BRITISH TRADE.

Hokitika Guardian, 16 July 1929, Page 6

BRITISH TRADE.

FORTNIGHTLY RE7IEW. DULL PERIOD ON STOCK EXCHANGE. LONDON, July 13. Business on the Stock Exchange is still restricted, and the accounts just concluded are said to he the smallest of the year. However, there are signs oil an improvement, and the relief of the monetary Tension, through tile- recovery of; American exchange, brought about a more cheerful tone. Early this >eek gilt-edged stocks recovered a portion of their recent fall, .but industrials, generally, have remained unresponsible to the better money conditions, although tin mining shares developed some activity, probably due to hopes entertained of the good results following the formation of a producers’ association.

Discussing the situation, a prominent financial writer says:—“The outside public have not yet sufficiently recovered from their recent losses to be ready to take a hand' in speculation again. an,. .enormobs § a^oiM^^of: •ffiohey which avß4l:' ablfttiij* tied ;>UpjaU \‘ .rubbish I, isharesj which, .at present prices, could'’only |b&! -realised';.at- bfiayy loss.uTThe investment! demand'fpr ; industrials bap -continued sub-normal foiy : .a' good jiijmiiiy weeksj andy 'in:-. view off!-political "uncertainties, is likely to remain so .until; something occurs to bring -home jtot potientiftli; investors .<th'&: impr.oyed trade • outlook.. - ..The • .formation of tiie Tin Producers’ Association met with general approval, as it is regarded as likely to have valuable Results, judging from the experience of other industries which have taken similar cooperative action. It is understood that foreign producers, notably Dutch and Bolivian, will be invited to join the association, which, at present, is all British. The tin outlook, generally, is regarded as favourable.. There-has been-, heavy buying'’ especially in America.”,

FRUIT TRADE. ’ The Australian apple season finished, with the marketing of the Port Adelaide’s cargo tliis week,- but there are still about 180,000 cases to arrive from New Zealand, the last cargo not being •due till the first week 1 in August, -..This; would be rather late in an ordinary season, as usually the demand for apples falls off greatly , after the end of June, but this year is not an ordinary one, owing to the comparatively small supplies, and the demand Ifor apples is still so keen that the Port Adelaide’s made about top price for the season. Consequently, importers of New Zealand apples anticipate that cargoes still afloat,will realise satisfactory prices, always provided that t,h< fruit is not over-ripe, which is a possible risk at this late of th season.

Reports from Hamburg brokers describe the market as firm, so, as there will be no more direct shipments to Germany, probably some portion of the New Zealand arrivals will be transhipped to the Continent. It will be remembered that, at the commencement of the season, the Hamburg market was decidedly weak, owing to' heavy supplies of American apples, but since that competition lias ceased very good prices have been realised. German importers are circularising freely, pointing out these good prices and asking for shipments in 1930.

WOOL SALES. Commenting on the wool sales, the correspondent of tbe “Economist” writes:—“Prices declined a little more than was anticipated, but, in view df the adverse conditions reported from France and Germany, no one need be surprised at what has happened. All alike are seeking seriously after a nobuying basis, and ufitil the trade feels that bottom lias been touched there r nn be no improvement. The decline -F " Fm ~v per cent has, to a large extent, been discounted in the consuming centres I’**e Bradford and Roubaix. Wool is still selling at values slightly above what can be made for tops today. "Whether holders of second-hand parcels decide to sell, and accept current values, remains to be seen, but there seems little hope of higher prices even if the wool were held till September. Cross-breds have declined fully as much as was anticipated, and the Hall should bring about free buying.