BRITISH TRADE RECOVERY

Taranaki Daily News, 27 April 1934, Page 7

BRITISH TRADE RECOVERY

RETAIL SALES ADVANCING REDUCTION IN UNEMPLOYED MOVEMENT GAINS IMPETUS APPRECIATION OF SHARES British Wireless. Rugby, April 25. The money value of retail t ade sales in March in Britain was higher by 5.7 per cent, than in March, 1932, the largest total advance recorded since the comparisons were first made in August, 1930, Every district showed an increase and the three main categories of goods rose by more than 10 per cent. each. Sales in the two month of February and March were 4.5 per cent, above those of the corresponding period in the previous trade year. Stocks at the end of March were 2.9 per cent, greater in value than a year earlier, and employment was 3.3 per cent, greater. It is expected that when the figures for April are published a further big decrease in the number of unemployed, unofficially estimated at approximately 10,000, will be recorded. Indications are daily increasing that the industries have not only turned the comer but are steadily gaining impetus after the long period of depression. The Budget considerably helped to stimulate progress. Company reports appearing every day almost without exception refer to improved trade, increased profits and better prospects. This state of affairs is reflected in the prices of industrial shares. Following are special examples, a contrast being provided by the prices last year and those now prevailing: Consols 2J per cent., last £75 4s, now £79 10s; Southern Railway preferred stock, last year £35, now £79; Dunlops, last year 21s, now 51s 6d; Courtaulds, last year 26s 9d, now 53s 6d; Standard Motors, last year 52s 6d, 69s 6d; Imperial Tobacco, last year 91s lOd, now 124 s 3d. Commodity prices also show general, and in some cases very remarkable, rises.