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“...full state .of their engagements
and to the fact that prices obtained for yarn were extremely satis-
factory. This is explained by the fact that imports during
former years were greatly in excess of the requirements of the
market, the anxiety caused in 1905 by the approach of the Baltic
Fleet having caused spinners and importers to lay in very heavy
stocks. Prices on the whole ruled high during 1906. Few pur-
chases for immediate delivery were made, owing to heavy stocks
being still held by the mills, which practically controlled the market.
Considerable speculation took place in " selling forward " at below
home rates in the hope of eventually covering on a falling home
market. Later during the year the favourable reports received
(211)...”
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“...pean dress the trade in these articles is likely to increase. The manu-
facture of the native article continues to grow, more especially the
cheaper and coarser grades.
Metals. The trade in metals during the year was small compared with 1905.
The heavy stocks held at the beginning of the year kept the market
dull, and it was not till the autumn that prices began to rise.
Machinery. In spinning machinery there was a considerable increase, due
to the increased number of spindles put in by the mills.
Bails and railway materials show large increases, due to the
extension of electric and other railways.
Motors. To the foregoing remarks in the Chamber of Commerce report,
it is desired to add some independent information on the subject
of motors. Motor cars were referred to in the 1905 report, but it
has since come to the knowledge of the writer that quite a growing
industry has sprung up in marine motors. The number of boats
(sea-going) using marine motors of Japanese make is fast increasing...”
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