"Obscure.”

Future Of Copra Is

AN interesting summary of the copra market, as seen by the London merchant, is contained in a recent letter received by the editor from Mr Roy Fischel, of Messrs. L. M. Fischel & Co., Ltd., 36 Mincing Lane, London. Mr.

Fischel says: “The copra market here, after being firm at the beginning of the year, has become rather dull during the past month or so, and prices, as you are fully aware, have reacted to a large ex tent from the highest prices of the year.

“Kiln-dried South Sea is being of fered in London to-day (end of April) for May/June shipment at £13/15/- to Marseilles, while for sundried South Sea there are possible buyers at £14/7/6 to London.

“The outlook generally is very ob scure, and one finds it impossible to take any view of the immediate future.

The great fall in all commodity and stock markets in America is continually affecting Europe to a great extent, and it is difficult to see when this depres sion in America is going to end. On the other hand, there are signs of slightly better times in England, and we hope, in the Empire as a whole.

“We have at last managed to balance our budget here by sacrifices of all sections of the community, and we think, if only some of the other coun tries—especially those who remain on the gold standard—were to be a little more helpful to the world as a whole, and not quite so selfish and money grabbing, the world would soon turn round and we would have better busi ness for all.

“Until this takes place we think it is left to the countries of the British Em pire to work together for each other’s benefit, and not for any one in particu lar. The writer feels that by doing this we should be able to keep our heads above water,’ and then wait until others come to their senses, and instead of being money-grabbing, try to be of service to the world as a whole.”