BUSINESS IN MAY

New Zealand Herald, Volume LXXV, Issue 23092, 18 July 1938, Page 5

BUSINESS IN MAY

SEASONAL SLACKENING HIGH NOTE CIRCULATION INCREASE IN UNEMPLOYMENT While statistics indicative of business activity during May reflect in general the seasonal slackening usual for that time of the year, the recovery in the value of exports during the month, duo to increased shipments of primary products, has been reflected in other phases of economic activity.

The Abstract of Statistics for June shows that the net note circulation continues at a very high level, the average figure for May being £9,845,374. The monthly average figure for the last eight months has not fallen below £9.000,000, and for December, 1937, and April, 1938, it exceeded £10,000,000.

Banking statistics give evidence of the approach of the slack season of the year, although the later export season has affected the volume of both bank deposits and overseas funds. The net overseas funds of New Zealand banks at May 30 were £28,103,748, compared with £28.617,110 at the end of April and £37.440,880 at May 31, 1937.

An indication of tjio increased spending power of the people may bo gained from a study of the aggregato private incomes, states the Abstract. Aggregate salary and wage payments amounted to £98,600,000 in 1937-38, an increase of 15 per cent over the 193637 aggregate of £85,900,000. The falling off in seasonal employment has brought about a further increase in the number of registered unemployed males. The number of men on the registers of the employment division of the Labour Department on June 4, exclusive of 8000 men on sustenance but totally unfit for work, was 8721, an increase of 407 on the total a month before.

QUIET BUTTER MARKET FEELING OF OPTIMISM (Received July 17, 5.5 p.m.) LONDON, July 16 The butter market is rather featureless. it has been affected by the weakness of Continental butters, which are in heavy supply. However, there is definitely a feeling of optimism lor the future. As the Empire supplies decline there should bo a harder tendency. NEW ZEALAND APPLES STRONG LONDON DEMAND (Received July 17, 5.5 p.m.) LONDON, July .1(5 Apples are in strong demand. New Zealands, by the Maimoa, Empire Star and Arawa, sold as follows:—Stunners, 9s 6d to 21s Gd; Yates, lis 6d to 12s 9d; Granny Smiths, 12s to 15s. NEW COMPANIES REGISTRATIONS IN SOUTH Registration of the following new comrmnicH in the South is contained in the Mercantile Gazette:— PUBLIC Burr-Browns, Limited.—Builders (Wellington). Capital-: 015,000 inlo 45,000 shares of i'l each. Subscribers: Wellington—A. J. Burr-Brown, H. W. Owen. R. B. Harding, R. L. Meek, M. Webster, H. B. Gordon, G. C. Phillips, I sharo each.

PRIVATE Fullers Theatre Corporation, Limited.— Theatrical proprietors (Wellington). Capital: £.">1,000 into 12,000 ordinary shares of £1 each, 25,000 A preference shares of £'l each anil 13.'100 B preference shares of £1 each. Subscribers: Wellington—E. J. Righton, 11)011 B pref.; F. M. Righton, 1000 B pref.; Public Trustee, 7200 A prof. Syney—B. J. Fuller, 113,000 ortl., 14,100 A prof, and 7000 B pref. Christchurch—Beath anil Company, Limited. 2000 B pref.; E. E. Luttrell and 11. N. Wright (Timarii), >IOOO A pref. Laird Brothers, Limited. —Farming (Wellington. Capital: £3OOO into 3000 shares of .t'l each. Subscribers: Huntervillo—F. Luird, L. J. Laird, R. B. Laird, 1000 shares each. Marlborough Lime Company, Limited (Blenheim). —Capital: £2OOO in shares of t'l each. Subscribers: Ward—A. It. Wooding, P. W. Wooding, A. E. Wooding. Christchurch — S. W. Andrews, 500 shares each. Davidson and Hazolton, Limited.—Woolbrokers (Wellington). Capital: 2000 into 2000 shares of £1 each. Subscribers: Wellington—E. S. Davidson and E. L. Hazeltou, 1.000 shares each.