C—l 2

6

Continent of Europe it would appear that the maximum demand is not likely to be much more than 6,000 tons annually. Particulars as to the export and country to which sent are given below for the past twelve years : —

Particulars of Kauri-gum exported from New Zealand from 1912 to 31st March, 1923, inclusive.

The Result op the Year's Trading. The business transacted during the year shows a profit of £696 4s. 9d., after allowing for interest accrued on debentures for the year amounting to £3,275. The greater part of this interest is payable as a result of the Department holding over stocks purchased during the late slump for a more favourable market. As has been stated in my reports before, it has invariably been found a paying proposition to hold gum during a period of weak demand. This has been the experience of producers on the gumfields and dealers in New Zealand, and it has paid the Department to do so in the past. During the winter months, and to some extent during the remainder of the year, the production is greatly dependent on the weather conditions. For two years we have had exceptionally dry winters, but that of 1923 at this date (10th July) promises to be a very wet one, and the production during the winter will be much under that of recent years. Most of the accumulations of gum have been worked off, and, no matter what the demand may be, the output of gum for the immediate future, cannot be unduly large. Our stocks are of good gradings, ready for export, and I look forward to the future with every confidence. During the year price-cutting is considered to have been indulged in by the Auckland exporters to a much greater extent than for a long time past. Although a good tonnage was sent away, big orders wore invariably placed at times when competition was very weak. Practically throughout the year the supplies arriving at Auckland quite met the demand. Any attempt to unload our accumulated stock under those conditions would have ended by placing the producer on the gumfields in a hard position. Adulteration op Kauri-gum. It was stated in my report last year that the adulteration of kauri-gum with cheaper resins had long been suspected, and that one Auckland exporter had been prosecuted and fined for making a false declaration in regard to a shipment of kauri-gum adulterated with yacca-gum from Australia.

Country to which exported. 1! H2. 113. 1! ill. .915. 1st Ja 31st Me muary to irch, 1916. 1st April, 1916, to 31st March, 1917. 1 £ 308,456 United States of America United Kingdom Germany Canada Australia Belgium France Austria-Hungary Russia Netherlands Swedon Italy .. Japan Hong Kong Tons. 3,894 232,566 i Tons. 3,995 Tons. 4,531 £ 316,200 Tons. 3,312 £ 222,856 Tons. 974 £ 60,010 Tons. £ 3,158 218,214 2,468 1,053 40 39 123 37 159 2 42 35 15 1 114.640 32,964 3,370 2,487 5,088 3,037 4,611 184 974 952 41-0 22 3,390 833 62 80 126 45 112 53 60 15 9 187,547 27,880 4,618 3,933 5,120 3,995 2,617 1,725 2,495 420 300 3,335 373 70 19 34 42 14 3 8 20 23 1 148,370 21,193 2,114 1,720 1,519 3,599 329 225 664 560 855 96 1,172 56 9 5 48,585 4,550 594 430 336 118 5 13,548 8,972 314 i,484i 68,378 133 7,718 29 1,982 21 2,118 50 3,440 1 8 539 8 Totals 7,908 401,301 8,780 549,106 8,473, 497,444j 4,57, 279,133 1,433 82,844 4,862 300,271 Country to 1st Apri which exported. 31st Ma 11, 1917, to irch, 1918. 1st Apri 31st Ma 11, 1918, to 1st Apri irch, 1919. 31st Ma 11, 1919, to arch, 1920. 1st Apri 31st Mai 1, 1920, to 1st Api rch, 1921. 31st Mi 11, 1921, to 1st Apri irch, 1922. 31st Mo il, 1922, to irch, 1923. United States of America United Kingdom Germany Canada Australia Belgium France Austria-Hungary Russia Netherlands Swedon Italy Japan Hong Kong Tons. 2,316 £ 104,516 Tons. 1,371 £ 81,914 Tons. 2,037 £ 157,251 Tons. 3,224 £ 345,992 Tons. 2,487 £ 266,922 Tons. 3,742 £ 367,946 363 1,929 18 13,982 124,271 1,577 346 572 49 19,977 45,588 4,820 1,650 I ,016 23 90,422 61,005 1,936 2,544 314 49 149,422 24,481 4,802 1.297 58 89 37 104,094 3,574 9,641 7,073 1,960 70 109 84 129,082 3,363 7,462 6,679 90 20 1 4 1.381 1,000 170 326 10 506 •• ■ I 4 Totals 0,131 524,701 3,968 391,304 6,080 520,409 4,636 304,852 2,338 152,299 4,726 310,614