BRITISH TRADE.

Hokitika Guardian, 3 September 1924, Page 4

BRITISH TRADE.

FORTNIGHT JLY HE VI LAY

THE- STOCK EXCHANGE,

LONDON. August JO.

Business on the stock exchange remains small, hut a- fairly confident tone is maintained, a lit* news of the Reichstag's ae.eptaiKe of the Dawes proposals came tea Lite to have much effect, but lor .several cays past there lias been a general expectation that Germany would accept, and this led to eoitxiilera.lde purchases ol German and Prussian bonds. There has been little change in giltedged seourit.ie.s, though the dearness of money caused a momentary weakness of Biitish funds. The Government-will disburse! about £2t),0i!0,l)0!) in interest next .Monday, so loiidittons should he much easier. The conversion loan (outimies to impiove, ami colonial sio.lcs are firm all round.

THE WOOL .MARKET

It is staled that since tiie close of the last Loudon wool sales liberal purchase-: of Alcrino- have been made at ten per cent advance'cm the prices then ruling, t imiiienting on this, an oxjert, writing in a Bradford newspaper, says it is largely dre to a desire to secure supplies before the season opens in Aii-lialia, and. more particularly, before the next series in London, where it is expected that the olferinp.s will total between 1 -10,1530 and lot),OHO hales. The chief consideration lying behind tiio relent a,lvalue is the depletion of the visible snpilies of wojl in' the West Hiding. It is no exaggeration to say that the majority of the top maker.", have not only suld the limit of their stocks in hand, bill licynnd. They therefore will he dependent upon the wool bought ill l/uulou in Sc| tember, or upon the early arrivals from Australia for the lullilment of their 1 resent commitments. This

applies more to Merinos than to crossbreds, but there are cases in which c ress-hred stip]bie:s are almost exhausted • The writer adds: “It seems certain that the United States will shortly become a much inure important factor in the overseas wool markets, and any oeomiini ■ development following the adoption of the Dawes report must moon a greater demand tor wool. These factors clearly point to the niaiuteiiauc • of value’s on a relativo.v high | lane. Obviously there i annul he the same amount of "o;!| available that there has been in recent years when the c nrrent | roilu«*tion was generously supplemented by accumulations in l’awra’s hands.” (•HI DYING HE HMDS.

Ac; ordiug to a report ol a leading hop-growing firm. TO.I IO acres under hops in England are expected to yield TTQ.l’Oi). Oar annual requirements ore estimated at half a million, and the suggestion is made that in order to iu<luci’ growers to im reuse their in rcago soil'll irmly to s’tpi'ly a k requirements, the Govcrnnieut should he asked to impose a duty of I (IDs per <wt. on American and Gonbinontal hops. 'English growers could then get a remunerative price and would not he* ruined by ioieign hops dumped on the market. The growers point out that when the Defence of the Realm Act. compelled them to grub up half their lmplield.s the act - xigc was 31.T.5T. The cost, ol ro--1 Pacing these hop gardens is at least three-told "hot it was before the war KMIMHE WINK PRODUCTION.

The "ine trade ne" spa pel's are g;vine nun h proiuiiieni-.' to the Empire Kxhi itb'ii. One of them points nut that I, reigim! s visiting WeinMey wei--grcutlv sti 11- Ic I’.v the growth of the Em|'ire "ine 1 1 le. Vistlctfi rty. resenting French. Italian and Spanish ( wine interests admit that the Doniin- , ion- succeeded in first-rate imitations , of the cent uric—old | rcducl.s of lt'ir,ll : 111 x. Burgundy end Oporto. lodav , lli-.-e ' riti's irrtipni".' t*>c nre.-'-mc in t |,.• pinj n e a ln',-1'- . ol t b.- pi iloai \ ,|ii.ilil. o! the best Eiuo|caii nines. 1 lint lie,-hire that- the more delicate ijitalitic - are non-cxist-iit. This is due t„ t.lie fad liiat new lirgiu soil cannot. I j|,!s vie! 1 fruit like the old vine- ' voids which have been fertilised for ( leiitmies. T heretore il "ill he a long time before the Australian vineyards V. 1 1J be able to compete ill quality " ith the produce oi the older vineyards, let tlie ciili.s consider that as the ordinary < onsimu-r never tastes the lest. I'rench wines, the Australian "ine trade is likely to increase in Great: Britain, espe.-ailly as the Australians ( have a cupular system ol advertising.