MARKETS IMPROVE

Otago Daily Times, Issue 23222, 21 June 1937, Page 9

MARKETS IMPROVE

MORE HOPEFUL OUTLOOK BUSINESSMEN'S CONFIDENCE " PRESENT SLUMP IRRATIONAL " (United Press Association) (By Elentric Telegraph -Copyright) LONDON, June 19. (Received June 20, at 6.30 p.m.) The markets at last have begun to show signs of the long-awaited improvement. The immediate outlook is viewed with decidedly more hopefulness and a considerable number of responsible City businessmen have taken an even brighter view of the long-term trend. They regard the present slump as irrational, due to groundless fears.

The stock markets are quiet but erratic. The most notable feature was the sharp turn upwards in rubber values at the end of the week. Many dealers believe that the market has touched bottom. The consumption figures of the United States are regarded as good. The metal markets are " thin," being dependent on developments in the United States, but quotations for tin remained remarkably steady. FIRM UNDERTONE • The butter market is quiet but sellers are disinclined to take offers. The undertone of the market is firm, though the advance to higher levels is likely to be slow and unprofitable. Production in Northern Europe has reached its peak. The margin between Danish best and Empire butter is negligible. The multiple stores have advanced the retail prices, but the consumption is always good at this time of the year.

The trade in fresh fruit continues good, despite heavy arrivals. The condition of the apples has been fairly good. The Imperial Conference has not affected the markets, though the stabilisation schemes in which the city was most interested were discussed. The conference gave no hope for a lead. Opinion on the desirability of stabilisation is believed to have been divided within as well as outside the conference.