TRADE REVIEW.

Taranaki Daily News, 24 August 1920, Page 5

TRADE REVIEW.

INFLUENCE OF THE UNREST. PRICES GENERALLY FIRM. By Tel«ir»ps,—Press Assn.—Copjrljht. Received August 23, 8.50 p.m. , London, August 21. The Stock Exchange is quiet, the uncertainty of the European outlook making everyone cautious, but prices generally are firm, especially gilt-edged security. There is moderate inquiry for Colonials, chiefly New South Wales and New Zealand. There are some signs of a revival of interest in speculative stocks, which lately have been much neglected. A feature of the exchange market is the steady depreciation of Allied currencies, especially Italian. The opening of the London wool sales are awaited with keenness. There are signs of somewhat more active home competition for good wools, particularly shafty merinos, hut there is little interest in low wools, and corresponding varieties of Argentine are about sixpence per lb cheaper. Huge Governraen stocks, in addition to New Australian and home clips; are acting as a drag on the market, causing an impression that there will be some decline in values. But the supply is good, and merinos are considered to be relatively small, and do not exceed the absorbable quantity.

THE METAL MARKET. Some' orders are being sent by the United States, and there has been more inquiry from this quarter than for some timie past. The Continental position is difficult, owing to the unfavorable exchange. Apparently those countries.that can pay arc about full of goods, and those that cannot still want a considerable quantity. The falling market is causing buyers to hold off, hoping for a further reduction, and not because tliey do not want goods. Business in metals is generally restricted by the European political situation and labor uncertainties in Great Britain. A feature of the copper market has been the re-appearance of Japan as a seller. There will be fairly large quantities for shipment during the nest two months. The position with tin is regarded as fairly sound. Prices probably would have advanced but for tile European situation and Labor questions. There has been some buying on American account, and a; moderate Continental demand, but the home trade js slack.

Lead supplies in sight are apparently ample for immediate needs, but future supplies are somewhat doubtful. There may be a scarcity if consumption improves. Meanwhile, business with customers here is very disappointing. The same applies to spelter. The Germans are offering large supplies for early shipment. It is reported that German producers are now permitted to export twenty-five per cent, of their output free of eiport duty. %

BUTTER AND CHEESE. The present outlook regarding butter is that supplies will be very short for the next three months, but they are forward and there should be a material improvement. English and Irish butters are fetching very high prices, but consumption is limited on that account. The Government is negotiating for the purchase of the 'Danish output. Germany, America, France, Belgium, Norway, and Sweden are also anxioiw to buy, and the two first-named countries are offering prices considerably above our bids. Large supplies of Canadian cheese aTe still arriving, with a consequent steady decline in values. Canadian factories are only getting about twenty-five cents a pound, which they say does not cover the cost of production, so it is likely they will largely, make butter instead. Freights continue to be depressed, with a decreasing dfemand for steamers. The recent decline in Australian full cargo rates brought tha earnings to such a point that with the continuously increasing expenses the owners are faced with the question whether it is not cheaper to lay up Bteamers. It is rumored that the Government contemplates laying up some German boats, which lately have been working at the. barest profit.—Aus.-N.Z. Cable Assn.