A GENERAL UPLIFT

Gisborne Times, Volume LXXIII, Issue 11946, 17 May 1933, Page 5

A GENERAL UPLIFT

RISE IN PRICES. BUSINESS- ALAN’S COMMENT dominion VITALLY interested —r— —- Comment on the rise in pricei during the past three or four weeks of. a number of .products in which J(ew Zealand is yitally interested Was made on Monday by Mr j. T. Alartin, managing director of Wright Stephenson and’Co. 'Ltd; Whether 'this in prices was tlio result of -cpnjMence inspired- by tho possibilities of; the World Economic Conference in June, or appreciation, of tho fact that surplus stocks in many departments are not heavy or prices abnormally ]ow, Mr. Martin said: he could net say, hut tho fact remained that there ff as a general uplift. “Pruing the last three and a half years, prices havo been steadily .falling, with occasional breaks-followed tv a drop, to a still' lower .level”:, Mr Aiartin said. “The present upward trend is wider spread than any former movements of tho last few years, and might be .the percursof of the funeral advance in prices which the ■yorld has been so long waiting.

.BEST TRADE BAROMETERS h are recognised as tie best trade barometers. Take the advances during '.he last" four" weeks; Copper rr.s advanced from £29 17s 6d .to £34 10s 7d; lead from £lo.'l7s 6d) to £l2 8s Pd, spelter from £l4 17s 6d to £ls iq Si and tin from £166 11s 3d- to £lB7 16s 9d. •■'New Zealand, dairy produce has made a considerable advance due mainly to rumors of Government quota restrictions, but also possibly influenced by prospective reduction in tariff barriers on the Continent. On April 20 finest Now Zealand butter ivas bringing 6Ss a cwt. and cheese "Q s a cwt in London. To-day butter i s 80s and cheese 49s for white, and 54s for ■ colored, London.

“Jute has advanced in the same period from £ls 10s to £l7. 6s 3d, cornstacks from 9s 3d to 9s 9d a dozen, wool-packs 2s 7d to 2s lid New Zealand, cotton 5.73 d a. lb and rubber 3d to 4gd lb. AVool is showing an appreciable advance and. the undercurrent is firm, inducing close observers to believe that higher prices will bo experienced' at subsequent. London sales. “Grass-seed, particularly .cocksfoot, crested Jogtail, brown-top and clovers, for whidh New Zealand has established a great reputation in [Northern Hemisphere countries, are decidedly on the !up-grade. A strong demand has set 'in for sample and garden peas grown in Canterbury and Marlborough districts. A grade Garton oats, which a few weeks hack were selling at Is lid per bushel, (are now 2s 4d at lßuff and Dunedin. “Lamb and mutton have not yet shared in the general upward movement. Rabbitskins and sheepskins are up and tending higher, i “If the American Smoot-Hawley tariff which has been in operation for tho last three years is modified or substituted by the old McCoomber Jones tariff, and there is good reason for believing that this will be one of tho .results of the World Conference in June, then we can look hopefully forward to trading again with the United States, as we chd P>' 0r to 1929.