TRADE AND COMMERCE.

Otago Witness, Issue 3518, 16 August 1921, Page 17

TRADE AND COMMERCE.

SLUMP IX COAL VALUES FEAR HI). LONDON, August 8. The Daily Chronicle’s Cardiff correspondent states that the coal output has outstripped the demand. A heavy slump in values is feared, which would result in the closing of many mines. Last week steam coal fell to £2 per ton, and a fall to £1 10s is impending. Fifty thousand workers are already idle ■as the result of the recent coal strike. It is feared that many thousands will join the unemployed, but it is hoped that the reduction in price will enable the Welsh exporters to recover the (South Vineriean market. SO IT GOODS TRADE. LONDON, August 8. A sensation has been caused in the soft goods trade, Messrs Hylands and Sons,

Ltd., announcing a loss of £1,263,315 for the half-year ended June, owing to the unprecedented fall in values of the stock-in-trade and to losses under heavy contracts, all of which have been cleared or provided for. The company is claiming from the Treasury the repayment of £1,200,945, excess profits duty, which would reduce the actual loss to* £62,370. The directors propose to witnJiaw £250,000 from reserve and to pay a 5 per cent, dividend. IMPORTS AND EXPORTS. LONDON, August 10. The imports decreased bv £82,369,612, the exports by £94,179,505, and the reexports by £8,486,923. The principal decreases in the imports are : Grain and flour, £12,729,515; dutiable food and drink, £7.401,493; wood and timber, £7,790,569; raw- cotton, £5,083,328 ; raw wool, etc. £8,109,523. The decreases in exports included iron and steel manufactures, £11,803,514; cotton yarn manufactures, £29,794,687; woollen worsted va-m manufactures, £10,833,106. Increase in imports : Goal, £4,885,450. AGRICULTUEAL STATISTICS. LONDON, August 10. The Board of Agriculture return for 1920 shows that the farmed area in Eng- ; land and Wales under crop or grass was 26,139,000 acres, being a decrease of 368.C00 acres. The area under wheat was 1,978,000 acres —an increase of 103,000 acres. Barley declined 202,000 acres, and oats 137,000 acres. The live stock figures were: Horses, 1,384,000 —an increase of 18,000. Cattle, 5,515.,000 —a decrease of 31.000. Sheep, 13,805 —an increase of 423,000. Pigs, 2,505,000 —an increase of 511.000. STEEL iAND IRON TRADE. LONDON. August 10. The South Wales Steel Association is reducing the price of steel bars another £1 per ton in order to cope w-ith foreign competition. An unusual sight, is afforded by some of the Scottish railways which arc blocked with miles of coal-laden wagons and emptygoods trucks, the consumers refusing to pav the high prices demanded for coal, which they- contend are treble what the trade can stand for domestic coal. Several of the boycotted ironmasters have refused to operate their blast furnaces, and this has caused a famine in pig-iron. Many miners are again workless. S AVI NGS 0 KRTIFIC ATE S. The British National Savings Committee reports that £45,000,000 worth of certificates were sold in 1920 compared with £79,000,000 worth in 1919. L’he total sales since their inauguration in 1916 amount to £341,000.000, and the total repayments to £61,000,000, including £31,000,000 in 19°^

GOAL EMBARGO LIFTED. SYDNEY, August 8. ! The embargo on the export of coal baa been lifted conditionally on the coalowners giving preference to the wants of interstate and New Zealand industries. GOST OF LIVING. SYDNEY, August 12. Giving evidence at the Board of Trad® i inquiry- into the cost of living, a representative of the Employers’ Federation stated 1 that the price of drapery, Manchester J goods, boots, and groceries had fallen 15 i to 20 per cent, during the past year.