TIN CONSUMPTION

New Zealand Herald, Volume LXXIII, Issue 22464, 7 July 1936, Page 5

TIN CONSUMPTION

LAIiGE INCREASE FOR YEAR

HIGH MARCH FIGURE

WORLD STOCKS LOWER

World apparent consumption of tin in the year ended March 31 was 147,877 tons, an increase of 2-5,529 tons, compared with the previous 12 months. World production in tho year to March 31 was 145,164 tons.

The total consumption of tin in March, 1936, was 13,424 tons, this figure being tho highest reached since the peak month of 1935 (September, 13,693 tons). The production and consumption of tin in the first quarter of 1936 were in very close agreement, the figures being 38,400 tons and 38,139 tons respectively. Tho largest individual consumer of tin was the United States, which required 66,391 tons, an increase of 18,015 tons, during the year ended March, 1936. The United Kingdom took 23,517 tons, an increase of 3176 tons. The world visible stocks of tin at the end of April were 15,956 tons, against 17.336 tons at the end of March. Consumers' stocks continue to increase, the total increase in the year ended March, 1936, being approximately 8500 tons, against a decrease of about 7000 tons in the previous 12 months.

World production of tinplatc in tho first quarter of 1936 was 820,000 tons, against 818,000 tons in the first quarter of 1935, and 712,000 tons in the first quarter of 1931. The quantity of tin used increased from <18,500 tons in the year ended March, 1935, to 52,300 tons in the year ended March, 1936. The output of motor vehicles totalled 1,418,000 in the first quarter of 1936, against 1,301,000 in the corresponding period of 1935. STATE BORROWING MISGIVING IN AUSTRALIA " LEANING ON RESOURCES" Commenting on the recent issue of the Australian £9,000,000 loan, the Australasian Insurance and Banking Record states that a certain amount of capital expenditure by Governments is naturally required, but moderation in this respect would facilitate the actual borrowing operations and would also put less upward pressure on interest rates generally. Government borrowing also requires to be considered in connection with the scale of taxation, the journal states. The total amount of taxation in all forms collected by Commonwealth and State Governments in the past financial year appears likely to approach £100,000,000 and, adding to the two loans of £7,500,000 and £9,000,000, the amount taken in taxation and loans by the seven Governments would be approximately £115,000,000. Compared with the value of Australian production, that total indicates that Governments are leaning somewhat too heavily upon available resources. RESTRICTION SCHEMES NONE WHOLLY SUCCESSFUL

SOME ADVANTAGES CLAIMED

Discussing the value of restriction schemes, at the annual meeting in London of the Rubber Plantations Investment Trust, which is interested in the tea and rubber industries, Mr. H. J. Welch, chairman of directors, said regulation schemes should never be welcomed by producers if they could possibly be avoided, for he believed there was not on record one scheme for any comparable product which had been considered wholly successful and which had not left some undesirable and generally unforeseen results. Differences of opinion between supporters and opponents were largely to be explained as differences between short period and long period views. "Among tho advantages of regulation schemes may be mentioned the reduction of surplus stocks, tbe increase of tho market price of the product, and the restriction of new plantings," said Mr. Welch "But such schemes have the disadvantage of keeping in production and strengthening the organisation of weak or high cost producers. They increase the cost of production by reduction of outputs and by the costs of administration of the scheme; they discourage consumption by increasing the price of the commodity, and because of such increase of price, and sometimes for other reasons, they not only encourage competition from producers outside the scheme and from producers of substitutes, but also strengthen their production and marketing organisations Further, whatever efforts are made to secure equitable treatment of' all producers, grave inequities in the administration of such schemes are inevitable."

QUEENSLAND BREWERY

INCREASE IN CAPITAL

An extraordinary meeting held in Brisbane of shareholders in Queensland Brewery, Limited, adopted a resolution to increase the capital of the company from £500,000 to £1.000.000 and to authorise the issue of 218,000 shares at £1 each. The balance of the 500,000 share increase, 252,000 shares, is not to be used at present.

STOCK SALES

OHINEWAI OFFERING

(7. W. Vercoo nnd Company, Limited, reports having held its monthly stoek sale at Ohinewai yesterday, when a small yarding of cattle came forward. Competition on- all classes was keen throughout and a total clearance was effected at full lato rates. Light fat bullocks sold from £8 os to £!>; mediumweight fat cows, £5 10s to £0 108; lighter, £4 J,->« to i.5 7s (id; light, £3 15s to £4 12s (id; forward condition Shorthorn and Friosian cows, £3 5s to £1 108; others, AOs to £3; yearling Jersey heifers, to £3 (is; empty 18-inonths Shorthorn-cross heifers, £3 to lis Ids; heavy boners, £2 5s to £2 15s; others, 30s to £2; potter bulls, to £4 ss; fair duality Jersey and Jersey-cross cows (early calvors), £5 10s to £0 10s; others, £3 15s lo £ l 10s.

CLEARANCE AT WAIKIEKIE [I'KOM OUK OWN COIUIKSI'ONDKXT] WIIANGAItEI, Monday J)algetv and Company, Limited, held a clearing sale on Friday on account of Messrs. T. W. and O.- Walker, of Waikiekie. The cattle comprised mixed breeds, and caino forward in fair condition, beinK offered to a good bench of buyers. Competition was Rood for all quality forward cows, In tho übsenco of butter-fat records and calving dates, satisfactory prices were obtained. Values:— Early calving Jersey and Jersey-cross cows, i'2s (Id to £5 17s (id; other early calvers, XT) 5s to C 5 10s; later calving Jersey-cross cows, £4 Gs to £5; Holstein cows, £4 10s to £5 ss; later calvers, £3 15s to £4 ss; forward springing Jersey-cross heifers, £1 to £1 17s (id; later calvers, £2 15s to £3 10s; backward heifers, £2 to £2 ss. Pigs were also sold under good competition. Breeding sows with litters made £3 10s; to £4 ISs; breeding sows to farrow, forward, £3 Is to £3 0s; farrowing later, £2 7s to £2 ltis; store pigs, £1; slips, 17s; one farm gelding. £27; one child's pony. XI 15s.