THE CAPE AND INDIA
INCREASED TRADE FORECASTED
Prospects in the Capetown engineering industry are very unsatisfactory, while motor works also complain of a decline in the number of orders re-
ceived. The leather trade in all branches is experiencing bad times, especially boot manufacturers, who state that it is almost impossible to compete with overseas firms. Boots of all grades are imported every month in large quantities. The number of persons applying at the Labour Bureau increased by 549 in August, the total being 1446, in spite of the number put on relief works and, railway construction. From every industry of any importance there are unsatisfactory reports. At the same time imports and exports continue to be above the corresponding figures for 1923 as far as general cargo is concerned. A splendid wheat crop is expected in the Western Province and wool and fruit farmers expect an excellent season.
There will, undoubtedly, be stringency in buying at Johannesburg until conditions become more stabilised, which is not likely to happen before the question is decided one way or the other. Platinum prospectors have met with renewed luck in the northern Transvaal, where some remarkable finds of asbestos are also being exploited. Local engineering shops are slowly returning to a more satisfactory position, but there is still plenty of room for improvement. The prospects of standing crops in India have been vastly improved by abundant and timely rainfalls. Business houses in Bombay are hopeful of a general improvement in import trade. The balance of trade during August was*B3 lakhs of rupees against India, as compared with 3.20 lakhs of rupees in favour of India in July. A resolution has been passed by the Bengal Provincial Congress Committee, urging the boycott of foreign manufactured cloth. Dealers in Bombay do not believe that the boycott will be successful. Stocks in the upcountry bazaars being very low, purchases will have to be made before very long.
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Bibliographic details
Waipa Post, Volume XXIV, Issue 1578, 25 November 1924, Page 7
Word Count
321THE CAPE AND INDIA Waipa Post, Volume XXIV, Issue 1578, 25 November 1924, Page 7
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