BRITISH & FOREIGN NEWS

Hokitika Guardian, 10 July 1925, Page 2

BRITISH & FOREIGN NEWS

[‘‘TTrn Times” Service.] THE WOOL TRADE. LONDON, July 7. Air A mlivw Williamson, presiding at tho Australian Estates Mortgage Company meeting, said that tho statistics oi the wool position based on tho past three years, showed that consumption had exceeded production by at least one million bales per annum. This was made possible by the heldovor wartime wools. These were now sold, and there was no likelihood of any material increase in wool production. There seemed little doubt that the wool stocks on the Continent were small, and Britain’s supply was probably hardly equal to her normal pre-war stocks. When confidence was restored, buying would again begin for tho replenishment of the depleted stocks. The whole position must then he strengthened. He suggested that the lie-t wav lor the wool growers to lace the position was to regulate their offerings, in order to ensure that tlio marker was neither flooded nor starved. Continued withdrawals of wool only tended to postpone a restoration of stability and confidence, and to encourage the use of substitutes. Hi- Board had eareuflly considered Sir John Higgins's new wool marketing scheme, and had definitely decided against it. as being most undesirable. and as being fraught with the greatest danger to the growers best, interests. He believed that this view would coincide with the weight ! niiiiiiou in Australia.

EMPIRE TRADE. LONDON, July 7. Mr Ellison (of the New Zealand Produce Association) lias submitted a suggestion to the Imperial Economic Council that a proportion of a million mlicviition to lie spent in connection with, ihe export of British pedigree • took should be used to keep up laboratory investigation into the problems of refrigeration, and tho establishment of a Trade Information Bureau for ihe benefit of the Dominion producers. LONDON, July 8. The Duke and Duchess of York were present at tho Alarchioness of Salisbury's reception for Empire visitors. .no guests included the Baldwins, members of the Cabinet and largo numbers of Australians and Now Zealanders.

LONDON, July 7. At the advertising Convention, at Harrowgate, in drawing attention to the proposed slogan, "Buy British Goods!” a noval view was expressed by Mr Dodd, of the Weekly Newspaper Proprietors" Association. Ho said that he did not agree that Britain’s salvation depended on the development of overseas market. Britain was actually the world’s greatest undeveloped market for British goods. Any advertising campaign in the Dominions would need the greatest discretion. There was a strong inducement to look to the United States when seeking to sell big lots of produce.

RUBBER ADVANCES SENSATIONALLY. THE BENEFIT TO BRITAIN. LONDON, July 8. There has been a sensation advance to 3s 9d in the price of spot rubber. This is the highest quotation for nine years. The strong demand is due to the activity of the American manufacturers who had been working on low stocks in the hope that there would Ix 3 a reaction in quotations. Buyers are now competing keenly for even lower grades. The rise in price will result in the increased release of rubber during August under the output restric-

tion scheme. The ‘‘Daily Express” caluculates the increased prices the American users are now paying to the British producers are almost enough to pay current instalments on the war debt to America. A year ago rubber was under eleven pence, but the Americans refused to buy hoping to break up the Stevenson restriction scheme when things were at their worst. The turn came as a result of the demand for motor tyres.

COMING TO NEW ZEALAND. LONDON, July 9. Sir Ernest and Lady Rutherford sail shortly for New Zealand.

PRINCE OF WALES. CAPETOWN, July S. The Prince of Wales attended a monster native indaha at Salisbury in Rhodesia. Over ten thousand, including eight hundred chiefs and headmen from all parts of Mashonnland were present. The Prince was presented, on behalf of the chiefs and people, with a magnificent pair of elephant tusks, joined together hv a broad hand of Rhodesian gold and platinum. A DIPLOMAT’S SUICIDE. CONSTANTINOPLE. July 8. The First Secretary of the British Embassy. Air Eric Adam, committed suicide by shooting himself with a revolver. Lie was the son of the ALmchcster magnate, Sir Frank Adam.