TRANSTASMAN TRADE

New Zealand Herald, Volume LXXI, Issue 21983, 14 December 1934, Page 9

TRANSTASMAN TRADE

FAILURE OF NEGOTIATIONS AUSTRALIAN "INCONSISTENCY" A charge of inconsistency in connection with the New Zealand trade negotiations has been made by Australian fruit interests against the Federal Government. Speaking at Brisbane, Mr. W. Ranger, manager of the committee of direction of fruit marketing, said the breakdown in Australian negotiations with New Zealand for the general admission of Australian citrus fruits into New Zealand would have very serious effects on the Australian citrus industry. The loss of this trade was responsible for the Federal Government guaranteeing citrus growers against loss on export, and for the special grant of £IO,OOO to the mandarin industry. It looked as if such assistance would liavo to be continued. Mr. llanger said the failure was attributed to the refusal of Australia to admit a quota of 10,000 tons of New Zealand potatoes annually, on the ground that the admittance of so large a quota of New Zealand potatoes would be disastrous to Victorian and Tasmanian growers. The attitude of the Federal Government was remarkably inconsistent. Ten thousand tons of potatoes represented per cent of Australian production and yet, when the banana industry protested against the admittance of 40,000 centals of Fijian bananas, the Federal Government justified this importation on the ground that it represented a similar percentage of Australian production of bananas, and therefore its effect on the industry would bo negligible.

AUSTRALIAN EXCHANGES EASIER SYDNEY TREND TIN SHARES IMPROVED (Received December 13. 8.55 p.m.) SYDNEY, Dec. 13 An easing trend was again noticeablo to-day on the Sydney Stock Exchange. Australian Glass had another sharp fall, but leading tin dredging concerns made an improved showing. This morning's sales included:—Commonwealth 4 per cent bonds—l93B. £lO5 15s; 1941, £106; 1950, £111; 1961, £llO. National Bank of Australasia, £5 paid, £6 2s; Tooth's Brewfcry, 51s; Anthony Hordern, 18s lO^d; Associated News, 25s 6d; Australian Glass, 58s; Dalgety's, £8 12s Gd; Dunlop-Pcrdriau, 20s; Ooldsbrouglu Mort, 30s Gel; James Stedman, 16s 10id. Later sales included: —Commercial Bank of Sydney, £l7 14s; National Bank of Australasia, £5 paid, £6 2s;. Bank of Australasia, £11; United Insurance, £ll 10s; Australian Provincial Assurance, lis Id; Howard Smith, 15s 10£ d; Australian Gas, B shares, £8 Is: Newcastle Gas, A and B shares, 13s 9d; Australian Glass, 57s 3d; British Tobacco, 41s 6d; Tooth's Brewery, 50s Od; Toohey's Brewery, 29s Cd; Dalgety's £8 12s Cd; Goldsbrough-Mort, ;ios Gd; Morris Hedstrom, 16s 9d; Henry Jones, 35s 3d; Electrolytic Zinc, 22s 6d; Anthony Hordern, 18s Cd; Lustre Hosiery, 27s 3d; Hume Pipe, 14s 6d; Mount Morgan, 35s Cd; Mount Lyell, 17s 9d; Broken Hill Proprietary, 52s 6d; Kramat Tin, 5s 2d; Asam Tin, 435; Peninsula Tin. 20s 3d. Commonwealth 4 per cent bonds —1938, £lO5 15s; 1941, £lO5 17s 6d; 1944. £107; 1950, £llO 15s; 1953, £lll ss; 1955, £lll sk; 1959, £llO 2s 6d; 1961. £llO ss. Melbourne sales included:—National Bank of Australasia, £lO paid, £l2 16s; Goldsbrough-Mort, 30s Cd; HeraldTimes, 58s. GOLD AND SILVER QUOTATIONS IN LONDON (Received December 13, 8.55 p.m.) LONDON, Dec. 12 Fine gold is quoted to-day at £7 0s 5d an 07.., compared with £7 0s 4{d yesterday. Silver is quoted at 24 9-16 d an oz. spot, and 21 7-] fid forward, compared with 24Jd and 24Jd yesterday. The quotation for silver at per fine oz. is 26-id, compared with 26 9-lGd yesterday.