BRITISH TRADE.

Hokitika Guardian, 30 October 1924, Page 4

BRITISH TRADE.

FORTNIGHTLY RE VJ EW. THE STOCK EXCHANGE. LONDON, October 25. Contrary to all precedent!), the election campaign has caused no depression or hesitancy on the Stock Exchange, hut on the other hand appears to have had a stimulating effect. Buoyant conditions prevailed till yesterday, when a slight slackening of activity was noticeable. Values of almost till classes of securities have hardened during the past fortnight. This is regariled as an indication that the investing public consider that the election is likely to result in the establishment of a really stable Government. It will he remembered that in December last, the Stock Exchange took an equally optimistic view, but its holies were dashed to the ground. A feature on the Stock Exchange has been the enormous demand for the new German loan, which has risen to 5 per cent premium on the issue price. Another loan in which there have been extensive dealings is Queensland’s last issue, which is now quoted 50s premium. Apparently, tire Stock Exchange has taken Queensland to its heart again, for there is a great rush for the Brisbane trams loan which lias been subscribed about four times over, and quickly established a premium of about 17s fid after opening at 20x.

There seems plenty of money available for good investment issues, for in addition to the South African C8,000,000 loan, all new money, which was underwritten yesterday, several other large loans by English corporations are imminent. '

Some financial newspapers hint that Victoria is contemplating a new issue. DAIRY PRODUCE.

Tht butter market has taken a quieter turn, the higher prices now ruling having made retailers cautious about buying beyond their immediate requirements in view of the big quantities of Australian and New Zealand which will commence to arrive about a month hence. The quality of the new season’s Australian butter gives general satisfaction, and it is very welcome, as best butters are not plentiful. Australian will be assiduously pushed this season. One leading linn has issued a most all-active booklet with photographs, illustrating dairy farms, herds, factories and manufacturing processes with a portrait ol the record butter producer, "Melba X\ ~” as a frontispiece. This is being distributed by t2A.ni)o retailers throughout the country. OUTLOOK BRIGHTER.

Regarding trade conditions in general the newspaper "Economist” says: "While business has not yet shaken oir the effects of the summer seasonal depression so quickly as it did a year ago, the outlook is rather brighter than last, month. A most unfavourable feature is the absence of any sign of improvement in the iron and steel trades, in which conditions are in marked contrast with the other major industries. The sentiment ot the coal trade for instance, is slightly more hopeful, though the increased demand may l-e mostly due to seasonal causes. Textile industries anticipate considerably larger business this winter than last,, the better outlook in the Lancashire cotton trade being the outcome not merely of a satisfactory crop condition in America, but ol a growing inquiry from important consumers at home and abroad. Among the minor industries like boots, shoes, pottery, etc., l!ic general tone is quite good, while the extent of the demand for shipping tonnage in the last lew weeks has come as a surprise, even to those closely concerned in the shipping indus-

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