FINANCE AND TRADE.

New Zealand Mail, Issue 1686, 22 June 1904, Page 69 (Supplement)

FINANCE AND TRADE.

The “Statist” of April 23rd had the following;—The Russian Government has authorised the creation of a further 20,000,001) roubles of notes, making a total increase in the note issue since the war began of 70,000,000 roubles. The notes thus created have been added -to the reserve of the Bank of Russia, and will be available for. supplying the needs of the Treasury, and postponing a reduction in the.amount of gold held by the nank. In the week ended April 14th the reduction in the Treasury deposits with the bant, amounted, to 13,000,000 roubles, making a total withdrawal since February 14th of 83,000,000 ' roubles. The rouble is worth about 2s Id.

The amount of capital invested in German colonies is estimated officially at <£15,000,000, of which £4,037,500 is at Kiaochau, and £2,962,050 in South-west Africa. The Pacific has only absorbed £483,550. But Germany must do more than that if her colonial expansion is to be other than very slow. Probably the United Kingdom has invested a good £1.200,000,000 in her colonial Empire, onethird of that amount in Australasia alone, and there is little progress without the investment of capital. ,

Cable advices from British Guiana state that unusual interest is being created in sugar circles in the discovery of a new process for extracting sugar from cane, which gives promise of revolutionising the sugar industry in tlie West Indies. In tlie event of extensive trials; about to be made confirming the initial experiments, it should be possible by this new process to obtain from 25 to 80 ner cent, more sugar from a given weight of cane than is at present the case.

British manufacturers and distributors seem to be resorting to extraordinary methods for selling their goods. Coupon and stamp trailing se,em to have lost their liolcl on wandering buyers, wlio decline to deal regularly with any one distributor. A certain British soap fir n have recently matte an offer to the following effect: —£25 will be paid at death in case of a fatal accident of any kin 1 happening to any purchaser of a 2£d bar of soap regularly every consecutive week for not less than. 13 weeks immediately preceding the accident. Added to this, retailers are promised -i-d profit on every bar of soap they sell. The assured, however, are entirely in the hands of the company, who may or may not produce, their receipts or vouchers showing purchases. Two typical conditions are on the “soap purchaser's card,” which; read thus: —The entries oii this card must correspond with the books, of tbe company, auci such books are to be considered the only sufficient proof of the consecutive purchases of the soap. The neglect of an agent or servant of the company to call upon the assured in reference to the purchase of soap will not be admitted as an excuse for non-purchase. The value of spirits -of wine for industrial purposes is strongly emphasised by the “Russian Industrial World/’ by which its increased manufacture is recommended. it remarks that spirits of wine constitutes a cheap and good source of warmth, light and force. Land-owners and peasants will find, by its means, a new for their potato harvest; the numerous private distilleries will obtain abundant work; and if the cost, of primary material and labour do not prove .too great, spirits of wine will be brought into general use, both for lighting and for motive power. In these two respects, spirits of wine will compete sufficiently with mineral oil to counterbalance the influence of the “petroleum kings.” Manufacturers of machinery would do well to construct cheap motors, capable of being worked by spirits of winew Russian distillers are advised to model their methods on those of the Germans, who have recently made immense strides ui this industry.

The Calcutta jute market is at the present time exceptionally high, and the position there is somewhat dangerous from an importer’s point of view, as a large quantity of jute is held by speculators, who are able to dominate the market. -Should any cut be made in prime cost either by mills or speculative holders, a serious loss will'-fall upon Sydney and Melbourne buyers who'have already fa chi the market and operated on a 5s Id c.i.f.e. basis. This price represents a reduction of only a penny and three-six-teenths on open rates, which is admittedly a very lean margin in a market, which is proverbial for its instability. Prevailing concensus of opinion favours the belief that the markets at producing and export centres will harden as Australian demand sets in, more especially if the harvest prospects are encouraging. Tinen, again, the recent decision of the Comptroller of Customs with regard to standard sacks will render it necessary for importers to bring in one class of jute to escape payment of duty. In past years a little latitude in this connection has been X)f service in allowing competition with lower-quality goods in competing for the season's supply. August shipments give promise of a good deal of activity, and a set -ipf circumstances and developments to which this market has so far been a comparative stranger, notwithstanding the kaleidoscopic nature of the jute market in the past. Oil March 31st last there were uvPr construction in the United Kingdom 988,664 tons of merchant shipping, and 377,115 tons of warships. The merchant shipping under construction showed an increase of 90,000 tons, as compared v.th close of December, so that the shipbuilding trade is now reviving. But the quantity of war vessels was ominous. In 1903 there passed through the Hu- z Canal 3761 vessels, with an aggregate gross tonnage of 16,615,309. Of that total, 10,215,252 tons, or 61£ per cent., belonged to the United Kingdom, while 2,464),493 tons were German, 1,186,844 French, 770,576 Dutch, and all other countries were represented by smaller amounts. In 1902 the British proportion was 59£- pf r cent., and in 1901 only 57 per cent., so that the Mother Country appears to have increased her lead well in the Canal trade reeontiy.