COMMERCIAL.

Press, Volume LXI, Issue 18428, 8 July 1925, Page 10

COMMERCIAL.

BRITISH TRADE. SUMMARY OF THE - POSITION. DEVELOPMENT OF COLONIAL DEMAND. (bi cable—pbess ASSOCIATION —COPTEIOHT.) CBEUTEfi'S TELEGEAMS.) (Received July 7th, 10.50 p.m.) LONDON, July 6. An interesting summary of the condition of British trade was given bySir Cunliffe Listor in introducing the Board of Trade estimates in the House of Commons. He stated that during the first six months of 1925, the coal and pig iron outputs respectively were 92 per cent, and 67 per cent, of the 1923 figures. The former was steadily falling. Coal exports had diminished 25 per cent. Steel production was unchanged, but was lower in proportion. The shipbuilding and engineering business -was narrowing. The only exceptions to th'e general depression therein ■were motors, which were booming, cycles, and the electrical industry which were comparatively prosperous; Orders for textiles were dwindling. The serious setback in wool emphasised the importance that nobody concerned in the woollen trade should hold up stock lines when trade was bad. Rubber was comparatively a bright spot. The chemical industry was progressing. Shipping freghts were the lowest on record since the war. So long as we were doing a world trade we oould not' be disinterested in the political and economic conditions of other countries. He emphasised the necessity of developing the Dominions and Colonial trade on commercial and political grounds. Tho world production of iron and steel largely exceeded the world's present absorption, and every effort should be made to reach an international agreement. Replying to Mr Llovd George, Sir Cunliffe Lister said we had suffered no kind of injury by reverting to the gold standard. He was of the opinion that the present depression in trade was only temporary. He believed we could get the trade position right, if a voluntary effort were made to buy British goods. Sir Alfred Mond said he thought the Government could partly compensate the serious of' trade in China by. a large "and bold, scheme of development in the Crown Colonies. He was of the opinion that it would be a good invest; ment in that. connexion to spent! £50,00,000 on developing transportation and railways in the carrying out of which the industries mostly needing assistance would be helped.

MUTTON OR WHEAT?, A NATIONAL PROBLEM. . (special to "the pbess.") DTJNEDIN, July 7. One of the head's of the agricultural and paßtoral industry who has his finger on the Dominion's doings generally, -was asked to-day by a "Star" reporter as to whether farmers in Otago and Southland, are preparing this winter to make as large sowings as usual in the coming spring. His answer was significant. "It is rather early to say how much of the.cropping land in southern, districts is too carry grain next season. There is not a great deal of autumn sowing thereabouts, and many farmers are waiting to see what sort of winter and spring is experienced before, deciding on the acreage to be sown. There is an increasing tendency right through the South Island to reduce grain growing and go in more for sheep. Numbers of farmers who are fully alive to their duty in respect to the growing of wheat and oats are compelled to consider their own circumstances, and they are finding that in spite of the protection afforded, it pays better to raise fat lambs and otherwise 'depend on the flocks, than to grow*:grain. To stock properly with suitable sheep costs money, and some cannot afford to' make the change from grain to sheep, but others can see their way to finance such a change, and an .increasing-number are doing it. They are influenced, also, by the consideration that cropping ruins the land and sheep farming improves it. It is a national problem governed largely by the elemental question of what will pay best."

KAYE AND CARTER'S, LTD. There will lie a meeting of creditors of Kayo and Carter, Ltd. (in liquidation), on Wednesday, loth inst. A. motion will bo . submitted to the. meeting confirming the action of the liquidators in arranging for the payment to unsecured creditors of a dividend of 14s in the pound', payable in two instalments of 7s, the first in October and the second next January, in full fleftlemsct of their, claims. CLEARING SALE AT METHVEN. Pyne, Gould, Guinness, Ltd., held a very successful clearing sale on account of Mr Wb. Vietch, -at his farm, Mt. ,;Hutt .road, .-'Methven, on Monday. ' There was a large attendance of farmers and competition was keen, 'anrl a good clearance was effected. • The" following ■ were the principal sales: 25 failing-mouth crossbred ewes 18s, 27 cows at 'from £2 15s to £7 15s, 6 heifers dus and) October £4 5s to £5 15s, 10 heifer calves at 22s 6d, cow in profit £6 17 8 6d, sow and litter £6, sow in pig £J 178 €d, 5 aged horses at from £6 to £2G 10s. In th« implement section a drill sold for £67 and. a cultivator for £2O. •if!p WHEAT. " (Received July 7th, 7.45 p.m.) i . LONDON, July 6. "Wheat cargoes are steady but inactive -owing to the Continental financial position. Parcels are in poor request, at occasionally higher prices. _____ CHICAGO WHEAT MARKET. KE"W YORK, July 6. Chicago wheat quotations are:—July, 143* cents ■*' bushel; September, 141. cents; December, 143J cente. i ■ V* METALS. •<, July Bth - 7 P-™-* , „ „' I*-, . LONDON, July 6. 13s Ed!*--^ o '' £6O 13s 9d; forward, £6l Snef^^ forward, £33 7s 6 o d ; 18 s 9d. £3 * 7s 6d ! forward, £2 J lg fSr Spot ' **». U. 3d; forward, £255 __ DAIRY tCE , : the fol 'Xd July 6tb - * tt L <>adon . office, . dat *L duce --Since our "Dairy * x "r -heese are 2s v*Sj ol ,%»& ' i»*- P riceß iow r Set i» tattSK.tgS -