A REVIVAL.

Press, Volume LXVIII, Issue 20630, 20 August 1932, Page 16

A REVIVAL.

AUSTRALIAN EXCHANGES. HEAVY BUYING. (PROM OUE OWN CORRSSPONDEJCT.) SYDNEY, August 11. Stirred T>y Hi* 1 latest revival news from overseas, the investment market in Sydney and Melbourne during the last few days has assumed a pronounced buoyancy. Otx Tuesday ia both cities the official calls at the stock exchange had to be prolonged in order to cope with the heavy volume of buying orders that flooded the market. News from London and New' York was regarded as particularly encouraging, and the progress of events at Ottawa may have had something to do with the rush of business. Although no official news had been received as to what Australia was likely to gain at Ottawa, the general display of confidence was regarded as most significant. For some weeks now investors have been displaying a confidence that had been lacking for many months, but this week they have been operating with a freedom reminiscent of the "old days," the days before the depression. Local factors" in the increased demand for investment stoeks have been the narrowing range of income-producing securities, and a favourable anticipation of the opening of the new wool season. Buyers have sought their requirements over a. large scope, and on Tuesday the turnover was the largest recorded for any day in the last twelve months. As a whole, banks are not free from the hesitant note that has marked operations for so long, but Sydney concerns have gained ground. The most satisfactory feature of the trading was the advance made by industrial concerns that have not been paying any dividends. At*least thirty stoeks increased in value in one day. According to the Premier of Victoria (Sir Stanley Argyle), there are now unmistakable signs of the return of better, times. One could not help noticing with satisfaction the general return of confidence in the investing world, particularly in regard to Government stocks. There was a distinct indication that the people now had greater confidence in the Governments of Australia. The proposals of the banks and other big financial institutions to provide cheaper money was encouraging, particularly as there was every prospect that Australia would enjoy yet another good season, with better prices for its products, particularly wool and wheat. The revival in the building trade in Melbourne was another healthy sign. The Ottawa Conference was moving along the right lines, and altogether the indications that Australia was moving out of the valley of depression were most heartening. As a further indication of the gradual improving of the business outlook, it is announced that there has been a steady rise in postal revenue. Telegraph earnings for the four months ended duly 31st were nearly £40,000 greater than for the corresponding period last year.

FRUIT MARKET.

CHRISTCHURCH. With the advent of warmer weather larger supplies of vegetables hare come fonvai'd throughout, tlu: week. l'cicus, although hliglitly rubier, are still prolitablo to mowers. I,'r.iing prices arc as follows: —Cauliflowers, bt'bt iOs, others ts to fcs, truall .8 to Is; cabbagee, bust 7a, others js, small '-a to i/S, talks iUa Id; ibubarb, per dozen; given peas, ~t> ltd yi:t- ijecit l»u» season •->), jCoot \aiuiics are !iiiiij„ wtlJ, ami realising lrom is to is per uozmi. .mussels 6pioiu=, up to j;u i.e. iL> lor best quality. a\oW siitsou'a ioiuaiocs oil the iiurnci lrun \veeJt realbed us lugti aa a.* Did per Ij. Xlic main •supply ot app,es coming loriv.irit are Stimulus, winch arc realising tis ;oc beat quality, Is to lor second grade, and '-ia 0,1 lor interior grades; JLord Woiscteys, first grade 7s, others os to lis; Ballarats, 5s (id to lis (xl per case; Judicious, up to ba lid lor first graue, others 6s lid to 7a, &inall sizes ss; pears, uj> to 2£d per lb ior dessert varieties, others lower; cucumbers, hothouse la pur lb; oranges, smaller supplies ot oranges came to hand trom South Australia on tnis week's steamer, and prices are firmer. Best quality and counts realised J4s per case, others J'is to J :ss, large sizes lower; lemons, best quality lGs per case, others lis to 14s; pineapples, Sydney up lo 15s 6d per case; passions. Sydney 12s Ixl per case; mandarins, 10s per case. There will be a shipment of Island oranges and bananas next Tuesday. Prices are ox* pectrd lo be firmer than for previous shipments.

DUNEDIN. I THE PRESS Special Service.] !,i», DUNKDIN, August, 19. The apple market shows little change. Stocks are ample to meet the demand. There is a better enquiry for really choice cockers. Samoan bananas, which arrived ex Maui Prmaic, ripened up splendidly and buyers have been well pleased with the quality. A shipment of Kurotongan-Krown is expected to arrive towards the middle of nest weelc and also a small consignment of oranges. Dessert pears are in better supply. Good quality meets a sound demand. A few lines from CLristcliurch cool stores which were not in the best of condition have been placed at low rates. The demand for navel oranges continues. Lemons are in short supply. The small quantity of Australian landed from the AVainui was readily talten up at advanced rales. New Zealand lemons are only offering in small lots.

LONDON MARKETS. FLOUR, OATS, AND BEANS. (UNITED PRESS ASSOCIATION —BY ELECTRIC TELEGRAPH—COPYRIGHT ) LONDON", August 18. Flour is steady. Australian ex store "Os to 21s. Oats, peas, and beans ars quiet and unchanged. AUSTRALIAN PRODUCE. MELBOURNE MARKET. (UNITED TRESS ASSOCIATION— BY ELECTRIC TELEGRAPH—COPYRIGHT.) MELBOURNE, August 19. Wheal—3s -lil to us 5d a bushel. Flour—£B Jos a toil. Bran—£s 10s. Pollard—£s 10s. Oats—ls lOd. Barley-—Unchanged. Maize—-Is lid. ' Onions—Dull, and in light iupidv at £27 to £2B; SYDNEY MARKETS. SYDNEY. August Jit. W.lirat Tin* market is quieter. Quotation',: Ex trucks. Sydney, 0s 3id; country stations 2s 7id a bushel. ADELAIDE MARKET. ADELAIDE, August 10. Wheat—Growers' lots, L's Id to 3s 2d a bushel.