MEAT QUOTAS.

Star (Christchurch), Volume LXVI, Issue 20510, 11 January 1935, Page 9

MEAT QUOTAS.

Export of Porkers Now Restricted. GOVERNMENT’S FIRST STEP. (Special to the “ Star.”) WELLINGTON, January 10. The Agriculture (Emergency Powers> Act being not yet operative, o**ing to delay in the appointment of the Executive Commission, a practical step in meeting the Imperial Government s quota requirements regarding meat imports into Britain is being taken in issuing to-night an Order-in-Council under the Customs Act, prohibiting, except with the consent of the Minister of Agriculture, acting on the Meat Board s recommendation, the exportation of any porker carcases in any vessel scheduled to arrive in Britain on or before March 31 next. It also is announced that to comply with the British Government’s requirements permits in the meantime will be issued only in respect of carcases of porkers which have been slaughtered on or before December 31. Inquiries show that there is sufficient ol this class of meat already in cool store tc fill the quota allocation under the short term arrangement till March. Dong Term Arrangement.

Additional slaughterings will ultimately secure an overseas outlet, but their weight will be included in the quota allocated under the long term arrangement which will be completed in London shortly. There has been no recent progress in this respect, as British Ministers have not returned from their Christmas holidays. The Government has, however, received information from Mr David Jones, who is advising the High Commissioner on the subject of meat . restrictions, that he hopes to be able to leave London by the end of January, an indication that the long term arrangement should be complete by that date. The Executive Commission. “Nothing has been done, but the matter will be considered shortly by Cabinet,” replied the Prime Minister to a question whether a published report in the north regarding the personnel of the Executive Commission of Agriculture is correct. Mr Forbes declined to give hints, though the report has mentioned two individuals whose appointment appears highly probable, these being Mr David Jones, chairman of the Meat Board, and Mr George Duncan, of Ilawera, a member of the Dairy Commission and winner of the gold medal for the best thesis on the dairy industry.

HIGH GOLD PRICE. Effect on Commerce. “In the search for influences which may assist the recovery of international trade the higher price of gold is a factor which has not received the attention that it deserves,” says a review published by J. Henry Schroder and Company. “An important result of the high price that gold fetches in the depreciated currencies of America and the sterling bloc is the increased buying power which it puts into the hands of certain countries that are in serious need and are certain to exercise this power by increasing their purchases in the world market. “So far the increase in world production, which rose from 20,721,9510 z in 1930 to 25,369,8790 zin 1933, has been largely absorbed by speculative purchases and by hoarding on the part of central banks and private individuals. It seems inevitable, however, that in course of time the increase in the gold backing for credit will have the same effect on the present generation as the. discovrrv and development of the Rand goldfield had in the years between 1897 and 1913—a period of active and prosperous enterprise diversified by a crisis in America and terminated only by the war. As a stimulus to this revival of international activity the increased buying power conferred on the gold-producing countries must have a powerful influence.” RESERVE BANK. Weekly Statement. Per Press Association. WELLINGTON, January 10. The “Gazette” issued to-night contains a statement of the assets and liabilities of the Reserve Bank of New Zealand as at the close of business on January 7.

Proportion of reserve (reserve less liabilities in currencies other than New Zealand currency), 98.24 per cent, tlncrease. ‘Decrease. WHOLESALE PRICES. British Official Wireless. RUGBY. January 9. The average of wholesale prices last year was greater by 3.2 per cent than in 1933. the index numbers being 87.2 and S 4-5 respectively, 1930 equalling 100. ' . The rise in 1934 followed declines of 0.7 per cent in 1933, 2.4 per cent in 1932 and 12.8 per cent in 1931. TRANSFER BOOKS CLOSING. Per Press Association. WELLINGTON. January 10. The Commercial Banking Company of Sydney, Ltd., has advised the Stock Exchange Association that “ transfer books and register of members of the Bank will be closed from January 22 to 29, 1935, both days inclusive. Transfers for registration in the. Sydney register prior to such closing should be. lodged before 3 p.m. on Thursday. January 17.’*

Liabilities. £ s d £ Paid-up capital 500,000 0 0 — General reserve fund 1.000.000 0 0 — Bank notes . . 9,752.389 0 0 •19.890 Demand liabilities— (a) State 7,052.758 17 2 t359,671 (b) Banks 8,575,503 IS 3 *496.193 to) Other 4,903 9 2 •995 Other liabilities 4S.247 10 11 tS.329 £26.933,802 15 6 Assets. Reserve— (a) Gold . . 3,001,731 0 0 — (b) Sterling exchange .. 21.93S.273 13 5-1153.747 Subsidiary coin 94,170 12 4 f471 Investments 1,879.207 18 1 t',097 Other assets 20,419 11 8 *2,900 £26,933,802 15 6