FINANCE AND TRADE.

New Zealand Times, Volume LXXI, Issue 4262, 23 January 1901, Page 6

FINANCE AND TRADE.

The Glasgow correspondent of the “Financial Times” states that as a result of a conference, the proposed Scotch and Nottingham lace combination has been dropped. The Scotch houses could not see their way to accept vho proposals of the Nottingham makers. Some of the Ayrshire manufacturers were holding aloof. Considering the comparatively poor, results which have followed not a tew recent combines, it is not surprising to hear that the cautious Scot has determined to wait a little uefore committing his interests to the nice manufacturers south cf the Tweed. .

It would appear that the consumption ‘of coppex* is increasing, temporarily at all events, out of proportion to production. According to Messrs James Lewis and cns’ monthly report, American shipments of copper to Europe during the month of November, have been on a much reduced scale, the quantity being only 7627 tons, against 12,662 tens for October. It is stated by a leading authority in New York that there is practically no stock on hand, and not enough output to equal the consumption, the production of Lake Superior and Arizona having fallen off, vl’iie that of Montana has not increased. European production also shows a reduction for the same period, "while, on the other hand, the German official returns state that for the first ten months of the year there was an increase in consumption of 15,378 tons over the corresponding period, while in October alone -222 tohs more were constmed than in the «:m© month in. 1899. the increase in the total consumption of Europe being thus. 46,747 tons. Messrs Lewis’s report also contains the announcement that a tender of £1,795,000 Has been accepted for the construe tion of the Pacific cable, to be completed within two years. The length is 8800 miles, and the quantity of copper required for it is estimated at about 4000 tons. In view of the position, it is scarcely surprising that an advance of 17s ,6d per ton has occurred in the price of copper during the month.

The Edinburgh correspondent of the “Financial Times” says that the Scotch whisky trade is again much disturbed by reported difficulties of a Glasgow distillery company. It is said that the suspension which is impending will disclose a very serious state of affairs, and that it will probably take all the assets to satisfy creditors. The company is said to have a large capital, and the preference shares are hold by the public. At Leith great uneasiness is felt, not so much owing to the fears that any of the local firms would bo seriously involved, bub as to the effect on the trade.

A short time since reference was made to the scandal in connection with the filling or loading of Bradford worsted coatings. One of the heads of a leading firm (Sir Theo. Peel) that deals in both worsteds and dress goods, has just made a statement which has excited considerable consternation in many quarters. Ho is reported to have spoken as follows : “His firm was engaged in both trades, and he asked this question because he maintained that the dross trade suffered far more from the weighting of goods than the worsted ccat.ng trade did. All people engaged in the dress goods trade would agree with him that they were entirely shut out of the London market in consequence of the loading of pieces. For this reason it was quite impossible to compete with the French in regard to any goods under Is a yard. His firm had' abandoned all endeavour to compote in that regard.” Tho practice of loading cotton goods in Manchester gave the first opening in the East for the introduction of American and Continental manufactures, and now it seems that the adoption of a similar practice in connection with woollens i; to favour the French manufacturers. XI to special feature in these little trade episodes is that the adulterated, goods are the output of the manufacturers of a freetrade country, and to obtain the pure article buyers have had to go to protectionist

Franco anti tFe United States. Surely there is a. moral in ail this that politicians might utilise wheat tho occasion offers.