EXPORTS AND IMPORTS FOR MAY.

Taranaki Daily News, 16 July 1921, Page 8

EXPORTS AND IMPORTS FOR MAY.

There is very little change in the j financial position since our last report, 1 and the supply of money generally is si.;' hort (states the Trade Review). Th- balance of trade for May showed cn . 'light improvement, exports bein. vs?d at €3.942,591. and imports £3.747,039. or a light credit balance of £195.552. For the five months of the current year exports were £23,186,956 and imports £24,743,241, leaving ar. aJ' , . st' trading balance of £1,556,285. However, we think the turning point has been reached, as May exports show reduction, which may be expected tn continue, and exports for June and July at any rate should show good increases, as There is a plentiful supply of -hipping available The wool mark?’ shows some improvement and the prospects for frozen meat seem a little .brighter. It will, however, take som? ronths of -improved trading conditions .. restore 4he financial position to more like normal, and while we are disposing of accumulated stocks of produce, it will be some three months or so before next season’s produce starts to go forward.

> Debenture Issues seem to be the order ; of the day at present, and quite a number of these have been put on the mar- ; ket recently. offering 7 per cent, to 8 per cent. Dies? are largely for farmers* .co-operative institutions who require the • money to pay off deposits and finance ■ the farmers but importing houses are | also requiring more capital to finance I their’ heavy stocks. Apparently these | flotations are mee ting with a fair mea I sure o f success, owing to the attractive > interest rates. The banks have raised their deposit rates for three and six months deposits, but otherwise the general artes for money remain un- • altered.