LATE COMMERCIAL

Sun (Auckland), Volume II, Issue 454, 8 September 1928, Page 15

LATE COMMERCIAL

SOUTHERN EXCHANGES TO-DAY’S SALES Press Association Wellington. —Reported: Howard Smith (orcL), 29s 9d. Christchurch.—Oil 'Change: National Bank of Australasia (£5 pd.), £9 9s 9d; New Zealand Refrigerating (10s pd.>, 9s 3d (3 pels.); Westport Coal, 30s 3d; Mahakipawa, Is (10 pels.), lid, Is (11 pels.). Reported: Hayward’s Pictures, 20s. Dunedin. —Reported: Commercial Bank, 30s Bd. BUSINESS ON UP-GRADE EFFECT OF LOWER BANK-RATE The general trade outlook in New Zealand, with the partial exception of the btiilding and associated industries, remains favourable, and recovery is being hastened by the easier bank rates now prevailing, says the current issue of the Chamber of Commerce Journal. These rates may be expected to result in an early increase in the volume of imports and a corresponding reduction of the now excessively favourable trade balance, the journal continues. Practically alone among the statistical records the figures for unemployment and for New Zealanders permanently departing show a continuation of the slump conditions in evidence during the past three years. But even the latter is beginning to show an improvement. “It is not unusual, especially in times like the present when the general price tendency on which temporary upward and downward price movements are superimposed is downward, for the employment situation to be slow in reacting to changed conditions, and recovery here is further retarded by the fact that in the winter months employment is always at a minimum, concludes the journal.