TRADE REVIEW.

Taranaki Daily News, 20 September 1920, Page 5

TRADE REVIEW.

A BRIGHTER OUTLOOK.

CONWTIONS MORE SETTLED.

Br Telegraph.*-P*«SB Assn.—CoDyrlaW.

Received Sept. 19, U. 5 p,nj.

London, Sept. 18. The Stock Exchange, during the last few days, recovered somewhat from its earlier heaviness, which was due to industrial unrest, but buyers are still very cautious, and are little disposed to operate till condition* show a more settled tendency. The money market is becoming more comfortable, and the position has eased by the Bank of England indicating a desire that Tateß Bhoul J not become too stiff. Foreign exchanges have been fluctuating considerably. The heavy fall il American exchange and the decline of the franc are attributed mainly to negotiations for the repayment of France'* part of the Anglo-French loan. The, new arrangement completed, both recovered, considerably. The improvement in the franc is also partly due to a report that a large portion of the ' French; six per cent. loan will shortly be issued in London.

Business in all metals except spelter has been on a larger scale than for aonje' time past, owing to an optimistic vidw of. 'the outcome of the coal trouble. Some quarters consider the demand for eopper has been satisfied, and values may decline. Tin is becoming persistently bought by leading operators, who apparently take a good view of the future, despite the uncertainty of the labor and political outlooks. There is large business with the East, where values have been reduced to meet the London parity, owing to anxiety by the Chinese to liquidate, partly in order to meet their losses in robber. Business m lead continues to be of a hand to mouth character, users Beeing nothing fn the immediate situation to justify purchasing ahead of requirements. > The wool trade expects Tuesday's sales to open dull. The Home trade his very few orders, the market being inclined to wait for the opening of the Australian; sales. Top quotations are weakening. -The uncertainty regarding the coal situation is likely to mean weaker support than at last sales. Contin&tal conditions are practically the satoe; with the addition of an adverse exchange. Only a few orders haVve been reefed from the United' States. It is expected that fine merinos will be maintained, and other sorts will be cheaper. A well-known authority regards the international wheat position as by no mettu unsatisfactory. He anticipates a deeline fn prices, but there cannot be any gnat, fall till Russia resumes exportation, which will be impossible till she has a stable Government, which may be two years hence—Aus.-N.Z. Cable A»»n.