§ Mr. WHITTYasked the President of the Board of Trade if he will state the average prices of Indian and Ceylon tea realised last week at the Mincing Lane auctions with the corresponding prices ruling at the same period last year; will he state the amount of tea in bond at the present moment with the amount for the corresponding period last year; will he state the average prices ruling on the Mincing Lane market for the same growths at the end of May last with the corresponding period last year; and also the quantities in bond at the same periods; will he order a census of stocks of tea in bond in the hands of wholesale dealers, blenders, distributors, importers, and any others concerned to ascertain, if possible, the cause or causes of the recent considerable advance in the wholesale price of tea; in the event of any undue accumulation or withholding of stock being found, will he take proceedings under the powers possessed by the Board of Trade against any party or parties in possession of more than their normal requirements; and will he state the wholesale prices of low-grade Indian, Ceylon and Java tea ruling at the end of August, and last week's quotations for the same or similar articles?
Captain BATHURSTI will circulate in the OFFICIAL REPORT a statement on the points of fact raised in this question. The Government will not hesitate to use the powers they possess if they find that stocks are being unreasonably withheld. It is hoped that in future questions of this nature involving much work to the Department will not be asked.
The following is the statement referred to in the above reply.
The average prices of Indian and Ceylon tea realised at the Mincing Lane auctions during the periods mentioned, as 871W given in William James and Henry Thompson's weekly tea circular are as follows:
India. Ceylon. Per lb. Per lb. s. d. s. d. Week ended 30th Nov., 1916 … 1 0¼ 1 0¾ Week ended 2nd Dec, 1915 … 0 8⅞ 0 9¾ Week ended 25th May, 1916 … 1 0½ 1 1¼ Week ended 27th May, 1915 … no sales no sales Week ended 1st June, 1916 … 1 0⅜ 1 0⅞ Week ended 3rd June, 1915 … 1 0 1 0⅛ The Wholesale Prices of low grade teas, as given in the "Grocer," were:
26th Aug., 1916. 2nd Sept., 1916. 2nd Dec,1916. Per lb. Per lb. Per lb. Indian— d. s. d. d. s. d. d. s. d. Dust 8 to 0 11 8½ to 1 0 10½ to 1 1 Fannings and Pekoe Fannings 8½ to 1 0 8¾ to 1 0 10¾ to 1 2 Broken Pekoe 9 to 1 2 9 to 1 2 11 to 1 2 Pekoe Souchong 8½ to 1 1 8¾ to 1 1 10¼ to 1 3. Ceylon— Dust 8 to 0 10⅓ 8 to 0 10½ 10½ to 1 2 Fannings 8¼ to 1 0½ 8½ to 1 0½ 11 to 1 3 Broken Pekoe 9 to 1 1 9½ to 1 1 11½ to 1 3 Pekoe Souchong 8¼ to 0 10 8½ to 0 10 11 to 1 1 Java— Broken Pekoe 8 to 0 11 8½ to 0 11 10¼ to 1 2 Broken Souchong 6½ to 0 10½ 7 to 0 10½ 9½ to 1 1 Pekoe Souchong 7¾ to 0 10 8¼ to 0 10 10¼ to 1 0 The amount of tea in bond at the periods mentioned was:
Lbs. At end of November, 1916 … 125,667,000 At end of November, 1915 … 148,464,000 At end of May, 1916 … 102,489,000 At end of November, 1915 … 74,041,000