BRITISH TRADE OUTLOOK.

Shannon News, 2 March 1926, Page 1

BRITISH TRADE OUTLOOK.

FROZEN MEAT DEPRESSED. BUT WOOL POSITION IMPROVED. LONDON, Feb. 27. Stock exchange conditions show little change. Business is still on the moderate scale, with a certainlnumber of forced sales, which are apparently an aftermath of the late rubber boom. Gilt-Edged Securities. Gilt-edgeds remain fair and steady, despite some selling, and the success of the recent County Council five per cent, loan is regarded as a good sign. The terms of this loan, wnich was issued under par, were more favourable to investors than has been the case with recent gilt-edged issues, an* this fact is taken by some financial writers as suggesting that still more favourable terms must be offered if big borrowers like New South Wales, shortly float large loans. Chilled Meat at 2Jd. Depression reigns in the frozen and chilled meat trade. Prices of all varieties are declining week by week. The chief cause of the unsatisfactory position is the enormous supplies of Argentine chilled beef, which are arriving haphazard owing to failure of River Plate shippers to arrive at an agreement regarding regulation of shipments. The consequence is that a quantity of Argentine is being marketed here beyond consumptive requirements and forequarters* are selling at 2id per lb. One authority says the excess in the chilled market weekly is equal in weight, at a modest estimate of fully 50,000 sheep and lambs. ' Loss of £4OOO On Australian Lambs. The result is that stocks of mutton and lambs are accumulating, and she downward tendency in prices continues. The seriousness of the position is illustrated by the case of an importer who has just sold 12,000 Australian lambs which have been here since November. Not wishing to incur further storage charges, he disposed of them at a price which showed a loss, on the cost of the parcel, of £4,000. Wool Much Brighter. Describing the wool position, aBradford correspondent writes that a distinctly improved tone has come over the market. Spinners who had been holding back orders for fine tops, to cover business in yarns, have thought it inexpedient to'run the risk of further delay. Consequently during the past few days there has been a considerable turnover in Merino, and fine crossbred tops, and it is stated many spinners now are covered for two months ahead. It is satisfactory to know tops had been bought for definite orders, and speculative operations are hardly being entertained. Extensive inquiry points to more business in the background.

112j000Iiess Unemployed. "The Economists's" review of the state of the trade says that, although since the beginning of the year, the trend of business has been upward, a slight feeling of hesitation was noticable the last week or two. Among most hopeful items is the steady fall in the total unemployed, which now is 112 000 less than at the beginning of the year. Other favourable signs are an increased volume of orders recently secured in heavy iron and steel trades, and the P laci *S of -. c ™" tracts for new ships on the Clyde, which one may hope is the beginning of better times m shipbuilding. A note Of hesitation is, however, sounded in most current reports from industrial centres. Although the volume of business in the coal trade has not fallen off to a great extent, the marS has become easier in the iron and steel trade. Many makers w/1 be well employed for possibly a month aheadTfulftlling orders, but the new demand is appreciably less insistent than three or four weeks ago. Textiles Improve Shipping Stagnant. Cotton, wool and .textile trades are better than a month ago, but increased activity is uneveniy distri b "rhcVe is little pleashurto report -.in -hipping what 3s a normally adtive month having passed without any sign of improvement so far as tramp 1 steamers are concerned.