RECORD EXPORTS

New Zealand Herald, Volume 82, Issue 25300, 6 September 1945, Page 2

RECORD EXPORTS

HIGH RULING VALUES VOLUME BELOW PRE-WAR The re-export from the Dominion in 1944-45 of goods previously imported reached the abnormally high figure of £6,096,000. This was one of the contributing factors in the increase of exports for the production year ended Juno 30, when tlie record value of £86,922,973 was established. This export result exceeded the previous peak figure reached in the 1942 production year by £12,883,822. Even when New Zealand produce only is taken into account, however, the value of exports for 1944-45 is still a record at £80,820,843, being £ 10,009,060 above that for 1913-41 and £7,175,313 in excess of the 191 figure. Because of changing price levels experienced during the war, the currency value of tho Dominion's export trade no longer Rives the correct indication of the changes in the physical volume of exports. For instance, although the value of New Zealand produce exported in 10-14-15 was £'.23,442,745, or about 'll per cent, higher than that exported in 1938-39, the actual volume was 1 per cent less. To overcome this disadvantage index numbers of tho volume of cxports have been compiled by the Census and Statistical Department. In the following details covering the past decade the base period is the year ended Juno 30 (equals 100) in each case:—t Total Produce exports (i'N.Z. 'lndices (tN.Z. June 30 000's) Value Volume 009's) 1936 53,1 HO 93 101 53,000 1937 .. 01,139 112 105 01,021 1938 .. 01,371 107 102 01,919 1939 .. 57,381 100 100 57.892 MHO .. <>."», 101 lit 101 05,855) liMt 05,008 113 97 05,707 1912 .. 73,351 1 '2B 105 7-1,039 1913 .. 71,092 121 09 71,712 1914 .. 70,'217 122 95 73,235 1915 .. 80,827 141 99 80,023 •New Zealand produce only. reexports which have been on an abnormal scale in the past two years. The consumption within the Dominion of additional quantities of certain commodities owing to the presence of Allied servicemen, rationing of foodstuffs, and other factors arising out of a war economy have to be taken into account in any consideration of export statistics for recent years WOOL SCHEME PRAISED UNITED STATES ATTITUDE (Reed. 11.30 p.m.) NEW YORK. Sept. 5 American woolgrowers praise the British Empire wool disposal plan, believing it will mean stability for all woolgrowing countries in the crucial period ahead, when there will be a battle between natural and synthetic fibres, said the New York Herald-Tribune. It is felt the programme will enable wool countries, particularly in the Empire, which produce 75 per cent of all wool, to operate at a sound economic level, improve products and extend research. The world wool producers' competitive position will bo improved and controlled and distribution of the world's greatest surplus will be guaranteed, to the benefit of New Zealand and Australia particularly. WESTFIELD SALE QUOTATIONS UNCHANGED Rates for beef remained the same as last week in most cases at the Westfield fat slock sale yesterday although toward the qnd of (lie sale values were inclined to ease. Sheep were penned in average numbers and there was ready competition, all classes selling at last week's quotations. Lambs sold readily and values were firm, while competition was very keen for an average yarding of calves, values for extra heavy prime runners showing an improvement. There was a full entry of fat and store pigs. Alfred Buckland and, Sons, Dalgety and Co. and the New Zealand Loan and Mercantile Agency Co. report:— Beef.—There was a steady demand for average numbers of beef and in most cases rates were about the same as last week. Extra choice ox, to £3 per 1001b; choice and prime, £2 10s to £2 10s; ordinary ox, £2 lOs to £'2 15s; extra prime heifer, to £2 10s; choice and prime, £2 lis to £2 15s; ordinary cow, £2 5s to £2 10s; extra heavy prime steers, £26 to £3O; heavy prime. £23 to £25 17s Od; medium. £2O to £22 18s; light, £l7 to £l9 17s (id; small and unfinished, £l3 to £lO 17s Od; extra heavy prime cow and heifer, £ls to £10; heavy, £l2 10s to £l4 15s; medium, £lO to £l2 58; light, £8 to £9 15s; small and unfinished, £5 to £7 17s Gd. Sheep.—There was ready competition for average numbers of sheep, all classes selling at last week's quotations. Extra heavy prime wethers, £2 10s to £2 12s; heavy, £"2 8s to £1 9s 9d; medium, £2 Os to £2 7s 9d: light, £2 to £2 ss; plain and unfinished. £1 10s to £1 19s; extra heavy prime young and maiden ewes, £'2 io £2 ss; heavy, £1 15s to £1 19s; medium. £1 10s to £1 14s Od; light, £1 7s to £1 9s Od; just (tillable, 18s to £1 Os; other, Os Od to 17s. Lambs.—Average numbers were penned and sold readily, values being very firm. Extra heavy lambs. £1 18s to S:2: heavy prime. £1 15s to £1 1 /s Od; medium. £1 'l2s to £1 1-ls Od; light, £l* 9s to £1 lis; smaller, £1 5s to £1 8s 9d : unfinished, best, £1 2s to £1 Is Od; others, 15s to £1 Is; spring lambs rerlised £T 18s to £2 Bs. Calves.—There was an average yarding and competition was very keen for extra heavy prime runners and values improved, but values for all other classes were easier. Extra heavy prime runners, .£l4 to £l7 15s; others. £7 to £l3 10s; heavy vealers. £9 to £ll ss; medium, £7 to £8 10s; light, £5 10s to £0 10s; small, £1 5s to £5 ; unfinished and bucket, fed, £1 to £2 10s; bobby and rough 10s to £l. Pigs.—A full entry of fat and store pigs was penned. Bacon prices were firm and stores were cheaper owing to a larsrer yarding. Choppers, £2 10s to £7 ss; heavy prime haconers, £5 10s to £5 10s; medium, £4 15s to £5 Ss; light. £4 to £1 12s: heavy porkers. £3 Ss to £3 17s; medium, £3 to £3 7s : stores, £2 5s to £3 8s; slips, £ 1 10s to £2 -Is. weaners, £1 to £1 IOs; small sows in pig, to £5 ss. ADDINGTON MARKET (P.A.) CHRISTCFTURCH, Wednesday A smaller yarding of fat sheep at Addington today caused a return to the abnormal prices recorded at the sale two weeks ago and in some cases, especially ewes, that level was exceeded. The increased yarding of fat cattle brought prices back by 40s a head. Best beef made 04s per 1001b; good. 55s to 58s; medium, 51 s to 545; secondary cow beef, to 375. Store sheep sold readily at better prices, and all other sections substantially maintained recent levels. AUSTRALIAN CONVERSIONS Tho Commonwealth 3 per cent conversion loan of £14,055,000 to he offered in London completes the Australian conversion programme of £108,000,000 this year. Since 1032 the total amount of Australian maturing loans dealt with in London is £392,000,000, representing an interest saving of £5,573,000 a year. FROZEN PRODUCTS PAYMENT Frozen Products, Ltd., Wellington, will recommend a dividend of a £1 share, free of security taxes, at the annual meeting on October 10. Dividend in 1014 was Is a share. MASONITE EARNINGS Masonito Corporation (Australia), Ltd., shows a record net profit of £38,718 for the year ended Juno 30, compared with £37,438 for 1013-11, the previous highest. Gross profit increased by £38,140, against which distribution, now undertaken by the company itself, cost £20,000 more, and taxation provision was £17,100 higher at £50,400. Ordinary dividend is again 8 per cent, requiring £20,251, and £BOOO ifi added to reserve. Deferred capital receives £10.409 of the, profit, and dividend is £10,500 (84 per cent), against £0950 last year. Additional plant should be working in a year's time and should double the capacity..