AUSTRALIAN EMBARGO

Wairarapa Times-Age, 23 June 1939, Page 6

AUSTRALIAN EMBARGO

ON STEEL AND FENCING MATERIAL PENDING ESTABLISHMENT OF CREDITS. POSITION BEING DISCUSSED IN WELLINGTON. (By Telegraph—Press Association.) WELLINGTON, This Day. The position that has arisen as a result of the decision of certain Australian manufacturers of fencing materials and steel products not to export further goods to New Zealand until the necessary credits have been established in Sydney is being considered by a meeting of the New Zealand Hardware Guild in Wellington today. Delegates are present from all parts of the Dominion. There is also in attendance a representative of the Australian manufacturers, who arrived by the Awatea this morning. In intimating that the meeting would not be open to the Press, Mr W. R. Heney, of Christchurch, who if chairman, said the main reason for holding the meeting was to endeavour to find some means of easing the position that had arisen. Arrangements had been made to discuss the position with members of 'Cabinet this afternoon.

It is understood that since Australia became the principal source of supply of fencing materials and steel products, particularly building steel, to New Zealand, stocks held in this country have been kept very much smaller than was the case when the principal market was the United Kingdom, five months away. For this reason the embargo placed on exports to New Zealand by the Australian manufacturers, if it is continued, will have an almost immediate effect on building activities and on the available supply of fencing wire and wire netting. The Government, which is believed to be easily the largest importer of building steel, is subject to the embargo like other importers. Hardware importers whose opinions were sought this morning expressed the view that Government importations should be decreased, so that all available funds could be rationed equitably between private importers and State Departments.