BRITISH TRADE.

Hokitika Guardian, 31 August 1927, Page 4

BRITISH TRADE.

FORTNIG HTL Y REV IE W. INDUSTRIAL SHARES IN DEMAND. LONDON. Aug. 27. Activity in industrial shares has been a feature of the. Stock Exchange throughout. August and instead of tho stagnation whicli usually marks this holiday month there has been considerable liveliness in almost all departments of the miscellaneous market, with prices higher all round. One of the most active sections has been artificial silk shares, in which there has been experienced what can almost lie described as a boom and this received fresh impetus yesterday, when it was announced that Courtauld’s Ltd, which lias a capital of £20.000.000 had decided to exercise their option to work the Lilienfeld process for manufacturing artificial silks. This is taken as an indication of a further increase in the production of artificial silks, which has already begun to assume important dimensions. The development of this industry will be watched with interest in view of the extent to which nrtfioial silk is coming into competition with ivoot. COAIMOXWEALTH LOAN. Commenting on Australia’s New York loan the newspaper •‘Statist’’ says that ensuing exchange operations should prove a welcome source of strength for the pound sterling during the difficult months lying ahead. “Evidently borrowing in New York is to become a permanent feature of Australian finance. This development should Ix> genuinely welcomed.”

WOOL TRADE. Discussing the wool outlook the Bradford correspondent of the “Economist” says that many close observers of trade conditions predict firm to hardening prices during the next three months, but they do not appear to be too sure as to what will happen later. However, there is. general confidence in the immediate future of values. Top-makers are adopting a

very firm attitude in the discussion of new business. All qualities of tops ■are well ahead of ,late rates, (but it is difficult to induce spinners to pay more money except for the small lots urgently required. Another wool expert writes: “Maintenance of the prices of Australian wool in the near future appears fairly well assured. There does not seem quite the same optimistic tone in France, but a.ll reports from Germany are to the effect that machinery is well employed.. The only immediate indication in the homo trade of anything in the way ot an advance in raw material values is the smallness of stocks. Machinery consumption might be very much better."

DAIRY PRODUCE. Tho butter position appears very sound and the opinion generally held is that prices will harden. A.t present there is not much activity in colonial but the undertone is strong, as there is not much Australian available here and stored stocks of Now Zealand and other sorts are moderate. Additional strength is given to the position by the receipt of advice that large shipments from Australia will not he made till late in October or November. As Continental stocks are lying greatly reduced, largely through German buying. and Argentine supplies sire restricted. owing to drought, there may b# a shortage of butter before the new Australian n.rrives. FRUIT TRADE.

The dried fruit trade lias been show ing an improvement and stocks ot Australian currants and lex ins have boon practically cleared. Sultanas are also meeting with, a better demand, especially for cheaper grades. This is * satisfactory as stocks of the. sort arc plentiful. Oranges have declined materially m value this week owing t<> the abnormal supplies of South African. Further heavy supplies arc expected shortly •mil p-icos are likely to g« lower. So perhaps it is as well that prospective arrivals of Australian, oranges only amount to a few hundred boxes.