TRADE SUMMARY.

Press, Volume LXIX, Issue 20904, 11 July 1933, Page 11

TRADE SUMMARY.

BRITISH MARKETS. MORE ACTIVITY. (UNITED TKKSS ASSOCIATION*—BY ELECTRIC I TELEGRAPH—COPYRIGHT.) LONDON, July 8. j On the Stock Exchange business has been greatly increased in the last few days as a result of the fall in the value of the dollar. Yesterday's dealings in industrials were the largest for a long period. Big buying orders for British equities came from the United States and the Continent, and even shipping shares, which have long been neglected, came into prominence. Other shares in demand were iron, steel, home rails, tea and rubber. With all this demand for industrials it was only natural that gilt-edgeds should be neglected, with slight reductions in prices. Australians were generally steady. j Butter Market. Although the stocks of butter in the cold stores at the end of June ex- j ceeded 1,300,000 boxes, there are signs that the position may improve before long. Consumption is still very large—according to one authority, far greater than at any previous time in the history of the trade—and at the present low retail prices It ought to continue on about the same scale. The quantities afloat from Australia, New Zealand, and Argentina are now 1767 tons less than at the same time in 1932, and, as the Australian shipments have been materially reduced, it is hoped that cold store stocks will show a similar reduction before long. Fruit. The apple market continues very depressed, which is not surprising considering the enormous quantities that have arrived from Australia and New Zealand. The total received in the United Kingdom and the Continent to July 4 was 5,776,000 boxes, in addition to 720,000 boxes of pears. The British market is also heavily supplied with soft fruits, which are selling cheaply, and consequently importers of New Zealand apples are putting them in cold store and selling only a few privately, in the hope that the position will improve by August, when supplies of soft fruits will be smaller. Australia's business methods regarding wine have been severely criticised in the Southard Company's Monthly Circular, which says: The Australian trade is being badly mismanaged, and production and shipments are not being controlled as they should be. Consequently the quality is not consistent, and 'prices have been cut to such an extent that the business is fast becoming unprofitable both to the shipper and distributor." IMPORTATIONS OF FLOUR. EFFECT OF LOWER FREIGHTS. The excessive importation of flour into the Dominion, against which growers have recently voiced protests, is considered by a man pro- j minently connected with milling to be partly the result of a substantial drop in the freight charges from Canada to New Zealand. These have now gone up again, he stated, and it was expected that the rise would assist in curbing the recent tendency. Another reason given by the same man was that the continued hostility of Auckland merchants to the wheat duties had deluded a number of persons into believing that New Zealand wheat, and consequently New Zealand flour, was of secondary quality to Canadian. The result of this was that northern merchants made quite substantial profit in dealing with imported flour, whereas they did not come into the picture in the disposal of Canterbury wheat to the Auckland millers, this dea' ng being done direct Any belief th~v New Zealand wheat was inferior to the imported article was disproved by the fact tfiat the Dominion's wheat had secured awards in the San Francisco exhibition of 1916, when competing with the best American and Canadian wheat, while the New Zealand Wheat Research Institute had definitely proved that there was no inferiority in the baking qualities of New Zealand wheat. PRICE OF SILVER. (BRITISH OFFICIAL WIBEUSS6.) RUGBY, July 9. Silver (pence an ounce) is quoted: July 7. July 9. Spot .. 18 5-16 18 1-16 Forward .. 18 7-16 18 3-16 AUCTION REPORT. Ford and Hadfield, Ltd., report that the bungalow property situated at 41 Sontner street has bien sold by Oxeta to Mr S, G. BoBSOUS.