BRITISH TRADE.

Hokitika Guardian, 7 February 1924, Page 4

BRITISH TRADE.

FORTNIGHTLY REVIEW. THE STOCK EXCHANGE. LONDON. February 2. The past i',.i might on He- Sue k Exchange has been a ] cried of activity, With rally a hardening of pices' The volume of lnisim-s, pciliai ■ Tie Itoi been quite in ] i iipurt he; with luc sharp upward movement in prices, but tile re call be no doilbl t lull the public hf,\v been buying eagerly, so Hint I,l'c ■'beari.-b’’ tone lhat preceded Mr MiieHoiiald'.s assiiml'i mu oi ullice lias tin ned into a decidedly “bullish'-' one. ki t- dales fi'i.m flu- aillloUei-emeilt o! 1 lie name, of the 1.-icii <'a l *: W . I mil' this li-i-t it may rea-nnably be k-.i-m----ed l lint ihe eonlideliee ol l l:e in’, e- iug piihlic in •Rritisli credit has '-ecu ttill;, re; lined. FOREIGN EXCHANGE*. An outstanding feature of tin* foreign exchange markets lias been the recovery in sterling on New Yolk of nearly ten cenl m a week. Aim Ii <-f the j.ie-eU ‘ support'for tin- sterling is coming from H*.p other side of Hie Atlaniie. while i oil! iiifiii al pi-e.-sure lo buy dollars ba- ; i-uiueK di-apja ai- d. Ti e iiuprovemenl js prellv generally ascribed lo the cessni ion of lb ii isii nun bases ol Ameviean M-aiiifie.- in Nc« Yoik on abateoi Hu- eaplLd levy alarms. It may lie that Ibe pie.smit recovery L only of a temporary nature, but ii is encouraging to remember that in ree. id years sterling has been si mug in Fell Ha i y aml Mulct*. Tbe foreign exchange position gem-r----i is .xiitisfaetory, and xnmei.hiug like stability is icing, na.imaincd in many eiirreneies. which, until recently, allowed violent ihletmiiimis. Bractit-nlly H 1 i-miuiiii-s now appeal to *■ *.* reeogin-Ing 1 i;c u -ie-siiv of prnvidillg hu cm relli expenditure nut of enrmnt l-eeipis. table examples, their raies Inning hint steady lor a year. Even ■ -■*' Geiii.an mark has remained lor s-mn-nun lbs nt a nominal rate ol about lb In Bi billions. The new Re. ian cbevronelz is slowly e-tabli'bing itself, ami now that Brit dll lias recognised the Soviet Guvernisiiiii iis value should improve iurl.tor. i; \ \ K KBS' OFTI.OI )K . Speaking at a m.-elieg of Hie Naie aiv:Vrn“.l s;i 11' ‘■ ti<;n to |,i, veil conditions on the t ontim-ni . but went on Lo Civ that i!n*.v meant I -■! i.ldv coin; ■'titiun u all I) I'.'iiu in emiit’lattire and g'-md-,. be: lie' Rr.'laiii s Huem i'l *im r.-m-i y v.a • L 'n-. "" '- !). jug keenly di -puled. “\Ve find." I - iii> uts for invoices in cur i nevs nllie Uain rferliilg. and denuiui!. for eredilmovenieut ol loiiiiiiHi!---- are i ci "mtt'.g more frequent. di; Hurl".- i n -di-'M i- 'iii billed : 'Ahptepii! ed to meet it. kef, v.v mi; . idy do -i ii tin* national iin.imes an I c.h-;t-nov nr.- in a • .nun! position. Since llie w: r we have done mm b tocaid- a!alii ig tlie pound Sterling in k . old pesilimi suspicion any lunni,.illation ol rnii ion a! linn me.,, i r He nca- men lion of inflation even in irresponsible qua - ieis, him alfeeied our lialioio I , rclik.’’ (iBTIMISTIC I-1 ) i ! Ft AST. Biitish trade on*!, ok i. i .; .-dm d. and an expansion of bu-i.i -s in many d;reottions is eoiiiidenHy c-xju-' led. linvia-t is e I F.-deratinn ... Biitish I lulus! vie-. ..ay-.: point to a marked improv-iiu-nt in tiade d-iriiig the m*vt i-• mm-'p... though it is i ; .... -due t > : red;, t lio-.v far the movement will go niilil inert d -finite info' muti.iii i- u . nikd.L tha'r its fulliimeni is i-mic'itioua! en !b<* ni '.seni-e i f iudusci i:i! di--i tirham-es, dm to strikes or similar onuses. wools. Regarding \,o, I flu* •‘Eennomisl's” Rradion; ooi: ;-*qn:ii(;! -nt wrif.-s: “it is recognised that, even with prevailing high price.-, at the current senes in bonbon. Hint cimtci- is .til! below the pu:ity of i-oloniul n-cHeis. and. similaily, Bradford i ; !..*li.v.- I.eudim polity. l!:c- trade are elnii-m ourinv in pfav for sajeiv. but there i- universal i-oniid-cr.ce in th.e strength of the taw material position, and the general impiessioii appears to be that users ultimately will bo forced to bring their ideas of values more into line with tlie cost of wool. Spinners me fairly well employed. a considerable amount oi bu-i----uess having been booked recently. Tiotb merinos and cross-bred prices to. all ilv- a-i: iious of yarn live'being ath-aiiced. altbougb it i- -dill impos-ibb* to make prices in keeping with today's replacement values. There i. rather more activity in ! n* goods, the demand .showing a distinct expansion, both on home and excrut ac-cc-init. but advances of yarn quotations are retarding the development to some extent.