COMMERCIAL NEWS

Wanganui Chronicle, Volume LXXXIII, Issue 19830, 3 May 1927, Page 9

COMMERCIAL NEWS

TRADE AND INDUSTRY NOTES FROM ABROAD Unemployment in Germany. At the middle of February the number of Government-assisted unemployed in Germany had been reducerl to 1,761,000 from 1,826,000 at the end of January. Peruvian Cotton Crops. Peruvian cotton planters estimate that the coming crop will equal that of last season in both quality and volume despite the fact that tho acreage has been restricted on account of abnormally low prices and a glutted world market. Iceland’s Water Power. The extensive water power of Iceland has recently attracted the attention of foreign capital ,and plans have been made and preliminary work done with a view toward the industrial exploitation of some of the most important watcraflls of the island. Nova Scotia Electric Plant. A new plant, known as the Sandy Lake project, in connection with the St Market’s Bay hydro development, is to be started this spring in Nova Scotia. The estimated cost of this project is 669,000 dollars. The demand in the City of Halifax for eletcric lighting and power has greatly increased. Ireland Has More Telephones. The number of telephones in use in the Irish Free State has increased to 24,239 in 1926, according to official statistics. Single 'wire in use for subscribers is now 70,450 miles, indicating that a real rural telephone system is in the process of formation. Many outlying districts have come within the area of telephone service in the past two years. Mexico Needs More Wheat. A decree permits the entry of wheat into Mexico without payment of duty until 60,000 tons shall have been imported. When this quantity has been imported, the duty assessed under item 9/bis of the Mexican tariff (3 centavos per gross kilo plus surtax of 12 per cent, of duty) will again be effective. India to Reduce Duties.

The Government of India has announced another favourable budget. In view of the satisfactory fiscal situation the Government proposes to reduce the duty on automobiles and tyres to 20 and 15 per cent., respectively; abolish the export duty on hides and tea; but increases the duty on unmanufactured tobacco to 14 rupees per pound. British Industrial Production.

British industrial production gained momentum during February, as indicated by the rapid fall in unemployment. The 1,196,000 persons entered on the unemployment registers on February 21 represented a reduction of 74,000 from the previous week and an increase of only 72,000 above the number 12 months earlier. As 100,000 fewer miners are now employed than was the case a year ago, the present unemployment figure is an especially significant indication that the industrial position is considerably improved. Large Takings of Shellac.

Unusually large imports of shellac into the United Kingdom were recorded during 1926, while the consumption, as indicated by the retained imports, continued the growth of the past few years. Imports, 116,791 hundredweight (hundredweight equal to 112 pounds), are understood to have been the largest since 1910, with the exception of 1919 and 1923. The bulk, of course, as in former years, came from British India. Re-exports were somewhat less than in the previous year, bringing the retained imports to over 85,000 hundredweight, or 10,000 more than in 1925.

New Turkish Railway Lines. Two railway lines will be constructed in Turkey within the next five years by the Swedish company, Nydqviat & Holm, in co-operation with a Danish firm, according to the Swedish press. The first line, from Eregli (Heraclca) to a point 18 kilometers east of Angora, is to be 580 kilometres long and will be ready in five years. The other line is to be approximately 500 kilometers long and will run from Diarbkir via Malatia and Marash to a point east of Adana on the Bagdad railway. The second line will be ready six months after the first has been opened. Mica Output of India. India produces 65 to 70 per cent, of the world’s supply of sheet mica, obtained from mines located principally in the Hazeribagh district in the Province of Bihar and Orissa, about 250 miles from Calcutta, which is the principal port of shipment. The mica district in Bihar is a strip of country about 12 miles wide and 60 to 70 miles long. The town of Kodarma is the mining centre of this district. The other mica centre in India is located in the Nellorc district of the Madras Presidency, but the mica mined in this area amounts to less than one-third of the amount mined in the Hazeribagh district. London’s Coal Trade The Port of London Authority has reduced the Port Rates payable on coal imported into London by 33 1-3 per cent. Between 8,000,000 and 8,500,000 tons of coal are now brought to London from the various, ports in the Kingdom, of which rather more than 1,000,000 tons go away in bunkers of vessels trading in the Port or are transhipped. Except during abnormal periods such as the coal dispute last year, no foreign coal is imported into London. American Hosiery Exports American hosiery was purchased and worn in 109 countries of the world in 1926, according to the Textile Division of the Department of Commerce. Increased purchases during the year were made by Cuba, Australia, and South Africa, all of which rank among the leading markets for American hosiery. British Shipping The Board of Trade shipping tonnage figures for the nine months ended December, 1926, show that, whilst the total tonnage of vessels which arrived at and departed from ports in the United Kingdom with cargoes and in ballast decreased by 14.4 per cent., as compared with the same period during 1925, there was an increase of 5 per cent in respect of the Port of London.