TRADE WITH FIJI

New Zealand Herald, Volume LXXV, Issue 23149, 22 September 1938, Page 9

TRADE WITH FIJI

high freight rates AUSTRALIAN ADVANTAGE EFFECT OF LOADING COSTS The disabilities under which Now Zealand labours in trading with Fiji, on account of tho identical freight rates from ' Auckland and fiomv Sydney to Suva, are -discussed by the secretary of tho Department of Industries and Commerce, in reply to representations made bv the Auckland Chamber of Commerce. It is explained that, although the distanco from Sydney to Suva is substantially greater than' from Auckland to SuvA, high loading costs in the Dominion have an effect on the rates from New Zealand. The department states that the question of differential,- freight rates was discussed' with the Union Steam Ship Company and tho Canadian Australasian Line, and it was pointed out tliat existing freight rates were based primarily on the costs of loading and unloading, distances involved, i;i this case, having little influence. "While, therefore, the distance from New Zealand to Fiji was less than from Australia to Fiji, the loading costs in New Zealand ports wero almost double those in Australian ports. The department had been assured that, were it at all possible, these New Zealand shipping companies would be only too eager to reduce freight rates from New Zealand, for, under existing circumstances, they would benefit from any resulting increases in trade. However, when all the factors were taken into consideration, it was not possible for these companies to make any. such reduction at the present time. Another point, the department stated, was that nothing but a material reduction in the existing freight rates that were charged would increase the ability of New Zealand commodities to compete in the Fijian market with many Australian and British commodities, which were now being increasingly imported into Fiji. These freight rates average 50s a ton (measurement) at present, and the department was unable to make any arrangements with the shipping companies in effecting a reduction.

MILNE AND CHOYCE

PAST YEAR'S GOOD RESULTS NEW BUYING ARRANGEMENT Gratification with the results accomplished during the past trading year was expressed by Mr. J. S. Milne, chairman of directors of. Milne and Choyce, Limited, when presiding at the annual meeting yesterday. A satisfactory increase in turnover had been accompanied by higher profits, facts which spoke for themselves,. Mr. Milne said. ' This is the firm's 72nd year ns a business and its 37th as a company, so that it could claim to rank as one of the old-timers, continued the chairman. An important move was made during tho year by linking up with the associated houses of David Jones, Limited, for overseas buying. Included were eight establishments in Australia and New* Zealand, and they possessed a very fine organisation overseas. Already the company had felt tlie benefit of the combination and would do so more during the coming season, which had* opened promisingly. Of course, as with other businesses, they wore faced with heavy taxation and problems arising from industrial legislation! Tho company's staff numbered (300, who worked under 14 different awards. This provided almost a whole time-job for one individual.-"So far as the staff is concerned," concluded 'Mr. Milne, "J. must say that we have had very loyal support from them." v » Tho report and balancG-shect, details of which were published in the Hkiiami on September .'5, were adopted. Tho retiring directors, Messrs. H. V. Chovco and K. S. Milne, wen l reelected. A vote of thanks was accorded to the directors, management and tho staff. '

GOLD PRICE LOWER

QUOTATIONS FOR SILVER

LONDON, Sept. 20

Fine gold is quoted to-day at £7 4s an 07.., compared with £7 4s 7d .yesterday.

Silver is quoted at 19id an oz. spot, and 19Jd forward, compared with 20d and 20id yesterdav. / The quotation for silver at per fine oz. is 20:icl, same as yesterday. .

PRICES OF METALS ; AN EASIER TENDENCY LONDON, Sept. -20 Following are to-day's quotations on the London metal market compared with those of yesterday,:— Sept. 20 Sept. 10 Per ton • Per fon £ s d £./ s d Copper, stan., spot 42 16 10% 43 8' l/ a Cop., stan.; 3 mos. 12 10. 4'/a 43 11.10/, Copper, electrolytic 48 0 0 " 48 5 0 - to to 40 0 0 40 *Bo Copper, elect., wire bars ... ~ 10 0 0 40 5 0 Lead, soft, spot .10 0 7 1 /, 10 3 IVa Lead, soft, forward 10 3 1 % 10 "> 7'/ a Spelter, spot .. 14 (i 3 14 10 3 Spelter, forward . . lilt 3 15 0 7'/i Tin, Man., spot .. 10,"> 17 6 190 7 6 Tin, stan., 3 mos, 10G 12 6 197 2 0