BOTTOM REACHED

Manawatu Standard, Volume LI, Issue 111, 11 April 1931, Page 9

BOTTOM REACHED

COMMODITY PRICE LEVEL. BRITISH TRADE IMPROVING. AN OPTIMISTIC MINISTER. (United Press Association—By Electric Telegraph—Copyright.) (British Official Wireless.) Received April 11, 11 a.m. RUGBY, April 11. The President of the Board of Trade, Mr W. Graham, in the course of a speech he delivered to-day, said that tiiere were now signs of a trade improvement in many directions. Many authorities, he said, believed that commodity prices had reached the lowest figure. In consequence of the provisional settlement in India, conditions in the Lancashire cotton trade were definitely brighter. He trusted that an effective arrangement would be made which would absorb considerable quantities of Lancashire cotton goods now in the Indian market. In due course the pithead regulation of output under the Coal Mines Act would improve pithead prices. With regard to iron and steel, Mr Graham admitted the grave difficulties which confronted the industry., but he believed that much more could be done by a drastic reorganisation of industry, chiefly for the purpose of getting rid of weak ; redundant units, rather than by tariffs, which would adversely affect innumerable intermediate industries. A sound scheme appeared to be regional reorganisation, in which, for example, iron and steel manufacturers in Scotland would for all practical purposes become one unit.

Referring to the Government having insured the construction and marine risks of the giant Cunard liner now being built at Clydebank, Mr Graham said that the Government was willing to provide for the insurance of a second Cunarder if and when the company decided to proceed with its construction. Taking all the circumstances into account, Mr Graham felt that they were now beginning an upward movement in British industry and commerce. SHIPBUILDING PROGRAMMES. HUGE TOTAL COST. Received April 11, 10.5 a.m. LONDON, April 10. The Daily Mail states:— “Confidence in an early revival of trade is indicated by the shipbuilding programmes. “It is estimated that there are present building or projected more than £30,000,000 worth of large liners, including the two Cunard vessels, five projected Canadian Pacific Railway liners at a total cost of £10,000,000, and three motor liners for the White Star Line.