CONTINENTAL MARKETS.

Press, Volume LX, Issue 18218, 31 October 1924, Page 10

CONTINENTAL MARKETS.

NEW ZEALAND'S OPPORTUNITIES. A TOUR THROUGH CENTRAL EUROPE. i (PEOJt OCX OWS CO2KB?POXDE.VX.) LONDON. September 24. Mr J. -S. Jessep (Vice-Chairman of the New Zealand Meat Producers' Board; has just tviarned from a very interesting trip through Central Europe. He .-pent six week* travelling via Franco. Switzerland, f. Austria and Cwcho-Slovakia. returning by way or Cvrmaiiv Naturally, one ot his motives lor liiU .journey was to gain a iirst-hand knowledge or trade prospects j on tlir- Continent, and he has returned to Encdiind ,-tronzly of the opinion that New Zealand should politically pay mo>e at-tent-ion to the developmentot trade with t-be Continent 01 Europe. ; Si nee the re-adjustment ot the boundaries alter the war," said Mr .Jessep. in an interview 1 had with him on his return. ;; ! hare !>een greatly interested in Central Europe, and par- | ticularlv in the development of the j portions of Austria which are likely j to absorb Ne«v Zealand products. The ; partition of the Austrian Empire Jeft ; -Vn.si.riii prouer wit!) a comparatively , small territory, and with the huge city j of Vienna and an extraordinarily ex-j pensive Civil Service to maintain. The richest part of the Austrian Empire unquestionably lies in the north, and is now the country of Czeelio-Slovakia. This country, with a population of some fourteen million, had developed at a rapid rate. The capital city. Prague, with a Dopr.lation of 600,000, is grow"-; ing. and there are signs of develop- j ment on all sides." j It. was harvest time when Mr Jessep motored hundreds of miles throughout Czeeho-Slovakin-. The richness of the iiuid was evidenced by the crops. Tremendous crop l * of wheat, oats, and rye oorn were in stook. Enormous areas were in sugar beet, rod clover, lucerne, and various other minor crops peculiar to the country. At regular interval" large sugar factories were established. '•'Czecho-iSlovakia,'" Mr.. Jessep went on to say, "is exceedingly rich in "mineral resources and in lunilx;r. Forestry there, as indeed everywhere throughout 'Switzerland, 'Austria, and Germany also, is wonderfully developed"We are told that the Central European people are too poor ever to be large customers for our products, but no country can lony remain poor that has so rich a soil and a stable Government. The Government of Czechoslovakia hay kept its finance steady in the face of the collapse of the German currency on the one side and Austrian on the other. '•'l am quite certain that in the courfie of a few years this country in particular as well as Poland, Austria., : and, of course, Germany, will to an ever-increasing extent provide market'? for New Zealand exports. Meat supplies are filtering through the various towns, while to the borders of Russia regular supplies of refrigerated produce are brought from Rotterdam to Poland. The amount absorbed is a.s yet not large, when taken in detail, but the increasing shipments of frozen meat which come monthly from South America to the Continent indicate the extent to which this trade is growing. R is not likely that New Zealand meat will for the tint© heing find an extensive market on the Continent, but every ton of Argentine or Australian meat absorbed by the Continent means so much less meat to enter into competition with New Zealand on the British market. These countries, however, use now large quantities of our wool which they buy mainly through Germany and Belgium. Indirectly, w receive a"n increasing quantity of their special manufactures. It is surelv to tire advantage of both parties to deal direct. What tlie Dominion Must Face. j "While keeping in mind the develop; ment, in the best way. of trade within the Empire, it is folly to shut our eyes to the development of any possible trade on the Continent of Europe. British capital is being used to an j enormous extent to rehabilitate old | and establish new industres. British firms are interested to a very great extent in the development of the dairy trade in many countries outside the British Empire, and although Great Britain will always remain our principal market, New Zealand cannot afford to lose the opportunity of developing t-iade with any part of the world." Mr .Tessep also travelled fairly extensively through Germany, and everything seems to indicate, he says, that there is going to be a trade boom in that country. They are ready for it, and the only thing lacking is the facilities which credit will give. "Loans i to Germany;,", he maintained, "will undoubtedly give an enormous impetus to trade. AY hat concerns New Zealand is to what extent is this going to increase Germany's power to absorb our products. It is no nee our discussing the advisability or otherwise of assisting Germany to get on her feet again, as it is quite evident it is going to be done, and what we have to look to is the effect it will have on us." "If Great Britain sees fit to trade freely and opens the whole of her markets without let or hindrance .to Ger- ; many, Denmark, Russia, and all Euro- i pean countries which enter into direct competition with New Zealand, then surely New Zealand should lose no opportunity of develouing what trade itcan do directly with those countries." UNION BANK'S NEW, SHARES. snares oi & eacn, which are to he at a premium of £<i each, and in tlie n"^ i-s, o. winch 25s represents capital and 3fis ™«m. Tbe , p rem ium of a £ 6 d £> houlhf SV '1 , h °* k te w*ho W' !" Wou ." d ™? much less iudgin--I>J. the IS sue in May. 19->2. when flftpr£ mmm was enly £4 r-er share. In anUcfr^ v. j ?.* a ? d Just about a week ago thev changed hands a-„ £l4 17s ed. Towards the weekend ■they dropped to £l4 14a, and vesterday were quoted at £li :2s 6d; it would seem to oc profitable to sell the ol.d shares and buy the new ones at a slight premium/ This issue with tho high premium has rather de.ad»ned the market tor bank shares (says the "Dominion").