A GOOD YEAR

Hokitika Guardian, 28 December 1932, Page 6

A GOOD YEAR

CHEEKING FORECAST FOlt 1903

OBSERVER’S VIEW OF FUTURE

LONDON, December 24

The city editor of the •'Evening Standard” G<ke s a filtering vi e w of the prospects (for 1933. He says : "It will be a good year for Britain if only we , keep our goal, recovery, ,m view. loe | British .sky is less clouded than toi , three years past, th e markets ending 1932 with move business, better P''c e -’ ~n d a great deal more hopefulness, ldio will be a British year, both domest,(. and foreign, and at|,n“on is going to be concentrated on our progress. •Rich clients, who we r e wondering ear!.' in the spar whether to hold dollars, francs or g-ud as the safest hoard re-, oently have been buying gilt-edged, ( and British equities. They see certain recovery,"though it niay not ve here,” The ••Evening (Standard'’ continues: ‘•The Continent knows that Britain is overcoming her difficulties. The Gsrmans envy us the Frtenchmen want to co-operate with us. Only one flung can stop revival, namely a stupid monetary policy aiming at a rush back to gold. A gratifying result of the imposition of tariffs has been that. British manufactures have been able to capture t he "route,- part of the toy trade, which formerly was almost a German monopoly.” -• . , According to tb)3 '‘Evening San dard,” a British firm has succeeded m making cliina-heacled dolls, which f<».* mbrly, it was believed, only Germany could prodik. A factory near Lon don is turning out nearly 3000 dolls weekly at an average trade price o four shillings each. AWAITING DRY LAW APPEAL. In anticipation of the repeal of lm-hibit-ion in th e United. States, a number of British firms manufacturing brewery plant havie- been carrying out a great propaganda campaign-and are prepared to rush machinery to America for installation the moment that legislation permits the manufacture of beer. Before the United States went dry in 1919, thbre were 1500 breweries in full swing and th. bulk of their plant wa s scrapped when Prohibition became law. The British propaganda has str t ssed the superiority of British patents o'er C° n tinental make, and has impressed this on a number of rep:UscntatTv,;..s or American syndicates who have recently visited here. ' STOCK EXCHANGE FIRM.

The Stock Exchange closed for the holidays in a. cheerful frame of -mind. Firmness was apparent practically in all department?, the only weakness being in foreign rails, with fair business passing in gilt-edged s at higher ptultcs, Amjtp.lVans and. New Zealands being" noticeably' firmerV ' “N<?w South Wales benefited by ’Mr Stevens’ optimistic account of that ' Stabs, which was duly given prominence _Jn the newspapers. A satisfactory feature-is the improved demand for many industrial -ghanes in which geriuin.3.. investors ar-e beginning to take an interest'? again. SUFFERING FROM NERVES. Thb butter market shows little signs of improvement. There have been sporadic bursty of buying, but these ceased as '.soon as retailers had filled their immediate rtqnirements. The position i s well described in Weddel s monthly report: ‘-To put it, mildly the market for some time has been suffering from nerves. Buyers, fully aware that large quantities had arrived or were due from ,N)ew Zealand and Australia, have restricted their purchases accordingly, white the importers, in an endeavour to prevent the accumulation of stocks, have had no recourse, but consistently to reduce prices in the hope of securing business Unfortunately owing to the system of quotas and high tariffs imposed by various Continental countries, the reexport of butter to these markets has been considerably restricted and the amounts thus dealt with are Very much Jess than at the same time in 1931.”