BRITISH TRADE REVIEW

Hokitika Guardian, 7 September 1921, Page 1

BRITISH TRADE REVIEW

1 .OXl)0\. SepU'inbor 3

Trade conditions generally have shown a material improvement (luring the Inst <1 it;ii ter, hut the slide of nffiiirs still is fur below normal in pence lime. The volume of trade relatively is somll and the value of Itritish exports, in spite ot enhanced prices, is much under the corresponding period of Ibid, hi any sections of industry, however, show a distinct revival with a more hopeful feeling among traders. Tile more settled aspect of tile labour situation as regards the principal industries ami trades is making manufacturers optimistic regarding a continued improvement in future. Freer supplies of fuel have caused a sprint in working off orders now in hand, and it appears probabh' the activity will continue to increase now that the ~o:il miners have mostly ntsnmed. Officials who a're specially watching the trade position state that there already is aft increasing number of enquiries and some actual business and with labour costs on a lower basis manufacturers will he better able to meet, competition at. Home and overseas. The general industrial position appears to be healthier than for many mouths past. There is every indication that a recovery of trade is in progress l,al there are two adverse factors which must lII' reckoned with, the world's economic position and the high price of llritisli coal. The prospects of reviving trade are being reflected to a certain extent on the Stock Kxehange. where textile, steel and iron securities ltavw been quite aetive and strengthmed to a degree comparing very favourably '• the position during recent months, bm many consider the improvement is unlikely to h- maintained, as the roe is attributed mine to holders relm.t„ sell than to any large demand. In this slate of affairs moderate buying orders are sufficient to raise rices. The cessation nl purchases may iv-ult in a reaction. The Stock I'.Nehnnge Is genc rally cheerful, (lilt-edged have iie.ielitted from the easy monetary conditions and the investment demand has be.-n moderately stimulated by interest disbursements. \ feature of the wool trade is C.crtnanv’s loiitiinialiee 1" give principal support to the uiaiket, op. toting tivelv every centre. There are no si.ois of abatement of Oeruiany’s remarkable revival. Ormans enjoyed an odvailUV'e over llritisli linns of forty per cent., in general wholesale nriees nl staple eiimuindities. due to the depi.listed mark, and this advantage is eousideral.lv in, l eased when the cost of labour is added With this substantial premium on export. the florinai, textile trade is profiting. Meantime the H"im trade ; s meting with improved enquiry m semi-tnatlill net ureii goods, hill this is el,ietl v a retleetion of font ioelital activity. and 111 piece goods and other advanced sections of home industry there is little improvement. Tlie attention of the M'-lal I'.xehange Is principally centred around tin. There has been a sharp recovery from the lowest, prices, which are now on the uo„i:id'c. though the advance m largely attributable l„ speculative ni.ial,users. |, is authoritatively slat,.l that dehycri,.s In tho In it e.l kingdom and I ■lute-! S f, t ..s have been on a larger senF than f,„- some time past. The turnover in l.ondou was :fjtr.l lons this week, win , uuslit liti s a record for the eu,r.-.,l vear. Tim large slocks bought «nu,e liiniiths ago by the Mala\an an 1 |.-.,st Indian (loverimienim. in order to bell, local predmers. si ill hang over the ,m,,ket. which, however, lias hern stnneultat ~.assured h.v the renewal nl l he 4 lelwnoii (InvornimMits not to sell al anything like current prices. One or the principal I ondmi metal houses says the general feelingjthat the lowest quotidians have been touched.