BRIGHT SPOTS IN THE NEWS

Dominion, Volume 25, Issue 265, 4 August 1932, Page 8

BRIGHT SPOTS IN THE NEWS

Further improvement in the prices of copper, tin and other base metals is shown in the latest quotations from London.

Britain’s War Loan conversion scheme has fulfilled the highest expectations and a great national saving will ultimately accrue. -Some fourfifths of the total has been converted

The firmness in the stock and share market was fully maintained yesterday. On the Wellington exchange the demand was as active as ever and 12 sales-were recorded, a further hardening in Bank of New Zealand shares being the main feature of the day’s business.

A Christchurch boot manufacturer reports that despite reduced prices its turnover has kept on increasing. In the last 12 months it has engaged 60 new hands and its wages bill has increased by over 20 per cent. Its purchases of locally produced materials have increased by over 50 per cent.

A prominent Wellington firm of land agents reported yesterday that it had sold 45 city and country properties during the last four months.

The Wairarapa Power Board’s renewal loan of £17,450, issued in the form of £lOO debentures, bearing interest at 5J per cent., placed on the market eight days ago, has been oversubscribed by £6OOO.

“Reports from other racing centres record an improved financial tone, and the business community, looking upon the totalisator receipts as a financial barometer, are remarking that perhaps the turning point in the depression is reached and that the financial position will improve.” said Mr. J. E. August, president of the Wellington Trotting Club, at the club’s annual meeting last night. __________