BRITISH TRADE

Northern Advocate, 17 September 1934, Page 5

BRITISH TRADE

ALL-ROUND IMPROVEMENT

IMPORTS FOR EIGHT MONTHS

INCREASE OF £50,000,000

(United Press Association —By Electric Telegraph.—Copyright.) (Received 9 a.m.) LONDON, September 15. The Board of Trade returns for August show that the value of imports totalled £60,027,060, an increase of £3,272,602 compared with August, 1933. The value of exports was £32,090,009, an increase of £1,093,261, and of re-exports £3,301,597, a decrease of £998,839.

For the first eight months of the year there is an increase in the value of imports of nearly £50,000,000, This increase is heaviest in the category of raw materials and unmanufactured articles which, compared with the corresponding period of 1933, show an advance of £27,554,964. Articles wholly or mainly manufactured increased by £ 17,626,342, and food, drink and tobacco by £4,015,220. Exports during the eight months of articles wholly or mainly manufactured show an increase of £15,091,088 on 1933, while raw materials exported advanced by £1,831,076, and food, drink and tobacco by £1,980,815. The principal increases last month were.—lmports: Meat, £627,000; beverages and cocoa preparations, £519,000; tobacco, £438,000; wood and timber, £505,000; rubber, £864,000; nonferrous metals and manufactures thereof, £594,000; oils and fats, manufactured, £541,000. Exports: Iron and steel and manufactures thereof, £461,000; machinery, £443,000; cotton yarns and manufactures, £427,000. The chief decreases were.—lmports: Dairy produce, £441,000; other foods, £674,000; wool, £814,000. Exports: Non-ferrous metals and manufactures, £611,000.

Stock Exchange Brisk. With the holiday season drawing to a close the London Stock Exchange is beginning to show more activity, and the general tone is quite satisfactory. The gilt-edged market is steady, with the Dominions’ stocks in good demand. ? , The new Nigerian conversion loan

had a good reception. Argentina’s conversion of a number of 5 per cent, stocks, amounting to nearly £10,000,-

000, into 4£ per cent, sterling bonds at 93£ was also well received. The latter issue is interesting from the fact that Argentina’s credit is so good that the Government has been able to dispense with the underwriting of a large proportion of the issue, only about £4,500,000 being underwritten.

Railway Revenue Goes Up. A significant feature of the railway traffic receipts for the past week, which show an advance on the four main lines of £IOI,OOO over the corresponding week of last year, is that the increase is due almost entirely to the greater volume of merchandise and coal carried. This reflects the continual steady improvement in the country trade. The increase in receipts over those of last year is regarded as particularly satisfactory, as the comparison is a week in 1933 which shows an increase over the corresponding increase over 1932 of £151,000.