WELLINGTON NEWS

Hokitika Guardian, 13 June 1927, Page 3

WELLINGTON NEWS

THE TRADE RETURNS

(Special to “ Guardian.”)

WELLINGTON, June 11. I be export and import returns for the Dominion for the four months to the end ol April are very encouraging, because they show that the steps taken to adjust the trade balance arc becoming eliective. The exoprts for the four months were valued at L'2!.7.3:1.78(1 as compared with C2I. I 18.036. ;lM increase ing effective. The exports lor the four mouths totalled Cl-LSI l.7(i(i as compared with £17.542,869. j, decrease of £2.728.122. The balance of trade for the lour months is in our favour for the exports exceed the imports by C 0,9,17.020. while lor the corresponding lour months of last year the excess ol exports was only C.M.S7A.IGS. so that at the close ol the lour months the country was better off by CJ.OJT.So’-' Ilian at the end of April last year. There is no doubt Hint trade is recovering, but it will lake time for increase in purchasing power to exercise its lull efleet on business conditions. According to the latest bulletin ol the Canterbury Chamber of Commerce: I he overseas trade balance, which vs the main cause ol change in business conditions was at its worst, in the-win-ter ol 192(5. and is now well on the way to I’ecovery. Purchasing power appears to he at its lowest point in the first half of 1927. Rut general conditions appear likely to reach their lowest phase during the coming winter.’* Turning to the principal items of exj port it is seen that the quantity of butter exported in the four months showed an increase over the corresponding term of last year, the figures being 595,375cw1. against 408.85 J.-wt.. and the value LI, 268. 600 against LJ.Bl9.lofi. The cheese exports on the other hand were smaller both in quantity and value, the quantity being 050,657ewt against f!Sl.o72ewt and the value L2,.T(i!>,7>">() against £2.99-5.241. 1 There is a tremendous decline in the exports of frozen beef, the shipments for the four months being 48,(1 Kiewt against H3.B76ewt, a decrease of 35,230cwt, and the value was £07.031 against LI 12,193, a drop of L 14.352. The frozen beef trade is in a parlous condition. and there does not appear to he much chatiec of its recovering. There was a slight increase in the quantity of land) exported, the figures being 737,292 cwt against 700,057 cwt, and the values £2,015,870 against £2,005.655. Tho exports of mutton amounted to 352,770 cwt against 324.8(>8ewt, an increase of 27,!)11cwt, while the value was £720,798. against L78(i,790. Thus, although we exported 27,911ewt more mutton the price obtained was less by L 00,172. The fact of the matter appears to bo that the meat trade of tho world is being dominated at the present time l>v the abundance of (hilled and frozen beef. Lamb being a luxury trade is not affected to the same extent. Dried milk is another export product that appears to have fallen on had times for. in ; spite of an increase in the exports of ' about 71.0001 b. the value declined by 1 approximately £28,300. Wool shows a I splendid recovery, for although thp 1 exports for the four months wore 804 I bales less, the gain in value was £530.- ) .516. Increases were shown in cattle ' hides, opossum skins, rabbit skins, -* wool led sheepskins and sheep skins •’ without wool The demand for rabbit c skins in recent years lias been very ~ pronounced, for the furriers seem to. - have acquired the art of converting bunny’s skin into imitations of rich furs for which there is a ready .sale. In the four months the rabbit skins exported numbered 2,140,114 or 6S.6‘'B j fewer than in the four months of 1926. vet the monetary result was £7182 letter. the values being £56.000 against s £7B.SIS. There was a decline in the s quantity and value of apples exportt ed. the quantity being 11.949.5201 b. d against 12.931,6621 b. and the value s £148.613 against £163,233. The production of hemp appears to be on the increase for the exports for the four months totalled 633 S tons ns against 5944 tons, and the value £190,494 against £159.829. The value of tho tow exported was £24,821 against £22,023.. .] There was a falling off in the export of tallow, the quantity shipped in the four months being 5739 tons against 7855 tons, and tlic value consequently was lower, the figures l>eing £179.31* y against £283.981. There was also a a shrinkage in the exports of kauri gum. s only 1548 tons being exported in the - four months against 1864 tons and the - value was £105,664 against £131.396. a The quantity of gold shipped in the ; t four (months was 39.9,3-5 oz. valued at II £159.589. against 37,995 oz. valued at e £156,687. There was also an increase L in the quantity of silver exported, the l * out-turn being 160.298 oz. against 141,11 195 oz. hut owing to the fall in prices the value wa-s £15,973 against £16,931.

The export of timber is a declining business for the quantity of sawn timber exported was 10,945,692 superficial feet against 12,994,333 .superficial feet, and the value £125,519, against £155.176.