COMMERCIAL.

New Zealand Herald, Volume LX, Issue 18317, 6 February 1923, Page 5

COMMERCIAL.

BRITISH TRADE IN INDIA.

India, during the year 1921 and the first part ol IWSS, sulfated a depression, clue not only to the common conditions mat anectea me whole world, out also m laigo part 10 direct causes—tne high ' food prices consequent on the failure of the monsoon in 1920 and also the political activity of Mr. Gandhi. The non-co-operation ' movement, ana particularly the poycott of macuinemade cloth, has had a marked action' in retarding the improvement that would otherWise have been, possioie in the trade in cotton goods. The outlook is now much blighter, and even the large stocks of uncleared piece-goods, mostly due to defaulting traders, have found. marketti, * although it must be said that considerable losses were incurred by British merchants. Once the markets are free from these stocks entirely the trade in cloth goods, it is anticipated, will continue to increase. The action of unprincipled traders in repudiating their contracts did a great deal of harm to Indian trade, and the magnitudo of these actions can be gauged when it is estimated that the repudiated drafts amounted to over £30,000,000- The defaulting traders had a measure of protection in the. congestion of the Indian Courts, which made it impossible to get cases dealt with' unless with a delay of many months and in • some • cases • over ■ a year. Political feeling is now, much easier,many os the non-co-operation leaders are in priso;a ;and the boycott ; movement ;theyinstituted is losing its popularity. ;<>;■■' i _/ ■ ■ ■■ - .'--•.■■'"'" :■,'.' - v ; : :•; PROPERTY SALES. • ' William A. Home,' Ltd., 1 report having' had a successful sale of sections of Mr. Holmes' subdivision at Wiri. last Saturday afternoon. The following sections were sold:—Lot 8 at £105. lot 6 at £105, let 7 at £1.20. lot 11 at £125. lot 14 at £120. lot 16 at £140. lot 18 at £160. lot 31 at £71 10s. lot 32 at £82 10s, lot 83 at £80. lot 34 at £80. -, f ;