RISE IN BUTTER PRICES

Hokitika Guardian, 29 September 1931, Page 6

RISE IN BUTTER PRICES

BRIGHTER TONE AT AUCKLAND. ' AUCKLAND, September 26. A brighter tone existed in commercial circles in Auckland yesterday,' and throughout the day receipt of optimistic messages regarding 'the condition of the markets in Great Britain was reflected by a more cheerful outlook in the business community. While the uncertainties of the exchange position and the obscurities which necessarily shroud its immediate effects imposed an attitude of caution •with regard to the foreign importing trade, this was offset, to a great extent, by the renewal of confidence'' in the prospects of the New Zealand export trade. The general opinion in the city was 'that trade in primary products would reap immeasurable benefits from the new conditions. The Auckland 'Stock Exchange showed a distinctly firmer tone, accoirU panied by a feeling of buoyancy and an improving market. Prominent Australian stocks were most influenced, particularly those affected by fluctuations in the base metal and produce markets.

Following developments in England there has been a rush among dairy produce merchants to cover immediate requirements, and this has resulted in an improvement of 6s to 7s a hundredweight in the price of butter during the week. The position is now quieter at advanced prices.