TRADE OUTLOOK

New Zealand Herald, Volume LXXVI, Issue 23320, 13 April 1939, Page 7

TRADE OUTLOOK

AUSTRALIAN DECLINE MARKET TRENDS OVERSEAS Declines of £15.600,000 in imports and £ 15,000,000 in exports for the present financial year are calculated in a ie\io\v of Australian overseas trade in the statistical bulletin of the Commonwealth Bank for March-. During the past three months, there has been sjive decline in manufacturers' estimates of prospects.

Tlie general position in the Uni'ted Kingdom appears to have changed very little in recent months, and the outlook depends largely on the trend of 'new investment for commercial and defence purposes in the home market, and on the course of business activity abroad, adtls the bulletin. The consumption goods trades remain fairly active, and new orders is encouraging. The level of activity in the United States of America has been generally maintained. The Federal Reserve Board's seasonally adjusted index of industrial production was 99 in February, compared with 101 in January and 79 in February, 1938. This index, which had declined from a peak of 118 in May, 1937 to 76 in May, 19:$8, recovered to 104 in December, 1938. The expansion of manufacturing Production in the latter half of 1938 was sharpest in durable goods. Publicly financed construction contracts in the December quarter were the highest on record, and residential building was at the highest level since 1929. Other privately financed construction remained substantially lower than a year ago. Retail trade in February was at a higher level than in February, 1938,

ENTRY OF 29,612 BALES CHRISTCHURCH WOOL SALE TYPICAL FINAL OFFERING [•U TELEGRAPH—OWN' CORRESPONDENT} CHRISTCHURCH, Wednesday A heavy offering comprising 29.612 bales will he placed before buyers at the fourth Christchurch wool sale on 1 ridav, Iho sale is the final fixture for Christchurch, and will he followed by Only two more sales, one at Runedin on April 10 and ono at Wellington on .April 24 The offering is typical of the final Christchurch sale. It contains almost every sort of wool produced in the province, from crossbreds to Merinos, and also includes a hig proportion of West Coast wool. r Jhe quality is, as usual, not up to that of earlier sales, but is quite as good as that of a normal fourth sal<> ottering. The wool has opened up with a big proportion sandy and discoloured and showing signs of the weather. Some is of poor colour, tender, and dustv.

The exceptionally big catalogue has caused something of a rush in the stores, where space for displaying wool has-been freely used. The main reason is that a larger quantity of wool has been available this season because of the inex-easc in flocks. The early closing of the catalogues for the first three sales was also a factor. The first three sales of this season have seen 71.173 bales disposed of. Last season the sales were 92.G01 bales, and in the previous season the record number of 100,858 bales was sold, but those two totals include the wool sold at subsidiary sales, probably amounting to 2000 bales in each case, ft is possible that this season will see that total eclipsed.

HIGH-PRICED EGGS RATES AGAIN ADVANCED FJISE OF 3D A DOZEN A further advance of .'3d a dozen in tho wholesale price of first and B grade hen and duck eggs and a rise of Id a dozen in C grade duck eggs is announced by the Auckland Egg Marketing Committee. Quotations effective from to-day are as follows: — Hen: First grade, 2s 9£d a dozen; B grade, 2s 4J<l; C grade, Is 4Jd. Duck: First grade, 2s ojd a dozen; B grade, 2s 3Jd; C grade, Is 6.} d. Country storekeepers' minimum buying prices for first grade eggs are:— Hen, 2s 2id a dozen; duck, Is lid.

GOLD AND SILVER QUOTATIONS IN LONDON LONDON", April 11 Fine gold is quoted to-day at £7 8s 6d an oz., same as on April 6. Silver is quoted at 19 11-16 d an oz. spot, and 21 9-1 Gel forward, compared with 20d and 19 11-16 d on April 6 The quotation for silver at per fine oz. is 21 9-l(3d, same as on April 6. PRICES OF METALS TIN AND COPPER EASIER LONDON, April 11 Following are to-day's quotations on the London metal market compared with those of April 4

PRODUCERS' FEDERATION MOVE IN AUSTRALIA The establishment of a federation of primary producers' organisations is to be considered at an early conference at Canberra. According to the report of the president, Mr. M. P. Dunlop, to the annual meeting of the Primary Producers' Union, the conference is for the purpose of creating an All-Aus-tralian organisation of producers separate from the commercial aspect which, to a large degree, was" the function of statutory hoards.

Mr. Dunlop added that if the federation was established it might provide an avenue for the subsequent consideration of the' wider question of commodity councils. The establishment of the councils was a unanimous decision of the Empire Producers' Conference, but, except for the inclusion of mutton and lamb within the function of the Empire Beef Council, no practical steps had been taken to give effect to the decision. Kindred organisations throughout the Empire had accepted the resolutions in principle, Mr. Dunlop proceeded, but difficulty had been experienced in Canada and New Zealand, where the position was outside the control of the producers.

\pril 11 April 4 Per ton Per ton I' d £ s <1 Copper, stnn., spot 41 1!> ''? 4'_> 33 3 Va Copper, stan., 3 mos 5 ' /a l'J 1!) •I'/a Copper, electrolytic 47 i r> 10 0 4S 0 to 0 •IS 15 0 4!) 0 0 Copper, elct., wire bars •IK 3 5 n 49 0 0 Lead, soft spot . 14 0 7% 14 8 l'/a Lead, soft forward 3 4 5 "Va 3 4 8 IY? Spelter, spot 1:3 G 3 13 10 i /a Spelter forward .. 13 11 3 13 35 7Va Tin, stan., spot .. Tin, stan., 3 mos. •J 11 5 0 215 7 (! •_'ll 1'2 (> •J 13 12 a