MIXED FACTORS IN BRITISH TRADE

Hawke's Bay Herald-Tribune, Volume 81, Issue 69, 14 December 1937, Page 6

MIXED FACTORS IN BRITISH TRADE

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Industrialists Express Optimism TOPS QUOTATIONS ADVANGE

(By T«le*raph—

-CiDyrirnt.)

LONDON, Dec. 12. Aithough the past week has been notable for an outbrust of optimism among industrial leaders, inciuding Sir Geoffrey Clarke, president of the Association of British Chambers of Commerce, as well as a number of company direetors who do not foresee any signs of a real slump ahead, and while investors discount a certain amount of window-dressing behind the utteranees, there is no doubt tnat sentiment is much more hopeful. The most satisfactory feature is the better tone on Wall Street, which appears to be unperturbed at fresh adverse business. On the contrary, the British unemployment returns were rather an unpleasant shock, the advance being much greater than anything that can be ascribed to seasonal canses. The radio industry is in an especiali/ oad wry. Motor-car registrations ar^ also beginning to deeline, as people are tending to postpone the purchasing of new models until better times. The increasing cost of Jiving is affecting purchasing power, which will first affect smni luxury goods. The International Tin Coniniittee has taken a drastic step in reducing the tin quota to 70 per cent. of the standard tonnages. The three corntries able to produce above that rate — Malaya, Nigeria and the Dutch Indies — however are allowed to export approximately 80 per cent. The decision involves a total cut of 37,000 tons per annum, bringing the estimated > -nsumption and production to approximate equilibrium. The quotation for all qualities of wool tops advanced during the week, and prices are noiv more in line with replacement costs than' for some time. Topmakers, however, find difficulty in passing on alvanced wool prices to their customers, as the users prefer to wait until they are reasonably sure of obtaiuing orders at a higher level. The Australian trade publicity service is inserting advertisements in rewspapers headed "Butter Priccs Down" rnd adding: "People are worried because a temporary scarcity has raade butter rise." The cheese position is similar to that of butter. Aithough Ihere is not a great weight of supplies offering the market tends to decline. Yet anyone wanting appreciable quantitics woulc! find it impossible to buy.