BRITISH TRADE

Hokitika Guardian, 24 June 1927, Page 4

BRITISH TRADE

EORTXIGIUi LY REVIEW. AUSTRALIAN PROPOSALS. LONDON, '.June is. The news that tiie State Premiers’ conference had accepted Mr Bruce’s proposals regarding Commonwealth I and Stale financial relations lias given Trent .satisfaction in city circles, espociI ally among people interested in Aus-

tralian loans. So far there lias been little Press comment, but what there has been is decidedly favourable. For instance, tiie “Daily Telegraph,” writing before acceptance was known, says: “ There can lie no gainsaying the hold character of the proposals, and if anything like them is carried into effect the result, so far as Australia’s credit in London is concerned, will undoubtedly he beneficial and will assist tiie Federal and State Governments in their financial operations here.” STOCK EXCHANGE QUIET.

Business on tiie Stock Exchange has been disappointing, and though there is no serious weakness apparent most of the markets are in an unsettled state. The causes are not far to seek. They hare been specified by one financial expert, who writes: “The quarrel’ between Jugo Slnvia and Albania, a fresh outbreak of terrorism in Soviet Russia and tiie strained relations between Poland and Russia have disturbed tiie conditions of the Berlin Bourse, to say nothing of monetary uncertainty here occasioned by French demands for - gold. All combine to make the outlook at the moment unusually obscure, while anxiety regarding the coal industry at Home is again occasioning dullness in English railway stock, in this condition of affairs it is hardly surprising that we have had no news of tiie Commonwealth loan which had been expected for some time. Tiie idea now prevnii’s that it is not likely to come until monetary conditions are easier after the big interest payments on July I.”

WOOL TRADE. Tiie wool market is firm and since Hie last auctions there has been considerable business done at prices which seem to indicate that there is no likelihood of any drop in values for some time to come. The wool correspondent of tiie “Economist” says: “There is proof of the existence of a hunger for wool in the fact that it has lieen suggested the next London auctions should be held earlier than July oth.. the date originally fixed.” He ladds: “Prices at these auctions are destined to be at least slightly higher than those of May and a forcing influence will probably come from Continental com petition. FRUIT TRADE. Apple prices continued satisfaetuy and the season now drawing to a close appears likely to show very .satisfactory results. American apples continue to arrive, but the market can absorb ail that come for our soft fruit season lias been a poor one. Strawberries. usually cheap and plentiful ’by mid-June, are very scarce and are not obtainable even from costermongers’ barrows, under one shilling per pound, instead of the usual price of sixpence. Cherries and other small fruits are also scarce and dear. The competition of American apples lias been less acute than in some previous years, but, still, the imports have been considerable. Some Corent Garden importers are. therefore, considering

whether il would he possible to induce the Government to prohibit, the sale and importation of Americans during ■April. .May and June. They punt out that the whole American crop is fathered in by October, and that large quantiles are placed in cold store in order to supply Biitain for'practically the whole year. [1 is suggested that it would not he a. great hardship if the Americans were, compelled to market from July to March, leaving Empire fruits a clear market during April. .May and June. The proposers (f this plan recognise that it may he difficultfor the Government to enforce prohibition, hut representations in that connection are being made to the. Empire Marketing Board. EGG TRADE. As far as can he seen present prospects of the Australian and New Zealand egg trade seem favourable. Ttis reported that: the quantity of eggs stored for winter consumption is smaller than last: year, n.s storing then proved unprofitable, with the result, that- producers have been selling more freely. Importers are anxious to impress upon shippers the necessity for paying greater attention to packing, as last year there were several instances of .serious loss through the fillers not being stout enough. Importers also recommend that shippers should not send egg- weighing less than 151 b. per 120.