THE WEEK IN LONDON.

Auckland Star, Volume LVII, Issue 145, 21 June 1926, Page 4

THE WEEK IN LONDON.

STOCK EXCHANGE CONFIDENT

- ATI:- FACTORY APFLE FRICES

LONDON. June 19.

In spite of the prolongation of the coal dispute and the absence of any signs of aa early settlement the London Stock Exchange maintains a confident tone and rirmness characterises most sections. Even Home railway stocks, the dividends on which may be. affected, show only small declines in value, and all giltedged stocks are firmer.

Several trustee stocks have been issued in the past fortnight, all of which were rapidly over-subscribed. Their success may he regarded as an indication that There is plenty of mouey available for investment purpose?.

The prospects, therefore, are hopeful for the Commonwealth loan of £6.000.000, ■which is expected early next week.

Considering- the heavy arrivals of apples from Australia and New Zealand in the past three weeks trade has been fairly satisfactory. Prices have not given way to the extent some people anticipated. This is largely due to the cold, rainy weather checking the growth of strawberries and other small fruits, and to the partial prohibition of the importation of French cherries. Owing to the prevalence of maggots of the cherry fruit fly. the Ministry of Agriculture has forbidden the importation of all cherries unaccompanied by an official certificatp that they come from non-infected districts. Several recent Australian steamers brought a considerable number of vasty apples which are only saleable at low ]'rices, but good hard apples continue to meet with satisfactory demand. The recent general strike had an appreciable effect on Britain's wine imports. Numerous Continental shippers feared the strike might laat a long time and reduced the amount of their exports to Britain. Others stopped shipment altogether. As a result, the total imports in May from foreign countries were only 053.000 gallons, a decline of 390,000 gallons compared -with May, 1025. Australia, on the other hand, showed a satisfactory increase, the month's imports amounting to 77.095 gallons, compared •with 64.500 gallons last year.— (A. and