TRADE REVIEW.

Hokitika Guardian, 27 April 1926, Page 4

TRADE REVIEW.

BIG APPLE SUPPLIES. DAIRY CONTROL CRITICISED. (Australia & N.Z. Cable Association.j LONDON. April 21. The shadow of the coal crisis is still over the Stock Exchange "i'll the result that the business is small, but the markets closed with a slightly more hopeful feeling on the expectation that the Gnvornmeiit’s intervention may lead to a favourable set llciiionl. The reduction of the New York bank rate from, -t to 31 per cent, also had a good effect, as it encouraged the hope of easier money in New York, which would lead to America buying Hritish securities, which would mean an influx of gold here, and in due course ;i reduction of the hank "fate. Gilt-edged stocks remain firm, and it is satisfactory to note that the recent New South Wales loan is at last improving. being now at a 22s fid discount, compared with over 30s a fortnight ago. Wool traders do not expect any great change in values at wool sales, which tire opening on Tuesday. A, good demand is anticipated from the C ontinent. bill. Yorkshire buyers may not be so active. According to liradlord advices, merinos arc generally considered to be in a strong position, and no relief is anticipated in this sclion. .Most quality crossbred tops are cheaper than when the last sales closed. but are tot relatively eheaner than the raw material : consequently it would need n decline at the sales to bring wool into line with liradlord, hut no one is confident about this taking place. The Australian and New Zealand apple trade is still unsatisfactory, as

will have been gathered from prices already cabled. The main reason is the continued competition of American 0 New Towns, which, in the words ol a 0 trade newspaper, undoubtedly show I the best value even against fresh arrivals of Australian and Tasmanian R shipments. 'Tt is unfortunate that e the quality of many of the Australian ■ | and Tasmanian consignments leaves ■ much to he desired. Bitter-pit is prevalent in many varieties, while others ■ are small and immature. There is a 5 good demand for best sorts of West c Australian, South Australian and New t Zealand, lint others are difficult to soil. 5 Retailors are fully aware that supplies will he heavy during the next two r months, the fact that exports from New Zealand and Australia are expeot--1 ed to exceed 3,000.000 eases having 1 been proclaimed hy the newspapers ■’ throughout the country: consequently the retailers are sure they will he able to get all they want, and are therefore f only buying from band to mouth. At I present prices they are able to retail , cooking sorts .it fourpcnce per pound, - and desserts at sixpence. These cheap prices should certainly stimulate public consumption and importers are hoping that the demand will improve. The newspaper, “ Economist.” in a I survey of trade, says: “ If it were not for the shadow of a possible stoppage in the coal industry, the industrial out--1 look would he distinctly promising. Kini ployment is better than it was a year - ago and the seasonal improvement which failed to occur last spring has i already affected in a favourable direc- • tion most indices of trade activity. -Most industries report -greater activity and an increased volume of orders. This improvement is recorded in most of the textile industries, except cotton and in miscellaneous trades, such as pottery, boots and shoes, chemicals, clothing industries, and electrical trades, but in the engineering trade the fear of wages trouble lias begun to 'check the volume of production.” The newspaper, the ‘‘Grocer,” in an article strongly criticises the declared policy of the New Zealand Dairy Produce Control Board. The paper says: “Already the mere knowledge that absolute control is contemplated lias ’

undoubtedly done the New Zealand dairy industry; joonsiderable harm the United Kingdom. It is fairly safe to say that the trade in. England not only believes that the proposed control is inimical to the best interests of the New Zealand dairy industry, hut it is extremely distasteful to English methods of doing business. It is the general opinion that New Zealand butter does not enjoy the same popularit’as in recent years. Tils reasons are not far to seek, and we venture to advise the friends of New Zealand that instead of antagonising the buyers in this country, they should do their utmost possible to retain their goodwill, especially in view of the keen competition of Denmark and other Continental countries, Siberia, Canada and Iceland. which are all striving their utmost to cater for the requirements r the trade without restrictions to interfere in any way with the laws of supply and demand and of free marketing.