BRITISH TRADE.

Hokitika Guardian, 14 May 1925, Page 4

BRITISH TRADE.

FORTNIGHTLY REVIEW. j THE STOCK EXCHANGE. LONDON, May 9. ! Business on the Stock Exchange since

the introduction of the Budget lot i I,ecu disappainting, investment fieeurtt ies Inn ing failed to respond to tlie reduction in the income tax. the effects of which appear to have been more than counter-balanced by fears that a period of dear money will be cx-perieiiec-l a.s the result of the return to the gold standard. Till-: NEW ZEALAND LOAN. The gilt-edged market, litis been depressed by impending new issues, the first of which is tlie New Zealand seven millions loan. This been well re eived. as the terms are regarded as favourable. M' o instalments being extended till August, and Ids intorc-t Icing payable on September 1. As the loan is repayable in 1917. the yield, allowing for redemption, is a shade under PPs per cent. itr bbkr Tin*: bright spot.

'iiv ~t|!v bright -pot upon the Sto 1; r.x- hange lias been rubber shares, l!:o market tor which closed very strangle on a. spectacular advance in I'av material. Few shares were available : meet the keenest demand.'and a good all-round advance is recorded. THE WOOL .MARKET. The ‘‘BeonomietV wool exp.” i oaimenting on the l/indon sales, savtile results must he regarded as quitequal to what anyone could reasonably expect. So far as merinos were concerned. they were better than the conditions in Bradford and l’oubaix would have indicated. Taking all' tilings into consideration, the competition in raw material exceeds general expe tations, and it only needs confidence to see that the general movement will ho accompanied with mure running of machinery. I.ESSDN (>E WOOL SLUMP.

The one outstanding lesson of the -lump, the “Economist’' says. “is that, the world's purse is too limited to support high values lor clothing. Wool is not the scarce article that it lias been made out to he and we are satisfied that with values reasonable a good textile trade can still be done. W believe the current London sales will point in that direction, and hope that they will contribute something towards the stabilisation of values and a real awakening of tlie entire industry.''

DRIED FRUITS. New arrivals of Australian sultanas are meeting with approval, but mi far enlv a few parcels have been sold at (78s. fils and 77s according to quality, as the Australian dried fruit control hoard has insirmted consignees not to cll'er them at present. Brokers who handle large quantities ol Australian dried fruits attribute this a*, lion t-> a desire not t.. sell before the duties are removed on .July 1. ami express strong views: regarding the unwisdom of this eour-e. pointing out. that by -Inly 1, .some three thousand ions,of fruits, are due to arrive from Australia, and tho present, stocks of old limit in l-oml-m amount to 878 toils of currants, 8()7 tons of raisins, and Jt»!IS ions of isultaiia-'. In view of those large .supplies. brokers mushier the wisest plan i- to .-'’ll tin' fruit as quickly a.s possible, without waiting fur the removal of the dutv. hut brokers are apparent-

ly unaware that strong rcprosonlaliniin are being, made to Ihe ( h.-mcclior to r.-au ve t h • del i. s a . early a- possible befuio .Inly I. and if these are sU< * esj ill an I I'll - imports are allowed, say. on June I. the position would be mich |„ iter. TT:e lir-l Australian currant-.' |;e... ariiwed. and these are dc.-eriheri a- far below standard, being very poor and - : bail i olonr.

I‘( tRT WINK STAND MID. Tiie “Mimine I’ostV.” suggestion regarding alt Anglo-l’ortugue.-e wine l rente decs not liml favour m the wine Made, whose loading newspaper says: “Withoaf "idling any harm to licit isi i Umpire interests, the proposal “" ms to a- 1., !,c h tli unpractical ami undesirn |; v. oiiii! i o had for all pa I 1 iee; lie: riled, esj ei i.illv eoli-umi ls if ill** deliiiition attached to port wine li.v Treifties was fundamentally altered. That deliiiition should he allowed !■ stand and the abuse to wliii h ii is Millie: In! by increasing the imporla'ion if |o..e.- -treiiirth wine- should he stopped an | the i I:- hole -t length oi a port ideal lv established. South African port can only lie a type i f purl. 11 would h" iitsi a- ivaisonalile to allow ninrgarj lie to he sold as blitter.” At the lir>l signs of I nilueuza take •NA/.DI. " a simple, sale, speedy and sure s;i"rilie. I’eucirating and "i'l'liilulling! Is Ild for (HI doses. Advl.