FALL IN FRIGES

New Zealand Times, Volume XLVI, Issue 10610, 8 June 1920, Page 5

FALL IN FRIGES

REDUCTIONS IN ENGLAND German competitors active By Telegraph— Press Assn.— Copyright Australian and N.Z. Cable Association LONDON. June 5. The Board of Trade has not yet collated the latest prices in the various trades, hut it is stated that undoubtedly substantial reductions are visible in a number of directions owing to the, removal of control, the reintroduction of competition, the deterrent action of the Profiteering Act, and tlib public determination not to purchase nil prices lowered. The refusal by the banks to make further advances is making linns anxious to .unload, stocks accumulated in anticipation of further rises. Drapery, grocery, and boot prices hate declined 5 to' 10 per rent. There is a movement among some pf the large houses to convince manufacturers that their interests coincide, and for the necessity of gradually reducing prices, in order to avoid a crash.

The ‘‘Yorkshire commenting on the decline in. wool, warns hesitant overseas buyers of manufactured goods that Bradford knows how to prevent' a disastrous slump, though at the same time desiring to lower tho level of values. The ‘‘Observer” adds: “They should realise that it is always within the power pf vendors of colonial wool to apply the brake.” Manufacturers admit that German yarnmakers have begun an invasion of_ tho English market, and are undor-sellmg local firms. The Germans used tops combed in France, where the plants are producing sit full speed and cheaply-