CHANGE QUIET

Northern Advocate, 22 April 1929, Page 6

CHANGE QUIET

PERIOD OF QUIESCENCE DULLNESS IN ALL MARKETS. INVESTMENT STOCKS SOUND. (Australian Press Association.) (Received 9.8 a.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 the Whitsun holidays will also interrupt business next month, so there is 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 ever.

Despite the fact that the 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 that there has been no signs of weakness in investment stocks and prices generally have been well maintained, though the Budget gave them no encouragement. . INDUSTRIALS LIFELESS. The industrial market is almost lifeless and there is no appearance of anything like speculative activity. Tin shares got a little fillip from the abolition of the duty, but other industrials have been neglected. Even the cables and wireless companies, which were recently full of vigour, relapsed into something like stagnation. "SWEET SECURITY.” 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 capital and certainty of income paid on clue dates, with slightly higher income than obtainable on similar stocks at Home, are points being strongly emphasised. UNSATISFACTORY. The condition of the apple markets both in Britain and on the Continent, is very unsatisfactory and the prices realised are disappointing. The chief cause is undoubtedly the heavy supplies of American box apples which are glutting all the 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. GOOD PRICES RULING. It is satisfactory to be 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 that the outlook for the next London wool sales, opening .on April SO, is moderately good. He states: I see nothing to warrant anyone looking for higher prices, but expect an all-round good demand for both merinos and crossbreds at last sales values.”