BRITAIN’S TRADE REVIEW.

Timaru Herald, Volume CXXIII, 13 April 1926, Page 7

BRITAIN’S TRADE REVIEW.

Money Market Depressed. MEAT AND WOOL PROSPECTS. fry Cable—Pre*s Association- —Copyright. Australian and N.Z. Cable AbsocUM«v.» LONDON, April 10. The Stock Exchange is overshadowed by the serious situation in the coal industry, and business-in all departments ’is dull. This is particularly noticeable in industrials, especially rubber and tin shares, which have been further affected by the fall in the values of those commodities. Gilt edged prices are mostly steady, but New South Wales scrip remains about 25s discount. Several new Joans were expected to make their appearance after Easter, but they have been delayed, apparently owing to the general uncertainty surrounding the labour and political situation.

Apple Season Opens. Australian and New Zealand apple season has not opened too well, the demand not being as good as it might have been,„largely owing to the continued heavy arrivals of American apples, and the. marketing of large quantities of Americans which have been held in cold store here. These, despite the Jong istorage, are of excellent quality, and appearance, notably Newtown* and \Vinesaps. Many buyers are giving these preference over the Dominions’ fruit, as the latter is hot turning out altogether satisfactorily. Tll'ere is considerable bitterpit noticeable m many varieties, notably Cfeopatras and Coxs, and soma fruit is decidedly immature. American competition seems likely to continue, as Btored stocks in. the Dnited States are reported to be heavy. Australian Wines. Complaints are being made of the poor quality of some recent arrivals of Australian sweet wines of a type, which, according to one vnne merchant, ai*c of such a character as to produce disastrous results, and almost break the heart of every well wisher to the Australian sweet wine trade. These inferior wines, which were shipped when too young to stand the lengthy journey between Australia and the Motherland, have jeopardised most promising future trading possibilities. A leading firm ol importers, writing to trade newspapers, suggests that the trouble is due to the impossibility of loresecing at the commencement that there wouid be such a large demand, and stocks of matured wine were soon exhausted. The firm adds: “If this business is to he saved the Commonwealth Government must refifce to grant the 4s per gallon bouhty on any wines exported which do not reach the standard of quality and age.” Frozen Meat Trade. Although the trade in frozen mutton and beef continues disappointing there has been a great improvement in the demand for Australian lamb, and aided by a certain amount of speculative inquiry, values have appreciated sharply. Practically tho whole of the present fall has been recovered. The demand has been chiefly for light weight descriptions, but other grades have advanced in sympathy. Lamb arrivals have been small in the last few weeks, and this enabled values No be maintained, but there is sufficient lamb stored hero to make operators anxious concerning the future. Wool Outlook. Discussing the, WO6I situation, a well inlormed Bradford correspondent says: “The long continued stability of wool prices this season has been immensely beneficial to the industry by inducing confidence and facilitating' the sale of the fully manufactured article at reasonable prices. It also conduced to tlie extended use of the finest qualities of wool, while there seems little doubt that the considerable publicity which in various wffiys lias been given to tiie superiority of British clothes is at length producing good results in a greater demand for Bradford fabrics. A conspicuous feature of trade at the moment is a demand for the very finest merino goods. Spiiinbi-s and manufacturers of the highest quality yarns and cloths are busy in the consumption of merino* on a large scale. Top makers state that they can readily sell ahytliihg from 60’s quality upwards, but even below this there is no weakness, AH prognostications about the possibility of a fall in wool have been, falsified, and now that the New Zealand season is (dosed, and the end of the Australian is within sight, there is Bound confidence that the raw material is on solid foundation.’'