BRITISH TRADE.

Hokitika Guardian, 6 August 1924, Page 3

BRITISH TRADE.

FORTNIGHTLY HEVIEW. THE STOCK EXCHANGES. LONDON. Aug. ‘J. After a period of doubt and uncertainty it rising from the slow progress made by the inlcr-Allied Conference, the Stock Exchange Ims during the past few days taken a more hopeful tone, and although the business done was on a small scale, the gilt-edged market closed yesterday at the highest level of the week, a striking feature being a further improvement in highclass investment securities. This firmness is noteworthy because the holiday season is now at its height. Apparently, the Stock Exchange does not take a serious view of the Irish crisis or tit any rate does not expect that an acute stage will he reached till next session. FOHKIGN EXCHANGE.

The foreign exchange market has been largely dominated l»y tlit? doings of tlio inter-Allicd Conference and the Franeli fruiie fluctuated accordingly. At one time, the rate moved to 88.f)f) on pessimistic reports of the failure to arrive at an understanding on the German loan question, hut the latest news is much more hopeful regarding the prospect of the conference reachinn a successful conclusion and the rate to-day is 81. HO. This rally is at trihuted largely to American buying.

The firmness in the sterling ex change on New York is maintained, and to-day’s rate is a shade over 1.1-. This is largely due to the high money rates ruling here and to the low rates ruling in New York, which i< causing American money to seek employment here. APPLE AIAItKKT. The Australian apple season closed with prices slightly helow those ruling (Inline the first half of -Inly, the easier tendency being due to heavy supplies of Continental stone fruits. Reviewing the appletseason importers generally consider that it turned out much more satisfactorily than appeared likely at the opening, when, thanks chiefly to the poor quality of the fruit, prices were disappointing. Since the middle of May, howwver. prices have steadily improved and every cart'd that has arrived since then has shown a ootid margin ol profit. When it is rememhered that the season’s arrivals from Australia and New Zealand consideralilv exceeded 1,5(111.000 cases, the results must lie re*;ariled as verv good. CANNED KRI'ITS. Australian canned fruits now arriving show a most marked improvement over those shipped in previous seasons and importers express themselves higltlv pleased with the qualify and (tradin'' (if the pears, of which the arrivals mainly consist. The appearance of the tins and labels is attractive, the only fault being in one brand for which excessive paste is used, causing a slight rust and mould which necessitates the tin being wiped before it is saleable. The demand for Australian pears is very good, large quantities being purchased by wholesale grocers who relabel them under their own brand and sell them as ‘So-and-So's famous jieurs,’ without reference to the country of origin. 'I hey are , using Californian [tears in the same way. Prospects for canned fruits appear good, for the Californian pack is short and packers are raising the prices. The present value of standard Australian pears is Ills Wd to Its .’hi per dozen tins, duty paid. Apricots and ponchos arc about 10s a case. PKIKD FRUITS.

Importers continue to complain of the poor quality of Australian currants. One recently arrived parcel from Adelaide, though sold as top grade, turned out very had and the best price obtainable is -10 s, whereas other parcels for which the importer paid a lower price, are realising fills.