TRADE REVIEW

Southland Times, Issue 20208, 20 June 1927, Page 7

TRADE REVIEW

MONEY AND MARKETS UNSETTLED AND UNSTABLE STOCK EXCHANGE BUSINESS DISAPPOINTING (By Telegraph—Press Assn.—Copyright.) (Rec. 5.5 p.m) London, June 18. Business on the Stock Exchange has been disappointing and though'there is no serious weakness apparent, most of the markets are in an unsettled state. The causes are not far to seek. They are specified by one financial expert, who writes: “The quarrel between Jugo-Slavia and Albania, the fresh outbreak of terrorism in Soviet Russia, and the strained relations between Poland and Russia, and disturbed conditions of the Berlin Bourse, to say nothing of the monetary uncertainty here, occasioned by the French demands for gold, all combine to make the outlook at the moment unusually obscure, while the anxiety regarding the’ coal industry at Home is again occasioning dullness in English railway stock. In this condition of affairs it is hardly surprising we have now the news of the Commonwealth Loan which has been expected for some time. An idea is now prevalent that it was not likely to come until monetary conditions are easier after the big interest payments on the first of July. WOOL MARKET FIRM. ‘"The wool market is firm and since last auctions there has been considerable business done at prices which seem to indicate there is no likelihood of any drop in values for some time to come.” The Economist's wool correspondent says: "There is proof of the existence of a hunger for wool in the fact that it is suggested that the next London auctions should be held earlier than July 5, the date originally fixed.” He adds that prices at these auctions are destined to be at the least slightly higher than in May and the forcing influence will probably come from Continental competition. APPLES REALISE GOOD PRICES. Apple prices continue satisfactory and the season now drawing to a close appears likely to show very satisfactory results. American apples continue to arrive but the market can absorb all that come for the soft fruit season has been a poor one. Strawberries, usually cheap and plentiful in mid-June, are very scarce and not obtainable even from the costermongers’ barrows under a shilling a pound, instead of the usual price of sixpence. Cherries and other small fruits are also scarce and dear. The competition of American apples has been less acute than for some previous years but still the imports have been considerable. Some Covent Garden importers are, therefore, considering whether it would be possible to induce the Government to prohibit the sale and importation of Americans during April, May and June. They state that the whole American crop is gathered in by October, and large quantities are placed in cold store in order to supply Britain practically the whole year. It is suggested it would not be a great hardship if the Americans were compelled to market their apples during the nine months from July to March, leaving the Empire fruits a clear market during April, May and June. The proposers of this plan recognise it may be difficult for the Government to enforce prohibition, but representations in that connection are being made to the Empire Marketing Board. EGG TRADE. As far as can be seen at present the prospects of the Australian and New Zealand egg trade seem favourable. It is reported that the quantity of eggs stored for winter consumption is smaller than last year, as storing then proved unprofitable, with the result that producers have been selling more freely. Importers are anxious to impress upon shippers the necessity for paying greater attention to packing as last year there were several instances of serious loss through the fillers not being stout enough. The importers also recommend that shippers should not send eggs weighing less than fifteen pounds per 120. —A. and N.Z.