TRADE IMPROVEMENT

Rotorua Morning Post, Volume 1, Issue 30, 28 September 1931, Page 3

TRADE IMPROVEMENT

"confidence is returning" AUCKLAND, Saturday. The receipt of optimistic messages regarding the condition of the markets in Great Britain was reflected by a more cheerful outlook in the business community in Auckland yesterday. The general opinion in the city was that the trade in primary products would reap immeasurable benefits from the new conditions. The Auckland Stock Exchange showed a

distinctly firmer tone. The following cablegram was received by Hancock and Company, Ltd., yesterday: "Market is excited and large business is doing. Confidence is returning. Upward tendency in the market likely to continue." Commenting upon the situation, Mr. Ernest Davis, a direetor of the company, said the price of raw commodities had been the barometer of the whole industrial position. The large British manufacturers had apparently realised that the prices of raw materials had at last reached bedroek, and that they must now buy to replenish stocks. "As soon as they start to manufacture, the whole machinery is set in motion and the wheels of industry begin turning again," Mr. Davis | added. "One most. important result j that will be the outcome of these de- ! velopments is the stimulation which j will be given to trade within the ; Empire. In this respect it is likely ■ that New Zealand will feel a greater j measure of benefit than. will be the case in Britain, for it must be rememj bered that Britain's trade beyond the ' Empire is much greater than its trade : within it."