BRITISH CAPITAL

Evening Post, Volume CV, Issue 81, 5 April 1923, Page 8

BRITISH CAPITAL

INVESTMENTS IN THE DOMINIONS

Investments of British capital in the Dominions is referred! to in-the Department of" Overseas Trade Bulletin (received from the British Trade Commissioner's Offioe, Wellington). Quoting figures issued by the London Joint Stock and Midland Bank, the Bulletin stateß: —

During the first six months of 1922 the amounts of new capital invested Overseas amounted to approximately £103,000,000, of which over one-half went to foreign countries. During the laet six months there was, however, a sharp fall, the amount of new capital for Overseas being only £32,000,000, of which about_ £4,400,000 was invested in foreign countries.

Of tho total amount invested within the Empire- (£75,500,000), £58,400,000 was for Dominion Governments, etc., £7,430,000 for municipalities and other publio bodies, and £800,000 for railways, the remainder—rather under £9,ooo,oo(>—being for various commercial and industrial purposes. In the case of the foreign countries, the proportion, going to Governments was much smaller —£14,250,000 out of a total of £59,700,000—municipalities* took another £7,100,000, railways £14,530----.000, and tho balance of £23,100,000 went to various other purposes. '

. Whether this falling off in capital investment will be reflected in tho export trade during coming months. remains to bo seen. There _ was, at any rate, no obvious effect of it during the last quarter of 1922, for it would appear- that where allowance is made.for a slight fall in the level of export prices during the last quarter, there was a substantial improvement as compared with each of the previous three quarters of 1922. The volume, of our export trado during the last three months was equivalent to 75 per cent, of that of 1913, tho proportions for the previous quarters being 71.3 per cent.. 64.3 per-cent, arid 65 per cent, respectively. The figure for November, indeed, was just over 80 per cent., representing a volume of trade equal to that of any month since the war. :