BRIGHTER OUTLOOK

Nelson Evening Mail, Volume LXX, 5 October 1936, Page 5

BRIGHTER OUTLOOK

BRITISH TRADE RECOVERY OVER £ 1,000,100,000 MORE , CIRCULATING IN TRADE AND ; INDUSTRY (United Press Association—By Electric Telegraph—Copyright) (Received sth October, 11.50 a.m.), ’ LONDON, 4th October. The stock markets account ended cheerfully after what might have been a disturbed week following the revaluation of the franc. The success of Friday’s working of the international monetary arrangement, assisted by the absence of repercussions in Paris where the bourse is reopening after a week, stimulated the London security markets.

Gilt edgeds which were affected by undue bearishness earlier in the week completely recovered. Dominion stocks are firm. Iron and steels appreciated on Sir Samuel Hoare’s hint of acceleration of rearmament, and. industrials reflected the market’s view' that devaluation did not threaten British industry. , • A continuance of the British trade recovery is instance in the fact that over £1,000,000,000 more is circulating in trade and industry than at the corresponding time last year. According to bankers clearing house cheques and bills dealt with last week were £162,291,000, making the total increase In the first three-quarters of the year of approximately £1,130,000,000. STRENGTH OF WOOL MARKET Emphasising the strength of the wool market as evidenced in Australian sales, experts point out that Yorkshire is thereby showing buyers’ confidence in the present values and topmakers feel that the Japanese cannot remain aloof much longer. BUTTER FAIRLY ACTIVE Butter has been fairly active this week, Australian and New Zealand recovering to 105 s but this subsequently declined to 104 s, partly as a result of a denial of the report that America intended to impose a dumping duty against continentals, also to the fact that buyers had acquired a fortnight’s stock. Cheese recovered in sympathy with butter.