INDUSTRY IN BRITAIN

Poverty Bay Herald, Volume LXV, Issue 19804, 5 December 1938, Page 7

INDUSTRY IN BRITAIN

TRADE DRIVE WELCOMED STOCK MARKETS DULL FRENCH CAPITAG RETURNS (Elec. Tel. Copyright— United Press Assn.) (Reed. Dec. 3, 2.15 p.m.) LONDON, Dec. 2. The City welcomed the announcement of Mr. R. S. Hudson, the Parliamentary Secretary to the Department of Oversea Trade, that British industry would be organised, il necessary, to fight German trade methods, not only in south-eastern Europe, but in the markets throughout the world, particularly as it followed hints that rearmament finance will eschew increased taxation in favour ot loans, thus indicating the Governments anxiety to maintain the civil production and export trade.

However, financial commentatois doubt whether the purely internal efforts of the export industries will be sufficient in view ol’ the German State backing the export drive with resources superior to the British cartel funds.

While the sterling improvement is welcomed, the attention of the money market is focussed on the repatriation of French capital, which may exceed £10,000,000, the bulk of which involved conversion from sterling.

Stock Exchange business dwindles, although selling is rarely on a scale seriously to affect prices. Gift-edged securities recovered. New Zealand and Australian stocks dried up in the middle of the week, but prices have not recovered.