MANY NEW COMPANIES

Dominion, Volume 28, Issue 94, 15 January 1935, Page 9

MANY NEW COMPANIES

Evidence of Recovery in Britain MUCH CAPITAL INVOLVED By Telegraph.—Press Assn.—Copyright. (Received January 15, 12.10 a.m.) London, January 14. A striking indication of the economic recovery of Britain is contained in statistics of new companies registered in 1934 at Somerset House. These total 12,475, being an increase of 10 per cent. This represents a record since the first Companies Act in 1844. The capital involved, £143,000,000. is an increase of 50 per cent, over 1933. BIG ADVANCE SHOWN Britain’s Heavy Industries (British Official Wireless.) Rugby, January 12. A big advance during 1934 in heavy industry is revealed by the director of the British Iron and Federation, Sir William Larke. Steel production totalled approximately 9,000,000 tons, representing an increase of 30 per cent, over 1933, and pig iron 6,000,000 tons, an increase of 35 per cent. British exports of iron and steel were proportionately higher, rising from 1.920,000 to 2,250,000 tons. Comparisons are more striking in that 1933 showed an increase of 33 per cent, in steel and 15 per cent, in pig iron over figures for the previous year. Employment on blast furnaces, iron and steel rolling tube manufacture, and general engineering also improved notably in recent months.