BRITAIN'S PROSPERITY

Hawke's Bay Herald-Tribune, Volume 81, Issue 48, 19 November 1937, Page 4

BRITAIN'S PROSPERITY

-Prees Associatfon.)

Big Industries Working at Peak shipbuilding revival

(By Telegraph-

AUCKLAND, Last Night. The enormous revival in shipbuilding activity, the continued firm and confident tone on the long-term ihvestment market and peak production in the steel industry, with further cxpansion restricted only by the shortage of labour, are characteristics of the present-day Britain, according to Sir Holberry Mensforth, an cminent English industrialist, who arrived in Auckland by the Rangitata. 4 Sir Holberry, who is prominently associated with leading sihip-building. steel, eleetrieal engineering and col-' liery companies, said that from the economic and industrial viewpoints tlie period of prosperity was-likely to eontinue for some time. "There has been an enormous revival in shipbuilding," Sir Holberry stated. Prosperity ruled in Britain. A shortage of the right type of labour was apparent." From his association with the eollieries in South Wales and Yorkshire, he knew they could dispose of more coal than could be produced by the amount of labour tjhat was available. Sir Holberry said the uneasiness which was reported to have been evident on Wall Street was bound to have some repercussion in Britain, but. the English financiers would realise that any related disturbance of confidence was a case of effect, ratlier than cause. There was a general idea abroad several years ago tfaat Britain was decadent. He would say she occupied a sounder position to-day than at any previous stage in her history. Sir Holberry and Lady Mensforth are in the course of an Empire tour. They will remain in New Zealand for about 12 days before traveLing to Australia.