COMMERCIAL OUTLOOK

Nelson Evening Mail, Volume LXVI, 3 September 1934, Page 7

COMMERCIAL OUTLOOK

ENCOURAGING SIGNS INCREASE IN SHIPBUILDING (United Press Association—By Electric Telegraph—Copyright) (Received 3rd September, 8.5 a.m.) LONDON, Ist September. The weakness of sterling had practically no effect on the Stock Exchange and in most departments prices have been maintained with a good volume o' business. Gilt edged securities have shown considerable strength and other sound investment stocks are firm. (German bonds naturally have weakened as a 'result of Dr. Schacht’s proposal to extend the moratorium.

Thera is considerable activity in goldmining shares. The rapid advance m the price of gold lias not had the effect which might have been expected. On the contrary, nothing happened yesterday when the record price-was announced, most dealers adopting the wait and see policy. The past month lias been an unusual one in the new capital market. As the “Daily Telegraph” points' out, August, in the ordinary course, is the leanest month of the year for new issues, but on this occasion it has been, for the holiday: period, .-quite noteworthy for activity, which augurs well for the coming season- .. ; • ; Among the gratifying indications-, of improving trade* is the increasing activity in shipbuilding on thqjGJLyde. f Accordng to the “Financial News” new shipping tonnage launched on the Clyde in August was the best on record for the past four years. With four mouths still to go, the 1934 output has already exceeded, the production of the whole of 1933. To date thirty-six vessels of .67,786' tons have been launched this year, edinparpd with the 1933 aggregate of 55,869 tons. It is more than likely that the im ■ provement. will be continued for a time. There are a good number of mercantile and naval ships at nresent.on the.stocks due to bo launched hr the course of the next few months ill addition to the hew Cunarder, which will enter the water on 26th September. When the tonnage of the Cunarder is added, the aggregate output for the year will materially exceed the 140,000 mark, exceeding any year since 1930, when 246 vessels of an aggregate tonnage of 529,744 tons were launched.