LITTLE BUSINESS ON STOCK EXCHANGE TILL AFTER THE ELECTIONS

Manawatu Times, Volume LIV, Issue 6890, 22 April 1929, Page 7

LITTLE BUSINESS ON STOCK EXCHANGE TILL AFTER THE ELECTIONS

Budget Brings No Response COLONIAL INVESTMENTS COME MORE INTO FAVOUR EXPORT PEARS SELL WELL. Australian Press Association. Received Sunday, 7 p.m. LONDON, April 21. The Stock Exchange has entered upon a period of quiescence, which is likely to last until after the General Election, for business always becomes dull at election time. The May Day holiday and Whitsun holidays will also interrupt business next month, so there i 3 little probability of any activity developing until the elections are out of the way. Some people were hoping for a little spurt after the Budget, but as a fact, the markets are quieter than over, despite the fact that fears of an increase in the Bank rate have passed and money conditions have been easy. Although dullness reigns in all markets, it is satisfactory to note there have been no signs of weakness in investment stocks. Prices generally havo been , well maintained, though the Budget gave them no encouragement. The industrial market is almost lifeless. There is no appearance of anything like speculative activity. Tea shares got it little fillip from the abolition of the duty but other industrials have been neglected. Even cable and wireless companies, which recently wero in full swing, relapsed into something like stagnation. Many newspapers this week-end have a column advertisement on Colonial issues, headed “The sweet security of five per cent.’’ Investment in stocks of the Dominions and Colonies, combined with the absolute security of the capital and the certainty of the income being paid on due dates ,with a slightly higher income than that obtainable on similar stocks at Home, are being strongly emphasised. Glut of Apples. The condition of the apple markets, both in Britain and on the Continent is very unsatisfactory and prices realised are disappointing. The chief cause is undoubtedly heavy supplies of American box apples, which are glutting all markets. Importers are very pessimistic about the course of the markets for another month at least. After that time, there may be an improvement as American supplies will be nearing the end. It is satisfactory to bo able to report a firm market for pears, both Australian and New Zealand making good prices which should be maintained, as supplies from California are finished and South African arrivals are diminishing. Wool Outlook. A Bradford correspondent says the outlook for the next London wool sales, opening on April 30, is moderately good. “I see nothing to warrant anyone looking for higher prices but expect an all round good demand for both merino and crossbreds, at last sales values.’’