LONDON ’CHANGE

Hawke's Bay Tribune, Volume XVII, 21 November 1927, Page 6

LONDON ’CHANGE

PERIOD OF QUIETUDE

GILT-EDGED MARKET FIRM.

BUTTER MARKET CONTINUES TO IMPROVE

(Received 21. 8.10 a.m.) London, November 19.

The Stock Exchange is passing through a period of quietude, most sections of the industrial markets having relumed normal conditions. Business is running in much narrower channels than of late.

The gilt-edged market remains him but business has been restricted by new issue competition. The success of the Kenya Loan, which was somewhat surprising in view of the high price, had a good effect, and Colonials generally have appreciated, the scrip of the recent Victorian Loan reaching five-sixteenths premium and the Kenya eleven-sixteenths. The butter market continues to improve and all quotations are higher. There is a strong demand for colonials from the North of England and Scotland, probably owing to the smaller supplies of Danish, which have been eagerly bought by Continentals. notaoly Germany, which appears to be very short of butter Indeed German buyers purchased a srnai] quantity of the Australian Kangaimj brand in London this week. The outlook appears good, and traders expect present prices to be maintained until about the end of the vear. The quantities afloat from New Zealand. Australia, and the Argentine total 480,000 boxes, compared with •566,000 at this time in 1926. AUSTRALIAN EGGS. The demand for Australian eggs is steadily increasing and supplies are clearing rapidly. The quality of repeat arrivals reaches the highest standard and the Jervis Bay maintained the Commonwealth Line’s reputation by landing its eggs in practically perfect condition. There is somewhat, of a mystery about the retailing of these eggs. Probably most of them are used in restaurants, as they are not visible in anv grocers’ shops or stores ticketed as Australian, but inquiry at one large suburban store elicited the fact that they had Australian eggs for sale at 2Jd each though it was not considered advisable to mark them as such, as that would give their age away. DRIED FRUITS The dried fruit trade recently has been ver-v quiet, buyers having apparently filled all their requirements during the hurst of activity in September and the first half of October. There may be some revival of demand early in December by retailers who find themselves short of stocks for Christmas, and. in this case. Australian sultanas should do well, for there is no improvement in the Quality of Smyrnas, the bulk of the arrivals being of low quality. Australians maintain their price for the finest at from 66s to 755. but medium and lower grades show a slightly easier tendency, ranging from 52s to 60s.— (A. and N.Z.)