MARKET REVIEW

Hawera Star, Volume XLVII, 24 September 1928, Page 5

MARKET REVIEW

TENDENCIES AT HOME. GOOD AND BAD FEATURES. THE OUTLOOK FOR TRADE. As&oeiAtic>»r-'By Electric C-opyright.) ( a iixtraliuu Press Association J Received 10.15 a.m. to-day. LONDON, Sept. 22. Stock exchange markets for tile last week (have 'been showing a .somewhat hesitating tendency. Gilted-ges are in a quiet, subdued mood, being under the influence of an unceikain monetary situation. The market is hardly likely to improve while the sterling gj:change continues to fluctuate around the point at which gold shipments to the United States are profitable. Though the giltedged market is -dull, pi ices show- no serious downward -movement- and a satisfactory feature is that the colonial issues are steady. Industrials have been the one section in -which activity has been shown, and. there is a- considerable speculative business, particularly in gramophone shares. The mioffilh-ly review' of the Westminster Bank contains a well balanced article on the trade outlook, which records iboth the favourable and unfavourable features of the situation. The writer says ‘ ‘ 'The -setback to certain brandies of national activity during the past few months has been of significant dimensions, and the outlook for the coming autumn and winter are accordingly less favourable than might liiave been -hoped for six months ago. It would be -idle to overlook the presence of retrogressive economic tendencies or to deny°tlieir share in bringing about the present situation. On ehe other hand, the review takes a somewhat hopeful view of the situation from the fact that there are possibilities for nationalisation; receiving more practical consideration in a wide range ot industries than, at any time since the war. Another reason for inducing the writer to- take a more hopeful outlook are the -facts that the world s harvest of -foodstuffs and of raw materials are on a bountiful scale and a good feature at home is the tendency towards a little -more co-operation between capita,! and labour, in seeking a solution of some of our economic problems.

IRON AND STEEL TRADES. “The weekly -report of the London Iron arid Steel Esidhange sounds a pleasantly optimistic note. It “The market is developing a- distinctly healthy tone. The autumn demand has not yet fully matured, but x-he prospects are -decidedly good, as far as can be judged -by increasing volume of enquiry which has been circulated, bat-h on Home -and export account. Though tlh-3 bii'9in*es/s in "the British works has been largely hand-to-mouth, there are signs that consumers are inclined to place forward contracts oversea. tne oua -os ‘dn Suii[Tf.\v eqi oq. jnaedJdn sq-a-ijunui position is brighter than it has been for some time.” THE WOOL OUTLOOK. Commenting on the wool position, the “Economist’s” Bradford correspondent (Says : “There are distinct signs of weakening in the wool position, -and there seems to be some prospect of wool -being obtainable m the near future on a basis more in keeping with what the -users can, afford to pay. Confidence has been -shaken and business in tops and yarns will- be erratic! until a new level of values has been established. The danger is that the decline mlay be earned tco far, just- as the rise was overdone and m view' ot the uncertainty, bbth spinners and manufacturers will certainly operate with extreme caution during the next few weeks.” FROZEN RABBITS . The new season’s Australian frozen rabbits are beginning to arrive and -reports on the first shipments are- very favourable. At present the demand is slow, owing to the continuance of summer weather, but -as soon as we have a cold spell the inquiry will certainly be good, -so trade newspapers a-re advising retailers to buy now and put into cold store. The present prices are 33 s to 38s per case of 24 rabbits.