BRITISH TRADE.

Hokitika Guardian, 7 September 1922, Page 4

BRITISH TRADE.

AN OPTIMISTIC FEELING. PROSPECTS FOR WOOL. LONDON, Sept. 2. The Welsh collieries had a splendid trade during August, the host for many years, coal being rushed from the pits to the sen-board at a feverish pace. Many millions of foreign money lmve poured into South Wales in the last six weeks and the demand for eoal for export is likely to continue fulsome months, although the price has advanced seven shillings a ton in a few weeks.

Other industries are also showing satisfactory enlargement of trade, and it is interesting to note that at yesterday’s meetings of four important companies dealing with such varied interests ns beer, margarine, wholesale drapery, and West African trade, the chairmen were equally optimistic regarding the future. THE STOCK EXCHANGE.

The Stock Exchange closed clieerl idly after a week of suspense pending the Reparation Commission’s decision, ! and the settlement of pre-war accounts which was fixed for yesterday. This passed off without incident, except that one old-established firm went into voluntary liquidation on Thursday, and there was no need to use the hammer whoso sonorous knocks used to precede the announcement of a defaulter. Now that the war emergency rules have expired, defaulting members will he “hammered” ns in pre-war days. The satisfactory settlement of pre-war accounts, coinciding with the decision of the Reparation Commission had an immediate effect and in practically every department prices moved Upward. WOOL PROSPECTS. The opening of the wool sales on Monday is being awaited with intense interest, owing to the uncertainty as to whether the chaotic condition of the Continental exchanges may cause a reaction in wool values. The opinion is generally held that merino priors will he fully maintained, and many people exwet a further advance. Topmakers evidently anticipate higher prices, for some have withdrawn from tbe market altogether and others are quoting prohibitive prices. Indeed, spinners state that business in merino yarns lias practieallv stopped owing to the high prices. Sir John Higgins's and Sir Arthur Goldfinch's statements forecasting an acute shortage of merinos within a year are having t c-i•

effect. CANNED FRUIT TRADE. The canned fruit trade is going from had to worse. With the continuance of cold, wet weather, the demand almost nothing. One large wholesale grocery firm employing forty travellers Throughout the United Kingdom only received orders irom them for three cases of fruit in one week. The quaut,tv for delivery from the chief London wharf where fullv 1 *>0,0(10 eases are stored, amounted last week to only a Lint fifty cases. Some holders -r canned fruit not belonging to the pool fried an auction sale. About oMO cases of Australian canned peaches and pears were offered, but only two lets were sold, although tbe reserves were fixed at very.modest levels, the higlrst bids being 10s for one dozen 27 ounce tins.