STATE OF TRADE AND COMMERCE

Timaru Herald, Volume CXXXVII, Issue 19669, 11 December 1933, Page 7

STATE OF TRADE AND COMMERCE

REVIEW OF BRITISH MARKETS FINANCE PASSES STEADY BUT QUIET PERIOD United Press Association—By Electric Telegraph—Copyright (Received December 10, 6.30 p.m.) LONDON, December 9. The Stock Exchange has been passing through a period of quietness. There has been some hesitancy, but about mid-week the tone improved. Gilt-edgeds, which earlier were inclined to weakness, made a good recovery. Dominion stocks show firmness all round, the Commonwealth conversion having good effect, especially on the Australians. Shipping Recovery. A feature of the last two days has been the recovery in shipping shares, following the Atlantic fares agreement, and the prospects of a temporary subsidy for tramp steamers. Also the possibility, as hinted by Mr Neville Chamberlain, that the Government is taking steps to help the shipping industry generally. Rubber shares had a serious setback recently, as the expected restriction of output agreement has not yet materialised, but although the decline of shares is serious, prices are still, in many cases, fifty and sixty per cent, above the lowest quotations last year. Supplies of Butter. The butter position has been, to some extent, clarified by the decision of the Australian and New Zealand Dairy Boards to spread shipments more evenly, as the belief is expressed that this action should prevent unnecessary fluctuations in prices. The news already brought a firm tone to the market, and traders are hopeful to be able to maintain prices, especially as consumption continues good, as is shown by the reduction of cold stored stocks at the end of November to 463,000 boxes. Production of Eggs. Cold weather on the Continent caused a smaller production of eggs, and arrivals of them declined. Consequently there has been a slight improvement in the price of Australian eggs, but they are still coming in such large quantities that there seems little prospect of any material rise. Small arrivals of New Zealand eggs, in excellent quality, are making about the same prices as Australian.