BRITISH TRADE.

New Zealand Herald, Volume LXVII, Issue 20539, 14 April 1930, Page 7

BRITISH TRADE.

RETURNS FOR QUARTER.

ALL-ROUND DECREASES. (Received April 13. 5.5 p.m.) LONDON, April 12. Tlic Board of Trade returns for March, 1930, show that compared with March, 1929, imports decreased £5,153,000, exports £4,677,000 and re-exports £2,326,000. The principal decreases were:—lmports: Food, grain and flour, £761,000; food anrl drink (non-dutiable(, £2,367,000, (dutiable), £723,000; raw cotton, £3,911,000; oil seeds, £1,045,000. Exports: Raw wool, £419,000; cotton yarns and manufactures, £2,580,000; woollen yarns and manufactures, £898,000. The chief increases were:—lmports: Meat, £1,668,000; wood and timber, £464,000; iron and steel and manufactures, £615,000.

Following is a comparison of the returns for tho first quarter of this and last year.

1929. 1930. Imports . . . . £305,975,000 £283,938,000 Exports .. .. 181,108,000 104,133,000 He-exports .. 30,098,000 24,480,000 Total exports . , 211,200,000 188,013,000

Tho apparent adverse balance of trade is £95,385, compared with £94,709 for the first quarter of 1929.

MARKETING FRUIT JUICE. PROPOSED NEW INDUSTRY. UTILISATION OF "REJECTS." A scheme for the extraction, bottling and marketing of fruit juice by an improved method was placed before a meeting of the Huapai Fruitgrowers' Co-opera-tivo Association held on Saturday. There is a proposal to establish a company, with a factory in Auckland. r lhe authorised capital will be £50,000, of which is it proposed to allot £IO,OOO in £1 shares with provision that 60 per cent, of the shares should be held by fruitgrowers. Tho method of extracting and bottling the juico by means of the vacuum process, was stated to be a comparatively simple matter. Fruits which could be treated were apples, oranges, lemons, black currants, raspberries and passion fruit. The chairman of the meeting, Mr. J. A. Lambden, said that 100,000 cases of apples were despatched annually from Huapai, but that 30 per cent, of their crops consisted of "rejects." By converting these into apple juice, it would be possible to use the greater part of what is now wasted and make the growing of apples a more profitable undertaking. The meeting decided to support tho formation of the company, and to consider tho question of allotment of shares among the members of the association. Factory premises have already been erected at Freeman's Bay and the machinery is ready for installation. It is expected to commence operations this season.

OVER ONE MILLION PROFIT. FORD MOTORS (BRITISH). Last year Mr. Henry Ford's motor works iti Britain were formed into a pompany with a capital of £7,000,000 in £1 shares. The first annual report, covering the period from incorporation to December 31, shows that the total profits for the period, after providing for depreciation of capital assets, amounted to £1,013,506, from which has been set aside £195,000 for income-tax. The dividend for fhe year at 10 por cent.'requires £700,000, but less tax the total is £560,000, and the balance .of £258,506 is carried forward. Duriiijg the year a reserve of £811,736 was established, and out of this goodwill of £250,000 is written off, off patents, designs, etc., £350,000, and off preliminary expenses £68,324, leaving a balance of £143,411 in the reserve. Goodwill, designs and patents and preliminary expenses have been completely written off. LONDON DAIRY VALUES. PRODUCE BOARD'S REPORT. The New Zealand Dairy Produce Board has received the following market report from its London office, dated April 11, prices for tho previous week being in parentheses:— Butter.—New Zealand, sailed, 120s to 124s (124s to 128s), (last year, 164s to 1665); unsalted, 132s to 1365, up to 140s (134s to 1425), (last year, 166s to 170s); first whey, 114s (114s); second whey, 112s (112s). Deliveries of Now Zealand this week, 1350 tons; in storo, 6800 tons. The Marketing Board estimated tho stocks of all butters at April 5 at 661,873' boxes. Australian: Salted, 116s to 120s (122s to 1265); unsalted, 118s to 122s (124s to 128s). Argentine: Unsalted, 114s to 116s, up to 118s (118s to 1225). Irish: Salted, 120s; unsalted, 1265. Danish: F.0.b., 131s (1325); spot, 136s to 138s (140s to 1425). Dutch: Unsalted, 136s to 138s. Polish: 112s to 113s (118s to 1225). Improved demand at lower prices. New Zealand retail price unchanged at Is 4d. Danish retail price reduced to Is sd.

Cheese. —New Zealand ; White, 70s to 725, up to 73s (76s to 775), (last year, 89s to 90s); coloured, 72s to 745, up to 76s (78s to 795), (last year, 90s to 91s). Deliveries of New Zealand this week, 24,705 crates; in store, 101,243 crates. Better demand at lower prices. Canadian: White, 96s k> 100s (96s to 100s); coloured, 96s to 98s (96s to 98s). Market stoady. Deliveries of Canadian, 5183 boxes; in store, 109,937 boxes. New Zealand retail price reduced to lOd.

MERCHANTS' REPORTS. Improving demand and a firmer tone in the butter market were reported in London cables received by Auckland merchants on Saturday, j Messrs. Joseph Nathan and Company, i Limited, received the following advice:— Owing to considerable buying both markets aio firmer. Butter closed at 1245. Cheese: White, 745; coloured, 765. Messrs. Newton King, Limited, received (ho following cnble from (heir principals, Messrs. R. and W. Davidson, Limited, dated April 11:—Butter: Sailed, 120s to 1245; unsaltod, 132s to 1365. Cheese: Coloured, 72s to 745; white, 70s to 725. There is an improved demand, but. this may bo duo to the approach of Easter holidays. M essrs. A. 11. Turnbull and Co. have received the following cablegram from their principals in London, Messrs. W. Woddel and Company, Limited, dated ♦ April 11:—Danish butter, 136s to 138s; New Zealand unsaltod butter, 132s to 1365; New Zealand salted butler, 120s to 1245. There is an increased demand. Now Zealand cheese, white, 70s to 725; coloured, 72s to 745. An increased demand. Canadian choose, white, 96s to 98s; coloured, 96s to 100s.

TARANAKI OILFIELDS. Tarannki Oilfields report as follows under rlato April 10:—Gisljovno No. 2 well: Test of sand below 2635f1. unsuccessful. Strong (low of water, but no oil showing. Failure to obtain oil at 2635 ft. docs not affect tlio oil prospects o[ tho structure, flio favourable, strata of which below 3910 ft. constituted llie objective in view, but on account of caving, these strata were unattainable and have still (o be drilled. A further statement will bo made by the directors in the course of tho next fow days*