COMMERCIAL

Hokitika Guardian, 22 December 1932, Page 5

COMMERCIAL

U.S. TRADE BALANCE 35,000,000 dollar credit. (United Press Association- -By Electric Te legraph—Copyright.) WASHINGTON, Dec. 20. A favourable trade balance in November of thirty-five million dollars was announced to-day by the United States Commerce Department, in a statement which placed exports at 139 million dollars, and imports at 104 millions. Each is lower than the previous month. November wag. the first month since July that the trade figures had shown a decrease. For the eleven months of the present year there has been a favourable trade balance of 256,180,000 dollars, with 1,481,379,000 exports, and 1,225,199,000 imports. Ex--1 ports, however, were 758,841,000 Jess than for the same period l in the previous year and imports 711,663,000 less. AUSTRALIAN WOOL TRADE. LARGE PURCHASES BY JAPAN.

SYDNEY, December 21. Some lending business men who returned to Sydney to-day from the East, declared that Japan is now quo of the

largest buyers of Australian wool They estimated that Japan’s purchases would! scon reach one million bales per year. The business men stated they wqre convinced that Japan’s 'influence would soon lead to prosperity in Manchuria, which would presently be needing Australian wool an the same proportion as Japan. AUSTRALIA’S LOAN STOCKS. NEW YORK, December 21. It is learned that the Australian Government purchased one hundred and three thousand dollars worth of Commonwealth stocks in the month of November for retiring purposes. The prices were between sixty and seventy. The market was then particularly low, due to the debt discussions, thus resulting in considerable savings to the Au/sfraliaix G overnment.

BRITISH INDUSTRIES FAIR

RUGBY, December 20.

The British Industries Fair is to be opened in London and in Birmingham on February 20th. It will surpass ad its predecessors in size and variety of manufactured products, as London Olympia and the White City, are required for exhibits, which will take 490,000 square feet compared 'to 384,000 square feet nt last fail*. The demand' for accommodation in Birmingham, where heavy industries will bo largely represented, has also increased. It is expected there will be a large increase in the number of visitors from oversea.

SOVIET DAIRY PRODUCE. MOSCOW, December 20.

The system of contract collecting dairy produce from farms has been supplanted by new method, under which the producers pay taxes in milk, butteir and cheese. There is already an outcry against the injustice of a fixed scale of values. For example, the farmer, is credited with only fournence per litre for milk, the market value of which is ten shillings.