MOTOR-CAR TRADE

New Zealand Herald, Volume LXXIII, Issue 22333, 3 February 1936, Page 5

MOTOR-CAR TRADE

BUYING FROM GERMANY PROPOSAL IN AUSTRALIA MARKET FOR WOOL Recommendations that the Australian trade in motor vehicles with the United States should he transferred to Germany to obtain reciprocal trade with Germany in wool are contained in a report submitted to a conference of the Australian Woolgrowers' Council last month by Mr, R. J. Boyer, who visited Germany recently. Another report on similar lines by Sir Norman Kater, a large wool producer in Australia, also was considered The report of Mr. Boyer stated that with regard to a proposed three-scale tariff a similar measure was adopted by South Africa with pronounced benefit to her primary industries. The effect of it would be to apply the whole of Australia's foreign purchase to reimburse in some measure those countries which bought heavily from Australia. Because of Australia's adverse trade balance with the United States, Mr. Boyer suggested that a large proportion of the goods now imported from that country could be obtained from Germany in return for reciprocal buying of wool. Oil, films, and motor vehicles were the principal imports from America. Oil and films' 1 could not be supplied by Germany, but in the case of motor vehicles the trade could be transferred from the United States to Germany without, any loss of mechanical efficiency or damage, to British trade. Efficiency was the keynote of the Ger/iian motor industry. Jt was significant that the German car was the principal item used in the barter arrangement with South Africa. A conservative estimate of the wool used by Germany was 1,200,000 bales a year, of which Australia and New Zealand in normal times would supply about 700,000 bales. Germany was capable of consuming 40 per cent of the Australian clip, and up to 1934 actually did consume about 25 per cent of it. Some idea of the threat to'the industry in Australia by the loss of Germany as a customer was given by Mr. Boyer in the fact that, where Germany buys one Australian bale to-day, she previously bought four. He stated that, in spite of Germany's trade agreements with other wool-producing countries, and an intense drive to build up her own flocks, Germany had in sight for this season only two-thirds of her wool requirements. Australia was losing a splendid market by having no trade agreement with that country. Apart from the danger of still further loss of the German market, the most disturbing feature of delaying trade with Germany, according to Mr. Boyer, was the increase in the Central European flocks, which, if allowed to grow with such an assured market near at hand, would eventually affect purchases abroad by all European countries. The development of artificial substitutes also would be stimulated.

RUSSIA'S FUTURE NEW EXPORT PLANS MACHINERY FOR BRITAIN Notice that the Soviet Union intends to develop next year the export of its technical manufactures, machinery, apparatus, tools, electrical equipment and metals, to western countries, is given in a statement by the president of the Tekhnoexport Trust, M. G. I). Polishchuek. Pointing out that the Soviet Union, which started export operations with the Far East, has within the last two years built up a considerable business with Persia and Turkey as well, M. Polishchuek asserts that the improvement in the quality of Soviet production enables it to compete with that of the leading European firms. ' Next year is destined to see for tho first time Soviet -exports of metals to the Baltic lands, and of tractors, ball bearings, and oxygen welding apparatus to Western Europe. M. Polishchuek particularly mentions the recent expansion of pig iron exports, which are now going to 33 countries, and are hoped soon to go to more. He also mentions plans to export improved agricultural machinery. It is known in Moscow that negotiations are proceeding with British interests concerning the export of such machinery to Britain. GOLD AND SILVER QUOTATIONS IN LONDON (Received February 2, 5.5 p.m.) LONDON, Feb. 1 Fine gold is quoted to-day at £7 Is an ounce, compared with £7 Os 9d yesterday and £7 Os 8d on Thursday. The quotation for silver at per line ounce yesterday was 21 id, compared with 21Jd on Thursday.

NEW COMPANIES REGISTRATIONS IN SOUTH The following registrations of new companies are notified in the Mercantile Gazette:— PRIVATE Abbortsford, Limited, Napier. Capital: £"2000 into LI shares. Subscribers: Waipawa—H. S. Rathbone 500, M. M. Woods 500, J. J. Rathbone 500. Napier—C. H. Rathbone 500. Objects: To carry on the business of farmers, graziers, breeders and dealers in live stock. Gloucester Building, Limited, Napier. Capital: £7600 into £1 shares. Subscribers: Havelock North —H. C. Chambers 1000, B. H. Holland 500. Hastings —E. V. Simpson 250, E. S. Candy 1000, W. L. C. McLean 600, J. Love 500, W. E. Bate 250. Clifton—E. L. Gordon 2000. Fernhill—L. Low 250, G. H. Low 250. Wellington—R. F. Blair 1000. Objects: To carry on the business of building, land and estate agents in all branches. Hastings.Central Building, Limited, Naf)ier. Capital: £6IOO into £1 shares. Subscribers: Napier— G. Kelly 3100. Hastings—B. Kelly 750, (J. M. Swinburne 750. Tiniii—K. Dalziell 750. Whakatu —N. Holmes 750. Objects: To carry on the business of land, estate and building agents in all branches. INCREASE OF CAPITAL Porters Dye Works, Limited. Auckland. Capital increased to £7OOO by creation of 3500 shares of £1 each. Williams Rotary Engines Company, Limited, Auckland. Capital increased to £IOO,OOO by creation of additional shares to amount of £75,000. REDUCTION OF CAPITAL Kents Bakorips, Limited, Auckland. Capital reduced from £50,000 to £9250 in 35,000 preference shares of 5s each and 10,000 ordinary shares of Is each. Ohinemuri Hotels, Limited, Auckland. Capital reduced from £50,000 to £31,250 in 50,000 shares of 12s 6d each.