BUSINESS BRISK

Taranaki Daily News, 15 October 1934, Page 5

BUSINESS BRISK

BRITAIN’S EVEN TENOR EUROPEAN CRISIS PAST BEST OCTOBER IN YEARS NEW PROSPERITY SIGNS VISITORS SPEND MONEY By Telegraph—Press Assn. —Copyright. Rec. 6.30 p.m. London, Oct. 13. It might have been expected that the tragedies at Marseilles last Tuesday, and the possible European complications arising therefrom, would have had a seriously disturbing effect on the London Stock Exchange and caused a general decline in prices, but this did not happen, and except for some defensive lowering and widening of quotations all markets pursued the even tenor of their way, and most prices regained the old level next day. A striking illustration of this was the underlying soundness of the markets. Business in gilt-edged securities has not been particularly active, though it is reported that some big banks and financial institutions are buying on a fairly large scale, chiefly stocks with a definite redemption date. After a period of quietude industrials have shown some activity in the last few days, particularly the metal groups, following good trade reports. London shopkeepers report that business generally is brisk. They say this is the best October since the boom year, 1926. Large numbers of Dominion and foreign visitors, here are spending money freely. Apparently the amount of “imported” wealth now in London is greater than at any time in the past few years. Investigations by the Daily Telegraph provide the following indications of prosperity: Hotels report 20 to 30 per cent, increases in business over 1933. Many theatres this week are turning away hundreds of people and are booked up weeks ahead. Garages with a capacity of 100 cars have had to display “house full’ notices in the evenings. West End shops report an average increase of 25 per cent, in the number of customers.