Britain as good as has complete official control of its commodity trade. Exports generally are prohibited except by license. Domestic buying is left free only in cotton, rubber and tin. In many vital products, such as metals, cocoa, wool, grain, sugar and tea, the government now is the sole buyer, thus causing serious dislocations in international trade, but also helping ta obtain British supplies. A number of British commodity items have lost their activity basis, and many firms, as a result, may not survive the war.
France has followed the British line of action, and Allied co-opera tion in commodity buying and distribution shows good results for them. Thus far, France has bought heavily in the world markets, including the United States, but, in the future, will depend more on the British Empire, where production is rising steadily.
Bombay Cotton Market Bombay, Apr. 27.
The narrowing of spreads between nears and distants in Bombay cotton prices reflects the growing appreciation of the soundness of spots, as well as the rather less confidence over more distant outlooks.
The Budget was interpreted adversely by cotton interests as a pain riter to taxation ultimately in India, which might meet with leading unloading of new crop Broach.
The old crop is deriving its strength from the manner in which the staple ion position has been cleared up, with the basis hardening, despite the crop movement in the South.
Business in spots was more active, with the basis firm for staple and nonstaples.
There was enquiry from Europe and the Far East, but the inadequacy of freight continues.
The soundness of the statistical position is a sufficient reason for the anticipation of continued steadiness Reuter.
Text read from the printed page and cleaned; old type leaves the occasional error.