WEEKLY MARKET REVIEW

Waikato Times, Volume 96, Issue 15024, 22 August 1922, Page 2

WEEKLY MARKET REVIEW

■ IQREEABLE SURPRISE. I NO SLUMP ON EXCHANGE. I LONDON, August 20. I .Received August 21, 9.40 a.m. 'Contrary to what might have been ixpeoted the failure of the Reparations 3'onference did not bring any reaction ifl the Shock Exchange. It certainly iaused disappointment, but no depression,■ and those who feared- heavy Iquidations were agreeably surprised io find :that there was no pressure to fell', even from Paris, where it was -eare'd many selling orders would come. On the contrary, when the Paris Bourse re-opened on Wednesday, after two fays’ holiday, We received buying order's from France', and these had such an- excellent effect that although the money market was very tight there was n'o appreciable decline in Stock Exchange values. Pre-war Settlements. The Stock Exchange Committee fixed September 1 for the settlement of prewar accounts.. The total committments when the exchange closed in July. tm; 'were £106,000,000. Since the armistice these have been steadily Cleared off, and the amount outstanding is now less than £2,000,000, s.o that the settlement cannot have much influence on market conditions, althou D l It may entail hardship on individuals who have accounts open in Giand Trunk and South American rails. Foreign Exchanges. Tfie Foreign Exchange market has been demoralised by the breakdown of the conference and with the German mark daily falling to fresh depths of degradation there M'S been a collapse •In most of the leading European currencies, In this condition of affairs it is satisfactory that the value of the pound sterling in the United. States -conitinues to appreciate, apparently because the Americans have confidence m -tHe Bfifish determination to face the t.facts of the European situation. At any irate America shows no inclination to - gamble for a fall in the British pound. Australian Dried Fruits. j- The action of the Australian importers of dried fruits in deciding to hold hut for better prices has had. the de ’sired effect, and trade shows.a marked -improvement in all directions Currants especially are moving freely and f several importers hav e cleared their i.stocks at prices fixed at a meeting on iAugust U. Sultanas have also been selling steadily at fixed prices im- • porters are highly gratified at the success which has attended their actioi , • and express the hope that® the - result will prevent any? recurrence of any t slaughtering prices'. ■•‘.'■rT Cammed Fruit. .pt .vrp-fjg demand for canned fruits continues to be disappointing and sales are small. The main cause of the unsaiistory position is the unseasonab e weather since May, which has restricted picnics, boating and similar outdoor functions. Another contributing factor ■;.13 the" diminished spending power of the working classes. Owing to unem- . ployment and lower wages they are now compelled to give up luxuries, among which canned fruits must be m- ' eluded. We afd also having A glut of fresh fruit,