EXTERNAL TRADE

Wairarapa Times-Age, 11 May 1938, Page 3

EXTERNAL TRADE

EXPORT BALANCE SHOWS HEAVY DECLINE OVER TEN MILLION RISE IN IMPORTS The principal feature of the overseas trade returns for the 12 months ended March 31, 1938, is a considerable reduction in the visible balance of exports over imports. While exports for the financial year reached the high level of £65,008.000, an increase of £4,773,000 over those for the previous 12 months, imports moved up to £58,065,000. an increase of £10,444,000 leaving an excess of exports of only £6,943,000, compared with £12,614,000 for the preceding year. According to the returns issued yesterday by the Customs Department, exports during March were valued at £7,366,000 a figure that is less than those shown for March, 1937, and March, 1936. Imports for the month at £4,907,000 were £301,000 in excess of those for March, 1937, and £1,869,000 above those for March, 1936. For the first quarter of this year ex-

ports were valued at £20,575,000, compared with £22,280,000 for the corresponding period of last year, a decrease of £1,705.000. The difference is largely due to the much lower prices ruling this year for wool. Imports for the three months were valued at £14,887,000, an increase of £1,904,000 over those for the first quarter of last year and £5,265.000 in excess of those for the corresponding quarter of 1936.

For the twelve months ended March 31 exports were valued at £65,008,000,

an increase of £4,773,000 over those for 1936-37, and £15,332,000 in excess of the exports for 1935-36. Imports for the twelve months were valued at £58,065,000, an increase cf £10,444,000 over those for 1936-37 and £20,625,000 more than the imports for 1935-36. The visible balance of exports over imports for the latest 12 months is thus reduced to £6.943.000, as against £12,614,000 for the 12 months ended March 31, 1937.

Superior Guard’s feat in winning two races in succession at Avondale recalls that one of the best performances of the kind was that of the Chief Ruler mare Awaken. She was returned a winner on the first day of the Egmont summer meeting in 1932, and on the concluding day, after winning the Normandy Handicap, seven furlongs, as favourite, she successfully carried a 71b penalty in the following race, the Waimate Handicap, six furlongs. She was piloted on the first occasion by K. Voitre and on the second by W. J. Broughton.

Iddo won the hurdles at Dannevirke in very easy fashion, but his susceptibility to improvement was noticed in striking fashion in the Hongahoe Hurdles at Hawera. His rider, A. Jenkins, was content to keep him in the middle of the field for half of the journey, but then he went forward very quickly and was assured of victory no less than three furlongs from home. It was a striking performance and entitles Iddo to rank as a “find” among jumpers.

The Egmont Steeplechase attracted only five starters, a disappointing fact for the opening of the cross-country season. It is, however, rather early in the season, and, no doubt, quite a number of cross-country horses are not yet ready to race. Clarion Call, who won from end to end, ran second to Cottingham in the Grand National Hurdles and second to Journet in the Sydenham Hurdles. Last season he won the Century Hurdles and the Wanganui Steeples, and was third to John Charles 9.1 and Lord Vai 10.3 when carrying 11.3 in the Trentham Hurdles. Clarion Call has more pace than the average cross-country horse, and is bred to stay, as he was got by Hunting Song from Saxon Saint, by Hallowmas —Formless, by Multiform — Dreamer.

Trench Fight, after spelling for a few months, has been in light exercise lately. He is sound and in good health, ready to resume active work at any time, in' preparation for another campaign, which may start about Winter Cup time.