UNSETTLED.

Auckland Star, Volume LXVII, Issue 134, 8 June 1936, Page 4

UNSETTLED.

LONDON STOCK EXCHANGE. ! BRITISH TRADE REVIEW. LONDON, June 7. 1 The London stock markets are depressed as the result of the franc situa- , tion. GiJt-edged stocks continued leaden, ' and Canadian stocks are cspecial sufferers ' owing to the removal of Alberta securi- | tics from the official list, because of the ' Treasurer's announcement of the imposition of a cut in interest rates, adding: *"Jl bondholders do not take what we can 1 give, they will get nothing." | The commodity markets have been un- ' happily enlivened by the violent ltuctua- ' tions in the price of tin, which dropped , £13 in three days. The fear that the ; restriction will not be renewed at the end ' of the year has become serious for the 1 j Australian and Malay group and the 1 Federated Malay States. The Chamber ' ; of Mines stated that Malaya would grant no further concessions to her detriment while tin mining expanded elsewhere. Yet it seems inevitable that Siam must be granted substantial concessions. The only possibility seems to be to grant them at the expense of Bolivia, whose bargaining power is weak. Zinc touched the lowest level this year. Lead reacted sympathetically in spite of the strong statistical position. Money Rates Dearer. Treasury bill rates, which have been rising since the Chancellor declared that short-term rates probably had reached their low limit, touched the highest level of the year, and now are over 14/ per cent. Discount rates also rose sharply. A heavy efflux of notes, the result of foreign hoarding, depleted the cash of the banks, consequently the end of the banking half-year may be difficult and lead to borrowing and the Bank of England further increasing bill rates. Butter a Bright Feature. Butter offers a brighter feature o£ the London markets, and the trade is optimistic that tile advance will continue. Heavy Apple Supplies. New Zealand apples per the Mamari and Port Brisbane sold as follows: — Cleopatras, 7/6 to 8/0; Jonathans, 7/0 to 8/3; Dunns, 7/13 to 8/. Australian sold as follows:-r-C'leopatras, 0/ to 8/0; Jonathans, 0/9 to 8/0; Dunns, 7/ to 8/. For years there is more inquiry. Boscs, 8/ to 11/6: Coles, 9/6 to 11/. j Unseasonable weather is largely responsible for the quiet .demand for fruit. I Supplies of apples continue heavy, t