BRITISH TRADE.

Manawatu Standard, Volume XLVI, Issue 171, 21 June 1926, Page 7

BRITISH TRADE.

STOCK EXCHANGE FIRM. PLENTY OF MONEY AVAILABLE. LONDON, June 19. Despite the prolongation of the coal dispute and the absence of any signs of an early settlement, the Stock Exchange maintains confident feeling, and firmness characterises most sections. Even Home railway stocks, the dividends on which may be affected, show only small declines in values, and all gilt-edged securities are firmer, notwithstanding the competition of new issues. There have been several trustee stocks issued during the past fortnight, all of which were rapidly over-subscribed. Their success may be regarded as an indication that , there is plenty of money available for investment purposes. The prospects are therefore hopeful for the Commonwealth loan, which is expected to be issued early next week. Nothing is ascertainable regarding its price, but as the recent New Zealand and Victorian 5 per cent loans, which were issued at 98}, now stand at premiums of 2 1-16 and § respectively, the Stock Exchange would not be surprised to see the Commonwealth price at 99. APPLE TRADE SATISFACTORY. Considering the heavy arrivals of apples from Australia and New Zealand during the past three weeks, the trade has been fairly satisfactory. Prices have not given way to the extent that some people anticipated. This is largely duo to the cold, rainy weather checking the growth of strawberries and other small fruits, and to the partial prohibition of tho importation of French cherries owing to the prevalence of maggots of the cherry fruit fly, The Ministry of Agriculture forbids the importation of all cherries unaccompanied by an official certificate that thej' come from a non-infected district. Several / recent Australian steamers brought a considerable number of wasty apples, which were only saleable at low prices, but good hard, apples continue to meet a satisfactory demand. IMPORTS OF WINE. The general strike Had an appreciable effect on our wine imports. Numerous Continental shippers, fearing that the strike might last a long time, reduoed the amount of their exports to Britain and others stopped shipments altogether, with the result. that the total imports • in May from foreign countries were only 983,000 gallons, a decline of 390,000 gallons compared with May, 1925. Australia, on the other hand, showed a satisfactory increase, tho month’s imports, amounting to 77,995 gallons compared with 64,500 last year.—A. and N.Z. cable.