BRITISH TRADE

Hokitika Guardian, 18 October 1932, Page 6

BRITISH TRADE

DEMAND FOR SECURITIES. STOCK EXCHANGE. (United Press Association—By Electric Telegraph—Copyright.) LONO'DN, October 15. A “gilt-edged week” is how some Stock Exchange members describe the week just past, for the phenomenally successful issue of Treasury Ronds at two per cent, has been, followed by a boom in British funds several of which touched new high records. Money poured into the stock exchange for investment in gilt-edgeds for which the demand now shows signs of slackening and it seems not improbable before long that British funds will be on a basis of a 3 per cent, yield to the investor.

Activity spread to other markets and foreign Government stocks have been in demand. Insurance and banking shares were heavily bought and good class industrials were also in strong request. Altogether the Stock Exchange had the best week for a long time.

Australian stocks have not risen correspondingly with British funds, but they remain firm at the high levels recently "reached, any slight declines being attributable to profit-taking sales. The new Commonwealth ■ 3} per cent. Bonds were in great demand, and have touched 3f per cent, premium on the issue price of £97 10. TEXTILE INDUSTRY.

All- Cyril Underwood, the new president of the Bradford Wool Association, addressing a general meeting, predicted brighter times for the textile industry. He said that for some years he had been very pessimistic, hut he thought from now on that there would be an improvement. He would not prophesy a boom or a period of big profits, hut business was still there for an up-to-date firm, with keen salesmen and those prepared to work hard. WHEAT PRODUCTION.

Discussing wheat, the “Economist” Says: “Although the world’s supplies of the current crop year, can so far oftly be estimated, it is already clear that a permanent substantial rise in wheat prices is highly improbable. It is generally agreed that production will at leUst equal last year’s. Further, although the carry-over outside Russia, at the cud of the past season may have been about, 50,000,000 to 100,000,000 bushels below the figure a year ago, large production stocks are concentrated in the sporting countries generally. Russia’s exports will fall below the level of last season and the crops in the chief Danuhian countries have been a failure. These favourable factors are, however, largely offset by the large crops harvested in the principal European importing countries.” WINE TRADE REVIEW.

According to the “Wine Trade Review” it is abundantly clear that the grape harvest now being gathered will not yield in many places wines of great vintage. Nothing outstanding is promised from the vineyards on the Rhine. The Moselle vineyards in France present more varied conditions, hut the vintage prospects’ are punctuated by doubt and uncertainty.