BRITISH TRADE

Hokitika Guardian, 21 November 1928, Page 2

BRITISH TRADE

FOR TNrGHTLY KEY IE IV

GILT-EDGED SECURITIES IX DEMAND.

(United Press Association By Elect ri

Telegraph—Copyright)

LONDON Nov. 17

Conditions on the Stock Exchange during the past fortnight have been much the same as those cabled on Nov. 3rd. The shake-out in speculative .-bares lias continued, and the prices of these have generally declined. On the ether band gilt-edgeds have gone from strength to strength, a feature being tile record price of the 5 per cent. Mar Loan, which touched DlOl 17s (id.

ex dividend, which is equivalent to £lO4. Four per cent. Consols and the 31r Conversion Loan have also been particularly good, and the buoyancy of these three stocks led to renewed talk of an early Government issue to meet maturities, which are due in 1929.

WOOL TRADE

Everything points to a satisfactory opening on Tuesday of the last series of wool sales for the year, and the general anticipation is that prices will be from 5 to 7.} per cent, above October rates. There have been considerable private sales during the past fortnight .at about this level, and there are indications of a broadening demand as undoubtedly the position at the manufacturing end of the trade, both at Home and abroad, shows that some of the improvement of the primary markets in Australia. Argentina and New Zealand, is being reflected hero, and users are beginning to abandon the hope to which they clung for some time of the possibility of cheaper woo] in the near future.

AUSTRALAN ORANGES

A thorough examination of the E-~ IM'ranee Bay’s 0000 eases of New South Wales Valencia oranges shows that the waste is not so serious as at first appeared, ranging from 3 to 8 per cent. Considering that the fruit was delayed two or three weeks after loading, owing to the strike, the turn-out must be regarded as fairly satisfactory. Unfortunately the market is not so good for many South African oranges are still on offer, and first arrivals of Spanish have been selling this week. Hie prices of the New South AValcs fruit mostly ranged from 11s to 16s. a few smaller counts making USs to 20s. South Africans are fetching from 15s to 225.

EGG TRADE

This season’s first large parcel of Australian eggs, which arrived on the Esperance Bay, lias been marketed this

W eek under somewhat difficult ronditionn. for though supplies of English and Danish new-laid eggs are getting .scarce, the mild veatltcr on the Continent has resulted in heavy shipments fix mi there, and supplies from South ij'rica. Argentina and l rugiiay arc also plentiful, consequently the market is well supplied with eggs suitable | :y the two-penny retail trade, anil it ha- been no easy matter to sell Australians at the prices asked 17s fid to r.t- for 120 although the quality and condition of the Espcranec Bay’s eggs are excellent, especially those from New South M'ales.