LONDON ’CHANGE QUIET

Sun (Auckland), Volume II, Issue 359, 21 May 1928, Page 12

LONDON ’CHANGE QUIET

BRITISH TRADE REVIEWED WOOL VALUES HARDENING (United P.A. —By Telegraph — Copyright) (Australian Press Association) Reed. 10.25 a.m. LONDON, Sunday. Gilt-edged business is quiet. Prices are well maintained, a good effect being produced by news that the 5 per cent, war loan and the funding loan are to be made trustee stocks in the United States. There has been a good demand for recent colonial issues on which satisfactory premiums were established. The latest issue is a Kenya Government £3,500,000 4 h per cent., at £95. This has been most favourably received, and was oversubscribed immediately the prospectus was issued. It is now quoted at a small premium. WOOL PROBABLY DEARER In discussing the wool outlook, a Bradford correspondent writes: “Prices in London show a hardening tendem-v as the sales proceed, and the hope of cheaper raw material has receded into the background. Consequently the,. (

spinners have shown more disposition to undertake further operations, the result being that some firms have had a fairly substantial turnover, although the buying movement has not become so general as to have any striking effect on quotations. But the positio. of the topmakers has been strengthened, and a definite advance soon would not be surprising. It is the opinion in responsible quarters that wool is more likely to be dearer than cheaper later on.” FRUIT MARKET The demand for apples continues i satisfactory, but importers find it irn- . possible to realise higher prices as supplies continue. There have been • heavy arrivals from Australia and New Zealand. aggregating nearly 300,000 cases weekly. The condition of the fruit generally has been good, but one or two cargoes have arrived in a very advanced state, and. have consequently been sold at low prices. Pears are meeting with an excellent demand, as Australia and New Zealand have the market practically to themselves, and their fruit is fetching high prices. The continuance of the cold spell on the Continent makes it certain that the early French cherry crop will be small. Indeed, British supplies of foreign cherries will be much below usual, for the Ministry of .a Agriculture, with the object of pre- -<

venting the introduction of cherry fly. has prohibited the importation of foreign cherries from the South of France after June 6, from Central France after June 12 and from Northern France after June 21. All Italian imports are prohibited after June 16. Thus there will not be the competition of cheap cherries with which the markets are usually glutted during June and the first half of July. The British strawberry crop has been affected to some extent by frost, but a good yield is anticipated. AUCTION NOTES Messrs. J. H. Ansell and Co. will conduct the sale of motor accessories, tyres, sundries, and office furniture at the Central Garage, Dominion Road, to-morrow, at 10 a.m.