BRITISH TRADE.

Hokitika Guardian, 23 November 1927, Page 4

BRITISH TRADE.

FORTNIGHTLY' REVIEW

STOCK EXCHANGE REPORTS INACTIVITY. LONDON, Nov. 19. The Stock Exchange is passing through a period of quietude. Alost sections of the industrial market having resumed normal conditions, business is running in much narrower channels than of late. The gilt-edged market remains firm, hut business lias been restricted hy new issue competition. The success of the Kenya loan, which was somewhat surprising in view of its high price, had a good effect and Colonials generally have appreciated, the scrip of the recent Victorian loan reaching five-sixteenths premium and Kenya eleven-sixteenths.

WOOL TRADE. Prospects for the wool sales, opening on Tuesday, are regarded as most satisfactory. There was general talk of a rise of from 5 to 71 per cent in merino prices and of 10 per cent in crossbreds, so it is most surprising that some of the ] frail ford linns, despite all talk about the scarcity of wool there, are sending a considerable number of bales la London for the illations. Apparently they expect that the Continental demand will be so keen that they will be able to make more profit by selling the wool than by converting it into tops for sale m Hradford. A correspondent there writes: “.Many in the trade assert that they discern signs of a distinct turn of the tide. Tfiis is not the first occasion on which optimism has sounded such a hopeful note, but there

seems rather more warrant for it than before. Wool certainly is being used tip at a greater rate titan at this time in 192 G. and there is less in sight. Even if Germany, which is the centre of greatest European activity, slackens off, there is litt'le doubt tliuf the raw material released will find an outlet elsewhere without difficulty. The obvious difference that has arisen between supply and demand, however. seems to be one of impelling motives on the part of buyers of fullymnnul'netured goods to plate orders for larger quantities. Confidence in the soundness of the raw material now being well established, the luture of West Riding trade turns largely upon the outcome of the present wage negotiations, and there is a very favourable prospect of a satisfactory settlement being effected.” HAIRY PRODUCE.

The flutter market continues to improve and all quotations are higher. There was a strong demand for colonial from north England and Scotland, probably owing to the smaller supplies of Danish, which have keen eagerly bought by Continentals, notably Germany, which appears to fie very short of butter. Indeed German buyers purchased a small quantity of Australian Kangaroo brand in I.ondon this week. The outlook appears good and traders expect present prices to he maintained till about the end of the’ year. Quantities alloaf from New Zealand. Australia and Argentina total ISO,fKMI boxes compared with '>08.003 at this time in 192(3. EGG MARKET.

The demand for Australian eggs is steadily increasing and supplies are clearing rapidly. The qualify of recent arrivals reached the highest standard and the .lervis Hay maintained tbCommonwer.Hlt Line's reputation hy landing He eggs in piaitically perfei t condition. There, is somewhat of a mystevv nbr.ut the retailing of these' eggs, Proba.Vy most tor them ere used in the restaurants, as they are not visible in any grocers’ shops or stores ticketed as Australian, but inquire at one large suburban store elicited the fact that they bad Australian eggs for sale at 2.1 d each, though it was not considered tulvis-

able to mark them its such, its Hint would give their age away. DRIED ERL'IT.

The dried fruit trade recently has been very quiet, buyers having apparently filled all their requirements during the hurst of activity in September and ihc first half of October. There may he some revival of the demand early in December by retailers, who find themselves short ol storks for Christmas, and in this ease Australian sultanas should do well, for there is no improvement in the quality of S'niyrnas. the hulk of the arrivals being of low quality. Australians maintain their price for finest. at. from 06s to 70s. but medium

and lower grades show a slig-htjly easier tendency, ranging from 52s to 60s.