BRIGHT PROSPECTS

Rotorua Morning Post, Volume 3, Issue 628, 5 September 1933, Page 5

BRIGHT PROSPECTS

(Press Assn.

signs of revival increased Business shown in many 1ndustrial branches BANKS OPTIMISTIC

— By TeBgraph— Copyright).

Lond'on, Sept. 3. A general review of trade and finance in Britain gives most encouraging signs of a revival of prosperity. There has he'en an exceptjonally busy nionth on the Stock Exchange transactions heing six ,times as great as in Au'ghst, 1932. A very satisfactory fe'ature, from the Australian point of view, is the strength of Commonwealth and State stocks, which show general improvement as the result of the rise in wool prices. A feeling of optimism in regard to trade prospects is spreading. Even the banks in their reviews are taking a hopeful view. "Clearly the expansive monetary policy pursued for the last year or so is bearing good fruit and we may expect • with some confidenee that its continuance will produce steadily Targe results. There is still, as there must be in a world so full of uncertainties, ample possibility of setbacks particularly owing to external developments, but it seems reasonable to suppose that the spring of 1933 may prove to have marked the clear beginning of positive recovery," says one statement Steel Works Active Aecor'ding to the official organ of Sheffield, the Journal of Commerce, impressive progress in the face of difficulties is being made by the Sheffield steel and engineering industries. It says: "The second half of the year has started well and improvement seems to be assured. The extra steel and products we are making as compared with a year ago account for probably an extra £50,000 a day. This is befoje the work involved by the increased naval shipbuilding activity is nearly in full swing. "The call for armour, guns, projectiles and other high-priced Sheffield products for the 50 ships of war to be built under the current naval programme is developing, but it is far from the volume it will assume later. There is increased activity in th'e big works where more workmen are being engaged nearly every day."