BRITISH TRADE.

Hokitika Guardian, 31 March 1925, Page 1

BRITISH TRADE.

FORTNIGHTLY REVIEW. THE STOCK EXCHANGE. LONDON, March 28. Tlie Stock Exchange remains under a cloud. All markets are suffering from hesitation and uncertainty, and business is on a small scale ill almost every department. According to on authority, this state of affairs i,s mainly due to “adverse monetary conditions and uncertainties attaching to impending Budgets, and qualms of uneasiness regarding the effects of the reiiitroduetion of the gold standard.” Another disquieting clement has been the unexpected issue ot a '£30,000,000 per cent conversion loan, which has sent all British gilt-edged securities down sharply. It- is satisfactory to note that the only stocks to withstand this shock wore the colonial Government group, which remain quite steady. THE TRADING OUTLOOK.

“The trade .situation i.s best described ;|N stagnant,” says the “Economist” in the monthly summary of the state of trade at Home, and abroad. General indications confirm the view that there is no actual setback to t radio. The numbers in rocoipt of |. ■:,]■ law relief are much less than a year ago. AA’ages remain about stationary. and hank advances to industry still are tending to increase. The note circulation is high, and business has been (oinpaiiatively tree from trade disputes. Conditions outside Europe suggest that the present stagnation is only temporary. Australia, India, South America, Canada, and even China all report a greater or less measure of improvement, and the prosperity of these countries must ultimately ' reflect itself in better trade here. arrives. The Australian apple season opens here next week with the marketing ol Hie AlooUan consignment. Importers are decidedly optimistic regarding the outlook, as supplies of American apples have been clearing well, and the demand both here and on the Continent is very strong. American YYincsaps and Cleopatras have been realising up to 17s per ease, and if buyers are willlmg to pay this price for these, which were picked at least five months ago, they should give high prices for the new Australian Jonathans and Cleopatras. Everything:, of course, depends on the condition and quality of the Australian fruit. Provided this is satisfactory, there is every reason to anticipate good prices. Some people already are predicting very high prices for the earlier arrivals, hut the fiest informed men in the trade express the hope that values will not he forced too high at the start. Experience has proved that moderate prices at the beginning of (lie season are best, for if early prices are excessive, consumption is cheeked, and a slump comes when a large quantity of fruit arrives, especially when, as is frequently the case, three or four cargoes come simultaneously. THE MUTTER MARKET. The butter market is experiencing its usaiil seasonal, decline in prices, colonial gradually easing. This is largely due to the lessening demand IVom ('outindital countries, as their production increases. Holland espeeialK I prodtn ing largely. and Germany is taking large quantities thence and less Danish, with the result that l lie latter has declined about 8 S per hundredweight this week, ’i he eon-

sinnptire demand in Great Britain continues good, hut is regarded as hardly sufficient to maintain prices oi colonial at the present level, and a further decline is not unlikely when Continental countries begin shipping butler instead of Inning.