STOCK MARKETS BRIGHTEN

Hawke's Bay Herald-Tribune, Issue 132, 21 June 1937, Page 7

STOCK MARKETS BRIGHTEN

■Press Assn.-

More Hopeful Qutlook Rt Home DAIRY PRODUCE FIRM

lB.v Telesnranli—

-Copyright.;

(Beceived 21, 8.45 a.in.) LONDON, Jwie 20, Tlie markets at last have begun to show signs of the long-awaited improvempnt and the immediate outlook is viewcd with decidedly more hopefulness. A considerable number of re« .sponsible city busmessmen have taken an even brighter view of the! long-» term trend. They regard the present slump as irrational, due to groundless fears, The stock markets are quiet but erratic, a most notable feature being the sharp turn upwards in rubber at the end of the week. Many dealers believe that the price has touched the bottom. The United Statos consumption figures were regarded as good. ' The metal markets are thin, being dependent on United States developments, but tin has remained remarkably steady. Butter is quiet but sellers are disinclined to take offers. The undertone of the market is firm, though an advance to higlxer levels is likely to be slow and unprofitable. Porduetion in Northern Europe has reached its peak. The margin in price between Danish best and Empire is negligible. Multiple stores have advanced th'fe retail prices, but consumption is always good at this time of the year. Trade ixx fresh fruit fcas contxnued to be good, despite the heavy arrivals, The condition of the apples has been fairly good.° The Imperial Conference has not a£fected the markets. Though stabilisation, in which the city is most interest- . ed, was discussed, th'e conference gave no hope for a lead. Opinion on the desixability of stabilisation is believed to have been divided within as well us odtside the Imperial Conference. Thc Financial Times urges the necessity of there being no further delay in facing the Facific shipping problem in view of President Eoosevelt's request for an appropriation of £30,000,000 to build 95 ships in three years. The delay in implementing the Imperial Shipping Committee's recommendation is due- to tho difficulty of assessing tho pvoportionate interest of Britain and the Dominions concerned.