CANADIAN PROSPECTS

Wairarapa Times-Age, 16 September 1938, Page 3

CANADIAN PROSPECTS

MORE FAVOURABLE OUTLOOK. MONTREAL, Canada. “In a number of important respects the Dominion is closing the first half of the calendar year under conditions more favourable than those which obtained in the early months,” says the monthly letter of the Bank of Montreal issued on June 22. This points out that crop reports in the West,are better than they have been in any corresponding period in recent years and that production of such minerals as gold, copper, nickel, lead, petroleum and natural gas has been rising. “Retail sales in April showed a gain of 17 per cent over March and four per cent over April, 1937. Sales of new automobiles, which during the first quarter of the year were more than 20 per cent below the figure for the parallel quarter of 1937, in April ran only about one per cent below the level for April, 1937, and the improved demand continued into May. The better crop prospects also are resulting in an increased sale of farm implements and the needs of the mining industry are keeping machinery and equipment plants busy. Thanks to mining, armament and railway orders, the ‘heavy’ industries, for the most part, are still well supplied with orders.”