BRITISH TRADE BRIGHTER

Sun (Auckland), Volume I, Issue 187, 28 October 1927, Page 12

BRITISH TRADE BRIGHTER

1 MANY FOREIGN ORDERS British Wireless—Press Assn.—Copyright RUGBY, Wednesday. The Federation of British Industries has prepared a careful forecast of the prospects for industry in the next three months. This shows a substantial increase in foreign orders in many trades, and a better general outlook. The recent motor show at Olympia has proved that there is a considerable development in the demand for British motor-cars, and in the motorcycle industry huge orders are reaching Britain from all parts of Europe, as well as from further afield. The manufacture and export of artificial silk products are increasing. Electrical engineering, chemicals, wireless apparatus and exports from Leicester and Nottingham, principally of boot and hosiery machinery, are among the trades showing substantial improvement.—A. and N.Z. PRICE OF GOLD By Cable. —Press Association. — Copyright. LONDON, Wednesday. Gold is quoted to-day at S4s lid an oz. —A. and N.Z.-Sun. PRISON-MADE GOODS DISCUSSION AT GENEVA By Cable. —Press Association. — Copyright. GENEVA, Thursday. j A committee of the Imports and Ex- j ports Conference discussed the exceptions that could be made to the convention. Australia was invited to send a representative. The only question of interest to Australia was that of prison-made goods. The Australian view that the unrestricted entry of such goods would be unfair competition was supported by Britain and the United States. Delegates from several of the European countries said they thought such fear was merely a legend belonging to the past, but as a result of the deliberations it is now thought some provision will be made to exclude such goods from the convention. —A. and N.Z. TALLOW By Cable. —Press Association. — Copyright. LONDON, Wednesday. At the tallow sales to-day 1,000 casks were offered and 503 were sold. Prices were unchanged to an advance to 6d a cwt. Fine mutton, 38s 6d; medium, 35s 6d; fine beef, 40s 9d; medium, 35s 6d. — A. and N.Z.-Sun. CALCUTTA TEA SALES By Cable.—Press Association. — Copyright. CALCUTTA, Thursday. At the Calcutta tea sales to-day the offerings were largely of plain medium tea. The market displayed an easier tone. Clean common broken Pekoe and Souchongs sold at recent rates. For all medium kinds the bidding was more restricted, and prices declined from 3 to 6 pies a lb. Commonest medium and clean fannings were firm, and good liquoring kinds sold well, but tippy teas were slightly lower, while good dusts were in strong demand. The average prices were: Common Pekoe and Souchong, 12 annas 6 pies to 12 annas 9 pies; clean, common, broken Pekoe and Souchong, 13 annas 3 pies to 13 annas 6 pies; even black leaf Pekoe, 13 annas 6 pies to 10 annas.—A. and N.Z. MINING NEWS HAURAKI.—The manager reports:— “The shaft has been sunk 8 feet for the week, making the depth below the 400 feet level 22 feet. Most of the hanging irons are placed in position hanging the sets from the bearers at the chamber. It is expected to make better progress from now on. The country rock is much the same as that where the gold was got in the upper levels, carrying the same fine grained black mineral seams through the rock. There is also what appears to be a cross reef about 2 feet in width composed of quartz stringers and bright minerals striking and dipping toward the No. 7 reef, which is the first one expected to be met with in sinking. The crosscut toward the Hauraki North section has been stopped during the week owing to all the air being required for the shaft sinking, but will be resumed as opportunity allows. The seaward face of the 400 feet level has been extended 4 feet for the -week, leaving 41 feet to reach the estimated junction with the Green Harp reef. The rise on *he same reef at, its junction with the new reef is up 20 feet. The reef is now about 3 feet in width and is getting more solid as we get away from the disturbed junction.” COMPANY ACTIVITIES WAIRAKEI, LIMITED A steady increase in trade was reported by the directors of Wairakei. Ltd., in their report to shareholders at the annual meeting of the company held yesterday.,. Mr. Arthur Cleave, managing director, presided over a large attendance of shareholders. Returns for the period were given as £19,506 against £18,22S for last year. An increase in the number of visitors had necessitated contracts being let for additional accommodation and other improvements. The balance sheet and profit and loss account showed that, making provision for all expenses, and making provision for income tax and depreciation, there was a balance to bring forward to the appropriation account of £2,650. This, added to the amount brought forward from last year, made £5,250 available for distribution. It was proposed to pay a dividend of 7J per cent. This would leave a balance of £2,765 to be carried forward. Messrs. P. E. Cleave and K. Rutherford were elected to the directorate. A vote of thanks was passed to Mr. H. Reimers, who was retiring after three years’ service on the directorate. BRUCE WOOLLEN CO. (From. Our Oxen Coi'responCLent) DUNEDIN, Thursday. In common with many other firms in the woollen manufacturing business, the annual report of the Bruce Woollen Manufacturing Company discloses a loss for the year ended September 19, 1927. The report states that the year has been a particularly trying one and has been one in which considerable reorganisation has been necessary', coinciding with a general depression of trade. The loss on the year’s trading of £1,566 17s lOd was covered, however, by the balance brought forward. All buildings and plant shown in the accounts were considerably under value, and there was no need for further writing down. The capital of the company had been increased by the creation of 50,000 7 per cent, cumulative shares. During the oast five years the com- ! pany’s net profits have shown a substantial decline. wer £2 4,723 in 1923. £13,016 in 1924, £12,289 in 1925, and £9,056 in 1926.