SHARES FIRM.

Press, Volume LXVII, Issue 20382, 31 October 1931, Page 12

SHARES FIRM.

BRITISH ELECTION RESULT. return OF confidence. The general rise of shares on the tralian Stock Exchanges, which fol owed he announcement of the National o T,t' s victory at the British Governmen reflected in a gen--6 oiTming of stocks on the ChristC i reh Exchange during the l**t two i vs A leading sharebroker Bln,ed yesterday that there had been a narked «- turn of confidence at call oniuursdav that the higher prices I*l been mainlined, particularly for A-atralian ba Tho S genwal improvement is *hown in the following comparison of buying prices on Thursday, October *>nd, and Friday, October 30th:

general merchandise. GROCERIES. The seceral improvement in business noticeable last week itill continue!, and some importers are quite optimistic as to trade generally between now and the end of the year. Although grocers are not buying heavily, they are operating continuously, with a tendency in some quarters to stock up to ft limited extent. Sugar is commencing to move oat more freely now, at heavy stocks purchased and held by many retailers and also the_ public previous to the imposition of the duties, are now running out. Cheese. New season's make cheese is now coming on the market, but it is too new for general trade. Supplies of last season s make are very short, and look like running out alto eetber. Firmer prices are expected for the latter at any time, especially as it is understood that supplies of this line m the North Island are not plentiful. Tea. Last week's tea auction in Colombo covered a catalogue of 1,700,0001b, and from the grower's point of view was not very satisfactory. Contrary to expectations, the auction dragged badly, and prices were unsettled. For all cheap grades there was a brisk demand, whilst mediums and better tpes found a weak market. Quality is reported as not up to the usual standard for 8.0.P., and this may be the cause of the weak market. Dried Pratt*. The steamer Janus, carrying new season's dutes for New Zealand (via Sydney transhipment), cleared Basra on October lUh. She should be in Sydney by the middle of November as she has to make several calls before reaching that port. It will therefore be early December before new dates land jn IjytteitoThe Californian market for all dried fruit lines is advancing, and quotations this wees, whether in dollars or sterling, all in " greased prices, in many cases up to 10 per »ent Tho hardening of the Californian markets was expected, and importers of prone* and raisins from this quarter must look lor high costs when goods arrive, on orders placed recently. ... , One well-known packing house in San ***»- r.isco has this wjek lifted practically aU prices on a new c.i.f.e. list issue? a fn 3 l!° basis. The advance is nearly all duetjo tofc & moving off the gold standard, but some of St. of course, is also due to increased price* in the United States. . «„ To show the movement in dried truits in California, due to the exchange position aloug with increased prices m the "▼«!»' line* have been worked out, showing tw n creased cost ex ship kyttelton. conversion rate in Sap Francisco i«3«' and based on this ratio quotations in sterling *™ now available. The actual ilwm Rent prices, as against prices ruling before Uw gold standard alteration, are;Thompson seedless raisms. Choice lss »«. fU "Goldon"bleached raisins: Choice 15s, extra choice 15s Sd. Californian muscatels 3s B<J. Seeded raisins, choice, 16os, 12s M. OH bleached Thompson seedless raisins, 19* 60-70 prunes, 7a Id, 70*80 prunes 6s M« Oil bleached sultanas, 12b Cd. All the above increases are per ewt «M«g muscatels, which are per box of SO no pß Tha* principal shipment of n ?* Californian seeded raisins, as well »s golden S and sulpbur bleached raisins are j being loaded on the steamer Golden Coast, leave San Francisco to-day. arrival will give plenty of time for <* el ' Te ** for Christmas trade by MtaUers. and Bheis also sheduled to call at Timaru besides I*t telton. A small quantity of new AmerojW fruits have already arrived in of New Zealand, but so f» r no quantity h»* landed.

Almonds and Nuts. Following on » general increase in P*" s ** of all foreign-grown lines, Brazil nuts_» shell have risen in London Us P® r ~ wl « whilst shelled of the same variety n*To moved up 15s a cwt. The market for *U nuts is advised as advancing, and oos BOUM cables that Braiils are good buying; a» next arrivals in London are expfeted to more money, which means that London will immediately Increase its quotations. Supplies of Sicily and Jordan almonds *r® now afloat for this market, snGJeveut toM* the trade over the Christmas business. Tne alteration in exchange as between the Mediterranean and London put almonds up substantially; in the case of Jordan* 9|d pe* lb. This increase will no doubt be permanent whilst present exchanges are rnlin*. Shelled peanuts are again short, and this will continue till the new season's crop lands, and that will be about the middle of November, Peanuts in shell are not too plentiful locally, and here again no relief 11 in sight until next month. Bome merchants are not quoting ex ship, as they are unable to predetermine the landed cost. One tiling is certain, and that is that futuro landings are going to cost much more than present stocks. Onions, News this week by mail from one «f the chief exporting houses in - Melbourne states that onions are being offered by tKeot {.O-b. at $3 15s, but they do not recomuend shipment to New Zealand, as it is too late to land them here in a satisfactory condition. New season's Victorian Globes VlO bo available before very long, and when these come forward the high prices locally for onions will drop suddenly. Crated onions, recent arrivals from America, are selling well, and samples examined show an excellent quality. Bran and Foliard. Some Melbourne millers are now refusing to quote for export, and Sydney at present is the cheapest market on which importers can operate. Prices this week in Sydney were: Bran 70s a ton, pollard 80s a ton f.o,b. OH in Bottles, The chief source of "salad" oil sold in Co* and lOoz bottles is the American production, made from cotton aeed, and a similar oil produced from maise. Qennine olive oil is produced on the Continent of Europe. All these lines being of foreign origin wMB therefore have to bear the additional costs now operating through foreign exchanges. Many packs of these oils «re shipped by British packing houses, being battled in the United Kingdom. This does noT however! foreign origin. Ssco sad Tapioca. Prices in Singapore have declined about 2i per cent., with the market easier. Buying orders for the December steamer an receiving the consideration of some importers, and as this market is difficult to forecast some operators are covering only a portion* their requirements, relying on the ho™.that the market will come back next m?n?h. POULTRY AND EGGS. The Red Comb Egg and Poultry Company » B T, : r T RnH,S e# 9t OI » Wednwdr.y and Saturday were keener the previous week. In aome case* there was a further improvement ,« valaw. Quality influenced the steady and sometimes spirited demand. From tie demand for rfcieke&S, ducklings, and good boilers it appeared that buyers could have absorbed more of them without any trouble. T he prices were obtained per pair:—Chickens, heavy 9s to 12a Gd. light 5« to 9s ; bene, light it to Tie ed, heavy Ga to ~ «» ducklings, 7» 6d to 8a 6d; tw to^22s° na ' ; ttuta>y tf* Wew « w* lied Comb brantl mooMce graded oggs. Prices per doien: Pi rat grade end duck eggs lid, second grade lQd. puQete ad. ;

Oct. £ (. ~d. Oct. £ f. SO. d. banks— Aust. of Commerce New South Wales Union of Aust. .. Comm. of Aust. .. Nat'l of N. Zealand New Zealand 0 25 7 0 3 13 2 1 14 17 4 10 6 0 1 3 1 0 20 0 4 14 10 17 15 2 C 6 0 0 6 0 0 loan and agencyDalgety and Co. .. Goldsbrough, Mort 6 1 12 1 6 - 1 0 0 3 MISCELItANEOUS — Elec. Zino (pref.) Mount Lyell 0 0 15 18 6 5 0 0 16 18 4 7