PRICES MOVE UP.

Press, Volume LXVIII, Issue 20636, 27 August 1932, Page 16

PRICES MOVE UP.

MOVEMENTS IN BRITAIN. LAYING SLUMP BEHIND., ; .Attention in the markets of the worldis dailv- being more clqsely-ri.ve, ted on the course of .commodity prices, says the London "Daily, Express,'.' dated July ■l4th; " ', . [\': > For four successive w.eeks prices have risen. Hopes are growing that this, indicates "the 'end' of a three.years' commddity'slump which has produced worldwide depression, involved many countries in default, and destroyed millions of pounds of capital. Three factors arc bringing consumers back to the markets. Thoy are cheap money, a relaxation of exchange restrictions in several countries, and increased confidence in tho outlook.

The f Daily Express" index of commodity values is at its highest point since March 31st. The index, which is based on the 1930 average price of 20 commodities, has risen to 73.3, compared with 69.0 four weeks ago. This is the most pronounced upward movement since the rise in prices following the suspension of the gold standard. It has* been accompanied by a corresponding rise gold , prices, as measured by American indices. Dealers in the principal commodity markets are more hopeful than for months past. : 7 Gotton brokers report a much better demand in the Manchester markets. The shelves .of the world are devoid of stocks, and- there is a great hope of a revival in the Lancashire cotton trade, with 'consequent' increased demand for raw cotton.

.'•ln the rubber market an improved trade demand and more speculative enquiry have brought up the price from iast v month's low level of Igd per lb to •1 ltf-16d per lb. Kingdom stocks of rubber, which represent the reserve supply for all the European manufacturers, are steadily falling. They now represent five and a half months' supply, against seven .months' supply a year ago. In the metal market, tin has risen £25 a ton from the year's lowest level. More optimism is felt as to the future, for the statistical position is improving and available supplies are falling*' A better atmosphere also pervades the copper market,* the removal of the Russian menace and the fall in European stocks have produced a healthier position in wheat, and New York sugar prices have risen no less than 75 per cent, in a month. Wool prices are definitely on the up grade. The outlook for the Bradford woollen • industry is described as better than at any ■ time since the suspension of the gold standard. Other commodities which are rising in price include jute, tea, and rice. Rising prices mean a restoration of purchasing power to the primary producing countries, leading to a revival of international trade and more employment in 'the manufacturing countries.

At least one Waihi resident will have good cause to remember last week's bottle drive by schoolboys, says an exchange. For days past he had been busy-preparing a-home brew, and in preparing it had put in a lot of work in the evenings cleaning bottles, which ho, had stacked on a shelf alongside a shed. When he decided that the time had arrived for him to start bottling he went round to his private brewery and discovered, to his astonishment, that the bottles had disappeared.- He looked under the house and on the roof, and- even -under every cabbage plant in tbe garden, but tlto so-in-b nns ui> availing, his three score of bottles having vanished.