IMPROVED TRADE

Timaru Herald, Volume CXLVI, Issue 21325, 20 April 1939, Page 5

IMPROVED TRADE

ANGLO-AMERICAN BUSINESS INCREASES British Official Wireless (Received April 19, 5.5 p.m.) RUGBY. April 18. The President of the Board of Trade Mi- Oliver Stanley) told the House of Commons that while it was still too early to draw definite conclusions regarding the effects of the AngloAmerican trade agreement, there were already signs of considerable expansion of United Kingdom exports to the United States. The increase in the first two months of this year, as compared with the same period in 1938, exceeded £1.000,009. TRADE WITH RUMANIA ECONOMIC MISSION APPOINTED British Official Wireless (Received April 19. 5.5 p.m.) RUGBY. April 18. Arrangements have been made for a British mission, headed by Sir Leith Ross, to arrive in Rumania on Monday. Sir Leith Ross will be accompanied by officials of the Board of Trade. Export Credit Guarantee Department. Treasury, the Anglo-Rumanian Clearing Office, and the Department of Overseas Trade. BARTER SCHEME DISCUSSED NOT FAVOURED IN BRITAIN British Official Wireless (Received April 19. 5.5 p m.) RUGBY, April 18. The President of the Board of Trade (Mr Oliver Stanley), in a reply to a suggestion for the introduction of the barter or compensation system in Anglo-Argentine trade, informed the House of Commons that he did not consider such a scheme necessary or desirable. Mr Stanley recalled that unde, the existing trade agreement, the Argentine Government made available sterling exchange for the purpose of remittances to the United Kingdom up to the value of the Argentine exports to Britain.

SUBSTANTIAL FALL IN EXPORTS BRITISH TRADE IN MARCH British Official Wireless RUGBY, April 17. Tire United Kingdom exports in March were valued at £41,634,577, compared with £42,155,373 a year ago. Imports amounted to £77,976,374 against £84,853,649, and re-exports £4,923,288 against £5,468,269. The figures for the first quarter of the year were: Imports £218,543,318, a decrease of £26,741,727 in the same period last year, and of £11,399,275 in the same period in 1937. Exports were valued at £119,129,085, a decrease of £1,740,854 on last year, and of £1,991,531 on 1937. Tire reexports totalled £18,224,658, a decrease of £1,507,834 on last year, and of £4,468,177 on 1937. The fall of £1,740,854 in the value of exports for the first quarter, compared with the same period last year, was entirely accounted for by manufacturer goods, for which there was a decline of £2,313,741. This was offset by an increase in food, drink and tobacco. The largest single item of the decreases was iron, steel and the manufactures thereof, £2,959,674, and next came cotton yarn and manufactures, showing a decrease of £1,585,373. Coal showed a fall of £409,708, although there was an increase of £959,876 compared with 1937. Among the manufactured goods showing an increase was vehicles, including locomotives, ships and aircraft —a rise of £2,941,447 against the first three months of 1938.

SEEKING NEW MARKETS BRITAIN’S GESTURE TO FINLAND British Official Wireless RUGBY, April 17. A Trade Delegation from Finland arrived in London to-day for a stay of about a fortnight. Members will have discussions with British industrialists and pay visits to many big industrial centres and provinces. Speaking at a luncheon of welcome tendered by the Anglo-Finnish section of the London Chamber of Commerce. Mr R. D. Hudson (Parliamentary Secretary for Overseas Trade) referred to his recent visit to Finland. The welcome he received there he took to be a token of the very friendly feelings which the Finnish people entertained for the United Kingdom. The British Government would follow the talks with the closest attention.