TO-DAY’S COMMERCIAL

Sun (Auckland), Volume I, Issue 123, 15 August 1927, Page 13

TO-DAY’S COMMERCIAL

BRITISH TRADE REVIEW

THE WOOL MARKET DIFFICULTIES AT BRADFORD By Cable.—Press Association. —Copyright LONDON, Saturday. Although the holiday season is at its height, there has been considerable activity on the Stock Exchange, particularly in industrials and oils, and also in tea and rubber shares, while textiles have also become quite brisk. Monetary conditions have been somewhat stringent, although the Bank of England has received a substantial amount of gold, and the New York rate of exchange has improved. This tightness of money has caused some hesitation in. the gilt-edged- market, but colonial stocks have been in good demand, especially the latest issues, and it is satisfactory to note that the Commonwealth loan scrip has hardened and is now quoted at only about 3-8 per cent, discount. AMERICA AND METALS In an informative article dealing with the position and future of the non-ferrous metals, the newspaper “Statist'’ says America is the only important industrial country which lias fully recovered from the effects of the war and its aftermath. America consumed 2,022,000 of the 4,322,732 metric tons of copper, lead and zinc produced in the entire world last year, or nearly 47 per cent, of the total, and also consumed over half the world’s tin production. Incidentally, America produced more than half the world’s supply of iron and steel. If this increase in consumption proves to be a natural economic development, similar prosperity may be expected soon in other industrial countries. The enormous increase in general production and consumption in America should be regarded as an indication of a world-wide trend toward higher standards of living. It has been demonstrated in America that the popular wants have expanded to an enormous extent and also that inventions, supported by continuous employment and effort, have made it possible for those wants to be supplied. At the same time the discoveries of new resources of ores and improvements in methods of production during the past few years assure abundant supplies of the non-ferrous metals for generations to come, at costs that will not be excessive. SUBSTITUTE FOR BREAD

Many doctors are now recommending the use of crisp bread, a sort of wholemeal biscuit, instead of ordinary white bread. Many biscuit makers, both at Home and abroad, are devoting attention to this new form of food. It is, therefore, interesting to learn that one of the principal British biscuit firms has been experimenting with Australian wheat in the manufacture of crisp bread. Victorian white wheat was chosen for the first test and users report that it certainly performs a useful function in imparting a good colour and fine flavour to the product. Further tests with other Australian wheats are being made. THE MARKET FOR WOOL Discussing the outlook for wool, the Bradford Chamber of Commerce journal says users are compelled, in view of recent events, to recognise that there is not too much wool in this country to meet the requirements for the remainder of the year. The new wool cannot be expected from Australia in sufficient volume to influence the market until late in November, while New Zealand wool will not be available until early in the New Year. Nobody will sell on the assumption that in the meantime there will be any appreciable change in the position of the wool which is already in this country. Although it is generally agreed that medium and coarse crossbreds are in a rather stronger position than the finer grades, generally speaking, wool is too dear for the Bradford market, and it is very difficult for the owners of machinery to secure orders on a profitable basis for tops, yarns and piece goods. * It is hoped that by the next wool season the position will be adjusted to a more workable basis from Bradford’s point of view.-—A. and N.Z.