BRITISH TRADE

Wanganui Chronicle, Volume 77, Issue 196, 20 August 1934, Page 8

BRITISH TRADE

FORTNIGHTLY REVIEW FOREIGN LENDING RESUMED HEAVY SUPPLIES OF BUTTER IBy Telegraph—Press Association—CopyrightReceived Aug. 19, (5.30 p.m. LONDON, Aug. 18. As usual for mid-August, there has not been much activity on the Stock Exchange, but prices generally have been well maintained, although British funds occasionally were inclined to weaken slightly. Au interesting item is the resumption of foreign lending, a Norwegian pulp 1 company having placed £1,150,000 of 5| per cent, debentures at £9B. This is the first foreign issue since the Treasury placed the embargo on the London market. Another interesting item is the sharp advance in Guinness brewery shares, following the announcement that the company is establishing a brewery near London. The butter market is still suffering from the effects of too heavy supplies, though consumption continues exceedingly large. Importers find it impossible to get higher prices. An improvement seems unlikely until the heavy stocks in cold store, now amounting to 1,885,284 boxes arc reduced. Stocks of Australian and New Zealand certainly are being lessened grad tally, but heavy arrivals from Russia tend to keep up the total. Much of this Russian butter (some importers say about 78 per cent.) is now coming in boxes of New Zealand shape, instead of in casks as formerly.