IMPORTS STILL RISING

New Zealand Herald, Volume LXXVI, Issue 23425, 15 August 1939, Page 5

IMPORTS STILL RISING

TOTALS FOR SIX MONTHS INCREASE OF £1,077,418 JUNE TOTAL UP 45 PER CENT Although the import restriction policy was in operation throughout the entire period, imports into New Zealand in tlio first half of this year showed an increase of £1,077,418, or 4 per cent, on those of the same period of last year. Imports during Juno were over 45 per cent higher than in June, 1938. The largest decline ill imports is shown in goods from the United States, which is closely followed by Australia. Other Empire countries which appear to have suffered from the restrictions are Ceylon and ,India. Of the principal foreign countries Japan and Switzerland also show decreases. Comparison Over Two Years The following table compares imports from the principal markets in the first six months of the last two years: I? i«e or 11 (3ft 1038 Fall United (-C X.Z.) (£X.'A.) lvintrdom 13,470,145 12.1)81,408 +4oi,(>4/ Australia . 3,344,01)3 3,508,505 Canada . . 2,802,021 2,354,430 +508,4b0 Tl. British 20,052,137 20,033,880 +018,251 U.S.A. 3,011,277 3,212,120 -170,852 Dulcll East Indies . 1,10 1,030 048,301 +■!.>.>,/20 Germany . 507,255 -100,507 +IOO, <4B Japan .. 515,010 570,171 -25,101 Belgium . :s - J7, ,70 325.724 +2,0. C! Sweden .. 225,401) 11)2,303 +33,100 Netherlands 100.817 10(5,705 +00,052 France l'J5,( !!)."> 113,305 +1 - .300 Total foreitrn 7,234,503 7.075.42G +150,107 It will be seen that of the increase of £1,077,418 in imports during the first half of this year, £918,251 was contributed by British and £159,107 by foreign countries. Substantial Gain to Canada The largest increase is shown by Canada, imports from' this quarter being £508,4.85 higher than in the first half of 1938. After the recent renewal of the trade agreement between the two countries Mr. Nash and the Canadian Minister of Trade and Commerce issued statements recognising that something should be done about the trade balance. fhe United Kingdom also has shared in the larger imports. The greatly increased figure shown by the Dutch East Indies is due to larger imports of motor spirit. Sonic foreign countries which benefited substantially are Germany, tlio Netherlands and Sweden".

For the six months of this year New Zealand has. adverse trade balances'of over £2,000,000 with Canada and Australia, over £1,500,000 with America, almost £1,400,000 with the Dutch East Indies, £230.000 with Japan and £214,000 with Germany. , The ' most favourable balance is £15,739,000 with Britain, followed by over £1,300,000 with* France and over £500,000 with Belgium.

PRICES FOR* PRODUCE LOWER OVERSEAS LEVELS MUTTON FALLS 21 PER CENT Prices for New Zealand produce on overseas markets in the first six months of this year generally were lower than in the same period ,of 1935. The following table shows the variation in the declared values of the principal exporV commodities: — Rise or'fall. Iter rent Butter .. - .. .. +2.0 Cheeso .. .. .. -5.0 Wool -7.5 Frozen heef .. .. +ll.O Chilled heef .. .. +3.1 Frozen pork .. .-1.0 ; Frozen, lamb ' . .. .. -4.2 . Frozen mutton .. .. -21.5 Variations, in the first half of 1938 compared* with the same period of 1937 were as follows: —Butter, 20.1 per cent higher; cheese. 19.9 per cent- higher; wool, 36.1 per cent lower; frozen heef, 20.9 per cent higher; chilled beef, 14.4 per cent higher; frozen lamb, 4.1 per cent higher. The all-round increase in export prices then shown, with the marked exception of wool, has not been maintained so satisfactorily in the first half of this yeah INCREASED TURNOVER CHRISTCHURCH EXCHANGE - RACE WEEK BUSINESS Although the Christchurch Stock Exchange was closed during tlio whole of last Tuesday and again during the afternoons of Wednesday and Thursday because of the racing carnival, the week's turnover of £11,629 was more than double that of the'previous week, when dealings amounted to only £5025. There was a much better demand for Government loans, in which securities valued at £2220 phiuiged hands, while bank shares were also popular, providing £2652 worth of business. The balance was divided as follows: —Debentures, £104; frozen meat, £308; "woollens, £150; breweries, £514; miscellaneous, £4798; mining, £583.

AIR TRAVEL (N.Z.), LIMITED LOSS IN PAST YEAR A loss of £753, against the profits of £9Bl and £917 in thq two preceding years, is shown in the accounts of Air Travel (N.Z.), Limited, for tho yearended June 30. After allowing tho usual depreciation and deducting the credit balance of £199 brought forward, a debit of £554 remains in tho accounts. No dividends or other appropriations are recommended this year. Last year a dividend of 6 per cent was paid,'* Tho directors report that tho company failed to obtain revision of tho mail contract rales. On tho Hokitilca.Jackson's Ua.v run this proved onerous, and while mails carried increased by 23 per cent, the remuneration was only 6.9 per cent more. Some. 78,7771b. of "jail were carried, compared with 63,8381b. in the previous year. Fewer scenic /lights wero mado because, of adverse weather. NEW COMPANIES The following company. registrations wero announced in the Mercantile Gazette:— PRIVATE Dn ill el (17.). Li iiulcd (Christchurch). Capital, £2OOO in shares of CI each. Subscribers: Itircnrlon—ll Daniel, IS<K>; IV. Daniel, 200. To acquire business of 11. Daniel, plumber. OVERSEAS COMPANIES MeFarlane and Burns (New Zealand) Proprietary, Limited. H. M. Kogerson, Auckland, authorised Mo accept on behalf of company service of process and notices required to lie served on company. Capital, £2,",,000 in °.*» 000 shares of .CI each. Subscribers: Moohneo Ponds. Melbourne —J. J. E. McFnrInne, one. Caulfield —A. E. Shirlow, one. To carry on in New Zealand and elsewhere manufacturers of and denlers in paper of nil kinds and articles inailo from paper or pulp, and incidental. REDUCTION OF CAPITAL ■ LiclitensU'in (L.) and Paykel (J.), Limited (Auckland); capital reduced from £IO,BOO to £15,000.