A CHEERFUL OUTLOOK.

Auckland Star, Volume LIII, Issue 245, 16 October 1922, Page 5

A CHEERFUL OUTLOOK.

LONDON STOCK EXCHANGE. WOOL MARKET IMPROVES. CHEESE MARKET STRONG. T.y .„..>. Tress As s ucia;'un.--i.'..p.vrii**'..i i LONDON, October 13. llie satisfactory conclusion of the Mutlania Conference had a tonic influuice on the Stock Exchange, nnd business has shown a wclconfc expansion in most directions, the iri-sh slump in the mark and rumours of an approaching ■reneral election Inning been entirely ■nunteraeted by the good news from the N'enr Kast. Gift-edged securities have le.) tho way in the recovery «,.' prices, tbe war loan and conversion loan having shown much strength. Industrial stocks have also been active, notably rubbers. i,ii the advance of raw materials. A satisfactory feature i< the success 01 the llotation of two good industrial issues. The advance of wool prices at the London sales has naturally given great strength to the Bradford tops market, and those buyers, who have been waiting in tbe hope of getting cheaper wool, have been grievously disappointed. Spinner.-, who have been holding off. are now obliged to purchase fairly extensively. although they still complain that they •annot sell yarns at prices commensurate with the cost of wool tops. A feature of the wool sales is the growing American demand for cro. shreds, following on the tariff decision. This demand appears likely to continue to increase, and the outlook for crossbred* i- more favourable than il has been for :i long time past. The dried fruit market, remains very linn for currants and sultanas, owing to limited supplies, but Valencia, are arriving in fair .juantities. Prices are rather easier and Australian agents have reduced lexias by o/. Australian stock* arc now practically cleared and no more arrival* are expected. Retail price* arc very high. Currants are fetching Oil to 1/3* per lb. sultanas i/-( to |/!i. and Valencies 1/2 to 1/(5. There is little hope of any reduction of these prices, so the Christum* pudding will be somewhat of a luxury. 1 The tin market shows a very firm tone on a good statistical position. The dc j mand continues unabated in America.! where consumer* are buying heavily, there being- ». strong demand tor future shipments. There are indication* that producers in the Kast arc holding up supplies for better prices. The demand for lead for Home consumption and export is well maintained, prospects a* regard fresh supplies being very uncertain. Tbe cheese market appears io lie very strong. Stocks in this country are only a.hout half of those in October. 1021. Production in Canada this season is estimated to be :!_ per cent below last season, and there is a definite shortage in the Cnitcd States. At the wool sales only a few Australian merinos were offered. All classes were very firm, and competition _-as keen. Xew Zealand Tc Kapo clip realised 4/1. .-.lid TLB.M.C. lambs* wool "J/1. IA. and X.Z. Cable.) <