FALL IN TRADE.

Press, Volume LXVI, Issue 19979, 14 July 1930, Page 12

FALL IN TRADE.

WHAT BRITISH FIGURES SHOW. WOOL POSITION CONSIDERED GOOD. 1/RKBS ASBOCU7IO3T—B? tUECTiIO ■ aiLEaajLPH—COPYBIOHT.) (Received July 13th, 5.5 p.m.) LONDON, July 12. The June Board of Trade returns can only be regarded as disquieting, for thoy show a decrease of exports for the firsu six months of the year of £65,000,000, and a decline in imports of £63,000,000, compared with the eame period of 1929. The outstanding feature of the export trade is the heavy fall in the Bale of cotton and woollen goods, of which practically all countries are smaller buyers, especially Germany, France, and the Eastern countries. Another feature is the . reduction in exports, especially luxuries, to Australia. For instance, motor-cars exported thither in June were valued at only £l5O, as compared with £11,700 in June of 1929. Lord Inchcape, speaking at a meeting of the P and O. Banking Corporation, gave what may be accepted as the mam reason for the decline in commodity prices, when he attributed it to a world-wide over-production, particularly of raw and primary materials. He instanced wheat, the supplies of which were estimated at 1,500,000,000 bushels, as compared with 1t455,000,000l t 455,000,000 last year, and the world's visible supply of cotton was 1,200,000 bales higher than last year. He argued that until this surplus of supply over demand is overtaken by the world's consumptive capacity, we cannot expect to see a stabilisation of prices sufficient to restore the confidence which had been disturbed by the severe depreciation that had occurred. The Stock Exchange. With the trade of the country in this unfortunate condition, it is satisfactory that the tone of the Stock Ex-change-is confident, and investment securities show considerable strength, British funds especially ; being in demand, and priceß are tending upward. The rally of. Australian Government stocks has been well maintained, and they are still meeting with good enquiry. . In some quarters the improvement is attributed to the bankers' resolution in favour of Empire freo trade, for the commencement of the rise followed immediately on the publication of that document, but there is no doubt that the better feeling is largely induced by the news of Sir Otto Niemeyer'B visit and the expectation that the discussions with Mr J. H. Scullin (the Prime Minister) will lead to an improvement in the economic and financial situation. Commenting on ' what he calls MrScullinV ruthless Budget, Sir Otto Niemeyer says that 1 other means may be devised to circumvent the great difficulties that face the Commonwealth. The Wool Trade. Discussing the wool position, the "Yorkshire Observer" takes an optimistic view,; and. eays: "Before the Loodonaales cpened, the movement in thebuyera' favourwas< expected. to be much tha&haa Accordingly, the effect of tho Coleman street tept'has been: to create a feeling of greater confidence and to. banish thefear of any marked departure from J values., The opinion is now freely expressed that the..recent depressive influences having had comparatively small effects upon that sensitive instrument, the Coleman, street sale room, its latest record is a, distinct encouragement towards the view that wool is all right and .may be regarded as having been hammered down as far as it is likely to go, "at any rate this season." BRITISH TRADE." THE JUNE. FIGURES. (oarivju* fbbss 4saocimo*—bt zlxot&zc TixsaßirH—corrwoHT.) , LONDON. July It. In the British trade returns for June the principal figures were:— , DECREASES. Imports. £ Grain and flour ... 897,000 Ra«v cotton ... ... 1,466,000 Wool 1,504,000 Eixports. Coal ... ... 550,000 Iron and steel, and the manufactures thereof 681,000 Cotton yarns and manufactures ... ... 2,500,000 Wool and woollen manufactures ... ... 1,331,000 INCREASES. Imports. Wood and timber ... 768,000 Oils and fats ... 1,133,000 Exports. Vehicles 2,28-1,000 MORE ADVERTISING NEEDED. In -connexion with the bi-eentenary celebrations of the birth of Josiah Wedgwood,; a comprehensive exhibition of china and earthenware was held in the Potteries, and in Hanley Park 5000 performers took part in a great Pottery pageant (states a London paper). At s luncheon in connexion with the celebrations Sir Francis Joseph, president of the North Staffs Chamber ofi Commerce,, said: '.'One of the reasons why We are suffering from trade depression, is the fact that we are spending less money on advertising.' To-day, when trade is bad, I think it is up to all of us to advertise not only the excellence of our goods, but the fact that they cannot be beaten."

GENERAL MOTORS (AUSTRALIA).

General Motors (Australia) announce that Sir John Butters has joined the directorate of that company. Sir John's well-known qualifications will be availed of .by General Motors in their policy of using increasing quantities of Australian materials in cars and trucks.

Previous to acting as Chief Commissioner at Canberra for live years, he was chief engineer and general manager of the Tasmanian Hydro-Electric He is now a director of Babcock Wilcox, British General Electric, Royal Insurance Co., and -Associated Newspapers, Ltd. PROPERTY AUCTION. Messrs H. G, Livingston* and Co. sold on Saturday ot public Auction, on account of the District Publio Trustee, as executor of the estate of the late W„ Leeney, the - property situated No. & Southwark street,.comprising section of twelve perohes with cottage of five Tooms i or *BBO to Mr "R, N. Vincent. The other properties submitted failed to xeach UtA reserve*

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