ACTIVE MARKET

Hawera Star, Volume XLVII, 29 August 1927, Page 5

ACTIVE MARKET

FOR INDUSTRIAL SHARES.

COLONIAL BUTTER TRADE. PROSPECTS CONSIDERED GOOD. •v PRKSS ASSOCIATION —OOPYHIOHI Received 9.30 -a.in. to-day. LONDON, Aug. 27. Activity in industrial shares has been a feature of the Stock Exchange throughout August, and instead of stagnation, which usually marks- this holiday m<*nth. there has been considerable liveliness in almost all departments of the. miscellaneous market, with prices higher all round. One of the most active sections has been artificial silk shares, which have been experiencing what can almost be described as a boon, and this received fresh in m pet us yesterday, when it was announced that Courtaulds- Ltd., which has a capital of £20,00.000, had decided to exercise its option to work the Lilienfield process for manufacturing artificial silks. This- is taken as an indication of a further increase.in production of artificial silks, which has already begun to assume important dimensions. The development of this industry will be watched with interest, in vewof the extent to which artificial silk is coming into competition with wool.

AUSTRALIAN BORROWING. * Commenting on Australia’s New York loan, the newspaper “Statist says: “Ensuing exchange operations should prove a welcome source of strength for the sterling during the difficult months lying ahead. Evidently borrowing in Now York is to become a permanent feature of Australian finance. This development should be genuinely welcomed.’ ’

YYOOL PROSPECTS. Discussing the woo] outlook, the “Economist’s” Bradford correspondent says: “Many close observers of trade conditions predict firm to hardening prices during the next three months, but they do not. appear to be too sure as to what will happen later. .However, there is general confidence in the immediate future of value. Topmakers are adopting a very firm attitude in the discussion of new business. All qualities of tops are well ahead of late rates, but it is difficult to induce spinners to pay more money, except for small lots' urgently required,” Another wool expert writes: “The maintenance of .prices for Australian wool in the near'future appears to be fairly well assured. There does not seeni quite the same optimistic tone in France, but all reports from Germany are to the effect that the machinery is well employed. The only immediate indication in the home trade of anything in the way of an advance in raw material values is the .smallness. of stocks. Machinery consumption might be verv much better.”

DAIRY PRODUCE. The butter position appears to be very sound, and the- opinion generally held is that prices will harden. At present there is not much activity in Colonial, but the undertone is strong, as there is not much Australian availabel here, and stored stocks of New Zealand and other sorts are moderate. Additional strength is given to the position by the receipt of cables that large shipments from Australia will not be made till late in October or November. As Continental stocks are being greatly reduced, largely, through German buying, and Argentine supplies are resticted owing to drought, there may be a shortage of butter before the new Australian arrives,

FRUIT. The dried fruit trade has been showing an improvement, and stocks of Australian currants and lexias have practically been cleared. Sultanas are also meeting with better demand, especially for the cheaper grades. This is satisfactory, as stocks of this sort are plentiful. Oranges have declined materially in value this week, owing to abnormal supplies of South. African. Further heavy supplies are expected shortly, and prices are likely to go lower, so perhaps it is well that pros>pective arrivals of Australian oranges ■onlv amount to a few hundred boxes.