FALLING BRITISH PRICES.

New Zealand Herald, Volume LVII, Issue 17491, 8 June 1920, Page 5

FALLING BRITISH PRICES.

RETURN OF COMPETITION. GERMAN YARNS IN ENGLAND. UNDERSELLING LOCAL FIRMS. By Telegraph—Press Association— United Service. LONDON, June 6. The Beard of Trade lias not yet collated the latest prices in various trades, but it states that' undoubtedly substantia) reductions are visible in a number of directions, owinj- to the removal of control reintroducing competition, the deterrent action of the Profiteering Act, and tho publio determination not to purchase until prices have been lowered. The banks' refusal of further advances are making firms anxious to unload stocks accumulated in anticipation of further rises. Drapery, grocery, and boot prices have declined by 5 to 10 per cent. There is a movement among some large houses to convince manufacturers that their interests coincide, and to bring before them the necessity for gradually reducing prices in order to fvoid a. crash- , The Yorkshire Observer, commenting on the decline in wool prices, warns hesitant overseas buyers of manufactured goods that 'Bradford knows riow to prevent a disastrous slump, though at the same time desiring a lower level of prices. The Observer ; adds that they should realise that it is always within the power of the vendors of colonial wool to apply the brake. The manufacturers admit that German yarnmakers have begun tho invasion of the English market and are under-selling local firms. The Germans use lops combed in France, where the plants are producing at full speed cheaply.