BRITISH TRADE.

Hokitika Guardian, 7 February 1923, Page 4

BRITISH TRADE.

•••''R’l NIGHT! v !!l-:v"I E\V. THU STO< K EX', I i AN ( E. i.GMHiN, Ueb J. The s:,,ek marl,,-is tailed i maintain I heir strong position oi a fort night ago. The a. '-a.milia Icd on !l lli-lli of the Ruhr ocel'pagi'll. t ‘a, I ,a u.-a,line w ra uglmgs, Amorim n debt {t^siiion. and the «■ rash in;;* *0 (.'ontimmlni ew name's bro:iy;liL nine i a mm h sn In I ued frame of mind muon operators, with the iv-ui. that the volume of business IcR away greatly earn,' their huoynney. 'file position imj.ro'. - id distinctly mi Thin-day. when tin American ib-bt decision was aninmta-cd. sanne. and lb-;, 'weak wound up in tai I -in i' si v! - ■ t ban ii o peltt <L SIGNS 111-' STRONG lifViVAli. 1 itleia sting comment s were made ol: the trade position by the chairmen meetings ol u o big hanks. Mr W alt-a Leaf, of the Wes lin i nst,-r Bank. set". iL was clearly impos-ibb- a, liop-a tor any great revival of trade Horn an. ol the old customer* in Ct utral Hump--whose recoverv vv-'m entirely up with the Germans. We must draw what idle i-oiisohi! ion w: (ould from the fact that so imp'riant an in dm,trial rival as Germany bail virtunlly withdrawn from i-niiqa-t ition. except in certain classes of goods in wlna 1 , she praetienllv !n-hl a uumopol.v. not,,!lly (Iv;-stuffs. But. despite adverse coinlit ions, there wer-' defn-ite sign' of a strong re.ival which was a,ioad\ doing something to diminish unemployment hen and seemed likely belore long to do much more.

Sir Harry Goschen, of the National .Provincial Bank, said we had expected a more ra;>id rctr.tpcr.atioji of the world’s trade than had proved possible, hut there was no reason to despair. Certainly .some prng:, s had been made. We had secured a bud in exports of iron and stool, which twelve years ago Germany had acquired from us. and in which .live years ago. the United States headed the list. For the first eight nnwiths of IW-. our exports wore 2.(100.00(1 tons, a.s compared with United States’ exports of 1,413,000 tons. Increased orders were being placed litre and. in view of the great world-wide need for steel and iron production* for railways and other undertakings, there were grounds for boiling fur increa-ed proxpt ritv in this branch uf trade. THE WOOL MARKET. .The set-hack in merino wools at the London sales is attributable mainly to the extraordinary conditions on the Continent and particularly to depn (nation in currencies, which have reduced continental competition ‘to a minimum. French and Belgian buyers can only operate at juice* which will allow for depreciation in value, 'flic French and Belgium demand ialso affected hy the continuance of tin strike at Venders. There was some compel it inn from Giimany. hut much less ill,-in at the previous sales. Americans and representatives oi the Homo trade are the principal purcha-ers and catalogues arc generally being well cleared. Reports uf strong markets ill Australia are tending Up eniiutrraet the elfort of tlm decline to the continued demand. BUTTER OUTLOOK. Supplies of Australian and New Zealand butter just, arrived nr due by l-'cbruary ftb amount to ■l-U'. ,!, !d boxes. This may be rather more linin' the market is capable of absorbing imnwiliatclv. It. is t herd ore, possible the prices' may ease sßg! lly. but the future Australian and New Zealand supplies an- light and the hot. dry weather in t.h l ' Argentine i- seriously atiecting the output so the butler is bound „riu si-iiru- later on. and tin* future posit ion looks V ry st rung. Cheese ‘-locks tire very hunt. but high, ’file retail prices arc eh'eking coiisunint ion. and a- a guua quantity ~j- v,.,,/ Zealand is loming along, a r.'iluction in Home pric>\* appears Hk- ! y .