WELLINGTON NEWS

Hokitika Guardian, 16 April 1929, Page 3

WELLINGTON NEWS

IMPORTS COMPARED

(Special Correspondent.)

WELLINGTON, April 13

Hie imports into New Zealand are always of interst and perhaps they are just now of greater interest than usual because of the interminable discussion on unemployment, and the cure suggested by some of buying New Zealand goods and so provide work for more people. The details of the imports into the country during January and February are now available and a comparison of the salient figures with those for the corresponding term of last year is not without interest. TVimports for the two months were valued at £7,997,634 as compared with £7,348,258 for the two months of 1928, an increase of £549,376. If the increase for the remaining months of the year is at the same rate then the imports of 1929 will exceed those of 1928 by about three millions sterling and such an expansion would scarcely be warranted. An increase was due this year because of the expansion of purchasing power which was revealed in the last hanking returns, but the community is more careful in expenditure and retail trade, except in some isolated lines is on the dull side.

Reverting to details tlie imports of soft goods for the two months totalled £1,710,028, as compared with £1,677.909, and showing the moderate increase of £32,119, or about 2 per cent. Apparel and silk piece goods besides a few other lines show increases, hut there are many decreases. Boots and shoes have fallen from £158,786 to £135,751. The imports of hardware or metal goods amounted to £1.028,966 as against £1,006,764, and the increase in this section is also about 2 per cent. The imports of dairy machinery amounted to £27,869 against £20,227, agricultural machinery £28,241 against £21,785, hut there was a decrease in electrical machinery,‘the figures being £2/3,110 against £308,384. Food-stuffs show a big shrinkage, the figures being £486.900 against £694.229, a decrease rif £207,329 or about 30 per cent. Sugar shows a big decline from £251,081 last year to £184,069 thiyear, and the grain imports totalled £22,858 against £151.362. Beverages at £299,612 are less by £15,409 or 5 per cent, due principally to the drop in tea, the figures for which are £155,967 against £190,190. The import of whisky amounted to £78,096 against £74,000. The total of the miscellaneous section is £2,923.165 against £2.235,580, and the .increase shown by this section is the highest and is due almost entirely to the increased imports of motor vehicles. In the first two months of this year we imported 5.319 motor vehicles which as compared with 1,791 last year and 3.681 in 1927, and the values were £785,850, against £321,247 and £542.120 in 1928 and 1927 respectively. It is to be hoped that there will not be over importation in this line as there was two or three years ago. Admittedly, the motor car has ceased to be a luxury and is now a necessity wit' l many, still not a 'few people to whom it is a luxury are acquiring these machines and not many of them are financially circumstanced to risk such a liixm-v. Tt is doubtful whether the abolition of the cash on delivery system will make much difference. The Government has acted rightly in refusin' 1 ' to allow 'be Postal Department to be made a debt-collecting agency for foreign firms, but that 'fact will not stor goods coming to the Dominion by par eels post. The British and other firms interested in this trade will change from “cash tin .delviery ” to “cash with order ” and will probably do as large a business as ever. CONTROL OF COMBINES.

The whole tendency of modern times is towards amalgamation, and the formation in every sphere of a few big businesses in place of many small ones while spreading the ownership over a wide area by encouraging the small investor to take up shares. In the United Kingdom 'for a considerable time past it has been the practice of promo tors of companies to issue shares at Is 2s, ss. and 10s denominations, and tlm small investor thus gets his chance The combines of to-day are very different in scope from those of 20 years agoIn the United States the object W a trust or combine was to control the market, raise prices and exploit tieconsumer, and no doubt a little of that still goes on. To prevent the trust'operating to the detriment of the pub lie. anti-trust laws were passed by Congress, which makes it an offence to do anything in restraint of trade and restricting the oil output or the copper output is obviously against trade.

There has been a sharp drop in copper quotations on the London marke' because it is feared that the Washing ton authorities may take action with regard to copper as with oil and so cur tail the price-fixing powers of lare r American producers of the metal. America is the principal copper pro ducor of the world, but recently im mouse copper fields have been disco\ ered in Northern Rhodesia, and who 1 these are developed the Empire will fw less beholden to America for supplies.