FRUIT EXPORT TRADE

New Zealand Herald, Volume LXXII, Issue 22056, 12 March 1935, Page 5

FRUIT EXPORT TRADE

GUARANTEE AND MARKETS ARRANGEMENTS FOR SEASON ACTIVITIES OF BOARD [by telegraph—own correspondent] HASTINGS, Monday Important information concerning tho export of fruit during the coming swison was given to a meeting of fruitgrowers in Hastings by Mr. Ralph Paynter, chairman of the Fruit Control Board, and by Mr. A. M. Robertson, the Hawko's Bay representative on the board. Mr. Paynter said he realised the arrangement made with the Government in respect of a guarantee for the next three years would not satisfy all growers. The board was told last year that any guarantee would bo in the nature of a loan, and the Government had kept to that threat. The board had been hammering away at tlie Government and the Treasury since last September, and the answer had been that only a loan could be granted.

It was not until a few weeks ago that any finality was arrived at. The Government would grant, on a 9s basis on guaranteed markets, £1 for £1 up to £12,500. The guarantee for new markets would be on a similar basis to that of former years. The board would have to find up to £12,500 by means of a levy. In regard to that levy, continued Mr. Paynter, each individual contribution would be a credit to the grower, so that in the case of a grower who made no claim on the guarantee the amount would remain to his credit and he used to meet his own liabilities under the guarantee. In November last year, Australia sent a delegation tQ discuss export affairs and marketing with tho Control Board, said Mr. Paynter. Australia had tightened u,p on the grading restrictions, and ,for the first time had a colour standard. It was considered the total Australian-New Zealand export should be limited to 5,000,000 cases on the United Kingdom Market in the 1935 season, but owing to various changes in the circumstances it was thought the limit should be 4,500,000. The board fought for 25 per cent of the total, Mr. Paynter concluded, and when it appeared the conference would break up otherwise the board agreed to accept 231 per cent, excluding pears, which meant 1,057,500 cases of apples. The board was at liberty to ship as much as it pleased to all other markets. Mr. Robertson said the board had arranged sales of 80,000 cases to Brazil, 3000 to Uruguay and 20,000 to the Argentina. There was no fear about the money. It was hoped Hawke's Bay would be able to send substantial quantities. The whole consignments to South American countries would be treated as a national pool. Mr. Robertson detailed the quantities to be sent to Canada, United States of America, and Sweden. The latter was as near to tho Continent as the board had been able to go, but there was little doubt that Germany would buy New Zealand fruit in England just as she bought New Zealand wool there. MILNE AND CHOYCE, LTD. INTERIM DIVIDENDS PASSED The directors of Milne and Choyce, Limited, have decided to adopt again tho procedure instituted three years ago of passing tho interim dividend on the company's ordinary shares and debenture stock and tlig preference and B preference shares. Tho question of dividends will be considered when, tlio year's accounts close on July 31, ENTRICAN, SIMS AND CO. REDUCTION OF CAPITAL Resolutions reducing capital to £62,979 16s and cancelling arrears of dividends on preference and A preference shares to March 31, 1934, were unanimously adopted at an extraordinary meeting of shareholders of A. J. Entrican, Sims and Company, Limited, general merchants, last night. The reduction was effected by writing down 9000 A preference shares from £1 to 17s 6d, 69,392 ordinary shares from £1 to 13s and cancelling 1000 A preference shares which had not been taken up. Preference capital remains unchanged in 10,000 shares of £1 each. VICTORIA NYANZA SUGAR FURTHER LOSS SHOWN A loss of £12,970, compared with a loss of £38,610 in the previous year, is shown in the accounts of the Victoria Nyanza Sugar Company, Limited, Melbourne, for tho year ended April 30, 11)34. The balance date, however, was altered from April 30 to June 30, and the lo?s for the full 14 months ended June 30, 1934, is £18,360, including £5390 spent in May and .Tune, when the plant was overhauled for the ensuing season. Depreciation accounts for £II,BBO, making a trading loss of £6IBO for the 14 months. Production of sugar increased from 2820 foils in 1932-33 to 5060 tons for the 14 months of 1933-34. The report states that production for 1934-35 is estimated at upwards of 5500 tons. The company has a paid capital of £300,000. The last dividend was 10 per cent in 1930. COMMERCIAL BANK NEW WELLINGTON OFFICES The head office of tho Commercial Bank of Australia, Limited, has decided to erect in Wellington offices to the maximum height permitted by the city by-laws. Tho site is a section adjoining the new Prudential building on Lnmbton Quay. The ground floor will contain a handsome banking chamber, and there will be n mezzanine floor, with six floors above that. The frontage of the new building will be 42ft., and the depth 102 ft. Tenders have been called for a 40ft. concrete retaining wall, which will be rendered necessary by excavations at the roar of the section. The building has been designed by Mr. F. de J. Clere. ' > lIORSE FAIR AT KAMO [from our own correspondent] WHANGAREI, Monday The North Auckland Farmers' Cooperative, Ltd., held a horse fair at Kamo on Saturday when the advertised number of horses came forward. Competition was not very keen although a few exceptionally good horses sold well. The top price was £44 for an aged brown marc sold on account of Mr. J. O'Shea, the purchaser being Mr. J. Stewart, of Naumai. Good lieavy draughts made from £3B to £44; medium, £25 to £37; light, £lB to £27; light harness horses, £l2 to £l7 10s; hacks and gig horses, £4 to £ll 10s; inferior hacks, to £3 10s. WHOLESALE EGG PRICES The wholesale prices of eggs in Auckland are unchanged, as follows:—Hen, first grade, Is 7Jd a dozen; B grade, Is 3'Ju; C grade, Hid; duck, Is 6id, Is 5Jd, Is 3Jd.