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Poverty Bay Herald, Volume LXIV, Issue 19374, 12 July 1937, Page 5

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WEEK ON MARKETS BRITISH TRADE TRENDS SLUMP FEARS DECREASE (Elec. Tel. Copyright—United Press Assn.) ,Recd. July 12, 11.50 a.m.) LONDON, July 11. The optimistic review of the trade position and outlook given by’ the Prime Minister, Mr. Neville Chamberlain, caused the stock markets to finish the week with gratifying cheerfulness.

The majoriy of City businessmen consider that the Chancellor’s confidence that an early slump would be impossible is justified. Few remain unconverted, while others point out that while a general depression is most improbable a localised crisis in the heavy industries will be inevitable when the huge additional rearmament plant is no longer needed, unless careful and elaborate plans are made far ahead.

The wool sales again emphasised the strength of raw materials. Combing merinos are wanted, but they are still scarce and some traders expect, a definite shortage. Bradford stock's of this, and indeed of all types of wools, are low. Competition at the sales has been fairly general.

Temporary Butter Shortage

A temporary shortage of butter created an unexpected demand, but traders do not anticipate any further rapid improvement. , Substantial arrivals of Russian butter can now be expected.

Some traders, In commenting on the improvement in the consumption of Empire butter, expect the Dominion and Danish products to run closer together than previously. The fruit season is closing with gratifying strength. Such considerable rises at the end of the season are unknown in the history of the trade. Meat remained moderately firm despite the decline in consumption. Arrivals of chilled beef have been unhappily irregular, this resulting in a glut for some weeks and a scarcity in others. Some shipments were in a bad condition and considerable quantities were condemned as unfit for consumption.