BRITISH TRADE REVIEW

Dominion, Volume 19, Issue 237, 21 June 1926, Page 7

BRITISH TRADE REVIEW

CONFIDENT FEELING ON STOCK EXCHANGE PLENTY OF MONEY AVAILABLE FOR INVESTMENT NEW ZEALAND BUTTER TOPS DANISH Confidence continues to be displayed by the London Stock Exchange, where firmness in nearly all sections is noted. There are indications that plenty of money Is available for investment purposes. Bi Telegraph.—Press Association, copyright. (Reo. June 20, 5.5 p-ra.) London, June 19. Despite the prolongation of the coal dispute and the absence of any signs of an early settlement, the Stock Exchange maintains a confident feeling, and firmness characterises most sections. Even Home railway stocks, the , dividends on which may be affected, show only small declines in values, and all gilt-edged securities are firmer, notwithstanding the competition of new issues. There have been several trustee stocks? issued during the past fortnight, all of which were rapidly over-subscribed. Their success may be regarded as an indication that there is plenty of money available for investment purposes, llie prospects are therefore hopeful for the Commonwealth loan, which is expected to be issued early next week. Nothing is ascertainable regarding its price, teit as the recent New Zealand and Victorian 5 per cent, loans, which were issued at 981, now stand at premiums of 1-16 and » respectively, the Stock ®«hange would not be surprised to see the Com monwealth price at 99. Apple Trade Fairly Good. Considering the heavy arrivals of apples from Australia and New Zealand Suring the past three weeks, the trade been fairly satisfactory. Knees have-not given'way to the extent j that some people anticipated. This w largely due to the cold rainy weather chec intr the growth of strawberries and other small frnits, and to the partial prohibition of the importation of French cherries owing to the prevalence of nmggots of the cherry fruit fly. The. Ministry of Agriculture forbids the importation of all cherries unaccompanied by an official certificate that they cm from a non-infected district Several recent Australian steamers brought a considerable number of wasty apples, which were only saleable at low pnce B » but good hard apples continue to meet a satisfactory demand. Butter Market. .A feature of the butter market durin" the week has been Danish selling at the same price as Australian and 2s. and 4s. below New Zealand. This is one of the effects of the coal .strike and the consequent trade depression in the Midlands and North of E n lf lanil ’ is the principal market for Danish butter, the production of which is now very large. Germany is now taking practically no. Danish butter,, so the whole export is sent to. Britain. Tho low price of Danish quickly attracted buyers and much was brought for storage, with the result that the price recovered to 1765. and. 178 s which is about on a parity with New Zealand. Australian is quoted at l<2s. and U6s. Wine Imports Drop. The general strike had an apprecialf. effect on our wine imports. Numerous’ Continental shippers, fearing that the strike might last a long time, reduced the amount of their exports to Britain and others stopped shipments altogether, with the result that the total imports in May from foreign countries were only 983,000' gallons, a decline of 390,000 gallons compared with May, 1925. Australia, on the other hand, showed a satisfactory increase, the months imports amounting to 77,995 gallons' compared with 61,500 last year.—Aus.-N.Z. Cable Assn.