BUSINESS FACTORS

Nelson Evening Mail, Volume LXXII, 28 November 1938, Page 4

BUSINESS FACTORS

TRADE AND BANKING BUILDING ACTIVITY Noteworthy features of recent statistics illustrative of business conditions j are the lower level of exports by comparison with this time last year, the excess of imports over exports, and the fall in the overseas funds of New Zealand banks. reports the Government Statistician. An import excess and a fall in overseas funds are usual at this time of the year, but the comparatively low level of the overseas funds (£17.025,712 at 26th September, as compared with £29.985,356 twelve months earlier and £34,028.339 in September. 1936) attaches special significance to these factors in the economic position. Bank debits—i.e., the value of cheque transactions—show a lower average in September than in August, and also an average below that for September. 1937. The net bank-note circulation, however, was higher in September than in • August, and substantially higher than In September. 1937. Bank deposits, both free and fixed, have receded slightly, while the amount of advances is the highest yet recorded. The total value of building permits Issued in the larger centres during September was £780,516, a decrease of £49.011 below the exceptionally high total in August (£829.527), but an increase of £72,286 over the total in September. 1937. Permits for the erection of dwellings during September totalled 579, for a value of £561.054. an increase of 154 in number and £151.911 in value above the figures for the corresponding month of last year. Included in the dwelling permit figures for September. 1938, are 254 dwellings, the construction of which Was commenced by the Housing Construction Branch of the State Advances Corporation. Mortgages registered during the month of September numbered 2171. for a total value of £1.825.582, being a decrease of 157 in number and £116,128 in value when compared with the figures for August. Mortgages discharged in September (number. 1080: value, £1,375.732). also show a decrease below the figures of the previous month, the differences amountinf to 200 and £188.772 respectively Land transfers registered during September numbered 2531 for a total consideration of £1.979.420, a decrease of 261 in number of £529,694 in value when compared with the previous month. The amount of sales tax collected in September was £296,020, an increase of £BSOI above the total for the previous month, but a decrease of £4694 below the amount collected in September ol last year. During the nine months ended 30th September, sales tax collections amounted to £2,556,122, being slightly above the total for the corresponding period of last year (£2.554 348)