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Hokitika Guardian, 3 May 1938, Page 5

COMMERCIAL

TRADE REPORT. ([United Press Association—By Electric 1 elegraph-^-Copyright) LON(DON, May 1. Most of the Budget commentators have overlooked the, significant fact that the Chancellor does not expect any further decline / iii the activity of markets or in trade generally. The Budget clearly shows that the Treasury admits a recession. but thinks the state of trade sufficiently strong to withstand even the shock of additional taxation. The official view of the outlook is thus for firm hut dull markets. Commodities have had a poor week. The wheat market is naturally watching the Government’s policy most closely. Metals and rubbers are easier as a result of disappointing American consumption.',':^ Dairy Produce. j Butter remains very firm, with good speculative inquiry in anticipation of reduced arrivals from New Zealand in July and August, but cheese has belied hopes of a similar improvement, holders becoming dissatisfied and being inclined to encourage buyers with lower prices. The market is likely to be dull for some time. Optimism in Wool. Bradford is more optimistic over the wool outlook. A tew traders are con ducting operations in expectation of cheaper wool, hut there is little new business. Retailers seem’ to have been over-bought and have big stocks to clfear, but a healthy sign is the public demand, which shows no indication of diminishing.