BRITISH TRADE.

Hokitika Guardian, 21 May 1929, Page 5

BRITISH TRADE.

FORTNIGHTLY REVIEW. QUIET CONDITIONS ON STOCK EXCHANGE. (United Press Association—By Electric Telegraph—Copyright). LONDON, May 18. The week preceding the Whitsuntide holidays, which usually is somewhat quiet- on the Stock Exchange, this year has not proved an exception to the rule. Gilt edgeds have been slightly easier, .owing to the tightness of the money market, the only good section being Colonials, many of which show a slight appreciation in value. To quote one financial editor, “Some buying of -Australian stocks was induced by Ihe result of the Queensland election.” NEW AUSTRALIAN LOAN. It is particularly interesting to note that Commonwealth 5 per cent’s advanced to 98, notwithstanding the announcement of a new issue of £12,000,000. This probably is attributable to the satisfactory news from Australia regarding the success of the local conversion loan, which has been favourably commented upon by many newspapers, and undoubtedly created a good impression here. Subscription lists for the new issue both for cash and conversion, remain open till May 24, and, though no official information is at present available, it is generally expected that a good response will he forthcoming, both from the public and tlie holders of intituling stock. The terms offered are regarded' as favourable, and as the “Economist” says: “Unless holders of Queensland 5.V per cent stock wish to go outside Australia for investment, they will doubtless convert.’’ FRUIT trade: Trade in Australian and New Zealand apples continues brisk, and prices have advanced a shilling or two. This is largely due to the improvement in the quality of the fruit, particularly as regards colouring. Another contributory factor is the decline of supplies of Americans, which, hitherto, seriously affected Australian sales. A feature of the market this season is the strong demand for Ri'ge cooking apples, notably Alfristons, which fetched up to 14s per ce.se. Prospects for the future are regarded goad especially as the Minister of Agriculture, in order to prevent the introduction of the cheddv fruit fly. is again putting restrictions on the importation of French cherries, which, in some previous seasons, seriously affected the sale ef apples. The Imperial Fruit Show will be held at Birmingham at the end of October. This is too late for Australian and New Zealand apples to have any chance of competition, but tiiov will have an opportunity in the canned produce and dried fruits sections. In the former section gold, silver and bronze medals are offered in each of eighteen classes, and in tlie dried fruits similar prizes are offered i n ten classes. There is also a class for oranges, in which Australia might compete.