New-York tribune., 1921-12-25
Steady Recovery in Trade
Aids Australian Outlook
Exports Continue TO Increase and Wool Prices Hold
Firm, but Meat Industry
Remains Stag1saas

MELBOURNE, Nov. l5.-Financial
ambitions ia Australia continue TO i'm
..ovs so .hs. on the whole the aitu-
zion is nach better than it was few
.se;hs ago. This improvement il also
.r;sencco ev he advance in the ex
.ssrse rs:e 70 SS.sS to the pouHd ster~
sag ara as tAe na0utAlv export figures
,,sfsrue % increase and import figures
!. seegease thess aee prospects of still
rrtSar Improve meat The wool mar
~ ~sa,aiNs generally arm, but stag
s.f;an ssiH contsHCes in the meat ana
-.ss.uSckiGg industries, Another
sron,sinr feature is that the wheat
.rsn is expec.ed Sc be exceptionally
~ is-ge this year. Unless unfavorable
rsasheY conditions should develop in
he near future.
stocks ol export commodities are he
sg reauced aUd, although import stocks
snsral,y are greater than they were a
la ago as EhiS time, there s - MANY
sdjessionS that buyiRg has been re-
,ag,cs. though tAc import statistics
ave not yes reelected this tendency.
The prices 6 Import speclalties are
-sueraly ruling somewhat lower than
bev were month ago ana, although
,uport staples have not shown cor
-,saondIng decline, there is a general
Ealing that such staples will sell
aver shortly. Prices Of raw products
,nter;ng Austria $ export trade have
sIso declined somewhat during the
nsath.
Labor Unrest on Wane
labor unrest and strikes have been
ssniov. possibly owing TO = decreas ipc
sur;ae September is estimated at "a
yer cent, but more probably to the
-salization that q period of business
ytsgnation and declining prices is no
,ne to press for greater wages. This
vas clearly pointed ont by Justice
pewer's Judgment In refusing the an
ulicatson Of the Federated Gas EN-
slogees' Union TO have the court award
basic wage OF IS los Sd a week. the
sndine Of the R0wal Commission in
Yorember, 1920, which, however, had
heen based upon the high prices ex-
sting during the twelve months pre-
vious. How great has been this re-
iuct.on Of prices is roughly shown by
.he fact that the general index num-
ber Of wholesale prices in Melbourne
for all groups Of commodities for Sep
,snber, 1921. was 1902, compared with
he record high of 2296 for September.
ls9O This IS 3 slight increase over
ne 1889 for July, 1921. These index
raubers are based upon the prices Of
JuIy 1914, taken IS 1000 and. of
course, cover many commodities which
10 not enter directly into the cost Of
living.
Australia's export trade for Septem-
ses was valued at s9,0S0, ,0G0, an appre-
.iable Increase over the eS.3e0,O 900 for
August, though not much greater than
he e9,09S, goo recorded in September,
1870 On TIE other hand, the import
trade for September. valued at e6,79O.-
coo, shows = decline Of 7.3 per cent
from the e7.540 009 for August. and is
only 49, per cent Of the value of I'M
ports during September. 1920 For the
1uly-September quarter this year ex-
/ ports were valued at G25. 100000 and
4 Imports at g.. 10000, giving an excess
I Of imports over imports OF e4,5S0.000,
1 compared with an excess OF imports
ever exports for the CORRESPONDING
quarter Of 1920 OF eI3,740.000, result
4 ing from imports valued at e41,9I0, 600
] and exports al e2S17, ,000.
Australias trade with the United
l States for September, 1921, consisted
l VI imports valued at 81 ,560,000 and ex-
| parts valued ct e372000. is against i'm
4 ports valued at s1.s17.000 aad exports
| at $4,000 for September. 1920.
Decreased Business Activity
As bank clea-ings are L very good
/ INDEX TO business activity, il is of in
| srest to uots that the bank clearing
| Of Melbourne for the fve-week period,
| October 4 to Novenber Z. totalled e55.