DISTURBED WEEK

Sun (Auckland), Volume II, Issue 383, 18 June 1928, Page 12

DISTURBED WEEK

LONDON STOCK EXCHANGE BRITISH TRADE REVIEW (United P.A. — By Telegraph — Copyright) LONDON, SaturdajL The Stock Exchange passed through a somewhat disturbed week, a sharp break on the American market having had a repercussion here. Naturally stocks having an international market were most affected, but the uneasiness spread to other departments, and many speculative industrials which have been so prominent of late suffered severely. Even gilt-edged stocks showed some signs of weakness, but the declines were mostly only fractional. Describing the position, “The Economist” says: “The shake-out will ultimately have a beneficial effect on the health of the markets generally. All the week’s indications suggest that the undertone for the more solid stocks is satisfactory/’ APPLE MARKET The apple trade this week has felt the effects of competition with strawberries, the British crop of which is moderately good, although foreign imports are much below the average. Strawberries are by no means cheap, the retail price being about Is a lb., but they always attract buyers, and the demand for apples has consequently been affected, especially in London, which receives the bulk of the strawberries grown in Hampshire. It has therefore been difficult to maintain apple prices in London, but better results have been obtained at Liverpool and Hull. The apple cargoes generally have arrived in good condition, although they were occasionally on the ripe side. The quality of some of the Tasmanians has not pleased importers and some of them are advising shippers not to send inferior qualities, which cannot possibly be sold profita.bly. So far no cases of brown heart have been reported, but a parcel of about 200 boxes of South Australian King Edwards came under suspicion. These apples externally looked perfect, but when cut were found to be rotten throughout. The South Australian Agent-Gen-eral, Sir Henry Barwell, and the Trade Commissioner, Mr. R. M. Lewis, after inspecting them, had them condemned and sent 10 cases to the Cambridge Research Department for examination. LIVERPOOL TRADE The decision of the Aberdeen Comjnonwealth Line to load three steamers for Liverpool direct naturally caused much gratification to the trading community, not only at Liverpool, but also in Lancashire generally. Liverpool business men point out that there is a population of 20,000,000 people around that port, which can effectively be fed from that centre. They say the time has arrived when if the overseas growers decide to increase their output they will need to decentralise the marketes and feet? the northern population direct through Liverpool. There is already a good market there for fruit., which Is being received in fair supplies from Australia and New Zealand, but direct shipments of dairy products and meat would he welcome.