BRITISH TRADE

Hokitika Guardian, 13 December 1933, Page 3

BRITISH TRADE

FORTNIGHTLY REVIEW

STOCK EXCHANGE BRIGHTER

LONDON, December 9,

The Stock Exchange has been passing through a quite period and there has been some hesitancy, but at the middle of the'week the tone improved. Gilt-edgeds, which earlier were inclined, to'weakness; miide a gcod recoA'ery,■■•a'nd Dominion ' stocks slioavi 1 firmness all round, the Commonwealth conversion having a good effect, especi- ; ally on Australians. '• The feature of the last tAVo days has 'been the recovery in shipping shares because of the ' conclusion of ’ the Atlantic fares agreement and the prospects' of a temporary subsidy for tramp steamers; also the possibility, as hinted by Mr Neville Chamberlain, of the Government taking steps to help the shipping industry generally. Rubber shares had a serious set-back recently, as the expected restriction Ca out put agreement lias not yet material-, ised, but although the decline >'i shares was serious, prices are still in many case 50 and 00 per cent. aboA'e the loAvest quatiohs of last year.

BUTTER AGREEMENT

The butter position has been to some extent clarified by the decision of the Australian and New Zealand Dairy Boards to spread shipments more evenly, and the belief is expressed that this action should prevent unnecessary reduction of cold stored stocks by the end of November to 463,000 boxes. The neAvs has already brought a firm tone to the market, and traders are hopeful that they Avill be able to maintain prices, especially as consumption continues to be good, as shoAvn by the fluctuations in prices.

PRICE CUTTING OF WINE

The wintry weather brought about an increasing demand fon SAvdet, strong ! Australian and South African wines, and distributors report a lively trade. I The “Wine Trade Review” says, regarding Australian wines: “It is regrettable to note continued instances of price-cutting, both wholesale and retail. This displeasing feature is bound to embarrass tlve future prospects of the trade. Recently two retail quotations came under notice, both from big trading firms, one offering Avellreeommended sweet wipe at 2s fid a bottle and the, other at.2k 4d. Such quotations jnust'seriously disturb the plans of those who .are trying to stabilise the prices of such wines. Moreover, a 1 oonfiinuyice of such quotation's increases the public impression that Australian sweet wines can be purchased,, regardless of the quality element, at absurdly loav figures, Avhereas the experienced trade knows that these wines cover a variety' of qualities'' coifiparable Avith. those of moderate cost emanating, from Portugal. It might be of advantage to Australian wine interests to make, -g 0 nor a 1 i y kno av n the fact that thei-e are various qualities of Australian sweet AA'ine, for it is to be feared that the public as a whole is no aware of this. The South African sweet Avine market does not appear to bo troubled in this respect. As regards the light AA-ine sectiohs, reports of both .{these Empire producing areas are most promising, with the flagri trade well to the front.