BRITISH TRADE REVIEW.

Auckland Star, Volume LIX, Issue 226, 24 September 1928, Page 4

BRITISH TRADE REVIEW.

MONEY POSITION UNCERTAIN. COLONIAL ISSUES STEADY. “INDUSTRIALS” ACTIVE. LONDON, September 22. Stock Exchange markets for the last week have been showing somewhat of a hesitating tendency. Giltedgeds are in a quiet mood, being under the influence of the uncertain monetary situation. The market is hardly likely to improve, while sterling exchange continues to fluctuate around a point at which gold shipments to the United States arc profitable, but though the gilt-edged market is dull prices show no serious downward movement, and a satisfactory feature is that colonial issues aro steady. Industrials have been one section in which activity has been shown ami there is considerable speculative business, particularly in gramophone shares. The monthly review of the Westminster Bank contains a well-balanced article on trade outlook, which records both favourable and unfavourable features of the situation. The writer says the set-back to certain branches of national activity during the past few months has been of significant dimensions, and the outlook for the coming autumn and winter is accordingly less favourable than might have been hoped for six months ago. It would be idle to overlook the presence of retrogressive economic tendencies or deny their share in bringing about the present situation. On the other hand the review takes a somewhat hopeful view of the situation from the fact that there are possibilities of rationalisation receiving more practical consideration in the wide range of industries than at any time since the war. Other reasons for inducing the writer to take a more hopeful outlook are the facts that the world’s harvest of foodstuffs and raw in. erials is on a bountiful scale, and a good feature at Home is the tendency towards a little more co-operation between Capital and Labour in seeking a solution of some of our economic problems. Iron and Stoel Healthy.

The weekly report of the London iron ami steel exchange sounds a pleasantly optimistic note. It says the market is developing a. distinctly healthy tone. The autumn demand has not yet fully matured but prospects are decidedly good as fains can be judged by the increasing volume of inquiry which has been circulated both on Home and export account. 1 hough business in British works has been largely from hand to mouth, there are signs that consumers arc inclined to place forward contracts. Oversea, markets appear to be waking up so the position is brighter than it has been for some time. Weakening in Wool. Commenting on the wool position the “Economist's” Bradford correspondent says: “There are distinct signs of a weakening in the wool position, and there s-’cius to be some prospect of wool being obtainable in the near future on a basis more in keeping with what users can afford to pay. Confidence has been shaken and business in tops and yarns will be erratic until the new level of values has been established. The danger is that the decline may be carried too far, just as tho rise was overdone, and in view of the uncertainty, both spinners and manufacturers will certainly operate witii extreme caution during the next few weeks.” Frozen Rabbits. New season’s Australian frozen rabbits arc beginning to arrive, and reports on the first shipments are very favourable. At present the demand is slow owing to a continuance of summer weather, but as soon as we have a cold spell inquiry will certainly be good, so trade newspapers are advising retailers to buy now and put into cold store. Present prices arc .33/ to 38/ per case of twentyfour rabbits.