COMMERCIAL ITEMS

Hokitika Guardian, 23 July 1925, Page 1

COMMERCIAL ITEMS

IRON INDUSTRY. In order that the Onakak Iron Company may he put in a better position to meet foreign competition in respect to the supply of iron ore the Iron and Steel Industries .Amendment Bill, which was brought down by Go-vernor-General’s message in the House of Representatives last • week authorises an increase in the bounty payable Vo the company from 12s to 30s per ton of pig iron.

The Minister of Mines (the Hon G. •J. Anderson) stated that the company had expended 2110,000 up to the present. hut in order that it might compete against the cheap labour by which iron ore was produced in India and other counrties, it was desirable that live company should receive sonic assistance bv wav of extended bounty.

’The Leader of the Opposition (Mr T. M. Wilford) asked whether an estimate could be given of the probable amount of the bounty on the output for tlie next, twelvemonths; also would the amount of the subsidy he rest respective T

'The Minister replied that lie would give further information on the second reading regarding the Bill hut the sum of money laid down in the original Act would not he exceeded. "Ihe Bill would enable the bounty to lie made payable to the company earlier than what was proposed before, lie would say that the payment would be retrospective. although that did not matter very much ns the production of iron ore had not been very great up to the present time. 'The object of the Bill was to assist the country.

The Bill provides that bounties under the Act are not to he payable alter March 31, 1031. AN APPLE COMBINE.

It is claimed on behalf of the Chicago pork packers that they make use of every part ol* a hog hut the squeal. American apple men now appear to he doing one better. They are to deal with the American apple crop, or a large portion ol it, in such a way. it is said, that “ there ain’t going to he no core.”

Word has been received by the Minister for Markets and Migration that a merger has taken place lietween two great apple corporations in America, and it is claimed for the new company which, known as the Standard Apple Products, Incorporated, has a capital of one and a quarter million dollars (about £250,000) that it. will he the largest of its kind in the world. The company’s headquarters are to he in Rochester, New A ork, and it will handle the apple from the time it leaves the tree through various manufacturing processes, packing and shipping, delivering evaporated apples, apple pomace, cider and cider vinegar, as well as packed fresh apples throughout the eastern States and to various European countries. “Every known branch of the industry is to be covered,” says the report. “ and every hit of the raw material is to he utilised.” SUPPLY OF PRUNES. Some anxiety is being lelt in Australia of the prospective heavy production of prunes. Local consumption based on three years’ figures is 738 tons, whereas production is already double that quantity in New South Wales alone. New Zealand is looked to for relief, this country's imports (1323) being 035 tons, of which 1)18 tons were purchased I rout I nited States. II tons from South Africa and 1 ton each from Trance ami Australia. Great Britain’s imports ucre 19.->9O tons, of which 11,07(1 tons were American. and 397 tons were Australian.

ADDINGTON STOCK MARKET. BEEF FIRM. (By Telegraph.—Special to Cuardlaa) (TimSTC’linUTI, This (lay. Messrs H. Matson and Co., report as folio ns regarding tlaeir stock sals at Addington yards yesterday: Store Sheep.—A yarding about the same as last week and again a monopoly of hoggets. The market all round was a very linn one and quite a large audience of buyers was present. I lie entry included a line ol ewes lrom Gisborne which, sold well. Rest Rom--I,ev crossbred G and >’• tooth ewes made lo |-s (id. medium ditto 33s 2d to .‘IPs |ud, sound and failing ditto’ to 35s (id. aged and mlerior down to 12.1 s .Id, best I’m - ward wethers to lids. three-quarter bred S.M • hoggets to 38s (id. ditto wether hoggets 25s 3d to Ms fid, small and inferior IS* to 21s lid. Store Cattle.—A very small yarding and as usual, mostly old and nondescript lots. One pen of .‘I and I year bullocks made IT. but. no quotable lots were offering. Fat Rigs.—A good entry ol porkers came forward, hut only a small yardiicg of baeoners. All classes showed an advance on late rates. \ allies: Light, porkers 50s to (ids. heavy fids to 78s, average fid to Rid : light haconers C! 10s to Co os. heavy Co Ids to .Co los, extra to fti 1 Is, average 7Jd to sul ; choppers Cl to Cl I Ss. Store Rigs.—Quite a good entry and the demand was keen for all clashes which sold hotter than late rates. Wen tiers (small) los to 225. good sorts ops till \o dlls, small stores dlls to d,s. medium 10s to Ills, large to -‘ls.

Reef.—A smaller yarding than last woelc. about lot! head, including 100 from the North Island. The quality generally was good. The market opened very firm and continued so throughout, flood cows and heilers showed a decided improvement, this being 20s to lifts above last sa'e. Steers were linn at last week’s rates. Only for the North I-land cattle the mai-l-let would have heen very dear, (home steers made Clti to CIO. extra to C2O 2s (id. medium Cld 10- to Clo 10s. others L‘B 5s to Cld. prime heifers Lift to Cl2 los, extra to Clo 12s, others C 7 to CO los. prime cows CIO to Cld. extra to Cl 1 Ids (id, medium L’7 os to Cfi 10s. lighter CO to IT. others down to Co.

Mutton.—A medium yarding and a larger proportion of wethers. The quality generally was much better and the market opened firm at last week s rates and improved as it progressed, but towards the end eased con-idor-ably. Despite the opinions of several pessimists we think the market to-day was every bit as good as last week, notwithstanding the famine prices recorded early in the sale last "Wednesday. Prime wethers made 48s to 525, extra to 555, medium 52s 6d to 47s Gd, lighter down to 37s Gd. prime ewes 39s to 425, extra to 52s Id. medium 34s to 37s (id. lighter 30s to 33s (id. otherdown to 70s.