IMPROVED BUSINESS

Manawatu Standard, Volume LV, Issue 87, 11 March 1935, Page 8

IMPROVED BUSINESS

EVIDENCE IN DOMINION. i CONCRETE FACTS PRESENTED. Statistics illustrating the level of internal trade a.nd business activity in January of this year generally indicate a much improved position as compared with January of the immediately preceding years; the level of unemployment, in particular, being markedly lower than at this time last year, reports the Government Statistician. The total number of males partially or wholly a charge on the unemployment fund was 52,086 on January 19, as compared with 64,856 a year ago, a decrease of 19.7 per cent. January was a relatively busy month in respect of export trade, shipments of butter and meat being materially heavier than in January of last year. There was, however, a. marked fall in the exports of wool as compared with January, 1934, while exports of cheese were slightly lower. . Statistics of exports of butter and cheese indicate that dairy production to date is somewhat lighter this season than in the 1933-34 season, the Statistician states. Exports of butter during the period July, 1934, to January, 1935, were 4 pel cent, below the exports during the same period of the 1933-34 season, while a somewhat small fall is observed in the case of exports of cheese —viz., 2.8 per cent. Meat exports, on the other hand, have so far been heavier this season than last season, increases of 11.7 per cent, in the case of lamb, 6.6 per cent, in the case of mutton and 18.9 per cent, in the case of pork being shown during the last seven months as compared with the first seven months of the year ended on June 30, 1934. The decrease in the case of butter and cheese is no doubt due to the exceptionally dry season, which continued up to the middle of February and consequently will also probably affect February exports. The increase in exports of meat to date this season can probably bo attributed largely to the late opening of the 1933-34 season, partly owing to industrial trouble, and partly to temporary restrictions on exports in the early part of last season. Prices of butter and cheese are considerably better than was the case a,t this time last year. BUOYANCY OF IMPORTS.

A feature of the external trade statistics for several months past has been the buoyancy in imports. During the expired reveii months of the current exporting season the value of exports bss exceeded that of imports by only £IBI,OOO in New Zealand currency, an excess of imports being shown in July, August, September, October and December. The busy portion of the export season is, of course, vet to come; but it would seem that the excess of exports for the complete export season will not be nearly as great as was the case last season, the excess of exports during the first seven months of last season amounting to £6,917,000 in New Zealand currency, an actual excess of imports being shown only in one month last season (September). _ The value of imports increased from £2,791,000 (New Zealand currency) in December to £3,214,000 in January, the highest January figure since 1930. Exports during the month exceeded imports in value by £1,862,000 in New Zealand currency, equivalent to £1,495.000 in sterling. The declared value of exports during the month of January was £5,075,694, as compared with £5,080,538 during January of last year. A decrease in the volume of exports of wool as compared with the previous January, combined with the low prices now ruling for this commodity, resulted in a fall of £968,734 in the total value of wool exports as compared with the value in January, 1934. Increased exports of butter and meat almost counteracted the effect on the total value of exports of the fall in the declared value ot wool exported, the total value of exports being only £4844 less than in January of last year. January is normally a very slack month in respect of mortgage and landtransfer business, legal office® being closed for a considerable portion of this month. Mortgages registered during January were 900 in number, the total amount involved beiiur £6 C 1 This amount is over 60 per cent, higher than the figure for January, 1934, and is actually 7 per cent, higher than the monthly average for the calendar year 1933, a striking illustration of the improvement in mortgage business since that exceptionally low year. The number of land transfers and the consideration involved during January were also substantially in excess of that recorded during January of the three previous years. BANKING BUSINESS.

The average amount of money on deposit with the banks during January was £61,100,000, as compared with £60,600,000 in December, the lowest month during 1934. Deposits not bearing interest increased from £21,700,000 t0°£23,000,000, while a- slight fall in fixed deposits took place. The ratio of “free” to fixed deposits rose from 56.77 per cent, in December to 61.09 per cent in January, the highest figure recorded since September, 1930. Advances fell by £170,000, considerably less than the ‘fall which usually takes place between December and January, the ratio of advances to deposits falling from 71.30 per cent, in the former month to 70.42 per cent in the latter month. BUILDING RETURNS.

While the total value represented by building permits issued during the month of January (257,272) represented a fall of £16,381, or 6 per cent, as compared with the December figure, the position in January really compares very favourably with that in the previous month. Permits for the erection of 233 new dwellings were issued in January as compared with 179 in December, the total value represented by these permits being 49.4' per cent higher in January than in the previous month. The drop in the total value of permits is accounted for by a considerable decrease in the value of permits for “other” new buildings. The total for this item varies considerably from month to month, since the commencement of even one or two large business premises in one particular month has a marked effect on the figures. ■ Sales tax receipts during the month of January totalled £211,137, the highest monthly return since this tax came into operation and an increase of £8754 on the December figure. The January returns would include payment of tax on a portion of the goods imported for the Christmas trade. Sales tax receipts for January last year also showed a material increase over the December, 1933, total, but were £23,488 less than in January, 1935.