STEEL SUPPLIES

Otago Daily Times, Issue 23858, 12 July 1939, Page 14

STEEL SUPPLIES

IMPORTATION FROM AUSTRALIA FINANCIAL GUARANTEES DEMANDED (Special ro Daily Times) .AUCKLAND, July 11. „ Some supplies of steel under permits granted in the first licensing period will arrive in the Dominion from Australia this month, but the Broken Hill Proprietary is persisting in its refusal to accept or fulfil orders for the second period unless guarantees are given by the Reserve Bank that payment will be permitted. Such guarantees have not been forthcoming, nor has the Government replied to representations on the subject made by distributors in. the Dominion. ' '

It is believed in the trade that the only New Zealand orders for the second period which the Broken Hill Proprietary : is fulfilling have ’ been lodged by the Government for defence purposes. The Government has fair stocks of several classes of building steel in several centres;. . '

In Auckland shortages of pig iron are claimed to be developing in the industry and several manufacturers have made representations on the subject this week to the Government, asking for financial permits that will permit of importation. Thete \<ras,i.- fortunately, a ‘distribution of supplies early this month._ at' several Irnaih ports;, ip 'the Dominion or the'-situation., it is §aid, wofildihaveproduced grave difficulties iri some, industries. - - \