AUSTRALIAN SEASON

New Zealand Herald, Volume LXXIII, Issue 22612, 28 December 1936, Page 5

AUSTRALIAN SEASON

SCOPE FOR OPTIMISM

RECOVERY IN WOOL INTERNATIONAL INFLUENCES The view tliut seasonal conditions in Australia were fairly good, or sufficiently good to allow a little optimism, was expressed by Mr. M. K. Niall, chairman of directors oi Golcisbrough Mort and Company, Limited, at the half-yearly meeting in Melbourne recently. Taking into consideration the fact that competition from such an important section as .Japan was still not forthcoming, the demand experienced at the opening wool sales and the level of values disclosed had been more satisfactory than expected, he said. As the sales progressed, competition had widened considerably in scope, and the keen demand from Britain and the Australian mills, together with the improved demand from the United States of America and the Continent—in particular since the devaluation of the franc —had resulted in very satisfactory selling conditions. "Regarding the future of the wool market," said Mr. Nii ,H . "and. indeed, of all markets, m.v opinion is that they will be largely alfected by the agreement between Great Britain, the United States, and France on the relationship of sterling, the dollar, and the franc. While other more exciting events may claim attention from time to time, this appears to me to be one of the great movements in the recovery of the world. "Droughts and depressions have often occurred before in Australia, and I think it is not too optimistic to say, in regard to the recent depression, that it is passing as the others have passed. The capacity to respond to good seasons in Australia has always been remarkable, and the time has arrived when that response will he greatly assisted by the sympathy and wisdom of Governments and taxation departments. If the profits from good years, which are in effect at this stage only replacements of capital, are to be taken from us, then, naturally, the recovery cannot be as rapid as it has been in the past."

OUTLOOK FOR TRADE "STERLING AREA" NATIONS GREAT HOPE OF THE FUTURE Tn a world where there is so much illwill, the goodwill between the nations oi the "sterling area" constitutes the great hope of the futuro, said Sir Stephen Demetriadi, president of the London Chamber of Commerce, at a luncheon in honour of Senhor J. A. Barboza-Carneiro. Commercial Attache to the Brazilian Embassy in London. "International trade," added Sir Stephen, "should be an exchange of goods and services to the mutual advantage of both parties—a bond of common interest holding the nations together; instead of that, it has become a source of intense rivalry in the desire to export as much as possible and to import as little as possible."

NEW COMPANIES SOUTHERN REGISTRATIONS The registration of the following southern companies is published in the Mercantile Gazette: — PUBLIC Ngahero Gold Dredging, Limited. Timaru.—Capital, £205,000 in 200,000 ordinary £1 shares and 100,000 deferred Is shares. Subscribers: Sydney—Alluvial Prospectors, Limited, 77.000 £1 shares, 50,000 Is shares. Timaru — British Developments (N.Z.), Limited, 77,000 £1 shares, 50,000 Is shares; New Zealand Prospecting and Mining, Limited. 40,000 £1 shares. Caboolture, Q. — J. M. Newman, 1000 £1 shares. Sydney—T. M. Owen, 1000 £1 shares; G. F. Davis, 1000 £1 shares. Gore —It. B. Baunerman, 1000 £1 shares, Greymoutli—R. Methven, .1000 £1 shares. Barrytown—J. Jtyall, 1000 £1 shares. Objects: Mining and incidental. Southland Farmers' Lime Company, Limited, Invereargill.—Capital: £II,OOO in shares of £1 each. Subscribers: Invercargill—F. H. Tucker, 200; J. H. Boyd, 200; J. A. McDonald, 200; H. G. Mason, 100; W. Batchelor, 100; H. S. Mitchell, 100; D. Teviotdale, 100. Objects: Lime manufacturers and merchants. PRIVATE e Pine Products, Limited, Dunedin.— Capital: £4OOO in shares of £1 each. Subscribers: Dunedin —D. C. Jolly, 200; J. Haig. 100; 'W. F. Forrester, 200; H. M. Maekav, 500; T. P. Cuddie, 100; J. Hanicr, 100; S. M. Townley, GOO. Lime Hills —W. Swale, 400. 'Winton —J. B. Swale, 100. Edievale—J. Winter, 250. Mosgiel—J. A. Fowler, 100; C. G. Shand, 250; J. Fowler, 100. Alianton —W. I. Nichol, 200. Outram — li. Mitchell, 150. Pembroke —J. Faulks, 200. Cromwell—,T. Wishart, 100. Otama —R. S. White, 100. Stirling—lt. Hastings, 250. Objects: Indent agents, brokers, merchants, retail and wholesale distributors of general merchandise and in particular disinfectants, sheep dips, stock and animal medicines and incidental. Homes Investments, Limited, Napier. —Capital: £.'5800 (3300 preference shares of £1 and 500 ordinary shares of £1). Subscribers: Auckland —H. E. ,Jones and IJ. M. Le Pine, 230; H. E. Jones, 1250; I!. M. D. Jones, 1170; H. A. Kennedy, 150. Napier —H. E. Sims, 150 (all preference shares). Auckland- — H. E. Jones, 50; R. M. D. Jones, 00. Napier—R. M. Le Pine, 250; J. E. Ethcridge, 100; I. T. Le Pine, 50 (all ordinary shares). Objects: Land and commission agents. McNeill and Tripp, Limited, Queenstown. —Capital: £3OOO in shares of £1 each. Subscribers: Dunedin —H. Henderson, 1501. Queenstown —J. J. McNeill. 1299; A. A. Tripp, 200. Objects: To acquire the business of a storekeeper and general merchant now carried on by J. J. McNeill at Queenstown.

Dewe (H. J.), Limited, Wellington. —Capital: £2500 in shares of £l. Subscribers: Feilding—H. J. Dewe, 2499; Lily M. Dewe, 1. Fellmongers, wool scourers, and wool and skin buyers. Kreglinger and Fernau (N.Z.). Limited, Christchurch. —Capital: £'2ooo in shares of £l. Subscribers: Antwerp—A. 10. Kreglinger, 1500; H. S. Fernau, 450. Sydney—lC D. Why to, 50. To acquire the business in New Zealand of Kreglinger and Fernau (Australia), Limited, woolbrokers and skin buyers. Aokroyd and Macklin, Limited, Christchuroh. Capital: £2OOO in shares of £l. Subscribers: Christehurch —A. K. Aekroyd, 999. Wellington—L. C. Macklio, 1000; J. S. Meadowcraft, 1. Woollen and textile merchants.

CUSTOMS EXCHANGE RATES Rates of exchange ruling at the announced dates of departure of vessels named are shown in the following table. They are subject to confirmation by the Customs Department when the exact time of departure is learned. Finally declared rates are marked*: — Canadian Constructor, Canada, dollars *4,88 City of Manchester, America, dollars *4.91