BRITISH TRADE

New Zealand Herald, Volume LXXIII, Issue 22523, 14 September 1936, Page 5

BRITISH TRADE

DEPRESSING INFLUENCES SITUATION IN SPAIN FRUIT SUPPLIES CHECKED (Received September 13, 5.5 p.m.) LONDON, Sept. 12 The Spanish civil war is creating serious difficulties for British importers and merchants. Shipments of Spanish Krapes are indefinitely held up, and it is uncertain whether the usual November supplies of Seville oranges will arrive, as tlm fighting has led to lack of attention to trees and a damaged crop. Also, it is feared that the Christmas trade in dried fruits will be seriously hit. Consequently, Australian varieties arc in increasingly good demand. The position of firms operating in copper and iron pyrites from mines in Spain is serious. All the British conj cessions are in areas occupied by the insurgents, who insist upon receiving ■full value in foreign currency .for cargoes exported, while the British Government requires the value to be paid again on arrival in Britain. The proceeds are entered into the AngloSpanish trading account. In so far as it has increased the difficulties of the French Government, resulting in a renewed attack on the l'ranc, the Spanish situation has been a depressing influence on the stock markets, which have passed a lifeless week. The outbursts at the Nuremberg Nazi conference have caused general tiueiiMncss, and in view of this combination of influences it is not surprising that the advance in industrial shares has been halted. Oils and gold shares are quiet. OUTLOOK FOR WOOL COMING LONDON SALES SMALL QUANTITIES OFFERING (Received September 13, 5.5 p.m.) LONDON, Sept. 12 Wool buyers find it difficult to assess the probable course of values at the London sales. They aro impressed by the small quantities offering, which emphasise that stocks are very much lower than they have been at this time of the year for a long time. The extent of the Continental demand is uncertain. Some feci that the recent movements of tho franc make France an important influence. Italy possibly will operate. The Soviet's intentions, as always, cannot be predicted. Responsible traders anticipate that the sales will not open at a lower level than the values now ruling in Australia. SOUTH AFRICAN FLEECE JAPANESE PURCHASES CAPETOWN, Sept. 11 The presence of three Japanese observers on the opening day of the Cajietown wool sales indicates that Japan will be a more active buyer in the Union market. A rumour is prevalent that most of the wool offered will be bought by Japan and the remainder by Germany. BALLIN'S BREWERIES STATUTORY REPORT ISSUED A statutory meeting of shareholders of Ballin's Breweries (N.Z.), Limited. Christchurch, will be held on September 21 to discuss matters relating to the formation of the company or arising out of the statutory report. The report, which has been issued to shareholders, states that the total number of shares allotted is 200,510 of £1 each and of these 20,000 are fully paid. The total amount of cash received to August 31 was £85,155 for tho remaining 180,510 shares. The company, which has an authorised capital of £250,000 in ordinary shares of £1 each, went to allotment on June 23, its objects being to acquire the business of Ballin Brothers, Limited, and Hickmott's Victoria Brewery. "FALSE" PROSPERITY RACE FOR ARMAMENTS The view that present prosperity was based on tho rush of nations to construct armaments in order to complete defence in as short a timo as nossible was expressed by Sir Walter Carpenter gt the annual meeting in Sydney of W. R. Carpenter and Company, Limited, Island traders. Sir Walter said that slackness would inevitably follow tho rush. Governments should stop borrowing for public works, but when the slackness became apparent they should then help by restarting their public works programme. AUSTRALIAN GOLD OUTPUT RECORD JULY TOTAL Tho production of gold in Australia for July amounted to 101,615 fine ounces, the greatest quantity produced in any month since monthly records of production first became available in 1926. Its valuo was £896,943 in Australian currency. In July of last year the production was 77,497 fine ounces, valued at £673,681 in Australian currency. The gold production in Australia in the seven months ended July 31 last was 630,533 fine ounces, valued at £5,451,859 in Australian currency. In j the seven months ended July 31, 1935, I tho production was 464,391 fine ounces, | valued at £4,087,715 in Australian cur- : rency. Comparison between those two periods is affected by the industrial dispute on the goldfields of Western Australia during February and March, 1935. COTTON, RUBBER, COPRA, ETC. (Received September 13, 5.5 p.m.)' LONDON, Sept. 12 (Quotations on September 5 in parentheses.) Cotton. —Spot, 6.99(1 (6.70 d) a lb.; October delivery, 6.61 d (6.26 d). Rubber. —Para, KHd (lOJd) a 11m plantation and smoked, 7 11-16 d (7 11-16 d). Jute. —September-October shipments, £l7 3s lid (£l7 3s 8d) a ton. Copra. September - October shipments, South Sea, sun-dried, £l3 17s 6d to London and Rotterdam (£l3 , 10s) a ton; South Sea, smoked, £l3 'ss to Marseilles and Genoa (£l3 2s 6d); plantation, Rabaul, hot air dried, £ls to London and Rotterdam (£l4 12s 6d). Linseed Oil.—£2B 5s (£2B) a ton. Turpentine. —39s 3d (39s 9d) a cwt. LIVERPOOL WHEAT PRICES (Received September 13, 5.5 p.m.) LONDON, Sept. I'J Wheat. —Liverpool futures: October, 7s 7id a cental; December, 7s 74d; March, 7s 4sd.