TRADE FINANCE.

Manawatu Standard, Volume XLIII, Issue 433, 26 June 1922, Page 5

TRADE FINANCE.

STOCK EXCHANGE QUIET. MILD DEPRESSION PERIOD. LONDON, Juno 24. The improvement on the Stock Exchange which followed last week’s reduction in the bank rate proved only u Hash in the pan, and a period of mild depression set in. the investing public seems entirely apathetic, as is instanced by the poor result of the Indian loan issue, and the under writers are still nursing large amounts oi stock, Colonial issues show no improve nem. New South Wales scrip being' quoted at 105 s discount. The causes of tire depression are apparently the uncertainty of the Irish and international political affairs, the chaotic; state of foreign exchanges, and the delay in trade recovery, which, though considered to bo sure, is certainly very .low.

As tho newspaper Economist points out, although the reduction in coal prices, which were recently lowered by 9s per ton, shows dm tho demand, for coal for industry is .-till very feeble, there is evidence that the teeovery in trade is gradually gathering momentum. Raw cotton prices show an all-round recovery of a fat thing to a penny per pound. A belter demand is noticeable In the piece goods trade with China, though Indian business has not improved. Orders for pigiron have ho.-u received from the 1 tiiieci States and Germany, hut (he Home demand is quiet. The outlook for steel is

Hides are firm with a tendency to improve, and employment in the boot trade is better. Employment in tho heavy woollen trade i- better than at any period in the last two years. The machinery will run full lime lor several months. The chief demands come from Home bourns which are sending away small orders, fair shipments ■going lo the, Dominions, America and the Far East, and there are signs of improvement in the Continental trade.—A. and N.Z, cable.