SCULLIN RESIGNS

Hokitika Guardian, 22 December 1931, Page 5

SCULLIN RESIGNS

y LYONS TO BE SUMMONED MAJORITY FOR ANTI-LABOUR. (Australian Press Association ) MELBOURNE, December 21. Mr Jas. H. Sculiin has to-day tendered to the Gqvernor-General, Sir Isaac Isaacs, the resignation of Lis Ministry. Mr Sculiin has advised the Governor-General to summon Mr Lyons (Leader of the United Australia t. Part >'); ; { r, Mr Lyons leaves Launceston to-mor-row for Canberra. REQUEST TO MR SCULLIN. TO HOLD OFFICE OVER XMAS. SYDNEY, December 22. v The Governor-General lias asked Mi Sculiin to carry on until after Christmas. The actual date of his resignation is not settle(|. ~j,

THE NEW HOUSE. ' A BIG DISPARITY. U SYDNEY, December 21. WF There are several seats yet in some i doubt. Including probable results, however, the composition of the . new House of Representatives is estimated aa follows •-* GOVERNMENT SIDE. United Australia .Party 3S Country Party ... ; 13 Independents - ... 2 Total ... ... ... ... 50 OPPOSITION side; a Federal Labour Party , 13 Langite Labour Party 6 Total 1C / The doubtful seats, however, may in j two or three cases finally turn out difI ferently from the present indications ’"*• as above given. THE SENATE COUNT. •> 5 SYDNEY, December 21. , The Senate count, is steadily proceeding, the’ indications being that the United Australia Party will win fifteen of the eighteen seats, Labour winning three seats. - The State totals thus far are as follows: ' i New SoutA Wales: Australia United Party, 490,000; Federal Labour Party, /•. 132,000; Langite Labour Party, 316,- ■ 000; Independents, 23,000. •,>'• Victoria: United Australia Party, -441,000; Federal Labour Party, 255,000; Independents, 58,000. South Australia : United Australia Party, 143,000; Federal Labour Party, 84,000; Independents, 3000. ... Queensland : United Australia Party, 114,000; Federal Labour Party, 134,000; Communist Patty,- 'SOOO. ■ West Australia : United Australia Party, 40,000; ; Federal Labour Party, 86,000; Others, 5000. Tasmania:': United Australia Party, /. 62,000; Federal Labour Party, 21,000.

STOCK EXCHANGE. SYDNEY MARKET ACTIVE. / 9 SYDNEY, December 21. The Stock Exchange to-day reflect- ' ed the political turnover in a renewed wave of dealings, prices rising markedly all round. Commonwealth, Consolidated, bankingostocks, and industrial. .securities all :nief an active market. Commonwealth-; short term ’fours rose by 20s per -£IOO ; long dates by <27s 6d and 30s ; and - the Bank of New' South Wales stock by 12s 6d per share. .The rises at the first call proved ' rather-‘too steep. ■ : - Some slight declines in values were to-be noted at noon.

Donds investments maintained appreciations, while insurance, gas and steamship stocks all remained firm.

ONLY MODERATE RISES. A SYDNEY, December 21,' A buoyant reaction to the election result continued to-day. Closing quotations for reading, stocks, with rises, were as follows r Commonwealth" forir per cents, 1948, £93: 15s, rise 20s. Commonwealth four per cents; 1955, <£92 7s 6d, rise 225. bd; bus these stocks later remained down since noon. ' ■Commonwealth fours, 1961, £92 sa, rise ss. Bank'of New South Wales £3l 17s 6d ; rise .10s. '■ Insurance Coy shares rose 6d apiece 1 all round. Industrial stocks showed a small upward movement,’ / ‘ _ AN AMERICAN VIEW, NEW YORK, December 21. The “New York Times,” in a leading' article, says: “The defeat of Labour in Australia was not as overwhelming as that in England. It was sufficienty emphatic. There was a fe'-’-ling among steady-going Australian •ry£ people that Labour could not be count"A «d upon to pull the Commonwealth out of its difficulties,. despite the many good things that have been done by iMr J. H. ’Scullin. The result can hardly fair to stimulate a recovery in Australia.” ■ ■' . LYONS’ VICTORY GOOD OMEN. sr OPINION IN HOME CIRCLES. (Received tb ; « >' >’ at 10.30 a.m.) LONDON, December 21. Lyons' victory is considered a good omen for the Ottawa Conference, as