BRITAIN MORE CHEERFUL

Evening Post, Volume CXIII, Issue 1, 3 January 1927, Page 9

BRITAIN MORE CHEERFUL

EMERGING FROM GLOOM

THINGS BETTER ALL ROUND.

(United Press Association.—Copyright.)

LONDON, Ist January.

The unanimous feeling that England is on the verge of an all-round happier and more prosperous year gave prewar gaiety to the dying year festivities. Enormous gala parties were held in all hotels, which were more elaborately decorated, than at any time since the war! The streets were thronged, and everybody was in buoyant spirits, and seemed glad to see the last of 1926, which has been about as bad as it could be, and to feel that England is about to ' emerge from the clouds of depression. • • This is by no means false'optimism. The Stock Exchange radiates cheerfulness, talking hopefully of cheaper money iv the New Year. Everywhere the general trade position is better than for years. Huge contracts are awaiting fulfilment. The old year- has seen the reconstruction of a number of great industrial concerns, whereby the position should be immeasurably better. The growth of amalgamations is also a sign that Britain is preparing to take the lead. "We may look to the New Year with quiet confidence, "is a sentence in the annual review of one of the principal firm of wool brokers with "reference to their particular trade, and the same sentiment is expressed l>y people connected with almost all classes of business. I Everywhere a feeling of: cheery optimism is apparent, and there is a' general disposition to forget the troubles and bad times of 1926. INDUSTRIAL KEVIEW. Tlie resumption'of work in the coal, mines occurred too close to the Christmas holidays to permit of heavy indus-, tries to resume fully before the end of the year, but there is abundant evidence of an early improvement. The iron and steel trades and a number of shipyards have more orders than for some time past. Engineering trades, particularly motors and electrical manufactures, arc also receiving a good number of orders,' and the textile trades, boot and shoe, and pottery and chemical industries are all becoming increasingly active. The Stock Exchange wound up for 1928 in good form. Prices all round were remarkably firm, and there was an almost entire absence of any-selling pressure.' Certainly the volume of business was not great, but the firmness of gilt-edgeds, occasioned by the favourable reception accorded the conversion loan, spread to other departments, with thj> result that,the tone all round was confident. orders are expected when the Exchange reopens on Monday.