CONFIDENCE RETURNING

Evening Star, Issue 21667, 12 March 1934, Page 9

CONFIDENCE RETURNING

THE POSITION IN BRITAIN ?TSIIKIKG ILLUSTRATIONS (British Official Wireless.) Press Association—By Telegraph—Copyright RUGBY, March 11. (Received March 12, at 11 a.in.) further evidence of the improved prospects in trade is afforded in the February statements of several of the Loudon clearing banks, which for the first time for several months show that advances to customers have increased. It is usual at this period of the year for deposits, cash holdings, and the bill portfolio to decline owing to the activities of the tax-collector. In the past month, however, the hank advances to customers show an increase. Tho total amount of the advances was £741,873,000, compared with the January figure of £734,042,000. Dr Burgin (Parliamentary Secretary to the Board of Trade), speaking at Reading last night, said 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 in which the reserves of the country bad increased in value. In gift-edged securities tho rise had been 2G 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 the advance towards more prosperous conditions was recently revealed by Mr Walter Runciman (President of the Board of Trade), who stated that in 1932 no fewer than 646 new factories bad been established in Britain, and the total number of persons employed in them last year was 44,750.