BRITISH TRADE.

Hokitika Guardian, 14 September 1926, Page 4

BRITISH TRADE.

MARKET REVIEW. BOOM. IN TIN PRICES. LONDON. September 11. Tin is providing a sensation in the metal markets. .Viter several years' waiting, the price has passed £3OO, and with the statistical position growing stronger and the visible supplies at the cud of August representing only about live weeks’ consumption, it is not surprising that the tone oT tbe market is bullish. The rise in raw material lias had the natural consequence of stimulating activity in shares in till-mining companies, and there has been a small boom in these, especially Malayan, many outsiders joining in. Buyers were so numerous that prolittaking sales failed to cheek the advance in prices.

Other sections of the Stock Exchange are also beginning to show signs of improvement as the holiday-makers trickle hack, and the growing hones of a coal settlement have led some to increased ivrivitv. There Is an undertone of confidence wide' l , promises well lor the future.

WOOL. Everybody expects a firm opening at the wool sales on Tuesday. Although the quantity available is nLout 198.009 hales, it is reported that large German buying orders are on the market. Bradford will also la l busy. A Bradford correspondent writes: "There is confidence now that the wool position is very sound, the general coniocture being that a recession of values is extremely improbable. 'lV'is, however, implies that the one danger to be guarded against is a rapid upward rush, for which the penalty would be exacted Inter. This view appears t> bo influencing the volume of business in fully-manufactured goods, news from authoritative quarters being that orders for cloth arc coining along more freelv."

11l "IT K l(. The butter market passed through a period of serious 'depression recently, but during the past few days more enquiry has been noticeable, and the best-informed people in the trade think the bottom lias been touched. Undoubtedly one of the chief reasons of the bad trade 'has been the reduced consumption in the North of England owing to the eoal strike, and a resumption of work there would have an immediate effect, hut any considerable recovery in prices seems out of the question in view of the heavy quantities ill cold store and the near ap proacli of the colonial season.

WINE. Alt'ough it is too early yet accurately to forecast the prospects of the European wine crops, preliminary reports indicate the probability of poor vintages from Eranee, Spain and Portugal. Accounts received from Bordeaux state that the prolonged rain during the early growth of the vines has been followed by mildew and other pests. Ihe yield is hardly likely to exceed 'mil that <d 1925. From Burgundy it is reported that mildew is prevalent and the vines arc very backward. 1 11 loss the best weather prevails till gathering is completed the crop is likely to be very disappointing in quantity.

Similar reports come from the Champagne and Sauimir districts. Reports Irom Tarragona say the prospects arc far from bright, and the crop is likely to he only half of the 1925 yield. Thenourn district suffered heavily from thunderstorms and hail, and the vintage will nrohahly be only about onethird of what was expected early in the season.

All the Spanish provinces report indications of a reduced crop, and Spanish trade newspapers talk of the existence of a wine crisis. A syndicate of wine exporters in Barcelona has sent a memorial to General I’riino do Bivera asking for an immediate reform of the abuses in the export trade and a bonus to all bona fide exporters on all wines exported.

BACON. Some years ago' fair quantities of Australian bacon came to London, and there were prospects of a good trade being established, hut for some reason shipments censed. Interest in Australian bacon lias been revived bv the recent arrival of several hundred sides of Cumberland cuts from Queensland and New South Wales. These greatly oleased importers, quality and dressing being alike excellent, as was shown by the price realised— 112 s per cwt.

One importer says: “T can do with much larger quantities of bacon like this, as it compares very favourably with Canadian and Danish. I would like regular supplies.”