COMMERCIAL.

Grey River Argus, 9 January 1928, Page 6

COMMERCIAL.

Tariff. U.S. MANUFACTURERS PERTURBED. (’OST OF PIANOS DOUBLED. NEW YORK, January 7. A large number of inquiries and protests have been received by the local Australian Customs Office from American manufacturers, particularly those exporting an instrument to Australia that sells at approximately £4O, f.o.b. They point out that the new duties will practically double the cost of this instrument, and will virtually forbid exporting. They moreover protest against the imposition of larger rates for piano parts, stressing that Australia, while manufacturing pianos, does not make Silk stocking ami gramophone disc manufacturers ar? among those making inquiries, the last-named complaining of Ihe resultant doubling of prices due to the new duties. U.S. Brokerage Loan. KEEN ACTIVITY ON STOCK MARKET. NEW YORK. January 7. The Stock Market has experienced keen activity during the past few days of a variable nature, commencing on January sth, when many stocks fell considerably, causing speculators to drop out, and creating many millions of dollars paper losses. Strong recuperative power was shown next day, and culminated to-day in a burst of buying unseen for many months. The incentive for the market rush was President Coolidge’s statement after yesterday’s .close, that the recent sharp increases in brokerage loans were natural, and should cause no alarm. Such loans made to brokers for speculative purposes totalled last week 3810 million dollars. The prices of many issues soared to new high levels. The entire list participated in the half an hour advance, after which the profittaking and week-end selling partly erased their gains.