ALL GROUND LOST

Gisborne Herald, Volume LXVI, Issue 19979, 3 July 1939, Page 5

ALL GROUND LOST

BRITISH STOCK MARKETS N.Z. BUTTER PRICES RISE WARTIME FRUIT SUPPLY (Reed. Julv 3, 9 a m.) LONDON, July 1. In the light of the grim figures of the Powers’ armament costs, combined with the disturbing political, news, it was not surprising that the markets lost ali the ground they gained during May. Moreover, company profits do not' yet reflect improving trade.

Intensive German and Japanese wool buying in Australia caused prices to harden at Bradford, but there seems little prospect of the totalitarian nations taking normal quantities.

The butter -position is awkward as New Zealand had appreciated owing to short .supplies, while Australian has eased. The market at present is slow. Cheese is quiet at higher values.

The Empire Fruit Council decided to discus the question o:f fruit supplies in wartime with the Food Council, and also agreed to the initiation of a joint scheme to advertise specific fruits in the United Kingdom and to invite the principal foreign countries concerned to participate. It also was decided to hold additional fruit shows in Britain commencing in 1940.

The council was authorised to, initiate discussions with the principal foreign producers in regard to an orderly supply of fruit to Britain, having regard to the preferential treatment of Empire countries.