UPWARD TREND

Hokitika Guardian, 28 October 1933, Page 6

UPWARD TREND

INDUSTRIES OF BRITAIN SHIPPING THE EXCEPTION', LONDON September 24. Except In the case of slipping, an upward trend in the economic conditions in Britain, which should be maintained in the coming few years, is reported by leaders of industry to the Sunday Times. i Expressing himself as certain that the industrial improvement will continue, Sir Arthur Balfour (steel, banking and insurance) points to more efficient methods of production as a sign j that industry is better equipped now ■to meet the exigencies of the times'. His only fear is that there may be a failure of the American recovery experiment, which would delay a complete revival. “The brilliant summer has strengthened the home cotton trade,” says Sir Anios Nelson. ' “Exports to Australia, New Zealand and South Africa are improving and, confidence is slowly returning.” Sir John Beale agrees with Sir Arthur Balfour that the activity in the steel industry will continue, and great improvement m the coal, iron, and steelplate industries is reported by Sir David Llewellyn. But no one is optimistic in regard to shipping. While the tonnage under construction shows the first upward tendency since 1930, the position generally according to the Sunday Dispatch, amounts to a crisis. Asserting that they receive lower wages than most European officers, foiuvfifths of the 15,000 officers of the mercantile marine have, presented a petition against low-wage conditions.