WELLINGTON NEWS

Hokitika Guardian, 20 August 1925, Page 4

WELLINGTON NEWS

BANKRUPTCIES. (Special to “Guardian”.) WELLINGTON, An-. 17. The milliter ot insolvencies in tin* Dominion continues to Ire largo and Inst; month the record for the past - rears was reached. The total number of bankruptcies last month was 81. as compared with fid in .Inly of last year. 7 in -J ill v 1923. and 71 in duly 1922. We must |'i) back to August 1D22 t<> Cm,| a lugger number, for in that mouth there were 81) insolvencies, and in -May 1922 there were SO. For the ..even months oi tins year there v.ele ~, ~H dOI bankruptcics as < (impal ed with 390 in the seven months of last rear, 39“ in the corresponding term of 1923.""and 100 in 1921. It would appear from the groat, number o! insolvencies last month that there was a special clean up of all those who were hevond hope. Examining Use detail, it' is '.seen that 23 farmers be- , ante insolvent last month, that is more than 25 per cent, ot the total, am! labourers accounted for 11- I la' I aukriiptcities lliat tire being registerini now hit nearly nil t rarca-blo to tlio slump of 1920-21. at all events that can be said of the farmer bankrupts. Coin” back to the year 1921. in •laituarv";t that year there were II bankrupt ices, in February 11. in March 10. and in Anril 17. In -May there was a jump to 33. aod from then onwards the Ofiiical Assignees have been kept particuliti'lv busy, tor there b..s scarcely been tiny month since when the bankruptcies numbered le-s tnan |(l. The lieu res given are only approximate but near enough tor all practical purposes, and do not include private assignments, and there ale a.so ihe vnl’iiitarv liquidations ol companies to be included. It is a <iue.st.mn whether nursing that is otteu allowe:l tottering businesses is worth wink*. |Jut both creditors and debtors cling to hopes and possibilities, and while in a number of eases the help given >" justified. but in the majority ol cases it is morelv throwing good money attei had. The'end of the excessive bankruptcies is not yet in sight, and d the next season proves to be one el low pi roes for produce, the number ol banknmteies will tend to increase instead of decrease, and it is possible that sheepfarmors will be caught m tae next year. DAIRY I’BODUCE. With the < lose of last month the statistical vetir for dairy produce exports closed, and the shipments during the 12 months totalled 2.598.(1(11 boxes. ..-inal to (M.9(i(U tons e impaled with •i |ul 813 boxes or 52.1)20) tons in toe previous year and 2.375.81-1 boxes or fv.kolHi ttms in |{)±2-'2;L . M ; -‘ I x,!s *- season set up a record for hotter exports. and as a matter >1 fail acvnrding to the returns of British imports pm the first five moot Its ot the y -ar. Vcw Zealand meupii'd first place its a soonlier to the British market the Ctimmoinvealth coining next, ami it the ('omnmnwetilih and not the ArgciiSiberia that is mil most Id'11, ididile eompoiitor. Owing to favour,,l.le climatic conditions the. output from Australia was very large. and what is of greater importance. the quality showed considerable impi'incinctil. so mueli so that at times Australian butter of best- grades sold on parity with New /calami, the dairyfarmers having been very lortuiiatc. Inwards the end of April stocks of butler l-.pmui to accumulate, ami reached 809.C00 boxes. It was thought then that stocks would increase as European supplies came in, because colonial consignees were being instructed to lathi fur a t ertain pri< e. The forecasts would have proved correct were it not for the fact that a spell of very dry weather was experienced in Ktirnpe. curtailing product ion. ami lorring Ine trade to draw mini; accumulated stocks, which 1 legal) to shrink, and prices ascended as stocks vanished. A perilous position was thus through the 'avaries of.the climate converted into » strong statistical position. It was certainly fortunate, but it is the kind ol good luck that cannot bo expected to recur. This season the Dairy Control Baird will be more in evidente. and a good part of its policy, except absolute control, will be in operation, and it will be interesting to watch the results, Perhaps it would he het'estiy to say that, the market will depend upon the purchasing [Haver of the .consumers. and the volume of supplies more than on anything the Dairy Control Bran d may or may not do. ’I lie exports of cheese for the past statistical year totalled 081.002 crates as against 082.701 crates in the previous season. ami 870.(all crates in tin- season 192223. The cheese market too has benefit - ed by the contraction in supplies, and at the moment forward sales are being me.de at excellent prices. Next year, if absolute control becomes operative, this class of business will cease, and it is obvious Iba! I '•«:-» • wholesalers who must make certain of a (oiitiumty ol K uplies will be forced to turn to llnol her sources of supply. However, a t . ;o .„| deal of water will Ibm under hnnduu IS i'id go before absolute control becomes ell eel! ve. and there is every probability that a new Government with ;i new ret of political ideals may I.k* In power. A Labour (Jovei'fiuieut will probably authorise absolute eontro! under sie-l) a condition, as sa.v. il bill ter touches 181 Is- in London. the workers in dairy factories should get current arbitration wages, ami lor every advance of 5s in price the wages should advance relatively. The justification for such a condition would he that workers contribute to the industry I v helping to maintain quality.