BRITISH TRADE

Hokitika Guardian, 2 November 1932, Page 3

BRITISH TRADE

FORTNIC HTLY RET lEW.

STOCK MARKETS

(United Press Association—By Electric

Teiegraph—Copyright)

LONDON. October 29.

Under the influence of’the deC'liim of ' sfeifiiig' 'the' Atocli markets nave been soriiewKkf nervy. 'British funds Were'’ finst " affected, blit; "hb’Z to ' any serious ’bxtent. 1 " The' doWrhvard' movement spread to speculative ' stpeks, but here again there Were no gfeat cHnesY' Thh "steadiness of sterling 1 n 'the., pdst few '' d'eys had a good effect .And the markets closed with a bright,er • hone* ‘ 'Australian Government .. Stacks hivb gi ven Way slightly "in sympathy' with British funds. Stra’hgoiy erlough, gold-rtiining ''shares generally Are easier,' despite 1 ' the Vise’•'fit the price of the Otheji ‘ Australian ; stocks,' like bank's and pastoral com - panies, are ; continuing to show a recovery froth "'the 'late, depression'! end the resirnlption of dividend-paying by Australian' mercantile and land, 'eoni'panies is regarded as 'a good o m enl According o the survey in the ‘ ‘Economist” of the Home industries, there has -been some increase' in activity in the past fivC Weeks blit'of go' parti il and moderate a "character that it is difficult to say whether it has attained normal ‘ seasonal dimensions. Manv leading indicators of the trade position point to no change, or to deterioration, but reports from many of the ciivef industrial centres refer to the improvement in tone and some accretion, of new. business.

Among the satisfactory features is the September return of the Retail Distributor’s Association, • showing a decline of only 3.6; per cent compared with 1931.' ' This' 1$ the smallest de-crease-'since April, and allowing for the fall of prices may mean that the volume of ,bdsimess has been „ maintained.

BUTTER- IMPORTERS ANXIOUS

The news that both Australian. and New Zealand are having exceptionally good.seasons and that .supplies cf btitVr* from there during Novemben arm December Will be heavy; are making mporters rather anxious regarding the clearance of., these large quantities, .Fortunately the consumptive denand.' continues gOodl. and*,*.-. despite the. heavy importations;’there lias been nq aocnmulation of stocks. The increase of Germany’s import quota to 'O,OOO tons should have the effect of ' : eeping a considerable quantity 'of Continental, butter especially : Danish! ff this market, blit it is considered very doubtful whether! Germany -can afford to buy such a large quantity, especially with the duty at 7.5 reichmarks a hundred kilos.

AUSTRALIAN ORANGES

The season's first large consignment of Australian oranges from New South Wales arrived in good condition and i considerable portion was ' sold to Yjitwerp bnyets, who were very-',keen, ■eduring them at prices, which are understood to be satisfactory, though, owing to the fluctuation in the exchange, it is impossible to state the ,field. The rest of the cargo, which will brave- next' week, is expected to sell readily, as the demand’is strong.

MEAT TRADE

As a -result’ of the Port Fairey’s successful'shipment of meat, importers .re - keenly discussing - the possibilities of the establishment of a regular trade n fhilled beef! One of the chief obstacles to satisfactory and profitable trade is the difficulty of securing suitable beef. One expert points out that if Austffdiah breeders, bopp successfully to compete with the Argentine, they must improve thelpualityjipf their herd!,; and,*; that nowPthpy ."’diave; a goldeii opportunity of cib'fig so moat advantageously*, as high-class pedigree stock can be bought at wonderfully’ cheap prices. At the sale of the famous C'oliyhie stud stock'hear Aberdeen -e.cenfty the,average’ price realised -was Oofi'for bulls and £29 for heifers, comohred with about £70(1 for bulls seven years ago. Canada bought heavily in viefr of the possible benefits from the Ottawa agreements. Further important' stock, sales' are being held' at Birmingham Perth and Aberdeen in February..