BRITISH TRADE.

Hokitika Guardian, 15 August 1928, Page 4

BRITISH TRADE.

FORTNIGHTLY REVIEW.

(United Press Association.—By Electric Telegraph.—Copyright.) LONDON, August 11. General holiday slackness is noticeable oil the Stock Exchange, and a revival of activity is not expected before the' end of September. Gilt-edged securities, despite the tendency for less easy monetary conditions, show a firm undertone and Colonials are in good request. The last Commonwealth loan has hardened, as was expected, and is now quoted at one-eighth premium. In these circumstances the market, as one financial paper points out, would welcome new loans, and it is highly probable that several large new gjliedgeds will be floated before the end of the year. In this connection it is interesting to note that there has been great activity in new loan flotations this year. The Midland Bank publishes statistics showing that the new capital issues for the seven months to July 31, excluding British Government loans, amounted to .€244,430,000, compared with £194,588,000 for the corresponding period of 1927, and £158,365,000 in 1926. Of this year’s total roughly £33,000,000 went to foreign countries, £69,000,000 to various parts of the Empire and £140,000,000 for the United Kingdom. WOOLLEN FIBRES. A demonstration has been given in London of a hew machine for the recovery of woollen fibres, the invention of Dr Thompson, of Los Angeles. He claims that it is a vast improvement on the rag-picker now used in the manufacture of shoddy. It produces a superior fibre, called ravel wool, which makes up into a material ol good quality and soft texture, having greater textile strength than shoddy. The unraveller can run with seven and a half horse-power compared with twenty required for the old-rag picker, because there is no grinding of rags.