FEDERAL POLLS

Taranaki Daily News, 22 December 1931, Page 5

FEDERAL POLLS

(COMPOSITION OF HOUSE RESIGNATION OF MR. SCULLIN EMPHATIC SWING OF VOTES • STIMULATION OF BUSINESS SHARP RISING OF STOCKS By Telegraph— A.»sn.— Copyright. Rec. 3.5 p.m. Sydney, Dec. 21. Including the probable results of several ge'ats yet in some doubt, the composition of the House of Representatives U estimated as follows! Government. United ‘Australia. 38 • Country Party 16 Independent ~..• ••••••••:♦-' Total 83 Opposition. Federal Labour 13 Lang Labour .... . 3 Total < 19 Of the doubtful seats two or three may finally turn out differently from the present indications. The Stock Exchange to-day reflected, the political turnover in a renewed wave of dealings, prices rising markedly all round. Commonwealth consolidated banking stocks and industrial securities all met an active market. Commonwealth short-term 4 per cents, rose 20s and longer dates 27s 6d and 30s, and Bank of Now South Wales 12s 6d. The rises at the first call proved rather too steep and some slight declines were noted at noon. Bonds investments maintained their appreciations and insurance, gas and steamship stocks were all firm. A Melbourne message says Mr. J. H. ficullin to-day tendered his resignation and advised the Governor-General to summon Mr. J. A. Lyons, who will leave Launceston to-morroiw for Canberra. The World, organ of the Federal Labour Party, comments: "Labour presented a policy which the people rejected; it how awaits something the nature of which has not yet been indicated. Mr. Lyons will be unable to do effective service in the direction of creating employment and stimulating industry unless he resorts to a radical amendment of the private banking system which Labpur wishes to nationalise. The whole world is at present groaning under the burden of an archaic money and credit system. Labour has been defeated on fictitious issues but will, be recalled when the electorate realises its blunder.” •'SUFFICIENTLY EMPHATIC” AMERICAN OPINION OF RESULT. Rec. 10.15 p.m. New York, Dec. 21. "The defeat of Labour in Australia wais not as overwhelming as that in England, but it was sufficiently emphatic,” says the New York Times in a leader. “There was a feeling among the steady-going Australian people that Labour could not be counted upon to pull the Commonwealth out of its difficulties, despite the many good things done by Mr. Scullin. The result can hardly fail to stimulate a recovery in Australia.” ? ELECTIONS FOR THE SENATE. ROUT OF LABOUR ANTICIPATED. Rec. 8.45 p.m. Sydney, Dec. 21. The counting of votes in the Senate election is proceeding steadily, the indications being that the United Australia Party will win 15 of the 18 seats, Labour retaining three. In this election each State constitutes one electorate, hence the length of time required for the counting of the votes. Ths State totals thus far are:— New South Wales. • United 490,000 Federal Labour 132,000 Lang Labour 316,000 Independent* 23,000 Victoria. United Australia 441,000 Federal Labour 255,000 Independents 58,000 South Australia. United Australia. .... 143,000 Federal Labour 84,000 Independents ~,......, 8,000 Queensland. United Australia ..... 114,000 Federal Labour 134,000 ; Communists ........... 5,000 Western Australia. United Australia ..... 40,000 Federal Labour 86,000 Others < 1 Tasmania. United Australia. ..«< 62,000 Federal Labour 21,000

Mr. Nelson, Federal Labour, was reelected a* the Northern Territory representative.