BETTER BUSINESS

Evening Post, Volume CXVI, Issue 60, 12 March 1934, Page 7

BETTER BUSINESS

ADVANCES IN BRITAIN

EVIDENCE OF IMPROVEMENT

VALUE OF RESERVES

'British Official wireless.) (Received March 12, 1 p.m.) RUGBY, March 10. Further evidence of improved prospects in trade is afforded in the February statement of several of the London clearing banks, which for the first time for several months show that advances to customers have increased. It is usual at this period of tho year for deposits, cash holdings, and the bill portfolio to decline owing to the activities of the tax-collector. In the past month, however, bank advances to customers show increases. The total amount of advances was £.741,873,000, compared with the January figure of £734,642,000. Dr. Leslie Burgin, Parliamentary Secretary of the Board of Trade, speaking at Reading last -bight, said that there -was no part of the country and no industry in which there was not a striking improvement compared with a year ago. One of the most remarkable evidences of improvement was the way vi whicii the reserves of the country had increased in value. In gilt-edged securities the rise had been 26 per cent, over 1931, in business securities it was 32 per cent., and in all securities together it was 40 per cent. Another indication of advance towards prosperous conditions was recently revealed by Mr. Walter Runeiinan, President of the Board of Trade, who stated that in 1932 no fewer than 646 new factories had been established in Britain, and the total number of persons employed in them last year was 44,750. .