TRADE OF AUSTRALIA.

New Zealand Herald, Volume LXVII, Issue 20724, 18 November 1930, Page 5

TRADE OF AUSTRALIA.

LARGE GOLD SHIPMENTS. IMPORTS DRASTICALLY REDUCED. The drastic curtailment of imports into Australia resulted in tho total for September being reduced to less than half that for September last year—£6,119,730 —as against £12,587,573. The total was the lowest for any month in the past year. Exports of merchandise were valued at £5,954,114, as against £7,846,976 last year, but they were supplemented by shipments of gold to the value of £5,i10,434 (as against £1,346,000), so that the month's trading resulted in an apparent favourable balance of £4,974,818. In September last year there was an excess of imports of £3.134.000. The month's shipment of gold was the largest since February and March, in both of which exports exceeded £6.000,000. Tho returns for the first two months showed an excess of imports of £1,074,275. September trade had the effect of bridging the gap and creating a favourable balance. Following is a comparison of the returns for the first quarter of this year and last year:— 1920-30. 1930-31, Exports— Merchandise • .. £20,303,211 £17,163,302 Gold .. 2.621,726 6,198,758 Total .. .. £2-2,921,970 £23,362,120 Im ports— Merchandise . . £37,766,262 £20,221,231 Gold . . . . 79,722 70,572 Total .. .. £37.845,981 £30,291,806 Excess of imports . £14,929,014 Excess of exports . £3,070,314 Exports of greasy wool and butter show increases, tho former owing to the extension of last season's sales into this financial year. Following is a comparison of the recorded values in exports of important commodities: —

Of the importations, the value of textiles other than apparel shows a decrease approximately bearing out the average fall of 45 per cent. Machinery and metal manufactures fell by 54 per cent. Included in this are a heavy contraction in motor chassis and motor bodies. In view of the duty since imposed, a drop in tea imports is specially interesting. Two linos affected markedly by higher duties are whisky and tobacco. Another pronounced recession, both relatively and in amount, is in petroleum. Timber, printing paper and jewellery, and fancy goods all disclose a substantial shrinkage. Details are as follows:

AUSTRALIAN BANKING.

GROWTH OF ADVANCES.

INCREASE IN FIXED DEPOSITS.

Further evidence of tho way in which Australian banking resources have been strained in face of an abnormal position is given in the aggregates of liabilities and assets of all banks in Australia for tho September quarter, as published in a Commonwealth Gazette. Against deposits of £503,409,380 advances and Government and municipal securities together amount to £336.066,103, an excess of £32,656,723. Advances alone are only £10,757,340 less than deposits. Following is a comparison of the returns for tho September quarter of tho last three years showing the variations in fixed (interest-bearinj;) and freo deposits and in advances," those on Government and municipal securities being shown separately:— 1926. 1029. 1930. Deposits— Fixed £165,397,992 £202,754,571 £207,238,219 Freo 125,607,704 119,213,042 96.171,1G1 £311,205,696 £321,967,613 £303,409,380 Advances— Public 36,258,966 37,763.916 43,414,063 Other 263.558.231 096,222,448 292,652,040 £299,817,247 £335,986,391 £336,066.103 Advances in the June quarter of this year amounted to £300,749,599, so that there has been a decline in three months of £8,097.555. Against (his was an increase of £991,184 in the banks' holdings of Government and municipal securities. MOTUROA OILFIELDS. TOTAL OF 4200 GALLONS. [by telegraph.—own correspondent.] NEW PLYMOUTH, Monday. . Tho managing director of Moturoa Oilfields, Limited, reports as follows for the week ended November 15:—"Tho No. 1 well has been drilled to 3220 ft. in sandy shale. Baled 100 gallons of oil. During drilling operations tho well flowed 300 gallons from the 2300 ft. horizon. It is proposed to drill to 3330 ft. before testing. Since the first blow-out on October 26 the well has produced 100 barrels of oil, each barrel containing 42 gallons." STOCK SALES. BETTER VALUES AT CLEVEDON. Alfred Buckland Htid Sons, Limited, report that at the fortnightly Clevedou stock Halo yesterday thero was a good yarding of sheop and cattle. Values showed a slight improvement on late rotes. Best dniry cows and heifers made £7 10s <o £9 10s; medium prime fat cows and heifers, £7 15s to £8 17s Od; light prima fat cows, £6 103 to £7 10s; yearling Shorthorn steers, £3 10s to .£3 17s 6d; yearling Shorthorn heifers. £3 10s to £4. A line of 6-tooth shorn wethers on account Messrs. Greenwood and Rogers. Motutapu Island, made from 12s 3d to 163 9d. WAIUKU FIG SALE. At the Waiuku pig sale held by Alfred Buckland and Sons, Limited yesterday, there was ft full yarding and late rates were fully maintained. Choppers made £2 10s to ft; heavy baconers, £2 19s to £3 3s; medium,' £2 12s to £2 16s; heavy porkers, £2 8s to £2 10s; light- and medium, £2 2s to £2 6s; small and unfinished, £1 15s to £1 18s. Stores sold freely at up to 355; slips, 2Rs to 31s; weanera, 16s to 23a; sows in pig. to £4 7a 6d.

1023-30. 1930-31. Butler • • • • • . £618,830 £843,682 MeatsBeef ., • i » . on 1,697 678,734 Mutton 81,133 55.637 Lnmb . 238,014 87,106 Rabbits and hares . 165,188 192.112 Milk mid crcsm . 133,063 82,842 Currants . , J07J32 129,440 Raisins , (117.6CO 557,761 Citrus fruits ,, , 23,833 43,533 Apples • • . 5.318 •24,217 Wheat . 2,027,374 1.693,981 Flour . 1,457,069 1,103*081 Sueur ., ., . 1,035,608 688,323 Skins— Hides . 256,387 231,700 Rabbits and harc3 . . J, 105,306 280,511 Sheep . . 1,01)5,68-1 771,177 WoolGreasy • . «,398,117 ■1.096.394 Scoured . . . 950,003 795,716 Top a 35,112 7,076 Tallow . 288,807 154.657 C'onl ,. . 125,564 125,221 Copper 93,073 147,634 Lead ., . . • . 1,021,606 6^9,61.3 Tin 65,620 14.031 Zinc . 211,775 70,983 Timber . . 377,235 276,225

Imports. 19 20-P.O. 1930-31. Fish £*213,*232 £101,741 Tea * 891,795 757,762 Whisky 262,359 00,070 Tobacco, etc. . . . 757,791 235.266 Yarns— Artificial Silk . 041,951 105,963 Cotton 301,920 114.047 Wool .. .. . 81,989 .18,405 Apparel 1,5*21,783 551.359 Textiles . . . . 7,550,401 4,288,538 Cornbaps . . 239.410 194,394 Woolpucks 312,537 248,003 Keroseno • 06,601 45,924 Lubricating oil 39(5,437 254 J 32 Petroleum spirit 1,974,483 998,243 Machines and other metals 10,530,282 4,835,503 •Vehicles— Motor bodies, etc. . . 244,653 3.444 Motor chassis, etc. . . 2,004,375 477.387 Motor-cycles, etc. 83,175 23.478 Rubber manufactures . 571,305 170,068 Leather manufactures . 132,936 33.595 Timber . 1,253.544 424,662 Paper, print inp . . 824,501 542.764 Paper, wrapping Jewellery, etc. . . . 87,835 56.912 . 828,694 420.012 •Included also with metal manufactures.