BRITISH TRADE.

Hokitika Guardian, 22 May 1928, Page 4

BRITISH TRADE.

“““fortnightly review

(United Press Association.—By Electric Telegraph.—Copyright.)

LONDON, May 19.

The Stock Exchange has relapsed into a condition of comparative quietude, a remarkable change from the feverish activity in speculative shares which has prevailed for several weeks. There has been considerable profit-tak-ing, and many speculators have been hit, the fall in tho prices of some gramophones, artificial silks, iron and steel isucs being almost as marked as the rise which immediately preceded it. Alining shares have also participated in the set-back.

WOOL Trade. Discussing the wool outlook

Bradford correspondent writes:— ‘•prices in London show a hardening tendency as the sales proceed, and the hepe of cheaper raw material has receded into the background.- Consequently, spinners have shown more d’i ’position to undertake furfliei operations, the result being that come linns have had a fairly substantial turnover. Although the buying movement lias not become so general as to have any striking effect on quota turns, the position of top-makers Inn been strengthened, and a definite advance scon would not be surprising It i; the opinion in responsible quai tors that wool i.s more likely to In dearer than cheaper later on. 1

FRUIT TRADE. 'The demand for apples continue; satisfactory, but importers find it impossible to realise higher prices, a; supplies continue heavy, arrivals from Australia and New Zealand aggi'cgatiir, nearly 300.000 eases weekly. 'The condition of the fruit, generally, has heei good, but one or two cargoes have arrived in a very advanced state am have consequently been sold at low prices. Bears are meeting with an excellent demand, as Australia and New Zealand have the market practical,ly to themselves and the fruit is fetching high prices. The. continuance of the cold spell on the Continent makes it certain that the early French cherry crop will he small; indeed, our supplies of foreign cherries will he much below the usual, for the Ministry of Agriculture, with the object of preventing the introduction of cherry fly, lias prohibited the importation of foreign cherries from the south of France after June 6th., from central France after June 12th., and from northern France after June 2lst. All Italians are prohibited after June 16th. Thus we shall not have the competition of cheap cherries wherewith our 'markets are usually glutted during June and the first halt of July. The British strawberry crop has been affected to some extent by frost, but a good yield is anticipated.