THE FINANCIAL BARO METER

Hokitika Guardian, 29 June 1920, Page 2

THE FINANCIAL BARO METER

A REVIEW. . u-if iVi'-tf'. !>’:•- C' ’• • ■ t:h■ (Receivpd this day af 9.fit) a.JTI.) LONDON, July 28. Though the money market- has beep active with loans for the approaching •nd of the half year, quietness hits heon

the week's feature in both the money and stock market. The main cause has been political, especially the situation in Ireland, and also the uncertainty as regards the final reparation settlement with Germany. A disturbing factor has been tho issued prise of the New South Wales loan. The improvement in soms Confinential exchanges is not viewed

optimistically, being regarded less as a result of domestic and financial improvement, than as a nearer prospect of Ger-

many paying an instalment of the indemnity. A feature of the prevailing financial stringency and slackening of the trade boom, has boon the vast number of cancelled orders, especially in the wool trade, which is discussing the advisability of compiling a black list of < customers who cancel without good reason. Nevertheless, reports from the North and the Midlands of England indicate that current contracts will enable factories to work at the fullest pressure, assisted by a period of remarkable freedom from industrial disputes. The impre s:uu prevails that wages and profits have both about reached the highest water-mark. At the same time the public are spending less freely. A period of private economy appears to have set in sf.ro/igly. Thy pessimistic outlook : n the wool trade continues. The trade

anxiously awaits the opening of the next London series on July 6th. The produce market has been dull for some time. The dullness was more pronounced in the past week, the main cause ing the fluctuation of silver and exchanges, and also a slump in export demands. Prices, with a few exceptions, declined, practically nothing doing, allowing quotations of all descriptions t% be lower. The freight market is very unsettled. Charters are becoming more difficult to obtain. With increasing tonnage, and decreasing demand, homeward freights are tending downwards.