BRITISH TRADE

Hokitika Guardian, 28 November 1933, Page 6

BRITISH TRADE

THE FORTNIGHTLY REVIEW,

FIRMS INCREASE STAFFS,

LONDON, November .25

Upward tendencies in the trade position are 'reviewed in the fortnightly commercial summary. As far as individual industries are concerned reports are .satisfactory.

Both in activity and the volume of inquiry in the engineering industry shows no signs of falling off. Motor-cars manufacturers ai'e working at full pressure.

Many firms have .been compelled to increase their staffs.

The value of building plans passed in October, though somewhat lower than in previous months, shows an increase compared with October, 1932. The chemical industry has made further headway.

The pottery trade is more active. The shipping industry remains depressed, but recently there have been indications of a slight improvement with the hardening of freight ratesBoot and shoe manufacturers repo r t a falling off in the demand, but the news 'from the textile districts is encourag-

The wool and textile tr a de have experienced a (striking recovery. The increase in the demand for rayon fabrics has been maintained. Even the cotton industry appears to hjve made some headway , both at home and abroad. ;

The retail trade has been more entouiaging in the past month. Present indications point to an improvement in sales for Christmas. ii butter.

The consumption of butter continues to be remarkably good, thanks to the low retail prices. Some stores are selling Australian Kangaroo brand butter at 91 d a lb. and others at lOd and lid. 'Several firms are packing Australian and New Zealand butter in pound and half-pound cartons, which is proving very attractive, but the market is overshadowed by the heavy prospective supplies, no fewer than 1,170,840 boxes being afloat from Australia, New Zealand and Argentina, and consequently the prices of Australian and New Zealrtnd butter ■ have dropped this week. Buyers are showing more disposition to operate at these lower prices. The outlook is not regarded as promising. EGGS. The egg market is also depressed for the same reasons. English and Continental eggs are plentiful owing to tho continuance of the mild and oneu weather. It is reported that 75,000 case® of Australian eggs are due to arrive next week. , PRICES OF STOCKS RECOVER-

The atock markets recently have presented a very dull appearance; which 'i s , hot surprising when the uncertainties of the. : international situation are considered. A. well-informed .financial 'writer says tljat tlie.iinVestrnent market "is._still apprehensive regarding the outcome' of the dollar depredation policy,-: : and. the French position i s creating some misgivings. The virtual collapse of the. .TRkavmament Conference is also a disturbing factor. Amid these surroundings the favourable trend of home developments, reflected an the brighter trade and hopeful revenue returns, fail to have any beneficial effect. Such were the conditions prevailing till Thursday, when the brokers and jobbers began to take a more optimistic view and there was a general recovery in prices, though business was not very active or satisfactory. .Australian and New Zealand stocks generally remained firm when British funds showed weakness. Australia's position is now regarded a.s most satisfactory, and newspaper comments are unanimously laudatory. Fo r instance, tho “Stock Exchange Gazette” has an article headed “Australia Aid', vances.”

Although Air Roosevelt's policy or depredation on the external value m the dollar is hampering the economic recovery of the world, it has had no great effect hitherto on Great Britain. But as the “Economises” trade supplement points out, the scope for further expansion in this country is definitely limited in the absence of improvement elsewhere. “Moreover,” it says, “the present level of activity cannot be maintained for long in the ■face of the serious deterioration of other countries. For example, the further fall in the value of the dollar and the renewed decline tin the purchasing power of agricultural countries might seriously weaken our export position.”