DRY MEASURE

New Zealand Herald, Volume LXXV, Issue 23033, 10 May 1938, Page 7

DRY MEASURE

NEW AUCKLAND SYSTEM ADOPTION OF THE CENTAL GRAIN MERCHANTS' , DECISION Following the successful results obtained by two Auckland grain merchants who undertook an experiment with a modified form of the decimal system of weights in selling grain by the 1001b. instead of by the bushel, the Auckland Qrain and Seed Merchants' Association has decided to adopt this method as the basis of quoting and invoicing all grain and produce. In the meantime, however, it is not proposed to include potatoes, chaff, onions or meat meal in the new system of quotation. l'ho association considers that the system will benefit merchants and customers alike, as it will do away with tho. difficulties occasioned by the varying weights of bushels of different grajns. Bv charging so much per 1001b.,* clerical work will be greatly simplified, and an easier method of comparing tho relative values of the several varieties of grain will bo provided.

It was pointed out by one merchant yesterday that wheat weighs 601b., oats 401b., barley 501b., and maize 561b. a bushel, respectively. Bushels of oats and maize also vary in weight according as they are crushed or uncrushedThe new unit at present was being adopted only in Auckland, but the merchant said he had no doubt that its use would spread to other parts of the Dominion as soon as its advantages were realised.

CANADIAN RECOVERY SOUND CAPITAL INVESTMENT FOREIGN DEBT REDUCED Commenting on the fact that Canada is amortising her foreign debt at a rate of between 3.5 per cent and 4 per cent' a year, the Royal Bank ot' Canada, in its March news letter, states: —"This constitutes a commentary on the type of recovery which is taking place in Canada. Increased production is the result of increased utilisation of existing plants and machinery. Even with mining included there has been relatively little outlay for new capital development in Canada in recent years.. In the present interlude capital goods which were created in former years are paying returns and the surplus production, as compared with consumption, is permitting a gratifying reduction in foreign indebtedness. The results suggest that, on the whole, former' investment in Canada has been sound and is capable of making good earnings." The Dominion Bureau of Statistics of the Department of Trade and Commerce estimates the value of British and foreign investments in Canada in 10;i~ at £1.712,000,000 sterling, and the value of Canadian holdings abroad at£423,500.000 sterling. Canadian securities owned abroad to the value of £-12.500.000 sterling were retired in 1937, and a like amount retired in the previous year.

TRADE WITH AMERICA PROTECTING THE DOMINION PRIME MINISTER'S ASSURANCE The Government is not in a position to supply information about proposals for a trade agreement between Britain and the United States, according to a letter from the Prime Minister, Mr. Savage, received by the council of the Canterbury Chamber of Commerce. The letter was in reply to an offer made by the chamber to set up a special committee representing trading interests to study the major proposals' for a new agreement, and to make representations to the Government about possible ill effects of the British and American negotiations on the Dominion's exports. The chamber, in its offer to the Prime Minister, pointed out that any revisions made in the existing arrangements would have a detrimental effect on the Dominion's export trade with the United States, unless the Dominion was a party to any concessions that might 'be made to other parts of the Empire, and particularly to Australia. Australian representatives were now in America endeavouring to secure a reduction of the United States import tariff on raw wool from Australia, and unless a similar concession was made to New Zealand, Australian export of wool to the United States would undoubtedly benefit at the expense of this Dominion. "There is no doubt also that any reduction of the very high_ United States tariff on wool from New Zealand would result in increased exports to that country," the chamber stated. "These exports had been materially reduced in recent months through tHe unwillingness of American wool importers to operate in New Zealand while their wool import tariff remained in doubt.

"It, is the policy of the United States to extend to other countries, including New Zealand, the benefits of any tariff concessions made under trade agreements with any other country," stated the Prime Minister's reply. "In the circumstances, it seems unlikely that any concessions will be granted to Australia, which will not also be extended to' New Zealand. Your chamber may be assured that the Government will maintain a close watch on the position with a view to safeguarding the trade of this Dominion."

PUKEKOIIE PRODUCE STEADY TONE PREVAILS [fkom our own correspondent] PUKEKOHE, Monday There is a fairly steady tone in the produce trade at Pukekohe at present. The demand for Pukekohe onions remains firm at the quotation of 13s per cwt., f.0.r., Pukekohe, which has now ruled for a month. The quotation for table potatoes is also unaltered at os 3d per cwt. Autumn-grown Gamekeeper seed potatoes are selling at £9 10s to £ll a ton, according to the quality of the sample, while a small quantity of Arran Chief seed is finding a market at 13s per cwt. Pumpkins are still available in ample supply, and continue to go away at 6s per cwt. for grcv varieties and 2s 9d for reds. Pie Melons remain ht last week's value of 4s 6d per cut., carrots and swedes at 3s 9d a sugar hag, and parsnips at 4s lOd a sugar bag. Kumaras have fallen 6d a sugar bag in the past fortnight, being now down to 6s. Cabbages are practically, the only green vegetables offering at present, and they are selling freely. The Savoy variety commands 14s 6d a sack and lis 6d a bag, while the drumhead and Henderson varieties bring 12s 6d a sack rind 9s 4d a bag. Cauliflower crops are making good growth, and cutting is expected to start in earnest in about ten days' or a fortnight's time. Longkeeper variety onign seed is selling at 13s per lb. Ballarat cooking apples remain at 8s 6d a bushel case,