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FINANCE AND TRADE

j The consumption of wine in England, I according to the ‘‘Wine Trade Review," i has failon off, owing partly to the lees I prcfltable condition of business generally, j and partly to the change of fashion, to a j certain extent, from wine to other liquors. I The total quantity of wine imported into | the United Kingdom from all countries • in iOOh was 12,372,263 gallons, against j 11,710,583 gallons in 1003. and 36,130,414. ! gallons in 1002. A falling-off was shown j for nearly all countries, but the imports i from Australia iu 1304 amounted to bid,l73 gallons, against 572,666 gallons in 160 J, or an increase of 76,50* gallons. A dim .nation appears, however, as compared with 1302, when the imports of Australian wine amounted to 360,637 gallons. Tno “wine Trade Review" com...cats on these figures;—"it is a fact upon which those who are specially interested have reason to congratulate themselves that in a'year in which the consumption of, I w.nc generally was on a greatly reduced; scale the imports from Australia showed: an appreciable increase. With few exceptions, lho figure* advanced from month to month, and in the end the gain on the .mports was 70,5(37 gallons. The statistics of impoits do not necessarily constitute a reliable guide to the state of trade for tho time being, but in this instance the conclusion to which they would seem to point is confirmed by the rejiorfcs from the principal shipping house*. There is ! no doubt that the trade .n both red and i white wines Is being well maintained, and, with a return of general prosperity to tho country, we shall probably see a further and considerable expansion of the figures. Twelve months ago. iu review.ng the busincs of 1503 we found it necessary to call attention to tho fact that certain growers had been In this country, and, after doing business with the regular importers, had endeavoured to sell to the cxiscoraers of the latter. We pointed out at the time that the growers could not expect to receive the support of the leading houses if this kind of thing were continued, and heed seems to have been given to the warning, lor lately we have hoard no complaint© of the practice to which objection was taken."

Mr Geo. F. Broomiiali’s "Corn Trad© Nows” has the following extracts from tho offic.al Indian crop report;—‘‘The sowings in the Punjab and the Frontier Province aro considerably below the record area of last year, as the season has been dry, but they are up to the average, and further sowings depend on the early arrival of th© winter rains as do tho prospects of the standing crop on their not being too long deferred. Tho very largo area sown last year in th© United Provinces, which was nearly a million acres greater than in any previous year, is estimated to have increased by seven per cent., and the crop which is l.keiy to have benefited from recent falls of ram is in excellent condition. In the Central and Berar sowings were generally successful, and germination good. The area is estimated to be five per cent, larger than last year’s area of 2,922,000 acres in the Central Prov.nces, and 23 per cent, short of tho abnormally large area of 452,600 acres sown last year in Berar. Tho present condition of the crop is satisfactory in most of tho important wheat-growing districts, but ra'.n would greatly improve prospects everywhere. In Bombay the information is - incomplete, as.sowings wore in progress. The total reported area for the whole Presidency, including Sind, # is 1,557,000 acres, against 1,811,000 acres at # the same period of last year and the decennial average of 1,600,000 acres. In the Punjab the area under wheat at the end is estimated at 7,013,700 acres, which is slightly above the average, though 10 per cent, below the record' area finally returned ‘last year. In the North-West Frontier Province th© to.tal area reported at the end of November is 851,100 acres, as against 994,100 acres finally returned last year,”

’lt appears that "Lloyd’s/’ the great marine insurance centre in London, has been irate at some of th© statements in the London press as to their losses in connection with their shipments to Vladivcetock. The ‘’Standard/’ which feared “difficulties” in connection with those losses, later had to announce that such difficulties would not result. With respect.to the Vladivostock voyages, '‘Fairplay,” of February 9th stated that for.a considerable time the rate stood at be-

tween 25 and 35 guineas per cent., and until recently the ‘’arrivals*’ were continuous Of course, underwriters were perfectly well aware that great risk attached to such a scale of premiums, and, while rapidly augmenting their fund, did not lose sight of cont.ngcncies—which they became every day betier prepared to meet. And now they put up their rates still higher, reinsure at a moderate loss, negotiate with shipowners, and m other ways conserve their interests and make the best of the situation. Thev do not give way to panic.

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Permanent link to this item

https://paperspast.natlib.govt.nz/newspapers/NZTIM19050408.2.104

Bibliographic details

New Zealand Times, Volume LXXVII, Issue 5558, 8 April 1905, Page 16

Word Count
839

FINANCE AND TRADE New Zealand Times, Volume LXXVII, Issue 5558, 8 April 1905, Page 16

FINANCE AND TRADE New Zealand Times, Volume LXXVII, Issue 5558, 8 April 1905, Page 16