BRITISH TRADE

Otago Daily Times, Issue 18750, 2 January 1923, Page 7

BRITISH TRADE

TURN OR THE TIDE. * ] A DISTINCT IMPROVEMENT. <■ : RISE IN VALUE OF SECURITIES.' * : Press Asaociation—By Telegraph—Copyright 1 . LONDON, December 30; i■. (Received Jan. 1, at 5.5 p.m.) Commenting on the better business nut- '/.■ look, Sir Mackay Edgar states Uv&ag already there is a distinct improvement 1H in every branch of trade compared with a last year. “I am satisfied,” he add,: I “that the turn of the tide has actually, * come.” Lord Leverhulme, in an article in Current Opinion, states: ‘‘To all of us ‘ en- / gaged in industry the recovery appears to : be slow and tedious, but if we com}>ara the position to-day with that of 12 mouths ago wo find that'tbe progress achieved is ■ really marvellous.” The year 1228 witnessed a remarkable rise in values of public securities. The Bankers’ Magazine gives a list of 'SB? representative securities, the capital valde ■ of which appreciated during the year, by' £712,000,0C<), or 13.2 per cent. The principal appreciations were in British railway ordinary stocks, which improved 0 54 per cent, and foreign railways 59 per cent. Colonirf Government stocks proved 16 per cent., and colonial corpora- "a tions 13 per cent. The total amount of v new money subscribed for public istaeo : in the United Kingdom in 1922 amounted j to £585,000.000, compared with <1 £393.000,000 in the previous year, £1,352,000,000 in 1918. which was a record year, and £248.000,000 in 1913. Of - ; the money subscribed in ' 1922 ever £459,000,000 was invested in Government and municipal stocks.—A. and N-Z< i Cable. _ REVENUE AND EXPENDITURE. ; - COMPARATIVE DECREASES.; '/ LONDON, December (Received Jan. 1, at 5.5 p.jn.). '■ The quarter’s British revenue amoiipifd,j to £181,669,000, Customs contribulipg i £32,549,000, excise £45,092,000, and rproperty and income tax £49,187,000. : ;>* 'j The decreases shown in special reetfipta / from sales were: War stores, £31,877,P00; i: excise, £12,373,000: and Customs, £2,608,000. ■ ‘j An increase of £14,584 was shown in the v property arid income tax receipts., •• „f The nine months’ revenue totals ■. £585,562,000—a decrease of £91,268,jM£ j * and the expenditure was £572,639,0(j5^ : -* decrease ox £167,356,000.—A. and .' Cable. . >.■