Brighter Trade

Hawke's Bay Herald-Tribune, Issue 149, 12 July 1937, Page 5

Brighter Trade

-Press A.Bsn.-

CONFIDENT TQNE AT HOME WqoI Prices Firm: Butter Improves FRUIT SELLS WELL

(By Telegrapb-

— t'Kjpyiight.1

■ I (^Received 12, 11.30 a.xu.) LONDON, July 11. The Prime Minister 's, Mr. Neville Chamberlain *s, optimistic review of the trade posifion and outlook caused the stock markets to fiqish this week with gratifying cheerfulness. The, majority of city businessmen cQns-der that the Chancellor of the Exchequer's, Sir Jphn Simpn's, coniideupe that an eurly sluxnp vrould be impqesible is justified and only a few do not hold this view. Otaers point out that, while a general depression is most improbable, a localis: ed crisis in the heavy industriea will be inevitable when the huge additionak rearmament plant is no ionger needed, unless careful and elaborate plans are made far ahead, The wool saies agaiu emphasised the strength of the raw material. Cambxng merinos are wanted but they are still scarce and some traders expect a definite shortage. Bradford stocks of this, and, indeed, of all types of wools, are low and competition at the saies has been fairly general. A Temporary shortage of butter created an unexpected demand, bul traders do not anticipate any further rapid improvement. Substantial arrivals of Russian butter can npw be expected. Some traders, in commenting on tbe improvement in the consumption of Empire butter, expect that New Zealaud and Danish produce will run closer together than previously. The fruit season is closing with gratifying strength. Such considerable rises at tho end of the season are unknown in the history of the trade. Meat rpmained moderately firm despite a decline in consumption. Arrivals of chilled beef have been unhappily irregular resulting in a glut some weeks and a scarcity in others. Some shipments were in bad condition and considerable quantities were condemned as unfit for consumption. The Japanese Mission and the exeeutive of the Eederation of British Industries discussed restrictions on Japanese goods in Empire markets, the Japanese alleging unfair discrimination in quotas imposed on rayon and eotton textiles. -The British delegates pointed out that the restrictions in some cases were the result of independent action by the Dominion Governments, yet, despite the restiietions, Japanese exports have gencrally continued to grow.