TRADE REVIEW

Hokitika Guardian, 30 May 1933, Page 6

TRADE REVIEW

AN IMPROVED TONE OPTIMISM IN ENGLAND. t United Press Association— By Electric Telegraph—Copyright) LONDON. May 27.' The decision of the United' States to abandon the gold standard and to permit war debts to be paid in paper currency ■ h*fd an instant and stimulating effect on the London Stock exchange. There was a marked revival ili gilt-edged stocks, which for the last month; have been steadily declining.. Yesterday they were very weak because of the low price at which the weekly issue of the 2-J- per. cent conversion loan was allotted, but this morning Is news brought a rapid recovery, some British funds advancing:'more than 1 per cent. s Earlier in the week there wasmarked activity in industrials, due partly, as the “Statist” says,, to a continued' improvement in commodity f|||eqs, \vhicli: derived its main impulse developments in. the Pruita.'.States, and- from' speculative ■Jtnfr&ipi.libtis regarding the outcome or the World Economic Conference, and partly also from the growth of speculative interest directly 'due to the concrete evidence of a revival in a large ■number of domestic industries, which is chiefly responsible for the return cf small investors to the miscellaenous m a rket.

AUSTRALIAN CONVERSION. Discussing the possibilities of the ■forthcoming 'Australian conversion operations, the “Investors’ Chronicle” says.-, “British investors must realise what the conversion problem involves, fi through ..postponement of .Hip .date, the conversion shbuld -miss: the. tide,' Australia will ancc, and thb, Lang party a) subject for agitation. If'the 1 Lang party were, t.o return, qn a wave of re- ; seritmgiß dti woiVU ..■(fiptf l>e measured bv. qparteiUr'pointk but -by? something^ VP ,. V "much'more ' , ' the rati on the state '.•tirade is again optimistic. The writer says: .“A noticeable ;cHhuge -for tlie. hotter lias occurred in the general +•''■ of industrial conditions both at Home and abroad. There is more than polities behind the recovery. So far as this country is concerned the improvement need not be ascribed only to seasonal causes, especially as .May of last year witnessed a recession and not an. expansion of trade.!’ 5 REPORTS FROM INDUSTRIES> Reports from various industries show a general slight improvement. Business in. the coal trade appears more hopeful, even though- prompt business is. dull. There- is a much better tone in the heavy industries, accompanied by the receipt or fresh orders by certain sections. Among: the textile trades wool and jute are much better. Linen and rayon have also improved. In' the cotton industry the rise in prices has proved a distinct stimulus, but the Indian market is still overburdened with heavy stocks. Pottery, leather, and boots and shoes are all better.