The principal factors to be considered for the coming season’s 
policy are :(— 
iY 
24] (1) The season opens with a fairly clean start as regards supplies 
1g in the primary markets. 
(2) Stocks are not heavy in consuming centres. 
oo (3) Excepting in England, where the industrial disputes have 
i’ caused depression, there is a good undertone and a general 
confidence in the manufacturing districts of Europe. 
"The ability of France to adjust her finance is a factor that 
will affect seriously the position of merinos and the effect 
of the stabilisation of the franc will have to be carefully 
gauged. 
(5) The great desideratum in the textile trade is a period of 
stable values with a minimum of fluctuation. 
(6) There are evidences of a world-wide call for manufactured 
goods at reasonable values. 
SUMMARY OF TRADE CONDITIONS AND STATISTICS UP TO, 
DECEMBER 31st, 1925. 
UNITED KINGDOM. 
IE year 1925 was most disappointing for the Textile Trade 
and in many respects more serious in its results than any year 
since 1900. 
The following tables illustrate the changes in the Export Trade. 
EXPORTS OF TOPS. 
(MrLLioN LBS.) 
1913. 1923. 1924. 1925. 
Sweden os rt wes 4a i 5-33 3-97 4-90 2-93 
Gevmany = 00 aL a he a GS 5-97 9-81 8-25 
Bolgom: of. de we BET 1-94 2-33 1-63 
Japan Se Ge ad cinta al Gy BaLE 7-16 6-54 5-61 
Canada oie oy ae oe ere rt 2-82 7-50 5-24 4-48 
Others de we Shem oh 1378 5 1Zowe © 12-4 9-14 
Te tal a we 43-63 39-00 41-23 39-04 
ye 
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