CHANCE FOR DOMINIONS.

New Zealand Herald, Volume LXVIII, Issue 20987, 25 September 1931, Page 9

CHANCE FOR DOMINIONS.

FOODSTUFFS IN BRITAIN. DEMAND MUCH INCREASED. EFFORT BY NEW ZEALAND. Bj Infograph Press Association—Copyright. (Received September 2J, 10.15 p.m.) LONDON, Sept. 21. Ihe London stores report that there lias hcon a marked increase in (he demand for British and Dominion products, particularly for foodstuffs, in responso to the Government's urgent appeal. All the indications arc that tlip> time is most opportune for a big trade push in Biitain from overseas. The people are increasingly realising the importance of reducing foreign payments. Housewives everywhere are asking before they purchase whether the goods aro British. 4 Australia and New Zealand never had a greater opportunity for strengthening their hold on the British market, and any propaganda efforts now are likely to be well repaid. lhe newspapers give prominence to the New Zealand Dairy Board's statement regarding New Zealand's efforts to increase food supplies, and refer especially to a picturesque phrase About the sailing of an Empire butter fleet " of 35 ships from New Zealand by the end of November. lhe Dairy Board's statement referred to the prospect of a diminution in foreign imports in consequence of tlio departure from the gold standard, and assured the public that New Zealand would make an unprecedented effort to increase food supplies for the Home market without raising prices. Shipping space for 500..000 boxes of butter and 171,110 crates of cheese has been allotted by the Dairy Produce Board to steamers leaving New Zealand for the United Kingdom between September 30 and November 24. Of these amounts the Auckland province will export 558,200 boxes of butter, or about 70 per cent, of the Dominion allocation, and 46,053 crates of cheese, or approximately 27 per cent, of the total allocation. NEW YOEK MARKETS. QUOTATION FOR STERLING. STOCK PRICES HIGHER. NEW YORK, Sept. 23. Tho closing quotation for the pound sterling to-day was 4 dollars 10 cents, and for the Canadian dollar 94 cents. Wall Street revolted against the pessimism caused by tho news of the wage cuts on rumours that the railways would soon get relief and the confidence implied by the good tone on the London markets. The removal of the ban on short selling gave quotations a rapid lift. The principal stocks were two to 15 dollars higher. Profit taking reduced the gains, but buying was resumed in the late dealings. Railway shares closed virtually at the best prices, with industrial stocks and utilities showing advances over yesterday's final quotations of from two to six dollars.