STILL UPWARD

Gisborne Times, Volume LXXIII, Issue 12077, 17 October 1933, Page 7

STILL UPWARD

LONG PERIOD OF DEPRESSION PASSING. ITNl T N MISTAKE ABLE SIGNS TN BRITAIN. , .MORE MONEY AND MORE WORK. (U.P.A by Elec. Tel. Copyright) LONDON, Oct. i 4. The Stock Exchange oontin ms bri,sk and cheerful. The gilt-edged section is firm, successful flotations of three large Dominion loans in a fortnight having had an exee'onr effect, but the industrial market is showing the greatest strength, this becoming more and mi pc pronounced and more remarkable when ’-he sharpness of the rise in prices in recent months is considered. According to the share barometer of one financial newspaper, which takes the basic figure of 100 as )<■presenting average values in ;930. lint ish industrials now stand at IUO 6, compared with 79.4 in mid-Septem-ber, 1932. and 63.9, in septemhe.' 1.931. The speeches of the Chance.lor ct the Exchequer and other Ministers all indicate that the long period el: depression is now parsing. Excellent revenue retur.nis, iivhi :h encourage the hopes of reduced taxation, the good Board of Trade returns, the reduction of employment, and the improvement in railway tariff's, are all factors contributing to make investors confident. The unemployment figures are particularly encouraging, for the decrease in staple industries is substantial, notably the (woollen industry. Since January, the number of ■unemployed in tile woollen trade has boon reduced by 52 pop cent; hosiery, .50 per cent; metal manufacturing trades, 30 per cent; iron and steel trades, 30 per cent; -and general engineering, 20 per cent.