TIN PRODUCTION

New Zealand Herald, Volume LXXIV, Issue 22688, 29 March 1937, Page 5

TIN PRODUCTION

INCREASE LAST YEAR CONSUMPTION ALSO RISES AVERAGE PRICE LOWER A proli miliary estimate of 3 71.000 lons lias lioon made liy .llio Hague Statistical Office ol the 1 ntoniational j Tin Research and Development Council as 11io wiirM production of tin in ]!)•'!(), an increase ol about 27.800 tons out tlit' total for 1 '.I.'So. The largest, producing oountry was Malaya, which supplied :t!l jior oont, while tlio Dutch I Oast Indies contributed IS por cent. World consumption for ll'.'Ui is estimated at ]•"»!,0U0 tons, against 1 12.000 tons in lil.'i.j. Detailed oonsiiinption figures aro available up 1o the end of November, l'.KUi, and tlio following talilo gives the coiisuniption of the principal countries for the 12 months ended November and the increase or decrease as compared with the preceding 12 months: Rise or 103(1 im:i.) foil tons tons percent United States .. 7'J,7 i:t .">!),on.'l + •_'!.!) United Kingdom 'Jl.otHi 'JIII -.">.5 Franco .. .. si.mimi i + li).o J"!llSSia .. 0,"il8 (l.sKi +:!!>. ."> (lerman.v s.doi; Io.TOo -'JO. 'Jt other .. .. Mi,">oi -:s.«> ]SJS,HO,-100 +l-1.1.. hi the United States, consumption increased hy 11!.050 tons, or nearly 22 per oont. lint in the Tinted Kingdom there was a decrease of 5J per cent. Consumption in France increased by 10 per cent, and in Russia by 3!t.J por cent. There was a decrease of 20 per cent in Germany, of 16 per cent in Sweden, and of nearly 8 per cent in India. On the other hand, consumption in Poland increased by over .'39 per cent, in Czechoslovakia by 20 per oont, in Belgium by 16 por cent, in Switzerland by 11} per cent, and ill Canada by nearly !) per cent. A comparison of the statistics of actual and apparent consumption indicates that consumers' stocks declined by about 1 100 tons during the year ended .November, 11KW. In the previous year there Mas very little change in these stocks. "World visible stocks stood at 22.ti11.") tons at the end of l!K!(j, representing 1 I.H per cent, of the present annual rate of consumption, whereas at the end of stocks wore 13,841 tons, representing y.7 por cent of the rate of consumption at that time. The average price of spot tin in J1 '.'so was £2Ol 12s Bd, against i-'22-"j lis 5d in lO.'Jij. BUTTER UP TO 102/TONE MORE OPTIMISTIC DEMAND OUTPACES SUPPLY (Received March 5.5 p.m.) LONDON, March 27 The butter market is definitely more optimistic. There lias boon abnormal holiday activity, Australian selling np to 101s ]KT owt. and finest New Zealand as high as 102s. The statistical position is much sounder. Current arrivals are insufficient to meet the demands of tlio trade, which was stimulated by extraordinarily keen competition ' among larger retail and multiple stores, which are soiling butter as low #s lOd per lb., which is almost the price of margarine. Similar conditions obtain in cheese, which sold so cheaply that reserve stocks are heavily depleted. Arrivals aro barely sufficient for current requirements.

BUTTER FOR IRELAND NEW ZEALAND PRODUCT PRICE IN THE FREE STATE [from oirit own correspondent] X.OXDOX, March 3 For the first time since 1932 New Zealand buttor has been sold in I lawl. Bad weather during the winter caused a slight shortage on the home market, and it became necessary for 1 lie Minister of Agriculture to lift the ban on imported butter for .a short period. Authority was given to butter merchants to import a supply of Now Zealand butter. The quantity required to bridge the gap between home supplies and market demand was less than SOOOcwt. Normally, sufficient butter is cold-stored in the Free State, together with home production, to meet home needs. If production had been normal the supply cold-stored before the winter season began would have been sufficient to carry the Free State over until April. Cows milked badly during the winter, however, owing to the cold, rainy weather, and the result was that tho necessity for fulfilling German and Belgian contracts caused a temporary shortage. Default on the contracts would mean a reduction of Free State quotas during the coming summer season when there will be a plentitude of stocks on hand. The importation of buttor was prohibited in the Free State in the autumn of I!W'2. None has been admitted since then until now. Referring to the situation, the Irish Times states; —A well-known butter traitor said that there had been an improvement in the situation, due to the fact that New Zeafand butter was being imported to fill the gap caused by the shortage in home supplies. "New Zealand buttor vas ini|w>rtod by the Government," he said, "and, although it could be bought very cheaply in London, it is not being given to the wholesalers at any lower price than Irish creamery butter. "This New Zealand butter is being imported by the Government, and is being sold by the Government to traders-—at a substantial profit—for distribution through retailers to the shopkeepers." Asked for an estimate of the Government's profit on the transaction, he replied, "About £SO a ton. If Now Zealand butter was imported by the traders themselves duty free—as it would have to be under present circumstances — it could bo retailed at approximately 4d under ruling prices. The retail price of butter to-day i» Is yd. If wo imported under the conditions L mention the price would bo Is Id."

The Xcw Zealand butter which was sold in the shops is stated to be of very good quality.

IMPERIAL TOBACCO LARGE PROFIT INCREASE The accounts of the Imperial Tobacco Company (of Circat Britain and Ireland) for the year ended October ai, 19150, show that the .net profit amounted to 1' 10,(i 12.952, an increase of £.'508.:51!). The corresponding figure for 19:51-35 was £10,274,60:5. Adding transfer fees and deducting £IO,OOO for directors' fees and £2> >O,OOO, against £500,000, transferred to reserve, there is a balance of £10,386,310, which, with £l,O-10.422 brought in, makes a total of £11.426,7:57 available. The directors propose to raise the total distribution on the ordinary stock by 1 per cent to 25 per cent, tax free, with a final dividend ot per cent, and a, bonus of 10 per cent, wliicli leaves a carry-forward of £1,183,767.