BRITISH TRADE.

Hokitika Guardian, 15 March 1928, Page 4

BRITISH TRADE.

fortnightly review. ACTIVITY OX STOCK EXCHANGE. LONDON, .March 10. Business on the Stock Exchange continues satisfactory. There has been much speculative activity in industrials, some at comparatively low prices. •Shares fluctuated as much" as 10s to loin a day, hut it is satisfactory to knov that dealings in some of the leading industrials were not confined merely tt gambling, and that large investors art buying them steadily, having apparent Jy full confidence in the future of thesi concerns. The gilt-edged group hashown remarkable strength. Prices have been firmer for some weeks past. Even the surprise issue of Australia’s iw.nno.ono loan had no effect and tin values of colonials generally have beer well maintained. It might have been expected that the poor public response to the issue would have caused weakness in the colonial group, hut then is no sign of it. Financial writers seem at last to he recognising that the success of an issm> does not depend on heavy public subscription, largely b\ *• stags.” One usually severe critic o' Australian loans coniines his remarks about the present issue to the billowing: ••The market is now quite accustomed to Australian offers being 101 l with underwriters. 'I he new scrip will he absorbed in duo course, although the market has not been given as much breathing space between the issue of Australian loans as would appear to be desirable tinder the circumstances.” WOOL SALES. The opening of flic second series of Wool sales ill London on 1 ue-alav is awaited with the keenest interest. •| 1,,.re if, a coin eusiis of opinion among experts that prices will advance. This is evidently the view of the London hrok -rs, for several of them visited Eradlord this week, seeking set midhand panels to re-offer at the auctions, i.e quantity available, iherciore. » likely to exceed Pin.<oo bales. At .the corresponding sale in 1!>:>;. tbe offerings were ItU.iKf- bales and about 1 Fi.oiip bales were sold. Ibe only element of doubt is the extent, oi the rise, regarding v.hirli various views are expressed. One of the lest informed wool correspondents writes: “Even a fortnight ago a general advance of live pm- cent was forecast for both merinos and cross-bred. The position then was very strong and 1 cannot see that anything has happened since to suggest any change in views, though some arc talking about a par to live per cent advance for merinos. Those contend that it never has boon possible to sell merino tops at prices corresponding with what wool has cost in London and that a definite advance of live per cent will put another full twopence a pound on tops. Whatever the actual movement of values turns out to he. good general competition for all woo! catalogued is well assured. Trade generally is distinctly hotter, consumption being on a larger scale than lor tinpast three years, and the vital thing is that this should continue.