TRADE REVIEW.

Taranaki Daily News, 9 August 1920, Page 5

TRADE REVIEW.

FALL OF THE DOLLAR, (ERE gIOGK EXCHANGE UNEASY. T»l«gr*ph.—Press A«sn>-CoSjrltht. ■ Received August 8, 11.30 p.m. -» London, Augost 7. "the dominant feature oi the exchange niirkethas been the fall oi the dollar, ■which came sooner than usual this autumn; bne contributing factor being the disturbed outlook on the Continent, and another -being the increase in American transportation coatj. Yesterday's recovery is attributed in some quarters to iftaiicp haying made considerable progress in preparations for the repayment of the 260,000,000 dollars due in October; also, the rather more favorable aspect of the Polish question. Other foreign exchanges to some extent reflected the relapse in the American rate, but the advances were mainly due to war rumors. Man ,«£ trouble regarding Poland ' cawed uneasiness- on the Stock ExnhnxiCC. with general depression and slackness, particularly in the industrial eectson, where it was further accentuated ty Irish events. Shipping shares are weak, with a reduction of time charOne bright spot on the Stock Ksoluuige is gilt-edged securitiesj which Offered greater resistance to the downward movement than other securities, gfhig.is attributable to an anticipation of morß money finding its way to the Btock Exchange for high-class investment, rather than for "industrials," which pie likely to be affected by labor troubles, dear coal, railway charges, and tlw general dullness of trade, which apptura likely to continue. .fIPTTBR SUPPLY DECLINES. .Sutter supplies are steadily declining, fL&d tho wdekly allowance will be shortly winced to one ounce. The position cannot possibly be relieved till colonial butter begins to arrive, and even then supplies are likely to be far below requirements. Denmark has put an embHjgO on the exportation of butter and * cheese owing to a ■shortage of milk. The Wholesale price of Irish is about 420/-. The Australian delegates, Messrs. Osborne and Sinclair, are in negotiation with die principal importing firms respecting the purchase of. Australia's output of cbease. A decision has not yet binoteached. | The/British fruit crop is turning out very Apples show almost the •UUlMft yield on record, and pears are neirly as bad. 'The canned goods trade it: very flat. Many firms hold large static; deany bought, which they cannot iieO, except at a heavy loss. The potKIMt is niftde worse by the failure of a ®rai which has been speculating heavily. It is reported its deficiency is 'zMflOO, and it is feared its stocks will be thrown «n the market. Continnons rain is seriously affecting British crops, and the position is approaching disaster. Wheat and barley is to badly laid that it cannot be cut by Abroad the harvests are favorable. It is unofficially esti- , J ndnca tast the American winter wheat yiul will be about 530,000,000 bushels, add the Spring yield about 285,000,000. i. Metal markets strong

Since last soles there has been a steady demand for tallow, and a large quantity has been purchased for the ContinMt. Preegnt vataea are about 4s above those of 1917. -The-rabhittrade is dull. Supplies are heavy, all (tores in England being full of colonials," of which a large pro- * portion is more or less damaged. These will-fee difficult to move, but traders expect aj good demand for all sound rabbit* Wainthe season opens at the snd of the month. The present value of "lArgt. blues" is about SBs a crate exstore. . T^e. metal markets ate strong all latmd, M a result of the decline in the Aifeeridan exchange rates, which led to large purchasing, especially tin, of which Usay "bufig" show an upward movement, helped by favorable statistics and a rise to the East, where the price exeteS&l £9OO. The dominating factor in ImA has been l purchasing for shipment to America.—Aus.-N.Z. Cable Assn. TO GHBGC SPECULATION. tffflHfSt BANIt RATE SUGGESTED. ", r Received August 9, lifiO ajn. London, August 8. It is reported that Mr. it C. Norman, . Governorof the Bank of England, favors increasing the bank rate of eight per cent, for the purpose of checking ■peculation, and also attracting foreign baUhWa, particularly American, thereby reducing the rate of exchange.—Aub.Cafcto Assn.