TRADE REVIEW

Ashburton Guardian, Volume 54, Issue 192, 28 May 1934, Page 5

TRADE REVIEW

CONDITIONS IN BRITAIN.

BETTER BUSINESS IN BRITAIN.

MARKETS AND' INDUSTRIES

(United Press Association —Copyright) LONDON, May 26.

The Stock Exchange has been quiet since Whitsuntide, the only really busy section being the mining market, in which Rand and West African shares have shown considerable activity. West Australian also met with some demand. Industrials generally have been out of favour, rubbers having fallen back with the reduction in the commodity price, but aircraft issues * and the shares of companies associated with aviation have had a sharp spurt on rumours of an early increase in military aircraft construction. I The gilt-edged market has been disappointing, most prices having weakened slightly in the absence of support, a contributory feature being the issue of the new Canadian £10,000,000 loan. Australian Commonwealth and State loans have barely maintained their recent high uotations. The Fruit Market.

Although supplies of Australian and New Zealand apples continue heavy, the. market remains fairly steady, the arrivals being well cleared. A feature is the active demand for culinary vaiLieties .'ike Alfristons and French Crabs. There does not, however, seem to be much livelihood of any improvement in prices in the near future, for the prospective arrivals are large and the continental soft fruits are now coming in freely, especially French cherries and Spanish apricots. There are also good quantities of foreign strawberries which are retailing at a shilling a pound. It is satisfactory to report that the condition of the apples so far has been generally good. Bears continue to meet an excellent demand at satisfactory prices. The Australian and New Zealand pears now haye the market practically to themselves, as South African, supplies haye ceased. ■ i Better Business. Business activity in Great Britain continues to improve,' and, according to the "Economist's!' review, the capital equipment of industries has shown further progress during the last month. The iron and steel trade remains active, but there has been some flight decline in new business in certain branches. Reports from the engineering industry are encouraging. Most branches appear to have made further headway in recent weeks. The volume of inquiries has fallen off a little* but the new business remains substantial.

Activity has increased in structural engineering. The manufacturers of textile, agricultural and mining machinery report after business. The buying of industrial chemicals has been quite active, which reflects a. sustained improvement in most branches of activity.' The improvement in the heavy industcries has been largely responsible for the maintenance of the industrial demand for coal. On the other; hand, the coal-mining industry has experienced its seasonal decline. The demand for house coal and for export business has failed to expand. There has been a further spurt in building activity, and most of the subsidiary industries engaged in the manufacture of building and furnish,ing materials record further, progress. The development of business in the motor industry is most satisfactory. A larger volume of orders has been maintained and a number of manufacturers have decided to enlarge their productive capacity. Most of the textile trades, with the exception of linen, experienced a distinct check in activity and in new business. The decline has been most pronounced in the wool and textile industries. Dairy Produce. The improvement in the butter trade has been maintained. The demand has been active, doubtless stimulated by news of a sharp .decline in the production in New Zealand, and a smaller decline in Australia, but the quantities afloat are still heavy and the cold-stored stocks exceed 28,500 tons. Meanwhile, consumption remains very heavy and, as one of the leading importers says, buyers will eventually be compelled to replenish their stocks, but until the position in regard to the Northern Hemisphere supplies becomes clearer it is doubtful if they will operate much ahead of immediate requirements.