BRITISH STEEL TRADE

Southland Times, Issue 19389, 1 November 1924, Page 13 (Supplement)

BRITISH STEEL TRADE

A SEVERE DEPRESSION. EFFECT OF CONTINENTAL COMPETITION. (By Telegraph—Press Assn.—Copyright.) (Australian and N.Z. Cable Association). PERTH, October 30. The opinion that trade in British manufactures is very bad at present was expressed by Sir William Mcßeath, one of the Australian delegates to the League of Nations Assembly. Sir William said the remarks applied particularly to the iron and steel and allied trades, in which there was severe depression, many big concerns being closed down. The reason was that British manufacturers were unable to compete with Continental manufacturers. Sir W. Mcßeath said that a great mm,her of shipbuilding orders were going to Holland, whose quotations were much below those of British yards. Few, if any, woollen mills were working more than four days a week, part-time also operating in cotton mills. Quite the reverse report was obtained from distributors, who were enjoying a bright period, for the reason that the huge influx of overseas visitors to England was establishing a moving market, which was making a big demand on retailers’ stocks.