TRADE ON UP-GRADE

New Zealand Herald, Volume LXXV, Issue 23202, 23 November 1938, Page 9

TRADE ON UP-GRADE

TRENDS IN BRITAIN ■ « HEAVY INDUSTRIES ACTIVE •'CLAMBERING FROM DEPTHS" Many branches of trade and industry in Britain are far less busy thai they were at this time Inst year, bul there are numerous indications' of re covery. The Financial Times exprcssec tho view at the end of Inst month thai industrial improvement will be grcatei in proportion to tho success of th< Prime Minister's appeasement plan. So far ns share movements anticipate industrial trends, emphasis naturally has been laid recently on those com panics connected with rearmament The process of speeding up productioi will stimulate a very wide range of air craft and general engineering com panies. Other groups will bo brought in a; suppliers of non-metallic component! both for armament and for air-raid pro cautions. The iron and steel industriei of necessity will experience an in crease in , demand, of which signs an already visible. Improvement in tho coal industry ir proportion to recovery elsewhere ii practically a foregone conclusion, foi coal is the ultimate source of th( greater, part of the power generated ir this country. It is not without significauee that tho output of 4,75(j,000 ton: for the week to October 15 is th( largest since last April, and onlj 110,000 tons below the figure for the corresponding week last year. Cotton is beginning, to shake olf the effects of the crisis. Rayon stocks arc at a lovel foreshadowing better buying between now and Christmas, and it if noteworthy that in September rayoi: yarn consumption slightly exceeded production lor the first time this year. "Whether in tho homo or export trade, it is early yet to say that we have commenced a steady climb, bill tho instances cited do not suggest thai a halt is in sight," states the Financial limes. "The business index, recovered to its July level after allowing for seasonal variations, confirms the indications that we have clambered out oi the depths." UNITED STATES ACTIVITY HIGHER STEEL OUTPUT Steel production .in tho United States —usually a reliable economic barometei —is at a new high point for the year. The American Iron and Steel Institute estimated that steel plants would be operating at 62$ per cent of capacity in mid-iSovember, as compared with 61 per cent, and 561 per cent in tho twe previous weeks, and as low as 19.3 pei cent last December. The continuous increase in tho steel index in recent months is confirmed bv other trade reports received from the United States. Tho United State. s Federal Reserve Board's estimate oi industrial production advanced by 8 pei cent last month, while the New York Times business index has further advanced from 87.7 to 89. The Dow Jo net Index also reached a now high level foi tho year in the middle of this month. GOLD AND SILVER QUOTATIONS IN LONDON LONDON, Nov. 21 Fine gold is quoted to-day at £7 7s an oz., compared with £7 7s lid on Saturday. Silver is t|uoted at 20 l-16d an oz, spot and 19£ d forward, compared witL 19 15-16 d and 19 9-16 d on Saturday. The quotation for silver at per fine oz. is 21£ d, compared with 21 7-16 d on Friday. The following is a summary of the fluctuations in the price an ounce oi tine gold this year:— ,£ a d Highest price, November 15 7 8 3 Lowest price, January 3 .. Gl9 5 November 14 .. .. .. 7 0 8 November lf> .. .. 7 8 3 November 10 .. .. .. 7 8 1 November 17 .. .. .. 7 7 IOVi November 18 .. .. ..777 November 19 .. .. .. 7 7 11 a : PRICES OF METALS TIN AND COPPER EASIER LONDON, Nov. 21 Following are to-day's quotations on the London metal market, • compared with those of November 18: Nov. 21 Nov. is Per Ton Per Ton _,£s d £ a d Copper, stan., spot 41 4 4V a 44 8 IV Copper, stan. 3 mos. 44 8 1% 44 11 10/' Copper, electrolytic 49 15 0 50 5 0 ' to to 50 15 0 51 5 0 Copper, elect., wire bars .. .. 50 15 0 51 5 0 Lead, soft spot . 15 18 1% 1G 3 IV, Lead, soft, forward 1G 13 1G 5 IV Spelter, spot .. 14 1 10V, 14 4 4% Spotter, forward . 14 4 4Ya 14 8 1% Tin, stan., spot . 213 17 G 214 5 0 Tin stan., 3 mos. 214 12 6 215 2 6 DEMAND FOR MANGANESE MARKET IN GERMANY More details are now available as to tho effect on manganese of the signing of the South African payments agreement with Germany. For some time past Russia has been a thorn in the side of the South African producers. She has offered manganese to dull markets at cut prices, and» thus the world price has been reduced, limiting for the time being the profit a ton. Now Germany looks like becoming a purchaser of the considerable quantity of 120,000 to 140,000 tons of manganese from the Union, and it is believed that the Associated Manganese and South African Manganese companies will benefit substantially. Agents of the Union's producers aro working in Germany and on the Continent in connection with the completion of probable orders.. They will enable the manganese producers, some of which slowed down production somewhat just beforo the signing of tl'ic new payments pact, to increase their staffs to the much larger dimensions now likely to bo required to produce on a record scale. Orders fj-om various parts of the world have recently increased; the United States has been making more inquiries, a far-llung tribute to American trade and industrial revival. Tho outlook indeed now looks particularly hopeful. NEW COMPANIES Tho following private companies have been registered in Auckland:— Adams and Footo, Limited, dealers, distributors and repairers of motor vehicles and engineers. Capital, X'SO(H), in shares of £1 each. Subscribers: J. E. Adams and E. C. I'oote, 2500 shares each. The Best Burner, Limited, to manufacture and market a weed-destroying instrument. Capital, £3000; in shares of ill each. Subscribers: It. Eder, 13. J. August and A. A. Best, NOO shares each; W. H. Crabb, 300: r. Burden. 200; W. P. Walker, J 00. A. Buckingham (N.Z.), Limited, dealers find distributors of specialty goods cutlery and chinaware. Capital, £2500, in shares of £1 each. Subscribers: C. O. M. Dunsford, 2499 shares; ,T. A. Albrecht, 1. INCREASE IN CAPITAL The following capital increases by Southern companies are published in the Mercantile 3azette:— Overseas Advertisers, Limited, Aucklandcapital increased-by addition £SOOO beyond registered capital of £,">000. Kirkpatrick (S.) and Company, Limited, Nelson; capital increased from £'Bo,ooo to £'120,000 by addition of 40,000 shares of CI each. Rangatira Proprietary, Limited, Welling;on: capital increased from £IOO,OOO to cBOO.OOO b,v the addtiion of £301,000 bevoml he registered capital of £-100,000, ' and 'nrtlier Increased' by addtiion of £,V,O 000 jeyond the registered capital of £SOO.OOO ;total £1,330,000 J.