INDUSTRIAL PROGRESS

New Zealand Herald, Volume LXXV, Issue 22939, 18 January 1938, Page 5

INDUSTRIAL PROGRESS

COMMONWEALTH POSITION A SLOWING-UP PREDICTED SOME RELAPSE POSSIBLE The opinion that industrial progress in Australia will be decidedly slower this year than in 19ii7 is expressed by the National Bank of Australasia in its latest monthly review. However, it states that the long-range view of Australian industry should not bo materially affected. The review points out that a year ago export markets were expanding and commodity prices, which had been steadily rising throughout 1 D.*36, were continuing on an upward course. The peak of export prices was reached in April, but the movement since was steadily downward, resulting in an aggregate fall of 'JO per cent between April and November. Another factor affecting industry is the rise in production costs resulting from higher prices of imported goods and of wage increases. The most important factor likely to affect business during the ensuing 12 months is the behaviour of oversea prices. Certain signs of stability have been apparent recently, and prices of some commodities have hardened slightly, but what may be classed as a normal condition of markets and prices seems far (from being yet attained. Another cause is to be found in the material growth of local secondary industry of the last. 12 months, with an accompanying demand for larger quantities of machinery and plant and of raw and partly manufactured goods and materials. 1 his expansion cannot be expected to continue unabated for any long period. Also a decline in local purchasing power usually follows a recession of commodity prices, and if this eventuates, it will lead to a contraction of the market for imported goods. There will probably be some increase this year in the aggregate quantity of rural products, which are all available for export, but it will be not enough to compensate for the effect of lower prices upon the total value of the year's exports. The analysis, the review concludes, suggests that with export values declining and imports falling less rapidly, internal trade and industry may suffer some relapse. There are, however, good reasons for expecting that, although the upward movement of the last few years may be less pronounced, slight retrogression, if any, should be experienced. Confidence in the economic stability of the country is strong and the financial position is liquid.

TIN CONSUMPTION , INCREASE OF 21,000 TONS FIGURES FOR LAST YEAR An increase of 21.000 tons, or 13J per cent, was shown in the world consumption of tin for the year ended October, according to statistics of the International Tin Research and Development Council. Franco was the only large consumer to register a decrease, which amounted to 7.6 per cent. In the United Statos tin consumption increased by nearly 15,000 tons, or 20} per cent, and other important advances occurred in the United Kingdom, about 15 per cent; Russia and Germany, each about 32 per cent; Japan, 23 per cent; and Canada, 17 per cent. The apparent consumption of the principal countries is given in the following table:—

Year ended Oct., Riflfl or 3.H37 1930 Fall Long Tons. Per cent United States . . 80,057 71,405 +20.5 United Kingdom .. 24,7'23 21,512 +14.9 Russia . . .. 32,200 0,228 +32.2 Germany .. .. 31,027 8,357 +31.0 Franco .. .. 0,071 0,813 —7.0 Japan .. 8,072 0,571 +22.8 Other countries .. 20,378 32,179 -8.7

Total .. .. 380,528 15!),005 +13.5 World production of tin plate for the same period increased by 14.7 per cent from 3,581,000 tons to 4,106,000 tons. Exports of tinplate from the United Kingdom, the United States and from Germany showed considerable increases, while Italy is now exporting at the rate of 21,500 tons a year, against 8323 tons in 1936 and 30.586 tons in 1935. World production of tin in October, 1937, is given as 16,478 tons, against 19,249 tons in September. World consumption was 16,476 tons in October, against 14,43!) tons in September. Consumption 'in the United Kingdom increased from 1923 tons in October to 2660 tons in November, and in Holland there was an increase from 90 tons to 153 tons. Switzerland took 102 tons in November, against 159 tons in October and 71 tons in September. PROFITABLE MINES RECORD IN TRANSVAAL A low grade record was established by the Transvaal gold mining industry in October, when oro of an average grade of 4.3Bodwts. was milled. The previous record of 4.426dwt5. vas established in August. During the first ten months of the year a total of 42,566,550 tons was milled. The yield was 9,767,9270z., worth £66,855,211. The estimated working profit of all Transvaal mines from January 1 to October 31 was £26,511,876, of which £8.510,302 have so far been paid out in dividends. PRODUCE IN LONDON OUTLOOK FOR WOOL SALES The Bank of New South Wales has received the following cablegram from London, dated January 15: —Wool: When the sales open on January 18 it is expected that prices generally will be about the same as the close of the last sales. Mutton, ewes. 3£d to 4jjd per lb.; wethers. 33d to Gd. Lamb, 7id to 8/.d per lb. Beef, 3d to 4Jd per lb. Pork, 7id to 7jd per lb. Butter, 112s per cwt. Cheese, white, 69s per cwt.; coloured, 70s. STOCK SALES WAINGARO YARDING It is reported by Wright, Stephenson and Company, Limited, that at its lamb and wether sale at Waingnro, a yarding of about 2000 head was offered and sold, Competition ,was keen and prices realised were on a par with those of recent Wnikato sales. A linp of B'l wether lambs sold at IKs 1(1; 57 ewe iambs brought 15s lid; 120 wether lambs, Ms Od; and 21S wether lamhs, lis (id. Other wether lambs not so forward sold from lis Id to l.'is Oil, and cull lambs made Ss lid to 10s Id. A yarding of about 1200 two-tootb wethers met with a steady demand and prices ranged from 22s to 23s fid. TE PUKE QUOTATIONS [I)Y tklkg rapk—OWN corukspondext] TE PUKE, Monday At the annual lamb and wether fair held by the New Zealand Loan and Mercantile •Agency Company, Limited at Te Puke, about 7000 lambs were yarded, of which there was a total clearance at prices chiefly in favour of vendors. The bidding was brisk right throughout and in all the quality of the sheep yarded was a credit to the district. A feature of the sale was the keen demand for shorn lambs, a nice line on account of Ross Brothers making IDs fid. A lino -of woolly Roinney ewo lambs on account of Mr. W. Reid made 225, the wethers from Ihe same vendor selling at Ids 2d. Fat and forward Southdown lambs made 18s Od; lighter, to 17s lOd; best shorn forward lambs, to IDs (id; good shorn stores, 17s; smaller shorn stores, 15s 4d; best woolly stores, mixed sex, 15s 8d; poorer Quality, Ss Gd to lis Id; cull ewes, fis Gd; best white-faced ewe lambs, 225; smaller, to 10s 4d; white-faced wether lambs, to 16s 2d. A pen of wethers was yarded, a good line of store two-tooths making 25s and a few fats 25a 6d.