THE TRADE OF BRITAIN.

Taranaki Daily News, 13 September 1926, Page 7

THE TRADE OF BRITAIN.

MORE CONFIDENCE SHOWN. IMPROVEMENT IN BUTTER. PRICE'S OF TIN SOAR HIGH. My T.legr.Bh—Pre.. Assn.—Copyright Received Sept. 12, 5.5 p.m. London, Sept. 11. Tin is providing a sensation in the metal markets, for, after several years’ waiting, the price has passed the £3OO mark, and with the statistical position growing stronger—visible supplies at the end of August representing only about five weeks’ consumption—it is not surprising that the tone of the market is bullish. The rise in the raw material has had the natural consequence of stimulating activity in shares in tin mining companies. There has been a small boom in these, especially in Malayan companies, though many outsiders are joining in. Buyers were so numerous that profittaking sales failed to check the advance in prices. Other sections of the Stock Exchange are also beginning to show signs of improvement as the holiday-makers trickle back, and the growing hopes of a coal settlement have led to some increased activity. There is an undertone of con ■ fidence which promises well for the future. Everybody expects a firm opening at the wool sales on Tuesday, although the quantity available is about 198,000 bales, for it is reported that large German buying orders are on the market. Bradford will also be busy. WOOL POSITION BRIGHTER. A Bradford correspondent writes that there is confidence now that the wool position- is very sound, the general conjecture being that any recession in values is extremely improbable. This, however, implies that one danger to be guarded against is a rapid upward rush for which the penalty would be exacted later. This view appears to be influencing the volume of business in fullymanufactured goods, news from authoritative quarters being that orders for cloth are coming along more freely. The butter market has passed through a period of serious depression recently, but during the past few days more inquiry has been noticeable, and the best informed people in the trade think the bottom has been touched. Undoubtedly one of the chief reasons for the bad trade has been the reduced consumption in the north of England owing to the coal strike, and a resumption of work there would have an immediate effect. But any considerable recoverey in prices seems out x>f the question, in view of the heavy Quantities in cold store and the near approach of the colonial season. DECREASE IN VINE CHOI’S. Although it is too early yet accurately to forecast the prospects of the Euro pean wine crops preliminary reports indicate the probability of poor vintages from France, Spain and Portugual. Accounts received from Bordeaux state that prolonged rain during the early growth of the vines has been followed by mildew and other pests. The yield is hardly likely to exceed half that of 1925. From Burgundy it is reported that mildew is prevalent and the vines very backward. Unless the best weather prevails till the gathering is completed the crop is likely to be very disappointing in quantity. Similar reports come from the Champagne and Saumur districts. A report from Tarragona says that the prospects are far from bright and the crop is likely to be only half of the 1925 yield. The Douro district suffered heavily from thunderstorms and hail, and the vintage will probably be only about one-third of what was expected early in the season. All the Spanish provinces report indi cations of a reduced crop, and the Span ish trade newspapers talk of the existence of a wine crisis. A syndicate of wine exporters in Barcelona has sent a memorial to Primo de Rivera asking for an immediate reform of abuses in the export trade and a bonus to all bona fide exporters on all wines exported. Some years ago fair quantities of Australian bacon came to London, and there were prospects of a good trade being established, but for some reason shipments have ceased. Interest in Australian bacon has been revived by the recent arrival of several hundred sides of Cumberland cuts from Queensland and New South Wales. These greatly pleased the importers, the quality and dressing being alike excellent, as shown by the price realised, namely, 112 s per cwt. One importer says: “I can do with much larger quantities of bacon like this, as it compares very favourably with the Canadian and Danish. I would like regular supplies.”