BRITISH INDUSTRY

New Zealand Herald, Volume LXXV, Issue 23165, 11 October 1938, Page 7

BRITISH INDUSTRY

UPWARD TREND SHOWN

INCREASED EMPLOYMENT TURKISH ORDER FOR SHIPS • ,-v [from ocb own correspond est] LONDON, Sept. 17 V British employment figures for the mbnth from July 15 to August 15 show an increase of ,31,000, compared with the preceding month, while unemployment figures have fallen by nearly 14.000. The greatest improvements were in coal mining, building, public works contracting, and the boot and shoe industrv.

If a comparison be made with May last,' thus eliminating any fortuitous appearance of improvement due to the return of workpeople from holidays, the returns are still better. In th# threemonths' period after May, unemployment normally increases 'by some 30.000 to 35,000. This year, however, it has actually fallen by nearly 20,000, while in the same period employment has increased by 27,000. These figures are the more encouraging becaUse improvement has hecn fairly spread through many industrial parens. Sheffield, the centre of the British steel industry, was one of the regions which suffered ■ most, from the world depression of 1920-1933; its present prosperity is instanced by the Sheffield Forge and Polling Mills, a representative concern. During the past four years, the earning capacity of thia firm has gradually improved, its dividends for the last three years averaging 15 per cent.

Shipbuilding prospects are also good, and the industry has recently received a stimulus from the decision of the Turkish Mercantile Marine Department to order eight new steamers front British shipyards. Among new British industrial developments , is a canning factory, which jn its second year of working has increased its trading profit by nearly £II,OOO to £66,500, and lnui been able to pay. a dividend of as much as 10 per cent. ,