TRADE WITH JAPAN

New Zealand Herald, Volume LXXIV, Issue 22619, 6 January 1937, Page 5

TRADE WITH JAPAN

COMMONWEALTH TREATY TERMS OF AGREEMENT PIECE GOODS AND WOOL [VUOM OUIt OWN CUKItKSrOXDKNT] SYDNEY, Dec. 131 Marked revival of trade between Australia and Japan, particularly in wool and textiles, is expected from the settlement; of the trade dispute. The principal provisions of the treaty are:—Australia agrees to import 102,500,000 square yards of Japanese cotton piece and artificial silk goods a year, exclusive of calico for hagmaking. which is unrestricted as before. Japan will issue permits for the import of not less than 800.000 bales of Australian wool up to June ;>(), 19J8, at the rate of y.'1.'1.000 hales a year. Kach country will remove immediately the special prohibitions imposed against the imports of the other, and Japan will withdraw .superduties against certain Australian products. The Commonwealth Government will reduce the existing intermediate tariff rates on cotton piece goods and on artificial silk piece goods. Japanese cotton and artificial silk piece goods will be exempt from primage duty. The Commonwealth's decision to import textiles during tin; currency of the treaty is dependent upon orderly marketing by Japan and "equitable supply" to Australian merchants and manufacturers.

j The negotiations for the treaty lasted j seven months, and the result is a j triumph for the Australian Minister in | charge of trade treaties, Sir Henry i Gullet, and the Japanese Consul-Gen-I era], Mr. Murai. "The settlement : achieves the Commonwealth Governj nient's intention at the outset of the | dispute," said Sir Henry Gullet. "The j terms of the agreement are fully satisfactory to Japan, and industries in both countries will benefit. The dispute had its origin in the rapid development •in the export of Japanese cotton and artificial silk piece goods to Australia. Jf action had not been taken b\' the Commonwealth Government, Britain would have lost almost the whole of her export trade to Australia, but the action was in defence of the overwhelming majority of Australian primary producers, who arc dependent on the British capacity to continue to purchase Australian primary produce 011 an expanding scale." Japanese purchasers of wool from Australia during the season 1935-36 were 779,857 bales, valued at more than £11.000,000. Since May, Japan, as the result of the trade dispute, has bought no Australian wool oi>enly. Normal purchases during those six months would have been about 390.000 bales, valued at about £7,000,000. Japan's purchase of the allotted quota of 1 2(37.000 bales during the second half of | 1936-37 season should be valued at I more than £6,000,000. For the year 1937-38, her purchase of the full quota of 533,000 bales will show a return to j Australia of considerably more than j £12,000,000. ! QUOTATIONS FOR WHEAT ! LONDON AND LIVERPOOL FUTURES IN CHICAGO LONDON, Jan. 4 Wheat. —Cargoes are firmer and par- | eels are dearer. Futures —London: March, -17s Sid a quarter; May. 4Gs -Id. Liverpool: March, 9s lj[d a cental; Mav, 9s; J ulv, 8s 102 d. CHICAGO, Jan. 1 Wheat.—May, 1 dollar, 35J cents a bushel; July, 1 dollar 19 cents; September, 1 dollar 15* cents. POSITION IN CANADA LOSSES OF THE BOARD WINNIPEG, Jan. -4 The Wheat Board reveals the fact that it made a loss of 11,000,000 dollars on its 1935 operations through the guaranteed price. Its holdings were reduced from 312.000,000 bushels in December, 1935, to 81,000.000 at the end of the crop year last July.

THE CITY MARKETS BANANAS SELL CHEAPLY POOR DEMAND FOR FRUIT There was a complete collapse in the values for bananas at the City Markets yesterday owing to several thousand cases of Sainoan bananas being unloaded from the Matua in ripe condition. The fruit was sold at prices ranging from Ss to 13s a case. Values for plums, peaches and tomatoes were lover, the demand for these lines being disappointing. Cucumbers and marrows, which were in heavy supply, sold at cheap rates, but carrots realised higher prices than have been known for years. Green peas and beans continued to sell at lower rates than those ruling before Christmas. New season's onions were in keen demand and rhubarb also advanced in price.

Poultry was marketed in medium I supplies, the demand being poor. Values showed an casing tendency. Prices were:— VEGETABLES Beet, !)d to Is (id dozen: celery, Is nd to •Js til bundle; carrots, Is (id to 2s ))d dozen; cauliflowers, 3s to ."is a suck; cabbages, 3s to 'is (id sack; on benches, Is (id to 3s .'id dozen; cucumbers, (id to 2s dozen; French beans, Is (id to 2s bag; stringless beans. 2s to is; green peas, :ts to C>s; Island kumaras, lis to lr.s cwt; lettuce, ltd to 2s (id case; marrows. Is to Us (id dozen; onions, new season's, (js to 8s bag; potatoes, No. I, 2s (id to Is; pumpkins, new season's. 12s to l.*>s nd cwt; benches, Is to ;ls (id each; parsnips, nd to Is (id dozen; radish, :td to (id; rhubarb, 2s to lis (id; spinach, (id to Js Mid; spring onions, 8d to Is Id bundle; swedes, Js to (is bag; turnips, (id to Is dozen. FRUIT Apples, Delicious, ex cooler, Ms to 7s; Tied Astracban, is to (is (id; green cookers, ,-»s (id to 7s; Stunner, 2s to r>s; windfalls and others, 2s to ;is; peurs, Beacon, ">s to (is; tomatoes, outdoor, extra choice, 2 l id to 3V 3 d Hi. others. Is ild to Ms (id case; hothouse, 2'.d to (id ; lemons, choice, cured. 12s to Mis; others, .">s to Ss; mandarins, Japanese, ins (id; bananas, originals, 8s to tits; grapes, hothouse, Hamburg, Is .'id to Is (id; peaches. Maine Boss, ;!s to (is crate; others. Is (id (.I .is; plums, Burhank, 2s (id to lis (Id case; Sultan, ;!s to ."is (id; Santa Bosa, ."is to 7s; strawberries, Captain Cook, extra choice, Is to Is iid; others, Mid to Ild; Marguerite, extra choice. Mid to Is; others, 7 v id to nd; loganberries,' to Ild; black currants, 7s lid; mushrooms, Is lid to Is ild lb.

POULTRY Cockerels, heavy breeds, prime, 2s to ."is; heavy breeds, not prime, is :id up; light breeds, prime, Is (id to :is; light breeds, not prime, !>d up; fat roosters, heavy breeds, prime, 2s to lis; light breeds, Is (id to 2s; f;it liens, heavy breeds, 2s (id to 3s (id; light breeds, Is (id to Is ild; drakes, young, prime, Is !)d to 2s (id; young, smaller, is .".d up; old. Is :td to Is !ld; ducks, old. Is 3d to Is nd; cockerel chicks, heavy breeds, (id up; light breeds, 2d up; guinea fowls, .'is to ."is. BUTTER AXD EGGS Eggs, hen, A grade, Is t''.d dozen; B grade, Is .'i'-il; (' grade, Is o'.d; duck, A grade, Is 2'.d dozen; B grade, Is l';d; C grade. 11/jd; farmers' butter, Od to 10 l ,id per lb,