TRADE BOOMING

Waikato Times, Volume 121, Issue 20262, 3 August 1937, Page 9

TRADE BOOMING

REPORTS TO MINISTER. DOMINION-WIDE IN BCOPE. COMPANIES’ INCREASED PROFITS. (By Telegraph.—press Association.) ■CHRISTCHURCH, Monday. “ Further evidence of brisk trading conditions is contained in the periodical reports from my district officers in the four centres,” said the Hon. D. G. Sullivan, Minister of Industries and Commerce, in an Interview to-day. “ This activity is Dominion-wide and extends to practically every line,” said the Minister. “ Reports for the quarter indicate heavy trading, both wholesale and retail, and- merchants report that trade has shown a distinct improvement on that of the corresponding quarter last year. The reports prove beyond all doubt that Hie people of the Dominion are enjoying a greater prosperity than they have done for many years past and this is due in a very'large degree to the Government’s policy of increasing the purchasing power of the people. Manufacturers' Position. 44 Despite melodramatic statements to the contrary the position in which our manufacturing industries are placed to-day is immeasurably better than that in which they were two years ago and steps are 'being taken r by the Government to see ■what can be done still further to improve the position of those industries which we consider might be adversely affected by overseas competition. 44 Speaking generally staffs and production have increased appreciably Rnd many industries are working to full capacity and are unable to supply the orders on hand. The district officer at Auckland informs me that six public companies in Auckland announced during the quarter the results of their trading for the past year. Everyone of these companies showed decidedly Increased net profits over the previous year. One well-known firm, in fact, increased Its net profit from £■61,000 to £104.000. 11 This report Is typical of those I am receiving from my other offloers and Is definite proof that Industry as a whole Is enjoying a period of prosperity whloh has not been theirs for many years." EXCEBB OF DEPOBITB. SAVINGS BANK FIGURES. IMPROVEMENT OF £500,000. (By Telegraph.—Press Association.) DUNEDIN, Monday. An Improvement of over £500,00 In the excess of deposits over withdrawals in the Post Office Savings Bank for the June quarter as compared with the same period last year was reporter! by the Postmaster-Gen-eral, the Hon. F. Jones, this morning. The returns are as under: — 1937 1936 £ £ Deposits .. 8,722,287 6,502,367 Withdrawals 7,317,318 6,644,807 Excess of deposits £1,404,969 £857,560