BRITISH TRADE.

Hokitika Guardian, 5 August 1926, Page 4

BRITISH TRADE.

fortnightly review. HOLIDAY TONE ON STOCK EXCHANGE. LONDON, July 31. Idle but steady is the best'description applicable to the Stock Exchange. Tho holiday tone is everywhere apparent, and it says much for the inherent strength ot tho stock markets that prices should reran in firm as they have done during this period of stagnation .especially as there are still no definite indications of a solution of the coal deadlock, and flio French financial crisis remains acute. Gilt-edgcds are especially firm, la feature being the steady absorption of recent issues, with tho result that the scrip of tho last Victorian loan is now at a. half per cent premium, and Australian Commonwealth oufly stands at three-six-teenths discount. This has caused some folk of further gilt-edged flotations ero lopg. WOOL MARKET.

Commenting on tho wool position, a well-informed Bradford correspondent says: '•The London action has revealed that raw material occupies a remarkably strong position, midst conditions well calculated to disclose weakness or lack of confidence. It would he difficult to find a parallel for this. The wool consumption fn Yorkshire has been retarded by the coal shortage and the general effects of the mining dispute, while the financial crisis in France has reduced competition by one of the most important consumers. The adverse financial factors have also impeded Belgian operations. Notwithstanding these disturbing elements, the closing values showed little change. A result has been to create a. good undertone at Bradford, and to confirm the opinion that once the coal trouble is settled there wit! he a. definite movement of business in the right direction.”

Another Bradford correspondent writes: “The.-London sales encouraged topmakers here to maintain quotations firmly for all qualities, hut spinners and manufacturers did not respond to the suggestions of higher prices for cither tops or yarns. There has been no improvement in any of tho consuming departments in the local worsted industry except by the botany spinners, and until the outlook generally is more encouraging they arc* determined to openito in a retail manner. New business is quieter than ever. The August holidays wil further curtail consumption, and users of tops and yarns arc content to wait and see what developments take place.” APPLE SEASON ENDS.

The apple season concluded with the sale of the Ilarra.hool’s cargo pnd practically -nothing is now left in liiest hands. The last few sales showed a keen demand for any good keeping sorts, notably Stunners, which realised 12s to 15s, but unfortunately most of the other sorts of apples ex recent steamers have been on tho ripe side, and lit Pc of them realised above nine shillings. As already cabled the season. has been tho most disastrous on record. Many importers consider that even without a combination of adverse circumstances it would not have been possible to obtain satisfactory prices for the lingo quantify shipped from Australia and New Zealand, amounting to ovter ft,750,00P cases. Under normal conditions, judging from previous experience, it would have been difficult to handle this enormous number of apples remuneratively. One largo importer says Australian growers would be well advised to reduce theii shipments, especially ot the lower qualities and or the soft vnirjefics Into in the season. They should concentrate more on the better sorts. The freight is the same whether the fruit, fetches (is or 16s a box. Among the desirable varieties is tho Granny Smith, which is becoming increasingly popular every year and realised the- highest prices this season. BUTTER MARKET SiTBADV. The butter market is •steady, with prices all round .nightly harder. This usual seasonal movement is due to Continental supplies having passed the flush period, and the firmness is expected to continue as those supplies diminish. In connection with Continental butter it is interesting to note that the anticipated expansion of Siberian. supplies Lis not been realised, but, on the contrary. the twelve meCitlis’ imports to June 30 show a reduction of 22 per cent, compared with the previous year, being 1-1,148 tons as against 18,483 tons. As Siberian butter is a, strong competitor with the lower grades of Australian, this reduction is important.