EXCHANGE QUIET.

Horowhenua Chronicle, 21 May 1928, Page 7

EXCHANGE QUIET.

SPECULATORS HARD HIT BY

FALL

Received Sunday 5.5 p.m. LONDON, May 19. The Stock Exchange has relapsed into a condition of comparative quietude, which is a remarkable change from the feverish activity in speculative shares which has prevailed for several weeks.

There has been considerable profit taking and many speculators have been hit by the fall in prices, some gramophones, artificial silks, and iron and steel issues being almost as marked in fall as the rise which immediately preceded it. Mining shares have also participated in the setback. Wool Prices Hardening. Discussing the wool outlook, a Bradford, corrospomlmt writes; “Prices in London show a hardening tendency as sales proceed and hope of cheaper raw material has receded to the background. Consequently spinners have shown more disposition to undertake further operations, the. result being that some firms had a fairly substantial turnover although the buying movement has not become so general as to have any striking effect on quotations. But the position of toi» makers has been strengthened and a definite advance soon would not bo surprising. “It is the opinion in responsible quarters that wool is more likely to be dearer than cheaper later on.” Apple Demand Satisfactory. The demand for apples continues satisfactory but importers find it impossible to realise higher prices as supplies continue heavy with arrivals from Australia and New Zealand aggregating' nearly 300,000 cases weekly. The condition of the fruit generally lias been good, but one or two cargoes have, arrived in a very advanced state aril have consequently been sold at low prices. Pears are meeting with excellent demand as Australia and New Zealand have the market practically to themselves, fetching high prices. Keeping out Cherry Ply. The continuance of the cold spell on the Continent makes it certain that the early French cherry crop will be small. Indeed our supplies of foreign cherries will be much below usual, for the Ministry of Agriculture, with the object of jircvcnting the introduction of the cherry fly, has prohibited the importation for foreign cherries from South France after June 6, from Central France after Juno 12, and from Northern France after June 21.' All Italians are prohibited after Juno 16. Thus we shall not have the competition of cheap cherries wherewith our markets arc usually glutted during June and the first half of July. The British strawberry crop has been affected to some extend by frost but a good yield is anticijiated.