STEEL PRODUCTS

Timaru Herald, Volume CXLVI, Issue 21380, 24 June 1939, Page 6

STEEL PRODUCTS

Australian Supplies Stopped CREDITS DEMANDED By Telegraph—Press Association WELLINGTON, June 23. The position that has arisen as a result of the decision of certain Australian manufacturers of fencing materials and steel products not to export further goods to New Zealand until the necessary credits have been established in Sydney was considered by a meeting of the New Zealand Hardware Guild to-day. Delegates were present from all parts of the Dominion. There were also in attendance representatives of Australian manufacturers, who chiefly arrived by the Awatea this morning. In intimating that the meeting would not be open to the press. Mr W. R. Heney (Christchurch), who is chairman, said the main resaons for holding the meeting was to endeavour to find some means of easing the position that had arisen. Arrangements had been made to discuss the position with members of the Cabinet. It is understood that since Australia became the principal source of supplj of fencing materials and steel products, particularly building steel, to New Zealand, the stocks hald in this country have been kept very much smaller than was the case when the principal market was the United Kingdom. For this reason the embargo placed on exports to New Zealand by the Australian manufacturers, if continued, will have an almost immediate effect on building activities and on the available supply of fencing wire and wire netting. The Government, which is believed to be easily the largest importer of building steel, is subject to the embargo like other importers. Hardware importers whose opinions were sought this morning expressed the view that Government importations should be decreased so that all available funds could be rationed equitably ’ -■‘ween private importers and the State Departments.