CANADA'S TRADE

Evening Post, Volume CX, Issue 137, 8 December 1930, Page 14

CANADA'S TRADE

HEAVY FALLING OFF

AS IN OTHER COUNTRIES

|. "Evening Post," Sth December. New Zealand is not alone in its trade troubles, and depressed prices for oxports. The Bank of Montreal reports that the foreign trade of Canada again decreased in value in September. In the last six months ended 30tli September, the total external commerce of .958,064,000 dollars was less by 286,815,000 dollars than in the like period in 1929, ■■ the percentage decline being 23 per cent. The effect of price decline is shown in ■the case of unmanufactured copper, of •which the value of the export in Septem,ber was 525,000 dollars less than in 1929, ' although the quantity shipped out was j 27,251cwt greater. Wheat exports were 24,145,000 dollars, against 10,598,000 dollars last year. Commodity car loadings continue to show a decrease as compared with last j year save in coke loadings. . . | THE BUTTER TREATY. The abrogation on 12th October of the 'Australian treaty extension to New Zea- j land, and the imposition of a duty of 8 cents per pound on New Zealand butter, ■ came when butter stocks in Canada at 37,255,000 pounds were larger than ever I before. , Cheese exports hold up fairly ■well, but prices of dairy products remain so low as to give meagre profit to farmers. Bank clearings in September were smaller than last year in nearly all reporting points, except Halifax, where clearings were larger during September, and also showed an increase in the first two weeks of October. Construction or building contracts in September are placed at 32,407,000 dollars, being less than in the eorrespond- ':' ing period last year, but still a large volume of business. While the amount i of building under way makes unfavourable comparison with the two preceding years, it is larger than in 1927 and ; earlier periods, and the extent of engineering projects in hand has never [•fbeen exceeded. The recession in building , lias been'chiefly in residential structures. WEALTH FROM MINES. Mining operations continue to be prosecuted on a considerable scale, despite , the low prices of baser metals. Ontario \ mines produced in September gold to the , value of 2,925,589 dollars, an increase of 204,000 dollars over August, and of 223,000 dollars over September, 1929. In the opinion of some close observers '. of the mineral output of the world, Can- \ ada is expected to rank next to South :' Africa—the biggest gold producer to-day. :ln the elapsed nine months ended 30th September, crude bullion from Ontario mines had a value of 26,213,324 dollars, ■or 1,486,626 dollars more than in the corresponding period last year. Consolidated Mining and Smelting Company's ; operations are well maintained, the output ; of lead, zinc, copper, and gold being larger ■than in 1929. Low prices and keeii competition still . (characterise the newsprint industry, out- : put of which in September was 6553 tons less than in August, and in the elapsed nine months 95,786 tons less than in the corresponding period last year. Customs and Excise duties decreased 6,067,000 dollars in September, as com- ' pared with the same month last year, \ and 36*540,000 dollars in the. elapsed six ; months of the current fiscal year,' while :'Excise: "wartaxes have yielded 10,547,000' 'tlollars less in'the half-year than in 1929, ; chiefly by reason of reduction in sales tax. On the other hand, income tax has produced 2,359,700 more this year.