BRITISH TRADE.

Hokitika Guardian, 19 June 1928, Page 4

BRITISH TRADE.

FORTNIGHTLY REVIEW,

AMERICAN BREAK AFFECTS STOCK EXCHANGE.

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

LONDON, June 16,

The Stock Exchange lias passed through a somewhat, disturbed week, • tlio sharp .break in the American market having had repercussion hero.' Naturally stocks having an international market wero most affected, but the uneasiness- spread to ‘.other- departments, anti many speculative industrials, which have been so prominent of late, suffered severely. Even; giltedged securites-showed some signs of weakness,, but tlie declines were mostly only fractional. v

Describing the position,htlie-\*‘Ecour r>mist” says: “The shake-out will ultimately have a beneficial effect on the health of the markets generally. All the week’s indications suggest an undertone for more stocks that is satisfactory.” APPLE TRADE. 'Phis.week has felt the effects of com; petition with strawberries, the British crop of which is moderately good, though foreign imports-, are much below the average. Strawberries are by no means cheap, the. retail price being about Is per lb., but they always attract buyers, and the demand for apples lias consequently been affected, especially in London, which receives the hulk of the strawberries grown in Hampshire., and Kent. It has, therefore, been difficult to maintain apple prices in London, but better results! have been obtained at Liverpool and Hull. Apple cargoes generally, have arrived in good-condition, though occasionally on the vine side. The quality of some Tasmanians lias not pleased importers, ajul some of them are advising , shippers not to send inferior qualities, which cannot possibly be sold profitably. So far no cases of brown heart have lieon reported, but n parcel of-about 200 boxes of South Australian King Edwards came under suspicion. These apples, externally, looked perfect, but when cut were found rotten throughout. South Australia’s AgenlGencral and Trade Commissioner, after inspecting them, had them condemned, and sent ten oases to tlie Cambridge Research Department for examination. Tlie decision of the Aberdeen Common, wealth Lino to load three steamers for Liverpool direct naturally caused much gratification to the trading community, not only at Liverpool, but in Lancashire generally. Liverpool businessmen point out that there is a population of 20,000,000 around that port, which can effectively bo fed from that centre. They say the time had arrived when, if overseas growers decide to increase their output they will needi to decentralise the markets, and feed the northern populations direct through Liverpool. There is already a good market there for fruit, which is being received in fair supplies from Australia and New Zealand, but direct shipments of dairy products and meat would be welcome. DAIRY PRODUCE. Contrary to expectations, colonial butter prices have hardened somewhat. The explanation given by one of tlie largo importing firms is that buyers had .been lidding off in anticipation of largely-increased supplies from the northern hemisphere. These have not materialised, and this has caused an increased demand for New Zealand and Australian imports, which, in the past month, have been very muck less than for the corresponding period of last year. Tlio firm is inclined to think that - the present consumption is sufficient to absorb Inst month’s supply, so very little, if any, df this butter is being stored, and unless im|X>rts- show considerable increase during July and August stocks for tlio autumn should lie very light indeed.