"SANCTIONS WEEK."

Auckland Star, Volume LXVI, Issue 243, 14 October 1935, Page 7

"SANCTIONS WEEK."

Starts and Ends With Rising Prices. LONDON MARKETS. LONDON, October 13. "Sanctions week" ended in London as it began, with rising prices, which the narrowness of the markets tended to exaggerate. The increases embraced the widest range of securities, including Government stocks, industrials, mines, cables and wireless, motors and even railways. Iron, steel, metal, aircraft and armament shares were especially strong. Business, however, continues small. Everyone is asking how sanctions will affect business, but it is generally con-sidered-that few British industries are likely to be hard hit; some may even benefit. Some contracts which foreign countries formerly placed with Italian woollen mills are now being transferred to Yorkshire owing to fears that Italy will be unable to deliver in the stipulated time, and the Bradford market has received numerous inquiries, mostly from South America, for cheap light woollen fabrics, of which Italy supplies large quantities. The most spectacular feature of the commodities market has been the rise of nearly £17 in spot tin since October 4, when hostilities in Abyssinia began. Tho United Kingdom stocks are estimated at 430 tons, the lowest in history. Offerings from the East have been rapidly absorbed by the Continent, where most countries are buying war stocks. Italy also fruitlessly attempted to buy Bolivian and Nigerian shipments. "The Malayan output is affected by labour troubles. If the quotas are increased they are not likely to case the tightness.