BRITISH TRADE.

Hokitika Guardian, 28 February 1928, Page 4

BRITISH TRADE.

ACTIVITY ()\ STOCK KXCIIAXOK. ; r< LONDON, K,.|,. ‘jr,. ! Hie Stock Fxehange has had an exhilarating week, the outstanding; leatme I ■ i ll <_r. as one financial writer puts it, that “dealings have been most active in what may he described as iht> extremes of the market." High class investment stocks have met with a revival of interest, due in large measure to improved monetary conditions. following on the general a:>preeia lion of the sterling and the Strengthening of the Hank of Kngland reserve. At the other end of the scale oil shares, which had fallen to v °ry low prices, have .attracted much speculation, partly owing to rumours ol the possibility of a termination of the Win- in connection with oil purchases in Russia. In industrials the principal feature* has been the snretacular jump in Courtaulds, hut .there has also been much activity in other industrials, notably gramophones. .Shares in till companies producing these machines are being bought eag- , erly tit advancing prices. On the ' other hand till rubber shares are under a cloud, owing to the slump in the price of that commodity, which brought about selling pressure that was too much for the market and forced prices down all round. Fit FIT TRADE. Notwithstanding the great decrease in exports of apples from the I'niled States ttnd Canada, which tin to date tire only slightly more than one half of the previous season's total, the market for this fruit continues disappointing and prices are far lower than might have been exepetod. Oregon Newtons are only fetching 10s to 15s ' per box, consequently traders tire far from optimistic regarding prices likely to he obtained for Australian and

U ■ j ,\(’W Zealand apples, the first arrivals of which are due here in the last , week in March, especially as, according to the Empire -Marketing Board’s 0 estimates, the supplies of apples and j pears from Australia and New Zealand are likely to exceed 3.500.003 boxes and may possibly exceed tho 1920 record of 3,830,000. DATR Y PRODUCE. The hotter market, at last, is beginning to show signs of improvement. i and tho news cabled from New Zealand j that exports there for the rest of tin season will probably show a .shrinkage of from 12 to 15 per cent Ims had a hardening effect. Thus prices in the near future seem more likely to advance than decline. With reference to the report cabled about the effects of the prohibition of 1 preservatives, the High Commissioner for New Zealand, Sir James Parr, in a long letter to the newspaper “The Grocer,” points out that all New Zealand factories are able to turn out a product, without preservatives, which ( still possesses the well-known keeping properties always associated with the i Dominion's butter. TRADE OUTLOOK.

The “Economist.” in its moidhlv review, again takes a favourable vie-.v of the outlook. The writer says:— “The state of trade has slowly improved since the new year. Those industries which are specially sub-d to seasonal influences, such as the bui'd. ing trade, have been considerably .affected by bad weather, and this Las prevented anything more thru a modest, improvement in the nnemrm.y meat figures, but, despite this. the total figures are moving in the right direction. Tn the cxnorting industries the effect of monetary slability is slowly telling in our favour, putting us on more level terms of competition, but headway is not very rapid, and reports from overseas countries do not suggest verv rapid expansion of trad'. One hopeful factor is the more optimistic outlook- in certain depressed trades. In iron and steel, foreign competition is lessening in intensity, as wages and prices abroad conform to the new monetary equilibrium. At the present moment, too, the threat if labour trouble in Germany fin itself in indirect consequence of the read- J ustment nroccssi is easing the sitna:ion for British steel-makers. The coal i intput has increased, but prices and he demand are still unsatisfactory. lotion, apparently, is slightly better, hough in some quarters there is unertaintv arising from the movement O o lengthen hours and reduce wages, I -hich is regarded as bad for imrned- j ife trade,” 1