CANADIAN NEWSPRINT

Otago Daily Times, Issue 26200, 10 July 1946, Page 6

CANADIAN NEWSPRINT

INCREASED PRICE TO AMERICA EFFECT OF DOLLAR ADJUSTMENT NEW YORK, July 8. The raising of the Canadian dollar to parity with the United States dollar will cause a higher price for newsprint, said Mr Cranston Williams, general manager ol' the Newpaper Publishers’ Association. Mr Williams added that he did not expect a runaway price, but other factors such as increased costs for la bout wood, and freight, meant higher prices for newsprint, which could be expected immediately. Mr R. M. Fowler, president of the Canadian Newsprint Mills, said removal of the American exchange premium meant the loss of six or seven dollars a ton on newsprint shipped to the United States. “American users expected to receive 3,000.000 tons of newsprint from Canada this year.” he said.

A Toronto message reports that stocks tumbled all along the line under the shock of the currency adjustment that cuts 10 per cent, off the returns of exported commodities. There were general declines of 10 to 20 per cent, and selling was heavy. Newsprint and gold issues were the heaviest losers.