COMMERCE AND FINANCE

Otago Daily Times, Issue 24492, 28 December 1940, Page 2

COMMERCE AND FINANCE

OVERSEAS EXCHANGE SUMMARY OF TRANSACTIONS INITIAL YEAR OF CONTROL A summary of the transactions of the New Zealand overseas exchange control is published in the latest Statistical Summary of the Reserve Bank of New Zealand. The summary, which is the first to be published, covers the period from December 7, 1938, to December 31, 1939. It is not a statement of the trade balance of the Dominion, but merely a summary of the transactions through the control. The figures (in £N.Z.'OOO) are as follows : Receipts In respect of exports 65,907 Interest, dividends, legacies, immigrants' funds. and private debts in New Zealand .. .. 1,888 Trade debts due in New Zealand, including overseas earnings of New Zealand firms 1,902 Commissions, royalties, and insurance 76 Donations and allowances .. .. 385 Travellers' expenses 374 Local body loans raised overseas 322 'Government loan raised overseas 2,500 Unclassified 1,646 75,000 Payments In respect of imports .... .. 48,860 Interest, dividends, legacies, immigrants' funds, and private debts due overseas 3,607 Trade debts due overseas, including earnings in New Zealand of overseas firms .. .. '.. .. 1,547 Government debt and other services, excluding imports .. .. 10,446 Local body debt services ".'. .. 1,756 Commissions, royalties, and insurance .. .. .. ~ 283 Donations and allowances .. '... 577 Film hire and entertainments .. 288 Travellers' expenses 1,184 Unclassified ..■'.. .. .. .. .. .. 132 68,680. * Sterling loan from trading banks, since repaid., CANTERBURY MARKETS NEW SEASON'S CROPS AWAITED (Per United d ress Association) CHRISTCHURCH, Dec. 27. The grain and produce markets are practically at a standstill. Apart from the holiday inactivity, merchants are reluctant to undertake any business until, the new season's crops are offered and the market has had time to settle down. The new year will open with stocks of most lines in small compass, and with very little of good quality available, Algerian and Dun oats are an exception, as there is some holdover of both of these, though it is not large. The new season's oats should be arriving soon, as well as some small seeds. If the present weather keeps up, the earlier harvested wheat should begin to make its appearance about the middle of next month. The price for this harvest is the same as for last at 5s 9d a bushel, f.0.b., for March Tuscan. MINING NEWS ARGO GOLD DREDGE The return of the Argo Gold Dredging Company, Ltd., for the period ended December 24, 1940, was 670 z for 171 hours from 18,000 yards. . ~.,', BIG RIVER MINES""' ~ The'gold returns of the ,Big River Gold' Mines, Ltd., November 22 to December 24,' 1940, were:—Battery department: 126 tons of ore crushed for 1620 z 17dwt of melted gold. Cyanide department: 200 tons of sands treated for 30oz 12dwt of bullion. The total estimated value was £1255. In addition 1 ton lOcwt of concentrates were saved, valued at £SO. In estimating the values, gold has been taken at £8 an ounce.

FRUIT AND VEGETABLES STRAWBERRIES ABOUT FINISHED SHIPMENT OF ORANGES Business was brisk in the. fruit marts up to Tuesday, but the cold rain which fell on that day affected sales to some extent. Cherries and tomatoes showed a considerable drop on the prices which had been ruling, but choice quality peaches and apricots continued to realise satisfactory values. When the marts reopened yesterday business was somewhat erratic. Best quality tomatoes, for instance, were on offer at considerably lower values than those realised earlier in the week. ' " • ']■ ".".'. ■• Strawberries are about-'finished for- tha season. High prices have Tilled in the marts. .'■'■■• A fair sized shipment of Australian Valencia oranges reached the market during the week. The quality of the fruit was particularly good. Bananas are now in short supply in the marts.. A further shipment is expected early in the New Year. A small shipment of Californian lemons came to hand during the week. It is now some 12 months since a supply of Californian lemons has come to the local market, and the fruit was quickly taken up by retailers. The shipment was sold at 55s 6d per case. Red and black currants have a weaker demand. Housewives are not anxious to buy currants for jam making during the holiday season. Choice quality green peas have continued to bring good prices. New potatoes were in short supply on Christmas Eve, and prices showed a temporary sharp advance. The market was back to normal yesterday. Cauliflowers have a good demand, but cabbages and lettuces are in over-supply. Outside-grown cucumbers are arriving from Whangarei. .' ' New season's carrots have a ready sale. Other vegetables are in good supply, with low prices ruling. ' "..'.' The marts will hold a sale On New Year's Eve. •-. •■ ■ ~ - Prices ; Wholesale prices are as follow*: :.Jr ; \ : Australian oranges; 25s' to 28s •;84.';p«c case, according to Count. .".',"V:, ; . ■., Hothouse Tomatoes. —Christchurch, • 10d< to Is 2d; local, to Is 3d; small, 8d to; Bd. Samoan bananas, 23s to 25s per: case. Cherries.—Choice, lOd to Is 4d; others* 6d to Bd. ; ■• Cherry plums, to 4d per lb. „. J' Peaches.—Crates, 4d to 6d per lb; cases, 3s to ss. ~ ■ - Apricots, 3d to 6d per. lb. '. V.. ,: Raspberries, to 10s 6d per bucket.., ;..i"; Red and black currants, 4d to 5d per lb. •••:/" '

Strawberries.—Choice, 2s to 2s 7d per pottle; other quality, to. Is 86V Lemons.—New Zealand, 14s to 22s per case, according to count. Gooseberries, ljd to 2d per lb. Rhubarb, 2d to. 2Jd per lb. Cauliflowers, to 4s per case of 10 to 12.v'Cabbages; Is to 2s per case of. 16. „ ".'.■;;; Broad beans, to Id per lb.,C ; ....„.....,„:. Radishes, to Is per dozen bunches.,------Spring onions, to 9d per dozen bunches'.'" Cucumbers, 15s to 20s per case of 30. Green peas, 2d to 3Jd per lb. , • New potatoes, Id to 2d per lb? ;\ Lettuce.—Choice, to Is per dozen. ■.-> ■'■ Carrots.—New season's, to 2s, 6d yp«r dozen-bunches. *■# White turnips, to Is 4d per dozen; ":.' , l Beetroot, Is to Is 6d perdozen punches'., MISCELLANEOUS PRODUCE ■ '- . Wholesale prices are as follows: : Chaff .—Good, bright oaten .sheaf, £6 lOt per ton. Fowl wheat, 6s per bushel, according to quality and quantity; supplies becoming short. i .-,.... Dairy Butter.—Milled bulk. Is per lb; separator, • Is per lb'. Bacon, Is 3d per lb. '■ f Hams, Is 2Jd per lb; boneless,, Js 4dl Onions.—Canterbury, 22s to 24s per bag of 951 b. --••'.■■ '.' Eggs.—Heavy, Is 7d per dozen; standard, Is 6d; medium, Is 3d. These prices are fixed under the Government scheme. OVERSEAS BUSINESS IN DANGER ■'■•'• Vv>'.' Because the Henry Jones Co-operative Company, Ltd., was largely dependent oh. overseas business, the trading year "Jlist begun was fraught with danger,-Bald.Mr A. W; .Palfreyman, chairman, at, the .annual meeting in Melbourne. _ Mr Palfreyman said that the. shipping position. was becoming increasingly worse. If there: was no improvement next year J the company would warn growers earjyr so that the expense.of working orchards could be saved, and intensive pruning to lighten crops could be undertaken. Except in the case of raspberries, the plants would be worked to capacity. BREWERS' (#RK^ Difficulties for the Australian beer trader may follow a continued rise in the world price of cork. Supplies are short.; arid;:' because of the higher price, imports.will be reduced in ratio to save foreign exchange funds. Cork products, particularly prepared cork, which is used in metal bottle seals—have risen by between--60 per cent, and 75 per cent, in the; world's markets. Huge orders for the Australian Army have accentuated the' difficulty that faces the industry. Many breweries are at present bottling beer'for the A.I.F. overseas. In some quarters the quantity needed for the troops is estimated at some millions of bottles. Some Australian breweries are rationing bottled beer. 'Many retailers have been informed '■■ that, because'of heavy army orders, they cannot be supplied with the quantity of bottled beer they have ordered.