TRADE OUTLOOK.

Poverty Bay Herald, Volume XLVII, Issue 15638, 4 October 1921, Page 5

TRADE OUTLOOK.

Discussing the trade outlook on Sep tember 17, the financial editor of the Times wrote :—Trade conditions in England are improving, despite the weakening of European currencies. Considerable progress has been made in the melting of frozen credit, in some cases the reduction amounting to over 30 per cent, of the outstanding amount of May 31. This means the liquidation of stocks in the hands of merchants and. the diminishing of unemployment, as new goods are required to replenish the stores. The steel output is now little below the level of production prior to the coal strike. The production of pig-iron still lags, and as the absence of stocks causes a revival, tho demand will be quickly felt at the works. Gsal is much cheaper. Some branches of lnjdware and cutlery are receiving more orders, though German competition is very keen. There has been an improvement in leather and heavy chemicals, and a remarkable advance in the price of raw cotton, which will bring relief to the holders of heavy stocks. ■ Advances of raw wool prices range from 10 to 25 per cent. Half the sales have been to Continental buyers, chiefly from Germany. Bradford reports a continued advance, and the tops merchants have received more orders than a year ago.

The money position is.very easy at present. this week £45,000,000 of Treasury bills were held at just over 4 per cent, discount, the- lowest figure for a long time past.