CONDITIONS IN CANADA.

New Zealand Herald, Volume LXV, Issue 20028, 18 August 1928, Page 9

CONDITIONS IN CANADA.

ENCOURAGING OUTLOOK, HEAVY BUILDING CONSTRUCTION. A highly favourable situation has developed in Canada as the result. of three years' expansion,. according .to •an account of the Dominion's business ..conditions and prospects, written for the London Financial News "by Sir F. Williams-Taylor, general manager of the Bank of Montreal, on Junsr 22. : He says the commercial outlook is. encouraging. Manufacturing industries- are well 1 .employed; the output of paper mills keeps up; building operations^outstrip ; in value those of any preceding year; mining operations grow in volume and , value, while new developments are on a largo scale; foreign trade is larger in the aggregate; farm products have fair prices; considerable railway " construction is under way; tourist travel promises to exceed previous records. There is ample bank credit for legitimate enterprise and current business requirements, and no better evidence of thrift can be had than the steady rise in savings deposits. An incident of tho month has been resumption of cattle shipments to Great Britain, some 300 head having been exported, a trial which may be followed up. Last year no cattle went overseas. Crop prospects are good. In the Prairie Provinces an increased area has been seeded, soil conditions are fav--1 ourable, and prospects of a large crop excellent, but it is premature to prognosticate tho harvest. In the central and eastern provinces seeding and growth have been retarded by rairi and cold, but the more favourable- weather of June has advanced-vegetation.-Building .construction this year for Oftt.runs any previous record, permits issued in 63 Canadian cities having had a value of £10.300,000 in the four'months ended April 30, or £1,600,000-more than "last year. This activity in construction has been reflected 'favoiirably in all allied industries and trades. It may be added that building ' contracts, distinct from permits, are reported for the elapsad live months of this year as £39,300,000, or 41 per cent, more than in the corresponding period last year. The general activity is having a favourable effect on the production of primary iron and steel. The newsprint output of Canadian mills continues on a large scale'. In May, production of 203,811 tons exceeded that of any previous month;; and' was the largest on record. Yet production was only 80.8 per cent, of -capacity, and the capacity is still being, increased by construction of new and enlargement of old' mills. "It is only two years • since Canadian output ol newsprint exceeded that of the li , l^ e , States,, and. it. Js Jnterestmg to note ..that in May United States production of 126 000 tons compared with Canadian production of 203,800 tons. Canadian mills produced _ 146,000 tons more than in the like period last, year, being an increase of 18 per cent. The continuous increase of imports has been a notable feature of recent years indicating better business conditions, but also reducing the favourable balance of trade to a vanishing point. In the two months to May 31, imports exceeded exports by £3.000,000, while a year ago in the same period there of exports over imports of £3,700,003.

CANTERBURY MARKETS. LITTLE CHANGE IN WHEAT. [by telegraph.—press association.'] ... CHRIST CHURCH, Grand National "tveek at Christchur'ch is always a quiet time with the gram _and seed merchants,, and most of tho offices have been closed for several days this week. There is little change m the wheat market, which continues quiet. Plenty, ; of wheat is offering, but buyers are not very anxious, • and the price remains on. a- par with recent quotations. Recently it has been reported that Distributors, Limited, is likely to go out of ' existence. This company has been the. selling agency for the flour mills under agreements which have been in force for the past six years. These agreements, have covered the output of mills in flour, bran and pollard. They are how running out,, and the question of their renewal is the subject- oi 'negotiations. "... - Potatoes show a slight improvement on last week, but the prices have not altered to an extent worth mentioning. Shipments to Auckland have eased off, giving Northern merchants a chance to clear stocks. The Katoa, which left for Auckland last • Friday, ■ took 900 sacks from 'Lyttelton' and 2000 from ' Timaru. The Kaitoke should leave Lyttelton for _ the North on Monday or Tuesday, but she will not take a large, quantity. ( The oats and'seed markets are very quiet. . • Chaff is still worth about £3- 15s to farmers.

• ' STOCK SALES. ' CLATJDELANDS AND HIKUTAIAi •The Farmers' Co-operative Auctioneering Company, Ltd., report having held ita usual Claudelands stock sale yesterday, when an average yarding came forward. Quotations:—Fat cows, £l2 2s Gd to £l3 7s 6d; medium, £8 10s to £11; light, £6 fcs to £7 15s; cows, fresh-conditioned. £5 lis to £G; stores, £3 6s to £4 10s; others, £1 12s Gd to £2 19s; dairy cows, close to profit, £S to £l3 ss; heifers, close to profit. £8 to £10; cows, in milk, £G 10s to £3. _ The company reports having held its usual Hikutaia stock sale on Wednesday, - when a heavy yarding of all classes came forward. Dairy cattle of quality met with good competition, while the demand for fat cattle was keen. Quotations:— Sheep: Fat hoggets, 32s 6d; two-tooth, forward-condi-tioned wethers, 23s lOd. Cattle: Medium fat bullocks, £l4 7s; heavy fat heifers, £8 2s to £9 10s; medium fat cows, £9 liii to £lO 7s; lighter, £7 5a to £8 14s; tollable cows, £5 7s to £6 8s; forward-conditioned, £4 6s to £4 18s; store cows, £2 Gs to £3 8b; Loners, '2sa to Sss. Dairy cows: Choice Jersey cows, close to profit, £l2 10s to, £l4 15s; later calvers, £7 to £9 10a; Shorthorn cows, £8 10s to £lO 10s; Holstein cows, £8 to £9 15s; Jersey heifers, close :to profifit. £lO 10s to. £l2; Holstein •■heifers,' closo to profit, £9 to £lo'lss;' Shorthorn heifers, £7 ,10s to £9 10s.' Pigs: Good stores, 368. to £2; others,.3ls to 335; slips, 2is lo''24si wejinera, 10s Gd to 16s. VALUES AT PEILDING., [BY TELEGRAPH. —KRESS" ASSOCIATION. [] FEILDING. Friday. There was a small yard ins of. sheep and a medium yarding, of cattle at' tha -Feilding stock sale to-day. Sheep wero not in such keen demand as at late sales and: several pena were passed in. Fat shorn lambs made 23s 3d 2i?s. 32s 3d to 355: fat wethers. 365,' 6d, 375, 38s 7d. 39s 9d to 40s 3d: fat ewes, 28s 6d to 3-ls C<f: ev/ea with b.f lambs, 47s to 48s; wether lambs, ;GSS lOd. There was a fait entry of dairy cattle". -. Springing heifers sold'well'at- prices ranging' from £S to £l3. Fat cattle were in demand at lato rates. ~ , .•, . , PROPERTY SALES. A property at 113 and 117.' Parnell Road, comprising two shop premises on a freehold section of 51ft, frontage., was, sold at auction by C. F. Bennett, Xitd., yesterday, for £1450'. The houso; property at 10, Portland Road, Remuera, did not reach the reserve and was withdrawn. ■ ■ Spirited' nil-round bidding resulted at the auction sales held- yesterday byv Samuel Vailo and Sons, Limited, and, there much stronger tone in tho market, A house property at 31.- Liverpool ' Street, 'was sold for. £IOOO after keen s bidding.- Two residences at Shore 'Road, Remuera, were offered, but wero withdrawn. A fourroomed bungalow .at the corner of St; Luke's Road -and Lyon' 'Avenue. Mount Albert, failed to reach tho reserve, and was passed in. A three-roomed cottage property ,at St. Georgo's Road', A'vondnlo, on Imlf-aii-ac.ro of land, "was sold for £630. Palethorpo and Parkes offered at miction yesterday a property at 36. Surrey Street, comprising a residence of six rooms, Bidding reached £BOO. at which prico tho property was withdrawn. Richard Arthur. Limited, sold at auction yesterday a property at Laurence Street, Heine Bay, comprising a five-roomed .villa and section. 67ft. hy 102 ft., for £.1250. A bungalow at Green Lane realised £lo—o.