FINANCE & COMMERCE WOOL INDUSTRY

Dominion, Volume 34, Issue 299, 15 September 1941, Page 3

FINANCE & COMMERCE

WOOL INDUSTRY

Changes In Britain The British woollen mill industry has. had contrasting experiences 'since the war started. For a considerable period turnover was a record, the rapidly expanding British fighting forces being equipped with clothing and temporarily civilian trade was fairly brisk, state Winchcoiubc, Carson, Ltd. \ More latterly Government orders have been much decreased, renewals of uniforms requiring less “rush” work. Rationing has reduced civilian needs to 20 per cent, of average pre-war consumption, and the extension of the war throughout almost the whole of Europe and the Scandinavian countries curtailed export business. In addition the Dominions are not only supplying practically all their own requirements, but are also exporting military and civilian goods to cater for countries more or less adjacent to them. In order to release labour for more urgent work, activity in the mills is being concentrated in fewer establishment. Fears have been expressed that so much male and female labour has gone to other factories that if the Government quickly required goods in large quantities sufficient hands would not be available to cope with the business. Reports indicate adequate stocks of raw material are still on hand in the United Kingdom.

Since the war commenced prices for wool, tbps, noils and wastes were fixed in Great Britain, but figures for yarns and fabrics were not controlled. A Goods and Services Price Control Bill introduced now gives the Board of Trade authority to fix margins of profits on all production and distribution and to fix actual prices. That reform was necessary. Admittedly high taxation would cut deeply into any profits made, but injustice must be felt when some sections are rigidly controlled with prices and the balance have at least a good measure of freedom.

Timaru Lime Co., Ltd. A net profit of £1076 is shown in the accounts of tlic Timaru Lime Company, Ltd., for the year ended August 31. The directors recommend that £650 of this be allocated to payment of a dividend of 5 per cent., leaving £426 to be carried forward. The report states that the company had not yet been able to obtain full benefit of the plant installed'last year. This was caused by war conditions, which made it difficult to retain sufficient experienced staff. Nearly half the regular employees were with the armed forces overseas. The company’s product continued to be popular, and this, with the support of merchants and carriers, had resulted in a satisfactory year’s trading. Gross profit from the trading accounts is shown as £3387. The accounts balance at £14,979. Capel Court Investment ■ The directors of Capel Court Investment Company (Aust.), Ltd., state in a half-yearly report that because pf aj reduction of investments to bring borrowing into line with the limitations imposed on investment companies by the Investment Companies Act of 1938, revenue for six months ended June 30 shows a decline compared with six months ended June 30, 1940. . Stock And Share Indices (By Telegraph.—Press Assn.—Copy right.) LONDON, September 12. “Financial Times” stock and share indices, with previous quotations, are (October 15, 1926, equals 1000)

Gold Mining Returns (By Telegraph—Pi;ess Association.) GREYMOUTH, September 13. The Snowy River dredge returned 231 ounces for 112 hours from 26,000 yards. Raw Materials (By Telegraph.—Press Assn.—Copyright.) (Received September 14, 6.30 p.m.) LONDON, September 12. Friday’s closing prices for the following commodities, with those for the previous week in parentheses, are as follows: — Rubber: Para, not quoted (17d. a lb.); plantation smoked ribbed sheet, ISfd. a lb. (15 3-Bd.). ' , . „ Turpentine: 68/6 a cwt. (nominal). Linseed oil: The price is still fixed at £4l/10/- a ton. ’ .

Dow Jones Averages (By Telegraph.—Press Assn.—Copyright.) NEW YORK, September 11. Dow Jones averages (1926 equals 100) and turnover on the New York Stock Exchange compare as follows

Govt. Home Indussee’s. Rails, trials. '.old mines. ITeb. 4 112.3 43.9 88.5 173.4 Mar. 3 112.3 42.3 85.6 170.5 Apl. 3 113.2 45,2 85.4 ,173.9 Mar. 2 ..... 113.2 45.2 84.3 167.3 June 3 ..... 113.1 45.1 87.4 170.0 July 2 113.8 47.3 88.3 168.5 Aug. 1 ..... 113.5 49.0 93.3 171.8 Sept. 2 ...... 113.6 52.4 96.7 176.2 Sept. 4 ..... 113.7 52.1 96.7 176.1 Sept. 5 .... ? 113.9 52.0 96.6 176.8 Sept. 8 .... 114.2 51.8 96.8 178.2 Sept. 9 .... 114.3 51.7 97.2 179.4 Sept. 11 ... 114.5 52.4 98.1 181.5 Sept. 12 ... 114.5 52.4 98.1 185.0

20 Hail 80 Shares roads. Industrials, sold. Jan. 6 .. .. 28.40 132.83 720,000 Mar. 3 .. .. 27.32 120.88 330,000 Apr. 2 .. .. 28.97 123.47 450,000 May 2 .. .. 28.51 115.72 400,000 June 2 .. .. 27.56 116.18 260,000 J u ly 2 .. .. 28.45 123.58 390,900 Aug. 1 .. .. 30.88 128.22 680,000 Sept. 2 .. .. 30.17 128.31 520.000 Sept. 6 .. .. 29.70 127.26 240.000 Sept. 8 .. .. 29.56 127.pl 620.000 Sept. 10 .. .. 29.04 126.53 .520,000 Sept. 11L. .. 29.32 127.15 690,000