CANADA AND AMERICA

Otago Daily Times, Issue 21985, 21 June 1933, Page 7

CANADA AND AMERICA

BETTER BUSINESS TREND MARKET FOR NEW ZEALAND GOODS (Peb United Press Association.) WELLINGTON, June 20. An improvement in business conditions in Canada and America is indicated in a report which the Acting Minister of Industries and Commerce < (Mr J. G. Cobbe) has received from the New Zealand Trade and Tourist Commissioner in Canada. Mr J. W. Collins. The two countries are stated by Mr Collins to be in for a much better summer season than has been experienced during the last three years. “ There has undoubtedly been a distinct and definite upturn in both countries during recent weeks,” Mr Collins reports. “The unemployment-figures are dropping perceptibly each week, and reports indicate that the American public is buying goods more readily. The retail trade figures are rising throughout the country, and while dollar sales are still mostly below those of a year ago because of the lower prices the volume of retail sales is undoubtedly rising. The continued rise in commodity prices will undoubtedly soon create heavy buying by the public. Though unemployment and income taxation have certainly reduced the purchase of goods, it is no less certain that an enormous amount of purchasing power has been lying dormant during the last three years and that buying has been most guarded. Because of a feeling that prices have reach id bottom, if evidence of a business recovery continues, it will now be followed by an intense' wave of buying. “ I have noted with some satisfaction a new interest in buying from New Zealand. The purchase of hides is being well maintained and our casing purchases are keeping up well. Wool prices have improved and during the last few weeks there has been established in Montreal what I hope will be a growing trade in frozen beef, mutton and lamb. New Zealand onions and apples are at present on the market in ample supplies and are meeting with a receptive market. In particular, in regard to wool it would appear that Canada will buy in much larger quantities when next season opens as the woollen mills’ stocks are exceedingly low. - “ Generally, the outlook is full of uncertainty, but a change for , the better is in the air. Canada and the States are certainly in for a much better summer season than has been experienced during the last three years,”