BRITISH TRADE

Hokitika Guardian, 27 January 1931, Page 3

BRITISH TRADE

fortnightly review

STOCK EXCHANGE MORc CHEERFUL.

LONDON, January 24

Last week the Stock Exchange was lull of depression, uneertaimty and nervousness, but during the last few days there has been a much better tone and all markets dosed last night in cheerful mood though gilt-edged were slightly easier. Jt seem that, at last, the downward movement of Australian stocks has been arrested, for yesterday after publication of the news of a reduction of the basic wage, there was a general rising in prices and considerable inquir ies for stock, which is not surprising considering the high yields which many of these give, especially early maturities.

MINING ISSUES

A feature of the week has been the activity in the mining market. There has been a mild boom in Kaffirs, and some activity in Australians, notably Lake Views which gained two shillings in the week.

Industrials also presented a much firmer appearance than for weeks past the increased dividend or the Imperial Tobacco having had a salutary effect, The improvement on Wall Stret was also a favourable factor.

WOOL WEAVING INDUSTRY

The six hundredth anniversary of the introduction of wool weaving to Great Britain by Edward 111. will he fittingly commemorated by an Imperial Worn Industries Fair, which the Yorkshire “Observer” is organising at Bradford from May Bto May 23. The Prince of Wales gave his support in a letter to the Lord Mayor of Bradford, m which lie expresses the hope that the fair will stimulate the demand for British woollen goods. Many other encouraging messages of support have lieen received, and, as it is intended to make the fair cover the whole l ‘range from the raw material to the finished fabric it is hoped that it will interest many people and have the effect- 1 in the Lord Mayor’s words, of “boosting this great industry of ours.”

EMPIRE BUTTER

The Empire Marketing Board’s effort to increase sales of Empire butter m

Yorkshire and Lancashire have been supplemented by private endeavour. Mr Robert Peake, of Northallerton, wrote recently to the “Yorkshire Post” inviting housewives to explarn why they did not get Empire butter. He received numerous replies arid was exceedingly impressed by the expressions of goodwill towards Empire butter. Thirty per cent of the correspondents found it of excellent- '-quality, 21 n«r cent objected to variations in.qual-

ity mostly attributed to slowness of sale, and 28 per cent said that tradesmen did not stock Empire butter. Mr Peake considers the north every bit- as keen as the south in the matter of supporting the Empire, amt the northern counties offer a wonderful field for an intensive Empire push.

SHIPPING INDUSTRY

flow seriously the trade depression is affecting the shipping industry is shown by the quarterly report ol the Chamber of Shipping o'f Great Britain, which states that the total laid-up ship ping in the world on January 1 was estimated at 8,405,000 gross tons. Of this amount tonnage laid up in British ports consisted of 665 ships amounting to 1,593,000 net tons, representing over 2,500,000 tons gross.

IXDUSTRIA L PROBLEM

Discussing the trade position, the “Economist” says: “The fundamental fact is that the catastrophic fall in commodity prices in the past two years has left behind a whole legacy of problems, which still await solution. In England, indeed in all the more imlustralised nations, the problem resolves itself mainly into one of reconciling selling prices and costs, and all labour disputes find their roots in this issue. Abroad, especially among eounrtiea which are primary producers the problem takes the more pressing form of finding a market for produce at almost any price to supply them, in the agreegate, with sufficient foreign money with which to meet external commitments. This is the pressing problem of Australia, Argentina and Brazil, until they have been solved, it is difficult to see how they can he expected to extend their purchases df foreign goods.”