DRY WEATHER

Evening Post, Volume CXIX, Issue 31, 6 February 1935, Page 11

DRY WEATHER

IN NORTHERN HEMISPHERE

BENEFIT TO NEW ZEALAND

The dry conditions that had recently prevailed in the Northern Hemisphere had resulted in the setting in of a heavy demand for the products of the Southern -Hemisphere, and New Zealand had shared very largely in that demand, stated Mr. J. T. Martin at last night's meeting of the council of the Wellington Chamber of Commerce. Mr. Martin remarked ' that it was very difficult to deal with Germany, but business men in London could sell New Zealand products. In other places, however, it was difficult to obItain from Germany the necessary letters of credit, but British merchants with their traditional commercial cour[age had stepped .in, and bought the ! produce of this country. After the ■ landing of such "products in England I the English merchants were able to imake arrangements- for transporting I the produce to Germany. The result 'was that sales had been made of New Zealand rye grass, crested dogstail, • chewings fescue, and clover. This business had practically7 cleaned up the New Zealand stocks. Other markets had also been supplied. London had not yet lost its enterprise, courage, and determination in dealing with the world's markets, said Mi;. Martin. Recently there had been an improvement in the price of dairy produce. 'A few weeks ago New Zealand butter was 9Jd; today the market price was IOJd, land butter just ..arriving would: fetch ll£d. The. dry conditions, in the Northern Hemisphere had, as he had indi--1 cated, affected the position, and the English market immediately responded to any outside conditions. The members of the chamber would readily appreciate the improvement in trade conditions.

Mr. J. Pearce Luke: Which the economists have brought about. .(Laughter.) • ■■'~■■

Mr. Martin remarked.that there was no industry which put its money so quickly into, circulation- as the dairy industry.