BRITISH TRADE

Dominion, Volume 14, Issue 101, 22 January 1921, Page 7

BRITISH TRADE

CUT IN METAL PRICES TO SECURE FOREIGN ORDERS CONSEQUENTIAL REDUCTION IN WAGES By Telegraph—Press Association-Copyright. London, January 20. Scottish steelmakers have made a drastic cut in their prices, with a view to saving heavy foreign orders which are going to Germany, .Belgium, and America-. The reductions vary from 21s. to 70s. per ton, and will curry a sharp drop in wages, under a sliding scale. —Aus.rN.Z. Cable Assn. CLOSING OF PALMER’S WORKS POSSIBLE. London, January 20. Owing to - the acute depression,' Palmer’s Company will probably- close the’whole or part’ of their iron and steel yvqrks at Jarrow. . All the employees .have been notified that they will only be engaged from day to day after the end of the month. —Aus.-N.Z. Cable Assn. BROKEN HILL COMPANIES DECREASE IN CAPITAL VALUE. ■Melbourne, January 21. Mr. C- Fraser, of the Broken Hill Association of Smelters, comparing the mart ket capital value of the Broken Hill mining companies .at the end of 1920 with the highest .prices ruling throughout the rear, said it showed a decrease of .seven millions. There was a drop in the whole base metal industry of fourteen millions.—Press Assn. ■ EXPORTS TO AUSTRALIA DIFFICULTIES OF FINANCING. London, January 20. Mr. Nugent, Director of the Federation of British Industries, in an interview, said that British exporters were severely hit by the fact that they could not get their exports to Australia financed. Unless something was done to rectify matters it might mean the ruin of certain’ manufacturers. - The present difficulties did not< encourage British manufacturers to spent! time and money In trying to trade with Australia. Aus.N.Z.;: Cabin Assn. SLUMP IN SCOTTISH LINEN TRADE London, January 20The Scottish linen- trade has slumped. Many firms have not booked an order for two months, as buyers refuse to enter the market. —Aus.-N.Z. Cable Assn, - LITTLE DEMAND FOR FREIGHTS BATES ON FRUIT REDUCED. London, January Freights are dull. -Steamers are fixed to load Australian wheat in February at 82s. 6d. and sailing ships at 60s.—Aus.N.Z, Cable Assn. London, January 19The Aeents-General waited as a deputation on the Food and Shipping Controllers, requesting increased space for fruit and a reduction of freights. It was agreed to ask the Shipping Committee of Australia to allocate snace for 400,0110 cases for February, 500.000 for March, and 400.000 for April. The Ministers also agreed to abandon 2d. per case primage, thereby reducing the freight to Bs. net per standard case,. —Aus.-N.Z. Cable Assn. ® BRISTOL AND DOMINIONS PRODUCERS’ ASSOCIATION HEAVY LOSSES FROM FALLING MARKETS. London, January 20. The creditors of the Bristol and Dominions Producers’ Association have decided upon voluntary liquidation Lhe report to the meeting stated that theie were heavy losses after 1919 owing to the falling markets. The diminishes sales of canned goods resulted in. a loss of £31,000; the loss on syrup uas .£5B 000 The unsecured liabilities were jJB7>oo'. and those due to secured creators were. £45.000. In addition, the Ministry of Food claimed to be preferential creditors for ,£-18,000, which. . won... sweep away all the available assets; but this preference would be resisted to the last The capital, which had been mcreased to ■ £55,000 in 1920, had been wholly lost.—Aus.-N.Z. Cable Assn, ISo far as can be ascertained the amount of the capital of the Bristol and Dominions Producers? Association subscribed in New Zealand is approximately £12,500/1 MARTYNSIDE WORKS CLOSED (Rec. January 21, 8.20 p.m.) London, January 20. The Martynside Aeronautical Works fcve been closed owing to depression in business.—Aus.-N.Z. Cable Assn.