IMPROVING TREND

Gisborne Herald, Volume LXVI, Issue 19985, 10 July 1939, Page 6

IMPROVING TREND

INDUSTRIAL ACTIVITY CONDITIONS IN BRITAIN Wool- SALKS OLTLOoK RISK OX A! A Y PRICKS (Eloc. To!. Ccr-yrigh:--- CnileU Press Asm.) (Rccd. July 10, 12.30 p.ni.i LONDON. July 0. "Is it :> boom?" asks the Financial Nows in drawing attention to the excellent unemployment figures, tne recovery in steel, shipbuilding, coal, engineering and textile industries, and the expansion of sales and the rise in rail traffic. The article declares that the present level of the national output bos boon rarely attained in the past. "Yet what is so mystifying is that there is no Stock Exchange new capital market boom and no bidding up ol‘ commodities or rush to hie up slocks.” continues the iFkrancial News. "On the contrary, there is a complete absence of confidence. This is due partly to Herr Hitler, partly to inactivity in the United States, and partly to the .better capital equipment of British industry, enabling the output to be increased without scarcity." The wool sales should be extraordinarily interesting. A lively sale of crossbreds is expected. The supplies, though greater than last year, are not excessive and the prices are expected to i’oe 5 per cent to 10 per cent above the May rates. Tiie activity in France. Belgium end Holland, however, is nothing like as great as in England, and for this reason ■buyers from those countries are likely to be cautious. A .shortening tendency in Ne.w Zealand butter supplies has caused a further improvement in prices. 'Australian is slightly freer. As a result of the wide margin of prices a further general advance is not improbable.