TRADE REVIEW.

Hokitika Guardian, 14 April 1926, Page 1

TRADE REVIEW.

STOCK BUSINESS DULL. OVERSHADOWED BY COAL TROUBLE. LONDON, April 11. The commercial summary of the Stock Exchange is overshadowed by the serious situation in the coal industry, and business in all departments is dull. •'This is particularly noticeable in industrials, especially rubber and tin shares, which have been affected further by the fall in values of those commodities. Gilt-edged prices are mostly steady, but New South Wales script remains at about 2os discount. Several new loans wore expected to make their appearance after Easter, but they have been delayed, apparently owing to the general uncertainty surrounding • the labour and political situation.

The Australian and New Zealand apple season has not opened too well, the demand not being as good as might have been, largely owing to the continued heavy arrivals of American apples, and the marketing of large quantities of American stock, which has been hold in cold store here. These, despite the long storage, arc iu excellent quality and appearance, notably the Newt owns and Winosnps. .Many buyers are giving these preference (over the Dominions’ fruit, as the hitter is not turning out altogether satisfactory. There is considerable bitter nit noticeable in many varieties, notably the Cleopntras and Cox’s, and some fruit is decidedly immature. The American competition scorns likely to continue, as stored stocks in the United States are reported to be heavy. IMMATURE AUSTRALIAN WINE.

Complaints are being made of tlio poor quality of some of the recent arrivals of Australian sweet wines of a. type which, according to one wine merchant, are of such character as to produce such disastrous results, and almost break the heart of every wellwisher to the Australian sweet-wine trade. These inferior wines, which are shipped when too young to stand the lengthy journey between Australia and Hie Motherland, have jeopardised the most promising future of the trading possibilities. A leading firm of importers. writing lo trade newspapers, suggests that the trouble is due to the inpossibility of foreseeing at Iho comiieneement that there would be such a urge demand and stocks of matured vine were so soon exhausted. The firm ulils: “If this business is to be saved, he Commonwealth Government must •efuso the grant of four shillings a in lion bounty on any wines exported, vliieli do not reach the standard qunltv and age.” FROZEN MEAT. Although the trade in frozen, mutton nd beef continues disappointing, there ms boon a .great improvement in the eniaiul for Australian lamb, and, nid<l by a certain amount of speculative liquify, values Jiave appreciated sliarp-

v. Practically Die whole of the remit fall lias been recovered. Tlie deinnd has been chiefly for light-weight escriptions, but other grades have adauced in sympathy. Lamb arrivals mve been small in the Inst few weeks, ml ibis lias enabled values to be laiiituinccl. but there are sufficient imbs stored here to make operators axioms concerning the future. WOOL MARKET FIRM. Discussing the wool situation, a well - nfonlied Bradford correspondent says; ‘ The long-continued stability of wool .id's this season lias been immensely cnelicial to the industry by inducing oiifidem-e. and facilitating the sale of lie fullv manufactured article at rea-

sonablc prices, ft also has conducted to the extended use of wool, while there seems little doubt that the considerable publicity, which in various ways has been given to tlio superiority of British clothes, is at length producing good results in a greater demand for Bradford fabrics.”

A conspicuous feature of tlie trade at the moment is the demand fori ho very finest merino goods. Spinners and manufacturers of the highest-qualfty yarns and cloths are busy in the consumption of merinos on a large scale. Top-makers state that they can readily sell anything front the sixties quality upwards, but oven below tbis there is no weakness. All prognostications about the possibility of a fall in wool bave been falsified, and now Hint tlie New Zealand season is closed, and the end of the Australian is within sight, there is sound confidence that the raw material is on a found foundation.