BUTTER PRICES FIRMER.

New Zealand Herald, Volume LXVIII, Issue 20882, 26 May 1931, Page 5

BUTTER PRICES FIRMER.

NEW ZEALAND AT 114s. LONDON STOCKS EXHAUSTED. CHEESE RATES ADVANCE. Tlic London butler market is very firm. Latest cablegrams report, that slocks are exhausted, and New Zealand butter is quoted at 114s a cwt. The cheese market is also firmer.

'"Although we do not expect any spectacular ri.sn in the near future, wo expect that the present improvement will be permanent and that further slight rises may take place," stated a prominent exportei last evening. For the past two weeks, he said, shipments had born cleared practically as soon as they arrived in London, traders there evidently expecting a rise in the market. Deliveries of butter- in London last week, about 1400 tons, had been well down on those of the previous week of over 1700 tons. It was not expected (hat there would bo any increase in the amount rfirriving for some time. Merchants yesterday reported receipt of cablegrams from London as follows: Joseph Nathan and Company, Limited. London stocks exhausted and delivery next week quoted at 3145. White cheese, 51s to 525; coloured, 54s to 555; market rjuirl. Leonard and Son, Limited.—Cheese: White, 525; coloured, 54s to 555; the denuifid is pood and the market, very firm. Butter: First grade, 112s; finest, 113s. The demand is active and the market very firm.

NOVEL BID FOR TRADE

CARAVAN THROCCII AFRICA. A novel hid for trade is lining made by a leading Manchester firm. Wider nutlets for low-priced fabrics, they, believe, arc to be found in tropical Africa by selling European dresses to native women. A caravan of motors left London last, month carrying a complete range of dresses, cotton and rayon fabrics, together with a complete outfit for taking and showing films. Tho expedition went to Stamboul by boat and from there will travel by car to Damascus, Jerusalem, Alexandria, Cairo and right down to Capetown.

RUSSIAN EXPORTS. TRADE THROUGH BLACK SEA. In tho first throe months of 1931, Russian exports from Black Sea ports were 2,700,000 tons, against 2.070.000 tons for the first three months of 1950, said a recent cablegram from Constantinople. Of cereals, 930,000 tons were exported, against 500.000 tons in 1930; of oil products, 1,100,000 tons, a slight increase over 1930; and of coal, 390.000 tons, a small decrease. The largest increase was in the export of sugar; from 19,000 to 136,000 tons. RECIPROCAL TRADE WANTED. "Reciprocal trade with all countries is wanted, preferably with England," stated Mr. James Burns, chairman of directors, at the annual meeting of Burns, Philp and Company, Limited. Australia should not sell its primary products to Britain and transfer the money to America to buy wireless sets, gramophones, cinema pictures, pianolas, cameras and motorcars, he continued. If America took some of Australia's primary products it would be then an exchange in trade instead of continual payment in gold, with American vessels going back to the U.S.A. in ballast instead of loaded with cargo. JEWELLERY TRADE DEPRESSION. Mr. A. T. Isaac, chairman of tho Goldsmiths and Silversmiths Company, London, at the recent annual meeting, mentioned that tho results of the past year's operations were disappointing even beyond reasonable anticipation. During times of depression, he added, forced sales of diamonds pearls and all jewellery were common and this had had the effect of further decreasing prices and profits in a business such as theirs.

MEAT FIRM'S RECOVERY. A decided recovery 1 is apparent, says the London Morning Post, in the affairs of the Sniit h field and Argentine Meat Company in the annual report for the year to December 30 last. The profit for the year was £119.117, compared with a net loss of £IB6O in 1929, following on previous bad years which had left a legacy of £28.093 in the shape of a debit balance. The improved results are ascribed to extensive reorganisation of I lie business in Argentina, coupled with rigid economy throughout the business.

BALDWINS, LIMITED. Operations of Baldwins, Limited, the British company with which the Leader of the Opposition in the House of Commons, Mr. Stanley Baldwin, is associated, resulted in a profit of £300.905 for the year ended December 31, 1930. A profit of £352.042 was made in the pVevious year. The directors stated that the results had been reached after providing for the difficulties arising put of the exceptional trading conditions in Australia.

BRITISH MONEY IN ARGENTINA. The total of British capital invested in Sou 111 and Central America is probably no less than £1.200.000.000, of which about £450.000,000 is invested in Argentina, In Argentine railways alone Great Britain has invested no less Ilia;: £260,000.000. AUSTRALIAN FRUIT EXPORTS. Nearly 2.000.000 cases of apples and over 270,000 cases of pears have been shipped so far this season from Australia, according to a statement bv tho Minister for Markets early this week. The United Kingdom lias taken 1.383.000 cases of apples, and t lie main shipments to Continental ports were to Hamburg. Rotterdam, Bremen, Copenhagen and Stockholm. Hamburg led the way with over 409,000 cases. In addition, 29.336 cases of apples and 4029 cases of pears have been shipped to the Last to date.

SOUTHERN UNION INSURANCE. Among the new companies registered in Australia recently was the Southern Union Insurance Company of Australia, Limited, which has been formed to acquire the assets of the Southern Union Cieneral Insurance Company of Australasia. Limited, which was recently acquired by the Phoenix Assurance Company, Limited. The principal share,linldei in the new company is the Phoenix Company, and policyholders in the Southcm Union will hhvp the security and support of the purchasing company. 'lhe entire business and goodwill of the Southern Union General Insurance Company has been taken over by the company now registered. BRITISH WHOLESALE PRICES. In spite of an appreciable- rise in cereals and meat the trend of British wholesale prices, as disclosed by the Economist continued to be downward during April. '1 he composite index, lower by 0.8 on the month, touched a new low level of 65.4. The average for 1027 is taken as the basis for 100.