BRITISH TRADE.

Star (Christchurch), Issue 17346, 29 September 1924, Page 8

BRITISH TRADE.

STOCK EXCHANGE LIVELY MILD BOOM IN TEA AND RUBBER. By Telegraph—Press Association— Copyright Australian and N.Z. Cable Association (Received September 29, 11 a.m.) LONDON, September 27. Business on the Stock Exchange is commencing to expand, and the volume of dealings this week was probably the largest for many weeks. The gilt-edged market remains good, and there has been a mild boom in tea and rubber shares. , following advances in these commodities. An outstanding feature of the foreign bond market lias been the slump in German bonds, in which there has been considerable speculation lately The Reichstag committee decided on a re-assessment of the value of these bonds, and that the payment of interest was impossible. Publication of the decision brought prices down with a run, 3 per cents falling to 265, a decline of 16s 6d. Similar losses were marked in 31 per cents and 4 per cents. DRIED FRUIT. The Australian dried fruit trade is dull, following weaker reports from the Greek and Smyrna markets. Australian sorts are quoted : —Sultanas 42s to 48s, currants 45s to 50s, lexias 40s to 455. Considerably higher prices could be obtained for good qualityfruit, but unfortunately practically none is available. In order to popularise the Australian fruits, the Australian Dried Fruits Association has decided to place them on the market in nominal pound cartons. These will be supplied to -retailers at 9s a, dozen for all fruits. Tt is hoped that this convenient package will appeal to consumers. Retailers will be encouraged to make special window displays of these fruits. They being supplied with attractive show-cards, recipe booklets and handbills, and advertisements, will be inserted in trade newspapers urging grocers to push these “empire goods and reap the benefit of the wonderful publicity caused by the tremendous distribution of sample cartons at Wembley.” Some large wholesale grocers are not particularly enthusiastic about this method of selling, as they say that previous experience in pushing proprietary* articles lias not been altogether satisfactory, and the question is whether the public is willing to pay the price asked. DAIRY PRODUCE. Butter prices continue to advance and with Germany still buying large quantities of Danish, Dutch, Esthonian and Siberian, a further rise would not be surprising. The advance chiefly is in finest descriptions, of which the supply at present is exceedingly limited. No increase in quantity is expected before December. The only bearish feature of the market is the huge quantity of butter stored in the United States estimated on September 1, 1924, at 156,000,0001b5, which is 53.000,000 above the quantity on September 1, 1923, so the United States is unlikely to require any quantity of Danish aiid New Zealand butters for

the next five months, which means that Britain will get a larger quantity of both. WINES. Following increased sales of Empire wines, as the result of the Wembley Exhibition, the proposal has been revived for holding an annual wine fair in London on the lines of the Paris wine fair. The nromotors consider such a fair capably organised would be the finest propaganda the medium wine trade could have. A “SLACKENING.” Describing the state of trade, the “Economist” says the seasonal slackening over the summer months seems to be more accentuated this year than last. The textile trades are only affected slightly, but the iron and steel production has been curtailed more severely than in 1923, and employment has declined during the last two months to a greater degree than many anticipated. Other indications show that the volume of business outside the coal and heavy metal industries is appreciably larger than in September, 1923, and is fairly well maintained considering the time of the year. The coal export trade is suffering rather from the failure of the demand in many countries than the recrudescence of foreign competition. The same applies to iron and steel. COTTON AND WOOL. The outlook in Lancashire is brighter, the good American crop holding out a prospect of plentiful supplies of cotton during the coming season. The wool industry on the whole is better employed, although manufacturers are unable to pass to customers the whole of the recent increases in the price of raw material.