UNREST AFFECTS TRADE

Taranaki Daily News, 20 June 1927, Page 9

UNREST AFFECTS TRADE

STOCK EXCHANGE IS QUIET PROSPECT FOR WOOL BRIGHT A GOOD SEASON FOR FRUIT By Telegraph—Pres. Assn.—Copyright. Received Juno 19, 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-Sla-via and Albania, the fresh outbreak of terrorism in Soviet Russia, the strained relations between Poland and Russia, the 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 that we have had no news of the Commonwealth loan which has been expected for some time. The idea now prevails that it is not likely to come until the monetary conditions are easier after the big interest payments on July 1. The wool market is firm, and since the last auctions there has been considerable business done at prices which seem to indicate that 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 that suggests that the next London auctions should bo held earlier than July 5, the date originally fixed.” He adds that the prices at these auctions are destined to be at least slightly higher than the May prices and the forcing influence will probably come from Continental competition. 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 ean absorb all that come forward. 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 at under Is a pound instead of the usual price of 6d. Cherries and other small fruits are also scarce and dear. The competition of American apples has been less acute than in some previous years, but still imports have been considerable. Some Covent Garden importers are therefore considering whether it would be possible to induce the Government to prohibit the sale or importation of American apples during April, May and June. They point out that the whole American crop is gathered in by October and large quantities are placed in cold storage in order to supply Britain during practically the whole year. It is suggested that 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 Empire fruits a clear market during April, May and June. The proposers of this plan recognise that it may be difficult for the Government to enforce the prohibition, but representations in that connection are being made to the Empire Marketing Board. 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 results that producers have been selling more freely. The importers are anxious to impress upon shippers the necessitly 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 for 120.~