I gather from a delegate of the League Assembly just back from Geneva that there, as elsewhere, the most important happenings were recorded as it were behind the scenes. at private luncheons or dinner parties given by the statesmen of one country to those of another with whom they were seeking to negotiate unofficially. There were also some quite pretty sences and incidents. For instance, on the arrival of the Japanese and Chinese delegations a_ junior member of the former called on the youthful leader of the latter. Mr. Wellington Koo, to greet China" in the name of Japan,' and shake hands over their differences.
Subsequently "young China," as represented by Mr. Koo. met "old Japan." as represented by Baron Hayashi, and they fought several oratorical duels during the session. But this did not prevent them from going to the theatre together. or the Japanese senior delegate from casting his vote in favour of China's election to the Council.
Scorrise Trape OvtLoox.
Scottish industries do not give promise of fulfilling the high hopes entertained during the first six months of 1920. and employers are convinced that it is economically impossible to maintain our iadustrial position under existing conditions. Indeed the rapid change which has come over all Scottish industry is very marked, and the fear is that many of the fruits gained in the past will be lost' in the im-coming year. The early months found the world's markets in a state of famine. and makers with overflowing order books. which kept many of them out of the market for new business, but the passing of time finds the appetite for high priced goods more than satisfied. In the last quarter of the year buyers called a halt, list quotations suddenly broke, and developments went against producers. In point of fact some firms found their reserves and margins of profit swallowed up and an end brought to deferred enterprises which had only just been taken out of the pigeon holes. New Scottish enterprises which have been killed must. represent many millions of pounds.
15 Mittioys Lost to Sarrsvi.pine.
There was an early promise that shipbuilding would show a clear rebut this has beea frustrated by the difficulty la getting the necessary material and by the wide adoption of the "ea' canny'' policy on the part of the workers. Shipowners who competed with one another after the Armistice to obtain an "option" for the building of their boats preferred to pay penalties rather thoo proceed with vessels which under present costs of production would not earn a profit. The cancellations of ships—all placed on "'time cost and percentage'—~are stated to exceed 15 millions sterling.
TaxtiLes aND ENGINEERING.
A glaring collapse has taken place in textiles. particularly in the Borders, where for years they have enjoyed piping times and a remarkable. freedom from unrest. The position in the Border mills is indeed an anxious one, and has not been allayed by the persistency with which London—mercantile houses have taken advantage of delayed delivery to cancel orders.
Locomotive and wagon builders booked heavier orders during the year than in any year of their history, and two years' work is in hand or in sight.
But motor building firms have run into a bad patch, the surfeit of Government surplus motor lorries and other commercial vehicles having dried up a demand which had been calculated to extend for years.
In like manner machine tool making—the true barometer of the trade position—is also finding the demand falling off.
Text read from the printed page and cleaned; old type leaves the occasional error.