Fiji Conditions.

Brown & Joske, Ltd., a south Sea merchant company with head quarters at Suva, Fiji, reports a profit of £306 for the year ended March 31, compared with £302 the previous year. With £3291 brought forward there is £3598 available. Dividend of 7 per cent, on the preference shares —these are listed on the Sydney Stock Exchange accounts for £1400, leaving £2198, which is carried forward. Gross profit was £11,881, an increase of £2886.

External liabilities at £15,051 are higher by £5418, and debtors at £30,395 have been reduced by £2458. An increase of £2621 has taken place in stocks, which are £19,100, and cash and investments at £23,509 are £171 higher. Assets total £97,214, an increase on the year of £4,324.

The directors report that trading con ditions have been difficult and competi tion keen. A record crop of sugar was produced, and the extension of prefer ence in Great Britain on sugar produced in British colonies for a further period of five years enabled sugar prices to be stabilised for the Indian growers. Copra prices have fallen. Good crops of ban anas have been grown by the Fijians.

The export of bananas from Fiji has been re-organised by the quota system and by the opening of the Australian market, even though it is for a limited quantity. Total exports from Fiji rose from 92,000 cases to 173,000 cases over the calendar year. —“S.M. Herald.”