TRADE AND FINANCE

Evening Star, Issue 19221, 12 April 1926, Page 5

TRADE AND FINANCE

REVIEW OF THE MARKETS WOOL PROSPECTS GOOD DOMINION FRUIT U+NSATISFACTORY. Press Association —By Telegraph—Copyright LONTkJX, April 11. (Received April .12, at b.e a.m.) The Stock- Exchange is overshadowed by the serious situation in tho coal industry, and business in all departments is dull! This is particularly noticeable in industrial stocks, especially rub.bei and tin shares, which have been further affected by Hie fall in values of those commodities. Gilt-edged prices are mesilv steady. New South Wales scrip remains at, about 25s discount. Several new loans wero expected to make an appearance after Easter, but they have been delayed, apparently owing to the general uncertainty surrounding tho labor and political situation.

,\PI’LE MARKET DISAPPOINTING. The Australian find New Zealand apple season lifts not opened 100 Modi, the domain! not being as good as it might have boon, largely owing to the continued heavy arrivals ot American apples and I lie marketing of largo quantities of Americans which have been held in cold store Loro. Jbeto, despite the long storage, are of excellent quality and appearance, notably Newtown’s " Wines. Many buyers arc giving those preference over the dominions’ fruit, as the latter is not turning out altogether satisfactorily. There Is considerable hitterpit noticeable in many varieties, notably Cleopatras and Cox’s, and some of the fruit is decidedly immature. American competition seems likely to continue, as the stored stocks in the United States are reported to ho heavy. AUSTRALIAN WINES. Complaints aro being made of the poor quality of some of the recent arrivals of Australian sweet whies _of a, type which, according to one wine merchant, are of such- a character as to produce disastrous results, and almost break the heart of every wellwisher to the Australian sweet wine trade. These inferior wines, which were shipped when too young to stand the lengthy journey between Australia and llie Mother Land, have jeopardised a most promising future and trading possibilities. A loading firm of importers, writing in the trade l newspapers, suggests that the trouble was duo io the impossibility of foreseeing at the commencement that, there would he such a. largo demand, and that, stocks of matured '.vine would ho so soon exhausted. The firm adds: “If this business is to be saved the Commonwealth Government must refuse to grant the 4s per gallon bounty on any wines exported which do not reach a certain standard, quality, and ago.” FROZEN MEAT MARKET. Although the trade iu frozen mutton and beef continues to he disappointing, there has been a great improvement in the demand for Australian lamb, and, aided by a- certain amount of speculative inquiry, values have appreciated sharply, and practically the whole of the present fall in prices lias bemi recovered. The demand has been chiefly tor light-weight descriptions. Iml other grades have advanced in sympathy. Lamb arrivals have been small during the last few weeks, and Ibis has enabled values to bo maintained. lint there are sufficient lambs stored here to make operators anxious concerning the future. AVOOL OUTLOOK BRIGHT.

.Discussing; the wool situation, a wellinformed Bradford correspondent says; “The long-continued stability of tho wool prices this season lias been immensely beneficial to the industry by inducing contidenro and facilitating the at reasonable prices. It has also conduced to the extended use of (ho finest rale of tho fully-manufactured article ipialifles of wool, while there seems to he little doubt that the considerable publicity which in various wars has been rriven to (!)■> superiority of Brilis!i clothes, is at length producing pood resiiD in a greater demand for Bradford fabrics. A conspicuous feature of tho trade at the moment- is the demand for the very finest merino "ond's. Spinners and manufacturers of flic highest rpialiiy yarns and cloths

a.re busy in tbe cnnsiiinnl ion of merinos on n large sonic. ropmnkcrs stale (hot tlioy onn readily soil anything from 00‘s quality upwards, lint even below this tbero is no weakness. All pimgnwsticanons about the possibility of a fall in wool navo licen falsified, and now flint flic New Zealand season is closed and tbe end of ike Australian season is within sight, fliore is sound confidence flint flic raw material is on a solid foundation.--A. and N.Z. ("able.