DOMINION STOCKS

Sun (Auckland), Volume III, Issue 667, 20 May 1929, Page 10

DOMINION STOCKS

SLIGHT RISE IS NOTED IN LONDON WEEK’S TRADE REVIEWED (Australian and N.Z. Press Association) LONDON, Saturday. The week preceding the "Whitsuntide holidays, which is usually somewhat quiet on the Stock Exchange, this, year has not proved an exception to the rule. Gilt-edged stocks have been slightly easier, owing to the tightness of the * money market, the only good section, being Dominion stocks, many of whiel* j show a slight appreciation in value. Tf j quote one financial editor: “Some buying of Australian stocks was induced by the result of the Queensland election.’’ It is particularly interesting to vote that Commonwealth 5 per cents, advanced to 99, notwithstanding the. announcement of a new issun of £12,000,000. This is probably attributable to satisfactory news from Australia regarding the success of t'ne local conversion loan, which has bf.en favourably commented upon by many newspapers, and which undoubtedly created a good impression in London. Subscription lists for the new issue, both for cash and conversion, remain open until May 24, and although no official information is at "present available it is generally expected that a good response will be forthcoming from both the public and the holders of the maturing stock. The terms offered are regarded as favourable, and as the “Economist” says, unless, the holders of Queensland per cent, stock wish to go outside Australia for investment, they will doubtless «convert. APPLE BRISK Trade in Australian and New Zealand apples continues brisk and prices have advanced by a shilling or two. This is largely due to iJ.ie improvement in the quality of the Bruit, particularly as regards colouring. Another contributory factor is the /decline of supplies of Americans, which hitherto have seriously affected. Australian sales. A feature >o£ the market this season is the strong: demand for large cooking apples, notably Alfristons, which fetched U£* to 14s a case. The prospects for The future are regarded as good, especially as the Minister of Agriculture, Kir. Walter Guinness, in order to prevent the introduction of the cherry Xlruit fly, is again putting reson the importation of French cherries}, which in some previous seasons seriously affected the sale of apples. An Imperial fruit show will be held at Birmingham at the end of October. This is too late for Australian and New Zealand apples to have any chance of competition, but they will have an opportunity in the canned produce and dried ffc*uits sections. In the former section {.fold, silver and bronze medals are Goffered in each of IS classes, and for (Tried fruits similar prizes are offered in jU) classes. There is also a class for 'Empire oranges, in which Australia might compete.