U.S.A. TRADE

Greymouth Evening Star, 9 November 1931, Page 5

U.S.A. TRADE

A REVIVAL STARTED. [BI vABLE —PRESS ASSN. —COPYBIGHT.] NEW YORK, November 7. Reports of improved business conditions have been received to-day from all sections of the United States. Advances of wheat and oil prices are being definitely linked to a revival. The stock market also participated in last week’s recovery with numerous two to four point advances. Silver bullion, which already had risen 33 cents per ounce during the week, increased by three-eighths of a cent today. At the same time, there was an enormous volume of public buying, which threw the Chicago Board of Trade’s wheat pit into unprecedented frenzy. The usual week-end profittaking caused fractional secessions. However, simultaneously spurred by reports of a rye shortage throughout the world, that grain jumped to the forefront to-day, advancing three and a-half cents per bushel. Maize showed fractional gains. The startling grain trading expansion is estimated to have benefited American farmers to -the extent of 500,000,000 dollars during the past week. Other optimistic reports have included one of an increase in the United States Steel Corporation steel ingot production, and also the return to the United States of thirty-nine million dollars worth of gold.