LAST YEAR'S MOVEMENTS". HEAVY FALL IN EXPORTS. A marked change in the relation of Australian exports and imports is disclosed in a return furnished by the Commonwealth statistician of oversea trade of Australia for the year 1927-28. Excess of imports decreased during the year by over thirteen millions to £6,521,390. Actually both exports and imports were lower in value. Exports of merchandise showed an expansion of £5,258,727, but this was more than offset by exports of specio and bullion to give a net decrease of £3,300,024. tho total of exports being £141,595.159. The most important factor in the movement in trade camo from imports of merchandise, which fell away by £17,012,184 to £147,115,575. As £412,139 more gold was imported during the period, imports totalling £148,116,549 showed a decrease of £16,600,045. Tho main items contributing to tho export trade—wool and wheat—moved irregularly. Duo to tho higher prices obtained, the value of wool exported increased by £5,447,916, of which greasy wool accounted for £5,356,598. The poorer harvest last season resulted in wheat sent oversea being valued at £6,155,515 less,Exports of sheepskins increased by a million sterling, but rabbitskins fell away Of dairy produce butter worth £1,438,571 more was exported. Under the heading of preserved meats, beef showed an increase, while lamb and mutton were lower. Dried fruits decreased slightly; A decline of over £1,000,000 appeared in Hour.

Prominent in the decline in exports was tho class metals and manuafcturers other than machinery, which foil by £8,469,804 Included in this is a decrease of £5,627.638 in motor-car chassis. Oils, fats and waxes were lower by about £1,000,000, half of which was accounted for by petrol. The class apparel, attire, textiles arid manufactured fibres fell by nearly £4.000,000.

PRODUCE IN LONDON. LATEST QUOTATIONS FOR HEMP. [by telegraph.—own correspondent.[| WELLINGTON. Monday. The Department of Agriculture has received the following cablegram, dated August 11, from tho High Commissioner for New Zealand, London;— Tallow.—Auctions resume next week. The market is quiet but steady. Present quotations are:—Mutton: Fine, 43s 6d to 44s per cwt.; fair to good, 40s 6d to 435; dark to dull, 38s to 38s 9d. Beef: Fine, 44s to 455; fair to good, 38s 6d to 425; dark to dull, 37s 6d to 38s; mixed, fair to Rood, 38s 6d to 425; dark to dull, 36s to 38s 9d. Hemp.—Manila: The market was quiet; tendency firmer at the close. J grade, An gust,-October shipment, is quoted at £37 buyers. Sisal: The market was steadier and closed firm. Spot ,and afloat, are quoted at, by sellers, No. 1 £34; No. 2, £32 ss; AugusLOetober shipment, probably 5s more. Tow: Quiet business at £26 to £26 10s for No. 1 for shipment. Fair quantity of spot is available, but buyers are not interested. New Zealand ; Small sales arc reported in high points for August-October shipment at £3l ss. Other values unchanged. Wool. —The Bradford market is very quiet and prices for tops remain unchanged except 64's warp, which is 4s sd. DAIRY PRODUCE PRICES. LONDON MARKET VALUES. A. S. Paterson and Company yesterday received the following cablegram from «T. and J. Lonsdale and Company, Ltd., London:—Butter: The market is steady. Tho supply exceeds the present demand. Danish, 178s, f.0.b.; New Zealand, 180s to 184s; Australian, 1725; Siberian, 1585.' Cheeso: New Zealand firm, small supply, 110s to 112s; Canadian, dull, 108s, c.'i.f. Amalgamated Dairies, Ltd., received the following cablegram from their London house, dated August 11; Butter: Prices unchanged (finest, 186s). The market has a better tone and the demand is improving. Danish, 183s, spot; 178s, f.0.b.; stocks cleared. Deliveries of New Zealand butter during the week totalled 744 tons; 5668 tons are held in stock. Retail prices are unchanged. Cheese: The market is firm at Ills to 112s. Canadian, 110s to 112s, spot; 108s, c.'i.f. Retail prices are unchanged. The Tasmania (outports) and Matakana (Londou) have arrived. Shipments of butter which arrived in the United Kingdom from the Argentine during the week amounted to 75 tons; dairying prospects are reported to be favourable and production increasing. New York quotations Extras, 46J cents (equivalent to about 159s in London). Montreal, cents. Canadian stocks on August 1 were estimated to be 2000 tons short, as compared with stocks on the same date last year. United States stocks are about 10,000 tons short. The Bank of New Zealand received the foliowing advice from its London office as at the close of business last week:— Butter: Steady; 182s to 184s per cwt. Cheese: Firm; 110s to 112s. Joseph Nathan and Company, Ltd., received the following cablegram from Trengrouse and Nathan, Ltd., London: — Butter, 184s; chccsc, 112s; the market is quiet.

AUCKLAND COMPANIES. SEVEN NEW REGISTRATIONS. The following new companies Have been registered in Auckland: — PUBLIC. Zealandia Clothing, Ltd., clothing manufacturers, mercers, etc. Capital, £25,000 in £1 shares. Subscribers :—C. J. Palmer, D. Syme, J. H. Thompson, N. A. Dntbie, R. Boucher, G. H. Gladding and H. R. A. Vialtfux, 1 share each. Fijian Pineapple Plantations, Ltd., buyers, growers, shippers of fruit. Capital, £25,000 in £1 shares. Subscribers: — B. L. Hewitt, I). L. Nathan, N. A. Nathan, A. L. Pike, E. Davis, C. C. Gorrie and G. S. Kent, 1 share each. Terrace Gold Dredging Company, Ltd., formed to carry on the business of the New River Gold Dredging Company, Ltd. Capital, £50,000 in £1 shares. Subscribers:—G. C. W. Morris, E. A. Craig, J. A. Peacock, J. M. Wilson, C. Adams and F. G. Binney, 1 share each. Alburnia Gold Mining Company, Ltd. Capital, £27,000, divided into 180.000 shares of 3s each. Subscribers: —ll. R. Cooke, W. J. Urquhart, F. W. Wister, R. S. Thorburn and C. Adams, 100 shares each; J. A. Gentles and A. R. Martin., 1 share each. PRIVATE. Kaikoho Development, Ltd., to acquire 621 acres at Ohaeawai, Bay of Islands, and carry on mining operations. Capital, £25,000 in £1 shares. Subscribers: —Sir Harold Beauchanip, 24,980 shares; R. H. Goodwin and C. E. Campbell, 10 shares each. Roberton Farms, Ltd., to acquire a farm property at Pukeatua. Capital, £IO,OOO in £1 shares. Subscribers: —B. H. Roberton, 6000 shares; A, B. Roberton, 3475 shares; M. S. M. Roberton, 500 shares; I. E. Roberton, 25 shares. Sterling Stores, Ltd., storekeepers, general merchants and dealers. Capital, £IO,OOO in £1 shares. Subscribers: —J. Sterling and H. W. Carstairs, 5000 shares each.