INDUSTRIAL ACTIVITY

New Zealand Herald, Volume LXX, Issue 21403, 30 January 1933, Page 7

INDUSTRIAL ACTIVITY

CONTINENTAL REPORTS GERMANY THE EXCEPTION (Received January '29, 11.25 p.m.) LONDON, .Tan. 29 Encouraging reports of industrial activity come from the Continent. Some of the woollen factories in Roubaix are working at full capacity. The only discouraging tidings are from Germany where the political uncertainties have resulted in an increase in the unemployed of almost 500,000.

BRITISH CONDITIONS DISTINCT IMPROVEMENT SOUNDNESS OF FINANCES British Wireless RUGEY. Jan. 27 Mr. Reginald McKenna, chairman of the Midland Bank, in an address to shareholders at the annual meeting, described conditions in Britain to-day as distinctly better than a year ago. " Notwithstanding the persistence of the high level of unemployment," ho said, " our national finances are sounder.

" A marked reduction has been mado in the balance of imports over exports. The volume of business has been fairly maintained. New industries have been established and, thotagh exchange and ether restrictions are stifling trade with foreign countries, there are signs of steady development in experimental trade. " This improvement" has not been helped by events abroad. The hopes vliich arose from the success of the Lausanne Reparations Conference last year have vanished in face of the disappointment regarding America and war debts."

INCREASED DEPOSITS FIVE PRINCIPAL BANKS British Wifeless RUGBY, Jan. 27 The outstanding feature of the balancesheets of five of the principal English banks, which have just been published, is the unprecedented growth in deposits. These now stand at £1,773,278,000 an increase of £209,398,715 for the year. The increase has been achieved in spite of a reduction of £119,882,156 in advances, which ordinarily would have involved a similar reduction in deposits.