FINANCE AND TRADE

Hokitika Guardian, 4 April 1923, Page 1

FINANCE AND TRADE

CONDITIONS IN BRITAIN. STOCK EXCHANGE BUOYANT. LONDON, March 31. The Stock Exchange closed in the most cheerful mood, for. though as is usual in Easter Week, business has not been over brisk, prices have been remarkably well maintained, and the tone of the market is confident. There has been a rush during the last fortnight for new issues of a diversified character w hich have nm-Hy been oversitbsciibed that applicants will only ro--003 in Treasury Bonds, which were all snapped up in two hours, a Jamaican loan of £070,000, which was so heavily snbseiihud that appliants will only receive 10 per cent., and numerous industrial issues, including £3,500,000 worth of shares and debentures in a inui'h-adverti'ed whisky firm; and also drapery, textile, rubber, directories, and train ferries’ .shares, for all of wi.icli there was a great rush of applicants. Ii USE IN VALUES. Gilt-cdgeds continue to appreciate in value. Consols have risen £3 Ids. conversion loan £2 7- Oil, and 5 per. cent. War l.' uu .01 ]ss since tlie beginning ol ihe year, while- Colonial" mostly show c'|iml or more satisfactory advances. Other classm, of shares also continue to improve. The ‘‘Bankers’ Alagazim.'C 1i.,; of 3(>5 representative securities shows an aggregate appreciation during the last three months of £35(1.(.1t)(J.0i;0. of which £201,000.000 is in fixed inU'icst stocks, and £sii.Ooo.ooU in variable dividend ■ocurilies. ADA'ANCE IN WHEAT. The recent advance in wheat prices is attributable to the improvement in the French exchange, which lias enabled French buyers to enter the market. forcing United Kingdom millers to compete for cargoes. Another factor j contributing to the salKfactery sides j of Australian cargoes lias been the j shortage of while wheat. Regarding tlie future, much depends on the prices obtained for Indian wheat. India has had plenteous ami v, ell-di't ri but cd rains, and lies a large exportable simple.-.: 17s Oil is being asked for Alay- ! dune shipments of choice white Karachi, which is equal in price l.n Alniiitoban. while Australian is quilted at 51s (id. All through tin- season sellers of Australian wheat have had must of j ilm market, and prices throughout have j boon above -Is above Manitoban.

TMK AITI.K M A UK'KT. Tlio outlook for the apple trade is somewhat doubtful. in view of the fact that well over 2.000.0!'0 cases are expected from Australia and New Zealand. There me still considerable quantities ol last year's Knqlish crop beino marketed, and French anti Kussian ti) 1 plare pleiitdul, wliile the I'niled States and Nova Scotia are Still s- h i 1.1 > i 11!' la late earqocs. These apples caunct compare ;n quality with Australian C'leoput ms, Jonathans. Minim's, and Cox’s, which oitplit to make amid prices; luit some importers are frankly pessimistie alien! the prospects for inferior Au-dralinn sorts such as Croxcejigs, .Mobbs. C’orllins. Prime Alfreds, and many others. TilK OCT LOOK FOR P.CTTKR The set -Lack in bolter is largely dee to heavy supplies of Danish, of which nearly the whole exportable surplus is now Connie; to Kie.daml. as the ( mi* fluent al demand for it lm pnivt Fully . il. \lnioM all tiled uiopean n'liu-tre-s an r..i, prot nltii;t siiflicieiit to meet thmr own requirements. It is estimated that the Danish production is 12 per rent, above lin'd for the eorrespendintr p<ri' <1 of hist vent’s output ;i min lit i up' t> ahum A 1.(11*11 casks ti Week. Sweileil. uliidi lasi year was htivine Dan'sdi laitier. is now s.hippine to Kimland (iOHO casks a week. Slf'.Kl! IAN I!ITTF.P F.N I’OH l 'i. An ini re-irno feature of the bolter l fade is the possibility of the le--11<111 lion ef Si! eriati exports. Siberia's product i' ll la.-l year was estimated at I.“o.(tCi)>■ V. t which was ehiellv sold ill Kuis.pcnn 1! u-sia. This production is ine (-asint. mil there are pns-ihilitms of the s|,h)!,)ent ( f a smell quant t y to Kurland, tiimn'encine in duly or Annual, and eradenlly incrensin:' iu volume. Siberia's henis e.j d"iry cattle are estimated at about 10 per coni, of these <-f pre-war days. 'life quality of the butler with It is beinre made is net equal to Co pre-war standard, childly ow in;; to the del mioratioii ol niaeliiticry, inn l;u lory-owners are ende i von tine to arrange liunncial as-'ist-anee in order t" £I»“t new Tl"e -i!’I! i> . ami the K. . iet D-vcrumenr is. very keen on t < :i-l :«t in-r the exportation of but ter. osm/yrw«TTM , «jr*