BRITISH TRADE.

Press, Volume LXIII, Issue 18889, 3 January 1927, Page 10

BRITISH TRADE.

NEW YEAR PROSPECTS. AN OPTIMISTIC REVIEW. . \»T CABLT.--FBESS ASSOCIATION— COPIBIOHT.) (AVSTBALIAN AND W.Z. CABLZ association.) (Received January 2nd, 5.5 p.m.) LONDON, January 1. "We may look to the New Year with quiet confidence," is a sentence in the annual review of one of the principal firms of wool brokers with reference to their particular trade, and the same ientiment is expressed by people connected with almost all classes of business. Everywhere a feeling of cheery optimum is apparent, and there is a general disposition to forget the troubles and bad times of 1926. The resumption of work in the coal mines occurred too close to the Christmas holidays to permit the heavy industries to resume fully before the end of the year, but there is abundant evidence of an early improvement in the iron and steel trades, and a number of shipyards have more orders than for some time past. The engineering trades, particularly motor and electrical manufactures, are also receiving good number* of orders, and the textile trade, the- boot and shoe, pottery, and chemical industries are all becoming increasingly active. The Stock Exchange wound up for 1936 in good form, with prices all round remarkably firm, and there was an almost entire absence of any selling pressure. Certainly the volume of business was not great, but the firmness of gilt-edgeda occasioned by the favourable reception accorded to the conversion loan spread to other departments, with the result that the tone all round was confident. Good orders are expected when the Exchange reopens on Monday.

Butter. The butter trado continues active, and with the improvement in industrial conditions throughout the country the demand is expected to increase. The otftlook from the sellers' point of view is regarded as promising. Supplies from New Zealand and Australia this month are plentiful, but decreasing. Australian shipments point to something like a shortage before the season closes,; and if the consumptive demand is maintained, as seems probable, it wouHj.not. be surprising to see"prices adrance'furtheK Australian Eggs. The Australian egg trade is concluding in a disappointing manner, and cargoes bj \tlie last two steamers, the Narkunda and.the Herrainius, are unlikely to realise good prices." The mild weather which prevailed in the greater part of England' resulted in heavy supplies of new-laids in all the country markets, and in some places they have beqn as cheap as 19s per 120. Consequently it has been impossible to maintain the prices oi Australians, especially as their reputation has been somewhat smirched by some parcels arriving in an unsatisfactory condition. Recent arrivals show improvement, .but certain lots'display all the previous faults. •' The Wool Outlook. Discussing the wool outlook, the Schwartze, Buchanan Company write: "The values of raw material to-day are mora in accordance with the' value of the finished article than they have been for a considerable time, so that, with wool on the present basis, there should be no likelihood of any serious decline, and, though possibly prices may be affected in the early part of the year by the uncertainty of the franc, there will be a recovery later in the year. Fashion still tends towards fine goods, and even the present vogue'for atockinette costumes made of merino or fine crossbred wool seems to have displaced the former vogue for coarse knitted goods. Thus the outlook for medium and coarse crossbreds is not dear. They look distinctly cheap, and certainly they cannot be very remunerative to the grower. Still, there is no sign of any improved demand for these styles, though by their very cheapness they may attract increased attention and create new outlooks." BANKRUPTCIES. A RECORD NUMBER. In >the year 1926 there was a record number of bankruptcies in the Chrisfcchurch district, a total of 65 being registered, as compared with 61 (tho previous highest number) in 1925. Farmers head' tho list with 11 bankruptcies, labourers coming next with aix, and builders following with four. Of .the 65, thoso who were working for wages numbered 26, employers numbered 24, and those working on thqir own account 15. I Hie following table shows the numdealt with each year since 1917: 1917 ... 33 1918 ;.. 10 1919 9 1920 ... 22 1921 25 1922 ... 41 1923 46 1924 . 49 1925 ... 61 1926» ... ... 1.. 65

LONDON MARKETS. (it cablb—pbms association—coptbioht.) (AVOTIAUAH AXD U.S. CAB LB ASSOCIATION.) (Beceived January 2nd. 11.15 p.m.) LONDON, January 1. Cotton—The Liverpool quotation (or American middling upland, February delivery, Is 0.78 d per pound. - r BubbAr—Fine hard Para • 16Jd a pound, plantation first latex crepe 19id, smoked • fibbed sheet. 19|d. Jnte—ls,dian native first marks, JanuaryFebruary rfhipment, £3l a ton; New Zealand hemp, December-February shipment, £3B 10a a ton. Copra—South Sea, December-January shipVast, £24 lOi.a ton. Linseed Oil-*—£39 a ton, equal to 3s ljd gallon, turpentine 59s a cwt, equal to 4s Hd a gallon, . Hides—There is a good demand. Heatworks dry-salted Queensland 35 to 451b, 9Jd a lb,' >0 to 401b 9*d a lb, 25 to 351b. 9}d a lb.: 20 to 801b 9}d a lb; New South Wales, none " offering; wet salted Queensland 50 to 601b 7|d a lb, 40 to 501b 7id a lb; New South Wales wet salted 7Jd and 7Jd a lb; Victorias abattoirs 7Jd and 73d. TO PRESS" SUBSCRIBERS . Before going away arrange for the <Wiyery Of - "THE PRESS" at your Holiday Address. "THB PBESS" is available on tbe .day. oflssae in nearly the whole of the tenth Island. fBZ PUBLISHES, «»JHB PRESS,"