INDUSTRIES IN AUSTRALIA.

New Zealand Herald, Volume LXVII, Issue 20603, 30 June 1930, Page 5

INDUSTRIES IN AUSTRALIA.

COSTS OF PRODUCTION. INCREASING COMPETITION. While high protection is afforded to industry in .Australia many of those engaged in industrial enterprise hold the view that restricted competition from oversea manufacturers will enable them to extend their operations. The Melbourne Argus remarks They forget that oversea makers may themselves begin to manufacture in the Commonwealth. Recent announcements by several British and foreign companies that they intend to establish works ivi Australia indicate that trade once established is not likely to bo relinquished without a fight. " Although in these dull times certain sections of industry have managed to maintain and even exceed former profits investors apparently are not confident that this position will continue. This is partly due to the prospective increase of competition in tho internal markets, but probably more so to tho fear that the day is near when there will be excess production, with its attendant difficulties. " Costs of production in Australia are too high to permit of profitable export trade in most manufactured goods, and as soon as output overtakes the demand troubles arise. In these circumstances only makers whose goods have the best reputation, and can be sold at competitive prices, will survive. " A survey of industry in Australia would disclose numerous units throughout the States engaged in one class of enterprise, whereas a few large undertakings could probably turn out the requirements of the country at less cost. It is only a matter of time when amalgamation of many of these units will be imperative if efficiency is to be attained, because production costs will have to be lowered."

THE LONDON MARKETS. FROZEN MEAT(Received June 29, 5.5 p.m.) LONDON, June 28. The weekly quotations for the undermentioned classes i of frozen meat are based on actual sales of wholesale quantities of carcases of mutton or lanib, or of quarters of beef delivered to Smithfield markeat and/or ex-London stores. They are compiled by the Quotations Committee, Smithfield. To arrive at the equivalent ex ship values one farthing per pound should be deducted from the prices quoted below. Quotations {riven represent the average for tho week and are not selected lines, but for parcels fairly representative of the bulk of the shipments now on offer. New Zealand Sheep.—Canterbury and North Island selected crossbred wethers and maiden ewes, 481b to 561b, sd; 571b to 641b, 4 3-8 d: 651b to 721b. 4 5-Bd. North Island, 481b to 561b, 4 7-8 d; 571b to 641b, 4£d; 651b to 721b, 2 5-Bd. Australian Slieep.—Crosshreds and/or Merino wethers, second quality, 301b to 551b, 3 3-8 d; ewes, 301b to 551b, 3 l-Bd. Argentine Sheep.—First quality_crossbred wethers, 481b to 641b, 4d; 651b to 721b, 3Jd; over 721b, 3d. Patagonian Sheep.—Wethers and/or maiden ewes, nnder 501b, 3 7-8 d; 501b to 601b, 3£d; ewes, 401b to 501b, 3 l-Bd. New Zealand Lambs. Canterbury, second quality, average 331b, 7 7-8 d; selected North Island brands, second quality, average 311b, B£d; other North Tsland brands, fii'st quality, 371b to 421b. B|d; second quality, average 311b. Bd. Australian Lambs. Victorian, first quality, 361b and under, 7yd; 371b to 421b. 7 1-8(1 Victorian, second quality. 361b and under. 7d; other States, second quality, 361b and under, 6gd; all States, third quality, 7 l-Bd. Argentine Lambs.—First quality, 361b and under. 6 7-Bd. \

New Zealand Frozen Beef.—Ox fores. ! 1601b to 2201b, 3Jd. Australian Frozen Beef.—Ox crops, over 1001b, 3 3-Bd. Argentine Chilled Beef.—Ox fores, 1601b to 2201b, o 3-8 d; ox hinds, 1601b to 2201b. 7^d. New Zealand Pigs.—First quality, 1011b t/> 1201b, 6|d; others unchanged. COTTON. RUBBER, JUTE, ETC. (Last week's prices in parentheses.) Cotton.—July delivery, 7£d (7.32 d) per lb. Rubber.—Para, (7id) per lb; plan tation and smoked, 6 3-16 d (6 1-8&) per Jute.—July-August shipments, £22 Is 3d (June-Juiv, £22 7s 6d) per ton. Copra.—July-August shipments, South Sea, £lB 7s 6d (July. £l7 12s 6d per ton; plantation, Rabaul, £lB 10s (£l7 15s) per ton. Linseed 0i1.—£42 (£43) per ton. Turpentine.—s9s (39s 6d) per cwt. H.M. ARCADE THEATRE. INTERIM DIVIDENDS. The directors of H.M. Arcade Theatre, Ltd., announce an interim dividend on preference shares at tho rate of 6 per cent, and on ordinary shares at the rate of 12£ per cent. Tho dividends, will bo distributed on July 1. FROZEN MEAT MARKET. LONDON QUOTATIONS. Tho Bank of New Zealand has received the following advico from its London office as at tho close of business last week:—Frozen meat: The wether market is affected owing to heavy supplies from tho Argentine. For ewes the market is depressed owing to absence of demand. For lamb tho present" demand is good and likely to continue. The beef market is quiet and unchanged. Quotations:— Wethers, light, 44d to 6d; heavy, 4jd to ewes, to 3^d; lambs, twos. 8 5-8 dto 9d; eights, 8 3-8 dto 8 5-8 d; fours. 8d to Bid; seconds, to Bjd; ox hinds, to s|d; fores, 2Jd to 3d; cow hinds, 4d to 4ld; fores, to 2®d. STOCK SALES. MORRINSVILLE QUOTATIONS. The Farmers' Co-operative Auctioneering Company. Limited, reports.—At Morrir.sviHe on Friday we penned a heavy yarding of sheep and a medium yarding of cattle. Late rates were maintained throughout. There was a medium yarding of pigs which maintained late Quotations. A line of 57 medium and heavy baconers on account of Mr. It. J. Mears averaged £3 3a Gd and a line of 42 on account of Messrs. Grayden Brothers averago £3 3s Cd. Quotations: — Sheep: Fnt owes. 15s to 19a 3d: fat wethers, 21s 3d: fat hoggets, Ms to 15s: store hoggets. best, lis to 13s: culls. Bs. Cattle: Fat cows, heavy, JC7 17s to £8 2s: medium, £G Ga to £7 Gs; light, .£5 10s to £6 2s: store cws. £1 10s to £3; Uolstelu heifers. £3 ss: small Jersey cross heifers, £1 10s to £2 2s; choice Jersey heifers, closo to profit. £l4 !5s to £l7: Friesinn heifers. £lO 15s to £l2: Jersey cows, springing, £lO to fl3: backward sorts. £6 15s to £S 10s. Pig»r Medium to heavy baconers. £3 to £3 Gs; light porkers, £2 to £2 ss; slips, 121s to 2Gs Gd; weaners, 9s to ISs. OFFERING AT TE AWAMUTU. The New Zealand Tcsn and Mercantile Agency Company, Lim ted, Hamilton, reports:—Wo held a very successful eleariug sale at To on Friday on account of Mr. R. S. Robkon. Competition was brisk and thoro was a total .clearance under tho hnmmer Best Jersey cows, £l4 to £l6 15s: best Friesian cows. £l3 to £ls 153; best Shorthorn cows, £l2 to £l4; other cows. £9 to £11; later calvers, £5 15s to •£7 10s: Jersey heifers, £9 to £10; weaner Jersey heifers. £3 15s; sows, dose to farrowing, £5 17s Gd to £6; slips, £1 2»; weaners, 15s to 17s. '