BRITISH TRADE

Evening Star, Issue 18715, 18 August 1924, Page 6

BRITISH TRADE

LONDON'S FORTNIGHTLY REVIEW.

PROSPECTS OF IMPROVEMENT.

Press Association—By Telegraph—Copyright.

LONDON, August 16. A holiday feeling prevails on the Stock Exchange, and conditions are very quiet, except for a little activity in some oi the more speculative sections. The general tone is quite optimistic regarding the result, of the London Conference, and this (view has been reflected in the appreciation of tho sterling exchanges on New York. This has had a stimulating effect on the gilt-edged securities, enabling them to withstand the effects of tho stringency of money, and the markets closed with gilt-edged stock firmer all round. The prospect of the success of tho conference also caused an improvement in German bonds.

Regarding trade prospects, the ‘Statist,, in its (half-yearly review, says i “ The general outlook for British business is brighter than at any time since the commencement of the depression in 1920, mainly because of the favorable developments of the past half-year in tho field of European reconstruction. In addition to tho financial recovery of Hungary and Poland, and the undoubted improvement in tiie financial conditions of many other Continental nations, there is tho outstanding fact that a desire for peace has oti last been established in tho long-standing and embittered reparations struggle, which has so far blocked all comprehensive plans of European reconstruction.” Tho ' Statist ’ admits that it is true that there are other elements in the political situation which are less favorable, and mentions, among others, the troubles regarding Russia, Mexico, India, East Africa, South Africa, tho Sudan, and Mesopotamia- "Furthermore,” it says, “ the business situation hero is stagnant, part of tho very pronounced improvement which commenced last September having been lost during recent months. This setback, however,, appears to be only temporary, and, given an assured settlement of tho reparations question, there is practically certain to be a fresh improvement in the closing months of the year.” DRIED FRUITS. Dried fruits are meeting with a better demand. The market for Greek currants is unsettled after a sharp advance, which jvm duo to speculative buying owing to reports of damage by rain and the possible imposition of an export duty of 10 iper cent., and shippers have withdrawn all the new season’s quotations. Australians show advanced prices, choice soiling at 56s to 58s. These are scarce, the bulk of the offerings being of poor quality, which are realising 60s to 525, while medium are worth 465. Australian sultanas are in largo supply, and are meeting with a good demand. Choice are quoted at 55s to 58s; medium, 53s to jass; poor, 50s to 525. New arrivals of loxias are selling freely at 46s to 50s, BUTTER. Tiro demand for butter continues brisk, and, though the imports for July amounted to 445,413 cwt, which is 24,0000 wt above July, 1923, prices continue io harden. Apparently the new arrivals have been well absorbed, in addition to a quantity of cold-stored stocks. Germany is still freely buying Esthonian and Latvian butter, and also Danish, enabling the Danes to raise their prices. Retailers here have advanced tho prices to Is lOd, 2s, and 2s 2d per lb, according to the quality, and (bis may affect the consumption, especially as the margarine manufacturers are taking advantage of the dearness of butter to push their article to the utmost. EMPIRE WINES.

According to one of tho wine trade journals, the Wembley Exhibition is helping the sale of Empire wines in a gratifying way. A prominent trader informs thus newspaper that since the Exhibition hnfl got fully Into its stride his sales of Empire wines have increased by leaps and bounds, with a corresponding drop in French wines. In this connection it is interesting to note that, though' tho July imports of Australian wines were small, the imports for the first seven months of tho year were 495,0-rd gallons, which is nearly 150 gallons in excess of tho same period last year.—A. and N.Z. Cable,