STRIKING INCREASES

Dominion, Volume 28, Issue 84, 3 January 1935, Page 7

STRIKING INCREASES

British Trade and Finance Figures CLEARING HOUSE RETURN (British Official Wireless.) Rugby, January 1. Striking evidence of the increased trade and financial activity is contained in the annual return of the Bankers’ Clearing House for 1934 issued to-day. . The grand total clearing of bills and cheques shows an increase 6ver 1933 of £3,346,531,000 or 10.4 per cent at £35,484,157,000. Town clearings increased by £3,025,637,000; metropolitan £102.853,000 and country clearing £218,041,000. In the third quarter of the year town clearings declined by but metropolitan and country clearings showed increases, for each quarter. The country clearing, which is less affected by financial operations, is regarded as a more, reliable index to the state of trade, and the increase on the year was 78 per cent. Each month showed an. increase, thus indicating consistent improvement in trade. The combined total of clearings of principal provincial cities amounted to £1.394,793,000, an increase of £51,717,000 sterling, or 4.1 per cent, over 1933. The amount paid on 24 Stock Exchange settling days was £3,464,795,000, an increase of £279,995,000 or 8.7 per cent., compared with 1933.

The figures are generally regarded as very encouraging, although they are still some way below the record reached in 1929.