MINING SHARES.

Evening Post, Issue 37, 12 August 1936, Page 12

MINING SHARES.

(By Telegraph—Press Assn.—Copyright.) (Received August 12, 11.55 a.m.) LONDON, August 11. Sales of mining shares include'— New Guinea, 3s 10id; Mount Lyell 23s 6d.

STEADY LONDON DEMAND

(From "The Post's' Representative. LONDON, July 18. Farmers should have no reason to quarrel with the prices being paid for their butter and cheese in London. Butter is fetching a steady 117s per cwt and cheese is selling at 62s to 665. There appears to be every reason to believe that these'prices will be maintamed during the next three months at least.

The demand for butter is practically as strong as it was this time last year, despite an increase in retail price of 2d per pound. This readiness on the part of the consumer to pay a higher price quite cheerfully is a reflection of improved - conditions *in England. It indicates that the public are receiving the full benefit of increased spending power distributed in higher wages, more employment, and the restoration of salary cuts. Another factor playing no small part is the keen competition between retailers, who have reduced their margin of profit to a low level, and stimulated consumption. Reliable advice states that, at the present rate of consumption, there is not too much butter in sight before the end of October. The outlook for that period is therefore regarded as most satisfactory Tooley Street is awaiting with interest the announcements to be made by the New Zealand Government concerning guaranteed prices at the end of the month. The attitude of "wait and see" which was adopted from the moment the Government's intentions were declared, is still maintained, and no opposition has been voiced due mainly to the fact that the merchants have not yet had their position defined.

Many Tooley Street merchants believe that definite advantages will accrue from the new system, for it is obvious that the importer will know the exact amount of butter and cheese he may expect, whereas at the present time and in the past, promises might be made regarding delivery and not carried out. Consignments sold at the beginning of August under the new system will not, of course, be handled until October