BRITISH TRADE

Hokitika Guardian, 25 January 1933, Page 3

BRITISH TRADE

STOCK EXCHANGE

TENDENCIES IN LONDON

LONDON, January 21

Th e Stock Exchange conditions last week are beat described as stagnant, for though there has- been no serious decline in prices in any section, .)jusinee; lias fallen to very small dimensions, except for Smith African minjiig shares, in which dealings have been active under the stimulus of the decline, in the sterling value of South African currency.

Gilt-edged stocks have beep dull, with a slightly easier teudency in Britid funds, but Australian and N t .w Zealand stocks continue to harden steadily.

Industrials, which started in the New Year so briskly, have not maintainef their activity. The removal of part of th e Treasury embargo on new issue** •is expected to lead to a revival ir capital flotations in the near future. .Already newspaper and tailoring firms issues ha\> been’ readily subscribed, bu two municipal loans, for Barnsley am Essex County, fniled to hit the puli' taste and the underwriters were lef with a large proportion. This is at tributable elderly to the high price af which they were issued, fo r investor* ate not keen on paying £9B for mum cipa] 3.V per cent, stock, when they car get conversion loan at £99.

CONSUMPTION of butter. In its annual report on butter the A T< Mills Company refers to ths groa' increase in consumpt.ou, which i liable. thf> country to absorb enormous im ports, amounting in 1932 to 522,5 C( tons, of which the Empire supplied 5 r per cent. The average consumption i> 1931 vTis 7325 tans weekly, which ir creased m 1932 to 7709, and it is esti mated that during the last two month it- averaged 8200 weekly. The yCpor' adds that outlets are continually expanding particularly in the Midland and North England, .-o >t can now l v said that Empire butter j.s Rolling > v practically every city, town and village in the United Kingdom. Press Association inquiries show the' th’s increase in consumption, which i. of course largely due to the I°"' reta price of lOd and Is a lb, and in sour places glightly lower, is furiously affect ing the trade in margarine, of which fame well known 'brands are now vet ad inr at Sd for two lb. Tb e raw mat evials from which margarine is manufactured ar? all cln.op notably copra at slieldly over £l3 a ton, but tin margarine people are having a very l«a r time.