COMMERCIAL

Greymouth Evening Star, 16 April 1940, Page 5

COMMERCIAL

LONDON MARKETS

[BY CABLE —PRESS ASSN. —COPYRIGHT,]

LONDON, April 14

The extension of hostilities to Scandinavia. will have an enormously widespread and important effect on world trade. Apart from the field of economic warfare there are numerous industries which must be seriously readjusted to meet both the closing of the old-established markets and the stoppage of sources of supply. Denmark, a head of population, is easily Britain’s best foreign customer, but it would be blind pessimism to assume that Germany is less affected than the Allies.

The “Economist.” reveals the extent of Hitler’s gamble, and says that Germany, will get the whole of Denmark’s exports instead of part, for the next few months, but when the .existing grass fails and no more grain can be imported, Denmark will be a liability instead of an asset. Britain has secured one-quarter of her imported butter from Denmark, but traders say that with the exceptionally good seasons both in Australia and New Zealand, and also large supplies coming from the Continent in the last few months, Britain’s stock of butter must be very good indeed. However, she will be more, dependent on Australian and New Zealand'supplies. Holland is the only continental exporter lilfly to maintain useful quantities.

The stoppage of Scandinavian iron ore supplies, which may be only temporary, will seriously affect, the British iron and steel industry, but Britain is free to draw upon many British and French sources. On the other hand Germany is cut off from all sources except Luxemburg.

AUCKLAND WOOI

AUCKLAND, April 15.

The wool cheque for the Auckland Province this season totalled £ 1,375,086, a figure which has been exceeded only once in recent years. This is the fourth year in succession that the realisation has topped the £1,000,000 mark, the distribution last season being £ 1,061,743. The record of £1,528,545 was established in 1936-37.

STOCKS AND SHARES.

CHRISTCHURCH, April 16. Sales: Govt. 1935-57 Stock £lOO New Zealand Refrig. 4/4, Kaiapoi Wool (7/- paid) 5/3, Grey River 18/6 (3). ! Reported: New Zealand Breweries 39/6. Unlisted on Change: Associated Gold Dredges 12/9. WELLINGTON, ’April 16. Sales reported: Bank of New Zealand 43/6. MINING RETURNS. CLUTHA RIVER. The Clutha River return is 620 z for 130 hours. GILLESPIE’S BEACH. The Gillespie’s Beach return for the vzeek ended April 13 is 290 z 14dwt for 127 hours and 16,000 yards. ADDISON’S. WESTPORT, April 16. The Addison’s gold return for the fortnight ended April 11 was 27 ounces, for 28£ shifts worked. WELLING TON A LLU VIA LS. WELLINGTON, April 16. The Wellington Alluvials (Melbourne) report states that, Uie dredge worked 477 hours, handling 216,000 yards, and recovered bullion estimated to contain 1,423 ounces of fine gold.