BRITISH TRADE.

Hokitika Guardian, 22 March 1922, Page 4

BRITISH TRADE.

- t FORTNIGHTLY REVIEW. >

THE STOCK EXCHANGE

LONDON, March 18. >, Under the Influence of the engineer- j ing lock-out, the political complicar , tions, the Indian unrest, and the j South African disturbance, there has ! been some restriction of business on j the Stock Exchange. A bearish ton- i dency became apparent and British j funds had their first set-back for some ; time, there being numerous profit- i .talcing sales; but the markets gen- . erallv displayed remarkable steadiness, j and, with the crushing of the Rand i rebellion and the announcement that ! a number of the most important mines' ; were resuming work immediately, the tone all round improved consider- j ably. The tendency is helped by the ; general impression that the Budget will reduce the income tax by a shiii ing. FOREIGN EXCHANGES. The recent weakness of the American exchange appears to have been due to the profit-taking by American in vest Hi's, which has ceased. The depreciation of the German mark was a. natural result of the drain of the reparations payments. THE WOOL MARKET. The progress of the wool sales was completely satisfactory, especially in tho way the catalogues are being . cleared. A noteworthy feature is the German demand, which has been wellmaintained. despite the depreciated currency. The German representatives are also inquiring in the English country markets for wool. Reports from the Leipzig Fair state that German wool and textile manufacturers sold on the first do,y nil they could deliver within a reasonable time, and inadequate supplies of wool are. restricting the output of the finished ajrtiole. Considering the enormous quantities of raw material which have gone to Germany in the last twelve months, the probability is. that the shortage refers only to hosiery sorts. Last month over 10.000,0001hs of wool were shipped to Germany from Britain, and during the last four months shipments averaged 24.000 hales. There has been a. great scarcity of fine tops at Bradford owing to the refusal of tho wool combers and operatives to work overtime, which makes it impossible to increase supplies. 1 THE CHEESE TRADE. The outlook for the cheese trade, is very promising. Our consumptive demand for imported cheese is reckoned at about 11.000 tons monthly, hut the March arrivals only amounted to ObOO tons, and only’ 3800 are due in April, which is mainly owing to the shortage of shipping space from New Zealand. Consequently, importers are able to raise prices. The only fear is I that the advance will check the retail demand. fruit supplies. Apple supplies are nearly exhausted. The prospects for' fresh Australian appear excellent. One leading importer thinks that good varieties should realise 20s a case. cr .v- '-.'ri.r’