BRITISH TRADE.

Hokitika Guardian, 11 April 1928, Page 1

BRITISH TRADE.

FORTNLG HTLY REYIKW. (United Press Association.-—By Electric To legrapli. —Copyright.) LONDON. April 7. The most noticeable feature of the short week on the Stock Exchange has been the remarkable strength of the gilt-edged section, under the combined influence of easy money conditions and the announcement that revenue returns showed a surplus for the financial year of over £4,000,000. All British funds showed an improvement. War Loan live per cent reached £lO3, the highest quotation since 1924, and Colonials have been in good demand at higher prices. RUBBER INDUSTRY.

There has also been a revival of netiviLv in industrials, the only weak spot being rubbers, which slumped on Mr Baldwin’s restriction announcement, prices being marked down heavily, but without much actual selling. The rubber outlook tit the moment is very obscure and. as tlie “Financial 'limes” points out. “the- decision to terminate the restriction is too recent for reasoned views to have been formed.” 'The “Financial Times” continues; “The long view is that when the inevitable initial period of unsettlenicnt lias passed and calmer conditions prevail, the strength of British-owned estates under the new conditions will ho realised and I lie market values will respond. The short view at the moment is that both commodity and share prices will decline, but even this should not be accepted slavishly.” Otto of fho most important Stock Exchange firms specialising in rubber shares mentions the heavy demand on behalf of the United States as a noticeable feature ol the share market, trans-Atlantic interests being prepared to take till shares offered at “sacrifice” prices. 'The same thing occurred in February, when the market weakened after Mr Baldwin s initial announcement, front which the firm deduces that whoever may have lost faith in the I til tire of the licit isi t planting industry it is not the Americans.

The fall in rubber prices is causing motorists to wonder how long it will be before prices of tyres tire reduced. I liquifies made of a number ol leading manufacturers have not resulted in any definite promise of an early reduction, altongh it is admitted that the question must tie considered. The managing director of one tyre company said that no reduction was likely at present, hut he was disposed to look for a jjossible 20 per cent drop in prices towards the end of the year, but not before. WOOLLEN TRADE.

Bradford textile men are expressing dissatisfaction with the way the alteration in the Australian tariff has been rushed through Parliament. A writer in the “Yorkshire Post” say-: “Determined efforts arc being made and much money is being spent to encourage trading within the Empire. and the immense sums which the Australians draw every year from us ill payment for wool atone are regarded as sufficient reason why some official nol ilicntion should have been given us of the intention to alter the duly on certain worsted piece goods to our detriment. A contrast is in-

cvilably made with tin- eonsitleratiou given hy t l)o Canadians. who do not dniw from this district nonidy as milch money as the Australians. The cause of Empire trading is not likely to he promoted hy what the Australians have done. The Australians desire to develop their own domestic wool and textile industry is appreciated in this district, hut in the ease of such wool and textiles as they cannot make themselves and are obliged to import, they might have increased the measure of preference given goods made in this country. That would have hoon more in harmony with schemes for developing trade within the Empire.”