BRITISH TRADE.

Hokitika Guardian, 22 June 1926, Page 2

BRITISH TRADE.

FORTNIGHTLY REAM KAY. STOCK EXCHANGE CONFIDENT. .LONDON, Juno ID. Despite the prolongation of the coal dispute and the absence of any signs of an early settlement, the Stock Exchange maintains a confident feeling and linn nes s characterises most sections. Even home railway stocks whose dividends may be affected, show only small declines in values, and all giltedged .securities are firmer. Notwithstanding the competition of now issues, there have been several trustee stocks issued during the past fortnight and all were rapidly oversubscribed. Their success may be regarded as an indication that there is plenty of money available for investment purposes :.rd prospects, therefore, are hopeful for the Commonwealth loan, which is expected early next week. Nothing is ascertainable regarding the price, but, as the recent New Zealand and Victorian 5 per cent, which, issued sit £9B 10s, now stand at premiums of £2 Is 3d and 12s 6d respectively, the Stock Exchange would not he surprised to see the Commonwealth price at £99. FRUIT TRADE. Considering the heavy arrivals of apples from Australia and New Zealand during the past three weeks, the trade has been fairly, satisfactory. Prices have not given way to the extent somepeople anticipated. This has been largely due to (.old, rainy weather checking the growth of strawberries and other small fruits and to the partial prohibition of importing French cherries. Owing to the prevalence of maggots of the cherry fruit fly. the Ministry of Agriculture forbids the importation of all cherries unaccompanied liy an official certificate that they come from a noil-infected district. Several recent Australian steamers brought a considerable number of wastv apples, which ■are only saleable at low prices, hut good, hard apples continue to meet a satisfactory demand. DAIRY PRODUCE.

A feature of the butter market during the week has been Danish selling at the same price ns Australian end from 2s to 4s below New Zealand. This is one of the effects of the coal strike, and consequent trade depression in the Midlands and North England, which are the principal markets for the Danish production, which is, now verv large. Germany is now taking practically no Danish, so the whole export is sent in Britain. The low price of Danish quickly attracted buyers and much was bought for storage, with the result that the price recovered from. 176 s to 178 s, which is about on n parity with New Zealand. Australian being 172 sto 170 s. AYTNE. 'fhe general strike has had an appreciable effect on our wine imports. Numerous Continental shippers, fearing the strike might last a long time, reduced the amount of their exports to Britain and others stopped shipments altogether, with the result that tno total imports in May from foreign countries were only 983.000 gallons, a decline of 390.000 gallons compared with May, 1925. Australia, on the other hand, showed a satisfactory increase. the month’s imports amounting to 77.995 gallons, as compared with 64,500 last year.