BRITISH TRADE.

Hokitika Guardian, 15 April 1925, Page 4

BRITISH TRADE.

FIXAXCF. L'JX BOX, April 11. Since the end of March conditions in the money market have become much easier, and as a result there has been a general improvement cm the Stock exchange, most of the departments showing a decided firmness of tone, though business can hardly he described as brisk. Indeed, S|ceeuhitive operations are almost at a standstill. Tnere is always a natural tendency to slackness as the Paster holidays approach, end the French political crisis has also caused operators to exercise caution. It is a good sign of the underlying strength of the markets that French bonds that might have been expected to give way heavily, have showed only moderate losses, and these have been practically recovered. CITY OF DAXTZIG LOAN. An interesting new notation is the muni ipa.lity of Dnntzig’s loan ; £ 1,51)0.01 !0, hearing interest at the rate of seven per cent and issued at £9O. This is one of the reconstruction loans arranged by the League of . Nations, and the terms proved so j attractive that it was hugely over- t subscribed, the lists being closed half an hour after opening. Large subscribers received only 5 per cent, of their applications. There was, as usual, much s tagging and through dealings opened at a premium of tuo. pro tit-taking sales quickly reduced the premium to seven-eighths. DOMINION BUDGET REVIEWED.

tins. It will bo remembered that last year it was officially stated that the lowest Australian tender was 35 per cent, above the successful Argentine company. This year, so far as can lie gathered officially, the Australian tenders were somewhat about 20 per tent, above San Sinena’s. If this proves to lie the case it is a matter of congratulation that Australia lias received : share of the contract. FRESH FRUIT. The Australian and New Zealand apple and pear trade opened auspiciously. Buyers are generally satisfied with the quality and condition of tlie fruit, though some Surreys, a Victorian pear, were rather overripe and consequent!.' made low* prices. Prospects are regarded as favourable, for with American boxed apples practically cleared, the Dominions will practically have the markets to themselves, and there is a good demand not only in Britain, but on the Continent. Germany, in particular, is buying fruit freely, and has taken so many Spanish oranges lately at prices ranging front As to 10s a ease higher than London, that supplies here are restricted. CANNED FRUITS. Business in canned fruit is quiet, but traders are hopeful that a good demand will arise as tlie summer approaches. If warm weather comes, Australian fruit should do well, as last year’s Californian pack is practically cleared, but the question of price may prove a stumbling block, as Californian packers are offering standard pears at lls Gd a dozen e.i.f., and peaches at Os, while Australian packers are asking Ms for pears and 10s Od for peaches. Everyone in trade here admits the immense improvement in Australian grading in the last year or two, and many packs are now equal to Californian, hut the general opinion is that the prices asked arc too high.