TRADE REVIEW

Hokitika Guardian, 22 August 1933, Page 6

TRADE REVIEW

CHEERFUL TONE IN BRITAIN.

(United Freas Association—By Eleotrio Telegraph—Copyright)

LONDON, August 19

Although the holiday season is in full swing, the 'Stock Exchange is showing ' remarkable activity and strength. "jjrokeivs says that this has been the busiest August since the b o om days of 1928 and 1929. The pressure of woi'ic has Been so great that many firms have increcsed their staffs and many partiierg have postponed their summer leave. The number of dealings recorded on the official list has beeii averaging more than 7000 a day, which is well above the average.

A >fo.iture of the market has been that the continued rise in British fu nt, i3 has 'been accompanied by & general advance in go,ld-mining shares, notably South cjfrioan and Australian, while a wave of optimism has swept over the industrial markets, many of these it early reaching records.

DISTILLERIES BUSY

Among the industrials for which demand is active are distillery shares, due to the anticipation that America will repeal 'prohißition before Christmas. It is reported that several distilleries in 'Scotland have' reopened, after being idle for some tithe, to meet the demand from ' ' America, where tffere is very .little, mature whisky, American gypdicates, have .already placed large orders in, Scotland, Tho, prices of some-grades of whisky have risen 50 per cent, in two months. The Distillers Company, Ltd.,, the great combine, with a capital of £14,000,000, is said to have secured large American orders. On the strength of this .report ■its ordinary shares have advanced to ( £4 10s 3d, showing a rise of 10s in a month. Last year the price of these shaves ranged from £2 to' £2 18s.

AMERICAN DEMAND FOR HOPS

Another article 'which A|merica is buying; largely is hops. According to the chairman of a. - Large brewing company, it is thought that within the next few months a large proportion of the growing crop of English - hops, .as well as next year’s crop; may 'be sold out’ of this • country - before 'Engli'sh brewers’ requirements are- met, as there are no stocks in ‘ the hands of the marketing board. If this expectation is realised, I there appears tb be a gbod opportunity for. Tasmanian flops .in this market, ; < . 4 ~.... .

GENERAL OPTIMISM

' Many newspapers HaW taking'all opti'view 'of the 'trade (position. Among them -■ as the “Daily Express.’ ••which' tbe'ntions the 0 growing belief int the? city-- that' the autumn witl”" see' a revival• of British 0 ifrtfde;; far ;: f outstripping %nytflin'g'• 'Which' " has occurred since 1 the world slump began - In '1929;Brokers, ba!nkexf, .ehippingjeadersj ..and other, well-placed observers, who Have hitherto adopted a cautious attitude towards trade?. siecdverf Ming com verted fly thejaccumulating weight of evidence, coming o,n top of .the progress (already- achieved this year. An autumn upswing of trad© would prove conclusively that the slump was dean, and progress from then onwards should be steadily upwards towards the peak of the trade cycle. Among , the signs of improvement in the general position of the country one of the most noticeable is the increased importation of wines. For the seven months ending July 31 imports 'amounted to 4,880,588 gallons, compared \vsih 3,969,935 gallons for the corresponding period in 1932. Imports from Australia' during the seven months showed a slight decline. "'V' ~v, i■*.■ i- y :j' y ; EQG BUSINESS. V Prospects fq r ‘ the Australian egg season are ‘far more favourable than, appeared possible a short time ago. A long spell of hot, dry weather has caused .a great drop in production in Great Britain and on. the Continent, with a considerable decline -in .foreign imports, so that supplies on the market are barely sufficient to meet trade requirements. Consequently many eggs which have been stored to meet the winter demand have been sold. A! consignment will be sold on Monday, and is expected to realise about 11s 6d a long hundred for fifteens. Importers think this will be about the ruling .price for some time, as, in addition to Australians, considerable supplies from 'South Africa will commence, early in September.