’CHANGE ON HOLIDAY

Sun (Auckland), Volume I, Issue 159, 26 September 1927, Page 2

’CHANGE ON HOLIDAY

-VrO calls were made on the Stock Exchange to-day. Brokers celebrated Dominion Day, and were closed to business. mittedlv coming about in the manufacturing conditions, spinners complain that yarns are being sold at prices not covering the cost of tops by pence a pound. say that cloth is too dear to find a ready market for. Recognising these facts, it must be admitted that recent weeks’ business in tops, yarns and piece goods has shown some expansion. More machinery is working. Progress is tardy, but it is fairly soundly based, despite the unsatisfactory financial position in which many firms admittedly are. AUSTRALIAN SULTANAS The demand for Australian sultanas has quietened down somewhat, after exceptionally heavy sales in the first fortnight in September, but fair sales are being made of low grades. The cause for this .satisfactory state of affairs is the partial failure of the Smyrna crop, which was severely damaged first by drought, and later by hea.vy rains during the drying period. Consequently, though the crop will probably by 45,000 tons, only about 10 per cent, will be of good quality, compared with 65 per cent, in 1926. most of the remaining 90 per cent, being badly rain-damaged. PROPOSED FRUIT CONTROL In order to give the Australian frjitgrowers its opinion regarding the proposed control, the National Federation of Fruit Trades Associations held a special meeting, and after several hours’ careful consideration unanimously adopted the following resolution: “The federation is of the opinion that for highly perishable products such as apples and pears, control would be very detrimental to ihe fruitgrowers’ interests. The federation has spared no efforts to secure a reduction of freights and has met with some material success, but the offers of the bank to guarantee payment of freight on this side have been declined- The freight was 3s 6d a case last season, compared with an average of 2s 9d in 1914. The federation hopes in due time to secure a further reduction, also payment at the port of discharge. Advertising originally started by the federation, and successfully carried on, was hampered in 1927 by lack of support from the Commonwealth Government, although it previously promised that it would be given in 1926. “Cold storage research is being practically and thoroughly instituted by the Empire Marketing Board, in conjunction with Cambridge. Financial assistance has always been provided in the past. The matter* cannot be so humanly dealt with by Government boards. Diversion is impracticable for mail and passenger steamers, and is only possible occasionally with cargo steamers, when fruit is the major part of the cargo. Apples cannot influence the destination unless huge shipments are made, which is undesirable, and the federation does not recommend them. Control and f.o.b. sales are incompatible, therefore the latter would be entirely prevented, greatly to the growers’ disadvantage. The federation urges every grower to vote at the ballot.’’—A. and N.Z.