U.S.A. TRADE

Grey River Argus, 9 November 1931, Page 5

U.S.A. TRADE

RECOVERY SIGNS Grain Still Rising (Aus. & N.Z. Gable Assn.) (Received November 8 at 7 p.m.) NEW YORK, November 7. Reports of improved business conditions have been received to-day from all sections of t,he United States. There have been advances of w’heat and oil prices. These 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 3| cents per ounce during the week, increased by three-eighths of a cent to-day. 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 profit-taking caused fractional secessions. However, simultaneously spurred by reports of a Rye shortage throughout the world, that grain jumped to the forefront today, advancing three and a-half cents per bushel. Alaize 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 thiry-nine million dollars worth of gold.