BRITAIN’S RECOVERY

Timaru Herald, Volume CXLIII, Issue 20638, 29 January 1937, Page 9

BRITAIN’S RECOVERY

OBSERVATIONS OF BANKING AUTHORITIES British Official Wireless (Received January 28, 7.30 p.m.) RUGBY, January 27. The annual meetings of shareholders in the leading banks, held at this time of the year, provide opportunity for leading bankers to review the current trend of finance and commerce. So far there seems general agreement among them that the present domestic trade revival has come to stay, and is indeed likely to make further progress. This view is shared also by the chairman of the Midland Bank (Mr Reginald McKenna). Apart from international politics, Mr McKenna had no difficulty in discovering many causes for anticipating a continuation of trade activity, unhampered by any restrictions in the shape of high money rates. Signs of Prosperity The money value of the retail trade sales, reported for December, was 5 per cent, higher in 1936, than in 1935. All districts shared in the advances. Sales of food and perishables were 7.2 per cent, greater, while those of other characters rose by 4.9 per cent. For the 11 months February to December, 1936, an increase of 6.2 per cent, is shown in the total sales as compared with the corresponding period of 1935.