BRITISH TRADE.

Hokitika Guardian, 2 September 1925, Page 4

BRITISH TRADE.

fortxiul!Ti.v kf.viuw ■M ! RANK KATE. I.OXHOX. August :•!!). Hope-, ol a lurther reduction in 1 lie hank rale prevailed umil Wednesday, V. !,« :i il ll t ll.lt in :p ill| |i:i<l been v it hdrawn from the Hank ill Fngla ml. making a total i'lllun r.l n I ..'il II).11! ii I since tin* lull’ was lowered in 1.1 per f.'iit. Thi'si' movements i-vt inunislu'il all ideas id an onily roducl inn to I per ceni and tlie result was a general. though slight, easing "I Stock Exchange prices, vihii-h previously had been very linn in a n l ieipa I ii in id a reduction. Hut nun lints are still eomparai iveiy good in iniie and the nut limit lor inoreased business seems hopetill. As Hite of the financial jotirnals says, the more vigorous tnatitter in ivhieli iuiernational debt mtestinns are being tackled is certainly encouraging and tile degree to which certain industrial shares arc being supported would suggest that we arc believed to ho mtteli nearer a trade revival than is apparent from sttrf.'teo conditions, hilt unfortunately the shares so favoured hardly being to our staple industries. .Monetary conditions should lie easier next, week, for nearly .C20,0(!0.f)(l0 ol I (lovernment dividends are due lor disbursement on September I and there is likely to lie a revival of the talk about bank rate reduction, Inti it must be borne in mind that in this regard it is necessary to look for other factors than those represented by conditions in the short loan market. Indeed. any further decline in the bankrate must depend upon how matters shape in regard to the gold demand and the course of money rates in America. PElit'Y 1 AX WOOL. “Strong hopes are entertained that Peru may soon claim to he one of the chief wool producing countries of the world.” This optimistic prediction is contained in a report issued by the Peruvian C'lnisulate-Ocnera I in I .onden, regarding the (tovernment's model farm in i’ttnn, some 12.0(H) loot above sea level. A few years ago, it will bo remembered, l-H stud sheep were exported from I'riinitt to Peru by Colonel Sturdy. Those animals are now represented by 10.000 splendid sheep, grayling over IS.OOO acres in the Sierras. The wool yield from these sheep of the first cross is from four to four and a-ltalf pounds, whereas the old Peruvian sheep gave only a pound and a-ltalf. The increase tit value has been even more marked The old wool only fetched about Oil a pound, while that from the half-bred is worth 20d. Thus a pound and a half of the fleece of the old sheep was only worth 13d. while four and a-half pounds of the fleece ot the hall-bred sheep of to-day realises 20d. APSTRAPI AX HUTTER. Sales of Kangaroo butter at Wembley received i on-ideraMe stimulus during lasi week. The Overseas Fanner-’ l o-operalive Federation, who sell blitter at tlie Austro Inin Pavilion, arranged with the High Commis-isonor to give oai li purchaser of a carton of

Kangaroo butter as a souvenir, a small white metal butter knife stamped with the picture of a kangaroo and the inscription, “Advance Australia.” These were provided by the High Commissioner. The result was instantaneous and the sales of Kangaroo butter this week amounted approximately to 000 lbs as compared with the previous average of about dOOlbs. AUSTRALIAN WINKS. Iu connection with the increasing demand for Australian wines, wliich is largely attributable to the advertise-

ment they received at Wembley, one of the leading importers points out that a gratifying feature is the growing imp.iiy for sweet red wines of the Port type. This class of wine is becoming increasingly papular owing to the dearness of wbi-ky. Ihe consumption of I’ort in public houses and working men’s clubs is growing daily and sever;.l linns arc now marketing Australian sweet wines at .'ls a bottle, but they are handienpnod l\v being unable to sell them as Port.