MARKET CLOSED.

Auckland Star, Volume LXIII, Issue 250, 21 October 1932, Page 7

MARKET CLOSED.

Retaliatory Tariff Kills U.S.A. Fruit in Canada. DEMOCRAT'S COMPLAINT. SAN FRANCISCO, October 20. An allegation that the Canadian market for £2,000,000 worth of Californian oranges a year was destroyed by the Republicans' (Smoot-Hawley) Tariff Act, was made by Mr. William Gibbs McAdoo, Democrat nominee for the Senate from California, in a speech at San Francisco. Mr. McAdoo claimed that nearly 90 per cent of all the oranges exported from California went'to Canada in 1930, but that to-day the market was closed by reason of the new retaliatory tariff of one dollar 5 cents a box on oranges by Canada, not to protect her home industry but to retaliate against the exorbitant and excessive tariffs placed on Canadian products by the United States 'Act. SUPPORT FOR HOOVER. HENRY FORD'S RADIO DEBUT. NEW YORK, October 20. Mr. Henry Ford gave a broadcast speech last evening—his first appearance before a microphone—in the course of which he urged the nation to re-elect Mr. Hoover as President at the election on November 8. Recently the motor magnate counselled all his employees to vote for Mr. Hoover. WHEAT FLUTTER. RUMOURED FORD DEAL. NEW YORK, October 20. The commodity and stock market, but particularly the Chicago wheat pit, received a thrill yesterday when an unconfirmed rumour was circulated to the effect that Mr. Henry Ford would announce late in the evening during a radio address his intention of buying 75,000,000 bushels ot wheat at 60 cents a bushel to sell to China on seven years' credit.

Wheat gained one cent, stocks rose from one to four points and commodity prices also responded. However, Mr. Ford's officials immediately denied the rumour. GRAIN FOR ORIENT. CANADA PUZZLED. (Received 11.30 a.m.) VANCOUVER, October 20. Winnipeg wheat pools are puzzled by Moscow reports of Canadian grain imports. While several large shipments have been made to China lately, no Soviet purchases are known. It is believed that the shipments to the Orient will be diverted. Three ships were booked for cargoes to Shanghai in November. EXCHANGE EQUALISATION. QUESTION OF USAGE. (Received 12 noon.) LONDON, October 20. The Chancellor of the Exchequer, Mr. Neville Chamberlain, when asked if the Bank of England had used a portion of the £150,000,000 Exchange Equalisation Fund in. order to buy gold, said that it was not in the public interest to disclose how the fund was invested.

[The International Cable News appearing In this Issue Is published by arrangement with the Australian Press Association and the " Sydney Sun " —" Melbourne Herald " News Service, Ltd. By special arrangement neuter's world Service, In addition to other special sources of information, is used in the compilation of the overseas intelligence published in this issue, and all rights therein in Australia and New Zealand are reserved. Such of the cable news on this page as 1« so headed has appeared In "The Times," and is cabled to Australia and New Zealand by special permission. It should be understood that the opinions are not those of " The Times" unless expressly stated to be io.I