OVERSEAS MARKETS

Poverty Bay Herald, Volume LXIII, Issue 19029, 1 June 1936, Page 13

OVERSEAS MARKETS

COMMODITIES EASIER BUTTER AN EXCEPTION (Reed. June 1, 3 p.m.) LONDON, May 31. A feature, of the commodity markets has been the heavy declines; ill tin and wheat. Confidence in the outlook foi tin disappeared as the decision of the International Tin Committee to postpone fixing the quota, drew attention to dissensions among various producers. The improvement in the market foi butter continues, Tooley Street merchants consider that the market is heading for definitely higher prices, the main activity being concentrated on New Zealand descriptions. Australian is rather quiet. Arrivals of fruit were again very heavv, hut the proximity of the Whitsun holidays resulted in easier prices. Interest' in the stock markets M negligible owing to the Derby and. Whitsun holidays. Gilt-edged securities remain weak, and industrials are barely supported. Australian.' stocks are affected by the current dullness, but a leadinc firm of stockbrokers drew attention re the. discrepancy between Australian and New Zealand 'issues. They instance the New Zealand 3 per cents at £99, and Australian at £94. The firm points out that Australia has a record of conservalive finance and shows a- satisfactory export surnlus. while New Zealand ha? nationalised the Reserve Bank and seems to have, resolved on a financial, dictatorship. ____—•