BRITISH TRADE.

Hokitika Guardian, 23 April 1929, Page 8

BRITISH TRADE.

FRUIT TRADE

WOOL SALES

FORTNIGHTLY REVIEW

DULL PERIOD ON STOCK EXCHANGE.

LONDON, April 21

The* Stock Exhnitgc has cute rot I upon a period of quiescence which is liitely to last until alter the general election, for business always becomes dull at (.‘lection time. The -May J)ay iiolitiay and tile Whitsun holidays will also interrupt business next month, so there is little probability of any activity do.cLping until the elections are nit of the way. Some people were Imping lor a little spurt after the .Budget, but, as a fact, the markets arc quieter than ever, despite the fact that fears of an increase in the Bank rate have passed and that money conditions have boon easy.

Although dullness reigns in all markets, it is satisfactory to note that there have been n:> signs of weakness ni investment stocks, ami prices generally have been well-maintained, though the Budget gave them no encouragement. The industrial market is almost lifeless. I'll ere is no appearance of anything like speculative activity. Tea shares got a little fillip from the abolition of the duty, hut other industrials nave been neglected. Even cables and wireless companies, which recently showed full vigour, relapsed into something like stagnation. Aiany newspapers this week-end have a. column of advertisement on Colonial issues, headed “The sweet security oi live i;or cent.” Regarding investment in the stocks of dominions and colonies, Lite absolute security of capital and (eriainty of income being paid on due dates, with a slightly higher income limn is obtainable on similar stocks at Home, arc points being strongfy emphasised.

The condition of the apple markets, both in Britain and on the Continent •s very satisfactory, and prices being realised are disappointing. The eliiel i-uits.L is. undoubtedly, the heavy supplies of American box apples, which are glutting all markets. Importers are very pessimistic about the course of the markets for another month at least. 1 Alter that time there may be an improvement, as American supplies will he nearing an end. It is satisfactory to* be able to report a firm market for pears, both Australian and New Zealand making good prices, which should i.e maintained, as supplies n" r California are finished and South African arrivals are diminishing.

A Bradford correspondent says: “The outlook for the next Condon wool sales opening on April 80th. is moderately good. .1 see nothing to warrant anyone looking lor higher prices but expect an all-round good demand for both merinos and eross-brods at last sale’s values.”