MONEY EASIER

Gisborne Times, Volume LXXX, Issue 12201, 13 March 1934, Page 2

MONEY EASIER

INCREASE IN ADVANCES

' IMPROVED TRADE PROSPECTS

IN BRITAIN

EVERY PART OF COUNTRY SHOWING IMPROVEMENT

(British Official Wirelesw.)

RUGBY, March-- H

Further evidence of the improved prospects in trade is afforded in the February statement of, several of the London clearing banks, which, for tho first time for several months, shows that advances to customers have increased'.

It is usual at this period of the year, for deposits, cash holdings and the hill portfolios to decline owing to the activities of the tax collector. In the past month, however, hank advances to customers show an increase. The total amount of advances was £741,873,000, compared with January figure of £737,642,000. Dr E. L. Burgin, Parliamentary Secretary to the Board! of Trade, speaking at Reading last night, said there \vas no part of the country, and no industry, in which there was not a striking improvement. One outstanding feature was the way in which the reserves of the country had increased in value. In gilt-edged scurities) 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 the advance towards more prosperous conditions, was recently revealed by Air AValter Runciman, who stated in 1933 that no fewer than 646 new factories had been established in Britain, and the totial number of persons employed m them last year was 44.750.