FINANCIAL CRISIS.

Waikato Times, Volume 110, Issue 18441, 23 September 1931, Page 8

FINANCIAL CRISIS.

TRIBUTE TO BRITONS. UPHOLDING THE TRADITIONS. BERLIN EXCHANGE STILL CLOSED. United Press Assn.—Elec. Tel. Copyright. (Received Sept. 23, 12.30 a.m.) PARIS, Sept. 22. A feature of the press comments Is a general tribute to British calmness of character in the face of a crisis. As an instance Le Matin says: "True to his tradition, the Briton is keeping his end up and is not rushing the shops to use all hs cash to buy goods.” BERLIN, Sept. 22. The Stock Exchange will remain closed to-morrow. STERLING IN NEW YORK. LATEST QUOTATION. United Press Assn. —Elec. Tel. Copyright. (Received Sept. 23, 11.55 a.m.) NEW YORK. Sept. 22. Cable transfers of the pound sterling closed at 4 dollars 19 cents in New York, being eight cents better than the opening quotation and 13 cents lower than yesterday's close. The Canadian dollar closed at 93 cents. ACTIVITY IN LONDON. INDUSTRIAL SHARES MOVE. AFRICAN GOLD MINING IN DEMAND. United Press Assn.—Elec. Tel. Copyright. (Received Sept. 23, 11.50 a.m.) LONDON, Sept. 22. There was remarkable activity in the unofficial street market outside the Stock Exchange. The higher prices of commodities are causing the public to buy many industrial shares. Some brokers did more business in a few hours than in a week while the Exchange was open. South African gold mining shares parlirularly were in demand, after the price had been fixed nominally at. Z\ 19s 7d per oz. which is 15s 2d higher than yesterday. There arrived from South Africa to-day 250,000 sovereigns and £434,000 in bars, for which the owners refused an offer, believing a heller price would be obtainable later.

TOURIST TRAFFIC. 1 ( INCREASED FAKES. A SWING OF THE PENDULUM. United Press Assn. —Elec. Tel. Copyright. (Received Sept. 23. 12.45 p.m.) LONDON. Sept. 22. Apropos of the increased fares to the Continent the Travel Association points out that J,000,000 British subjects went to France last year whtie 06,000 French went to England. The value of the travel industry is wortli £120,000,000 yearly to France and only £15,000.000 to England. The reduced sterling exchange is sure to increase the numbers of Continental visitors to England. CONDITIONS IN HOLLAND. BANKERS' PRECAUTIONS. AMSTERDAM, [Sept, 22. The bankers have formed a syndicate to put funds at the disposal of stock brokers lo facilitate the opening of new accounts to re-establish normal conditions. EFFECT ON COMMODITIES. THE COTTON INDUSTRY. PREVENTION OF PROFITEERING. United Press Assn. —Elec. Tel. Copyright. (Received Sept. 23, 12.30 a.m.) LONDON, Sept. 22. All leading cotton mill shares have advanced at Manchester, the markings up being based on hopes of improved exports. One authority is of opinion that if the dollar exchange dropped a few mure points Lancashire would be able to ship cotton lo the United States profitably. A deputation from the National Federation of Grocers' Associations assured Sir P. CtrnlilTe Lister (president of the Board of 'Trade) that the grocers throughout the country would protect, the public from profiteering. 'The Australian Dairy Produce Hoard states that, in view of the available and expected supplies there will be no reason to raise prices.