TRADE REVIEW.

Star (Christchurch), Volume LXVI, Issue 20485, 11 December 1934, Page 9

TRADE REVIEW.

Australia’s Latest Figures. EXPORTS HIGHER. LESS WOOL PRODUCED; BUT MORE GOLD. United Press Assn.—By Electric Telegraph—Copyright. (Received December 11, 10 a.m.) CANBERRA. This Day. Australian exports for 1933-34 are valued at £99,310,000 compared with £96,857,000 for the previous year. Imports are valued at £60,985,000 compared with £58.014,000. Imports from Britain rose by £2,000,000 to £25,700.000, while imports from the Netherlands and the East Indies rose by £960,000 to £3,890.000 (all figures in sterling). Australian butter production in 1933-34 totalled 452.000.0001 b compared with 420,000,0001 b in the previous year. Greasy wool produced in the year ended June 30. 1934, totalled 976,000,000 lb compared with 1,062,000,0001 b in the previous year Gold production during the first nine months of 1934 totalled 655.125 fine ounces compared with 830,2380zs for the whole of 1933. Production in 1928 was 457,6690z5. GROCERS’ BOYCOTT. Australian Goods May Suffer. (Received December 11, 10.30 a.m.) LONDON, December 10. The Manchester “ Dispatch ” says that, failing a last-minute Australian concession, it is expected that 5000 retail grocers immediately will boycott Australian imports. Lancashire maintains that Australia is procrastinating and that her duties j constitute a breach of the Ottawa agreement. GREAT EXPECTATIONS. Germany Trading by Barter. United Press Assn.—By Electric Telegraph—Copyright. BERLIN. December 10. Businessmen and bankers believe that Australia will conclude, at an early date, a barter agreement similar to that made with South Africa with regard to wool. “ I knew, once we got one Government to do business on those lines, the rest of the world would follow,” said a banker. SHIPPING Plea for Reciprocity in Trade. LONDON, November 2. Lord Essendon, the British shipping magnate, in a letter issued to-day in connection with the shipment to New Zealand of between 400 and 500 British light cars—more than the total shown at the recent annual motor show at Olympia—makes a powerful plea for consideration of the joint interests of New Zealand primary producers and of the British shipping industry in any action which may be taken by the Imperial Government in regard to quantitative restriction. The letter is addressed to the members of Parliament for the divisions in which the cars have been manufactured and was sent in reply to a message congratulating him, as chairman of the Shaw, Savill and Albion Company, on the despatch to New Zealand by the R.M.S. Mataroa of the ‘‘largest single shipment of motor vehicles that had ever left Britain.” “ We earnestly hope.” saief the M.P.’s, “ that the British public—especially the families of those engaged in the motor industry—will reciprocate by buying New' Zealand butter, meat and cheese in preference to that of foreign countries.” Three Points of View. “It is indeed satisfactory.” said Lord Essendon, “ that British enterprise has been successful in securing such a large proportion of the New Zealand market formerlv dominated in a large measure by foreign motor manufacturers. “ Our company, as well as the other lines trading with New Zealand, has recently placed thr~'v modern ca r go vessels in the New Zealand trade. Unless. however, the produeers of meat, dairy produce and wool from the Dominion of New Zealand receive a reasonab l e price for their products, it cannot be expected that the exports from this countrv will materially- j increase. Tt is well kno i that the export trade has been negligible for some vears. with the result that the j shipowners have had to rely upon homeward earnings to enable them to make ends meet. “ New Zealand to-dav is the premier supplier of meat and dairy produce to the United Kingdom, but. unfortunately the market price for the latter commodity- has for the last few years been nothing short of disastrous to the producer. “ The exports from New Zealand to the United Kingdom for 1933-34 have been 7 37.000 tons of butter an 1 103 000 tons of cheese: pod as the entire exports from the Dominion are carried in British vessels, it is to Vie honed that the Board of Trade w.'l see that the most British of our possessions across the seas will receive soecial and favourable consideration in the matter of quotas.” Lord Essendon is chairman of Furness, Withy and Co., vice-president of the Council of the Federation of British Industries, and on the board of I thirty-three other companies—mainly shipping, ship-building. development, banking and insurance.

Australia at October 31 last had over 1.0C0.000 bales of wool in store in excess of the holding at the same date | last year. This accumulation of wool unsold is generally attributed to disinclination of growers to sell at current market prices.