JAPANESE TEXTILES

Dominion, Volume 32, Issue 148, 18 March 1939, Page 14

JAPANESE TEXTILES

Position In Australia

For the first time for many years the pressure of competition of 3a l’ illl PSe textiles on the Australian market has bu n greatly reduced, states a report from Canberra. Because of .this unusual situation Japan will probably fail in the current financial year, to supply her ful peimissiblc quota of these textiles to the Australian market. . Though detailed figures are.not jit available, imports of Japanese cotton and artificial textiles to the end of December were considerably short 01 half of the full quota ot about 10a,606,600 yards which is allowed by the trade agreement made in June. There appears to be little likelihood that the deficiency will be made up in the second half of the year. Japan’s failure to take advantage or the quota allotted in Australia is attributed to t,he drastic restrictions now being imposed there on the use of credits for the importation of raw materials. The effect of the decrease in textile exports is revealed by llto fact that to December 31 Australia spent only £2.(48000 with Japan, compared with £0,6i9,000 in the corresponding period of last year. The collapse of the textile trade may have an important bearing on future trade relations. The present trade agreement will expire on June 30, and so far no move has been made to renew it. lite Australian Government, is unlikely to take the- initiative because of tiie fall in wool purchases by Japan over the last two years. A move for a new agtecment will probably be made only if Japan seeks to safeguard the textile quota at present allotted to her.

London Butter Market Dull By Telegraph.—Press Assn.—Copyright. LONDON. March 16. The butter market is dull. Prices for Dominion butters are unchanged. The market for Danish is weaker at 136/- a cwt. The cheese market is slow. New Zealand, white and coloured, 00/- a cwt. AUCTION DIARY TODAY. At Trent ham, 9.13 a.in.—Thoroughbred Sale Brood Mares and Yearlings, etc. (Wright, Stephenson and Co., Ltd.). MONDAY. Johnsonville Store and Dairy Stock Sale, 12.30 p.m.—Mixed Stock (M right, Stephenson and Co. Ltd.) Woodville Sale, 12 noon.-Mixed Stock (Abraham and Williams Ltd.). TUESDAY. Lpvin Sale. 11.30 a,in.— Mixed Stock. 8 Wllloston Street. 1 p.m—Household furniture (Johnston and Co.). Fordell Horse Sale. 1 p.m.—Sale ot H<>rs?s ace. Mr. W. McDonald, South (N.Z. Loan and Mere. Agency Co. Ltd.),