BRISK TRADING

Ashburton Guardian, Volume 57, Issue 249, 2 August 1937, Page 6

BRISK TRADING

CONDITIONS IN THE DOMINION. PRACTICALLY ALL LINES. CLAIM BY THE MINISTER. (Per Press Association.) CHRISTCHURCH, This Day. Further evidence of brisk trading conditions is contained in the periodical reports from my district officer? in the four centres,” said the Hon. D. G. Sullivan (Minister for Industries and Commerce) in an interview to-day. “This activity is Dominion-wide and extends to practically every line,” ■said the Minister., “Reports for the quarter indicate heavy trading, both wholesale and retail, and merchants report that trade lias shown a distinct improvement on that of the corresponding quarter last year. The reports prove beyond all doubt that the people of the Dominion are enjoying greater prosperity than they have done for many years, and this is due in a very large degree to the Government’s policy in increasing the purchasing power of the people. Despite melodramatic statements to the contrary, the position in our manufacturing industries to-day is immeasurably better than that of two years ago, and steps are being taken by the Government to see what can be done to still further improve the position of those industries which we consider might be adversely affected by overseas competition. “Speaking generally, the staffs and production have increased appreciably, and many industries are working to full capacity and are unable to supply orders on hand. The district officer at Auckland informs me that six public companies in Auckland announced during the quarter the results of their trading for the past year. Every one of these companies showed decidedly increased net profits over the previous year. One well-known firm, in fact, increased its net profit from £61,000 to £104,000. This report is typical of thosq I am receiving from my other officers, and is definite proof that industry as a whole is enjoying a period of prosperity which has not been theirs for many years.”