THE TRADE REVIEW.

Ashburton Guardian, Volume 52, Issue 206, 13 June 1932, Page 5

THE TRADE REVIEW.

WEAKNESS ON STOCK EXCHANGE AUSTRALIAN SECURITIES FIRM (United Press Association— Copyright) LONDON, June 11. .General conditions on the Stock Exchange remain unsettled, and several disturbing events prevented :.an improvement. The in Chili, the failure of an important firm, the metal market, the widespread liquidation on AVall Street, political.xvncerv tainties in Germany and the weakness of the sterling exchange all contributed to make the operators cautious. Consequently there was a general air rt stagnation in the markets, -and.the movements of prices have been mostly downwards. . ~ A pleasant exception is Australian Government stocks, which maintain their firmness, and in some cases, Have improved. »-• Australian Securities. Discussing Australia's economic position, the "Morning Post's financial editor describes the,.change as _ a most remarkable and 'praiseworthy achievement. Many thought that, having lived on borrowed money tor so many years, the Australian effort to turn an import balance into an export surplus would be a task quite beyond its powers. Sometimes the. bickerings of politicians, which were often accorded greater prominence m the cabled news than any evidence of solid progress, might nave \ obscured the tact that thevtask was being tackled wholeheartedly •by the -Australian people once they were shown the way. the faith of those investors who had held their Australian securities .1 right through the period of difficulties wasseen to be justified, and in view of the falling returns in high-class domestic securities, there would seem room, it the New South Wales election, went in the direction generally anticipated, for a further improvement of Australian stocks, as providing one of the fewchannels where the investor could look for integrity on the part of the borrower There were still difficulties to be surmounted, but.a great beginning had been made. Apple Supplies. Supplies of apples during the first half of June were no fewer than 1,233,000 boxes of Australian and 142,000 'New Zealand. In the face ot these enormous arrivals prices declined about two shillings per box. It is fortunate that soft fruits, cherries, strawberries and gooseberries are fully a fortnight later than usual owing to the cool weather so far experienced, otherwise the prices must have declined more. It is also fortunate that, the duties on foreign cherries and apricots minimised the supplies, but there is now a spell of bright, hot weather, and heavy supplies of home-grown strawberries are expected next week. This' makes the outlook for apples during the next fortnight rather serious.