FINANCE AND TRADE

Hawke's Bay Tribune, Volume XXIII, Issue 106, 18 April 1933, Page 8

FINANCE AND TRADE

LONDON STOCK EXCHANGE CHEERFULNESS PREDOMINANT HOPES FOB CONTINUANCE LONDON, April 15. Cheerfulness reigned on the Stock Exchange when business closed for Easter, conditions having steadily improved throughout the week. Giltedged securities are particularly firm, 3J' per cent War Loan reaching the new record of 102 1-8. Several factors contributed to the improvement, notably a growing belief that the MacDonald-Roosevelt conversations will have good results, possibly deferment of the payment of the next instalment of the War Debt. Other “bull’’ points are the progress made in our negotiations regarding trade agreements with other nations, more optimistic views concerning the forthcoming Budget, especially the possibility of a reduction in beer duty, and last, but not least, the cheapness of money, which is regarded as likely to continue, and the reduction of the New York bank rate. All these gave reasonable hope for a continuance of buoyancy when business resumes on Tuesday. THE APPLE SEASON. MARKET FULLY SUPPLIED. LONDON, April 16. The apple season has not opened well, for first arrivals from Australia and New Zealand came on a market still abundantly supplied with American fruit, and although buyers naturally prefer newer fruit from the southern Dominions they are unable to exercise this preference to the full extent because a considerable proportion of the first arrivals were not as satisfactory as usual. In the early shipments much of the fruit was immature, and bitter-pit was very noticeable in Cox’s Ribstones from Tasmania, Victoria, West Australia and New Zealand, while some varieties appeared over-ripe. Consequently, prices realised so far are unsatisfactory and importers are becoming anxious about what might happen when really heavy quantities arrive a few weeks hence. Pears generally have done well except Victorian Williams, which arrived very wasty.