BRITISH TRADE.

Hokitika Guardian, 4 January 1927, Page 1

BRITISH TRADE.

FORTNIGHTI.Y REV lEW

[Australian & N.Z. Cable Association.]

LONDON, Jan. 1. “We may look to the new year with quiet confidence,” is a sentence in the annual review of one of the principal firms of wool-brokers with reference to their particular trade, and the same sentiment is expressed by people connected with almost till classes ol businos. Everywhere a feeling of cheery optimism is apparent and there is a general disposition to forget the troubles and bad times of 1926. The resumption of work in the coal mines occurred" too closo to the Christmas holidays to permit the heavy industries resuming fully before the end of flic y jar. but there is (abundant evidence of* an early improvement. The iron and steel trades and a number of shipyards have more orders than for some time past. The engineering trades, partic ailarly motors Ltncl electrical manufactures, are also receiving a good niniibe rof orders, and the textile trade, an d boot, shoe, pottery and chemical industries are all becoming increasinjriv active. STOCK EXCHANGE.

'iriie Stock Exchange wound up for 1926 in good form. Prices all round were remarkably firm and there was almost ail entire absence of any selling pressure. Certainly the volume of busiuiess was not great, but the firmness of gilt-edged securities occasioned by the favourable reception accorded tiie conversion loan spread to other departments, with the result that the tone all round was confident. Good orders are expected when the Exchange re-opens on Monday. DAIRY PRODUCE.

Til© Gutter trade continues active and, with an improvement in industrial conditions throughout tiie country, the demand is expected to increase. The outlook from the sellers’ point of view is regarded as promising Supplies from New Zealand and Australia this mouth are plentiful, but decreasing Australian shipments point to something like a. shortage befnio the season closes. If the consumptiie demand is maintained, ns seems probable, it would not he surprising to see prices advance further. EGG TRADE

The Australian, egg trade is concluding in a disappointing manner and cargoes by the last two steamers, Narkunda and Herminius, are unlikely to realise good prices. The mild weather which has prevailed over the greater part of England resulted in heavy supplies of new-lnids in all country markets, and in some places they have been as cheap as 19s per 120. Consequently it has been impossible, to maintain the prices of Australians, esliecially as their reputation has been somewhat smirched by some parcels arriving in an unsatisfactory condition. Recent arrivals show improvements, hut certain lots display all the faults cabled on December 10th.

WOOL TRADE. Discussing the wool outlook Schwartz© Buchanan and Company write: “Tallies of raw material to-day are more in accordance with,the value of the finished article than they have been for a considerable time, so that, with wool on. the present basis, there should he no likelihood of any serious decline.

and, though possibly prices may be affected in the early part of tbe year by the uncertainty of the franc position, there will he a recovery later in the year. The fashion still tends towards fine goods and even the present vogue for stockinette costumes, made of merino or fine cross-bred wool, seems to have displaced the former vogue for coarse knitted goods. Thus the outlook for medium and coarse cross-hreds is not. clear. They look distinctly cheap and certainly they cannot he very remunerabl© to the grower. B>ti 11 there is no sign of any improved demand for these styles though, by their very cheapness, they may attract increased attention arid create new outlets.”