TRADE REVIVAL

Wanganui Chronicle, Volume 74, Issue 228, 26 September 1931, Page 7

TRADE REVIVAL

MORE LABOUR EMPLOYED COTTON AND STEEL WORKS. [By Telegraph—Press Association—Copyright] LONDON, Sept. 24. To-day’s sales of cotton at Liverpool totalled 45,000 bales, a record for 40 years.

The Lancashire Cotton Corporation has decided to reopen four large mills employing 1500 people.

Owing to orders received during the past few days, the steel works at Bai row’, employing 1400 people, will reopen on Monday. OPTIMISM OVERDONE WARNING TO INVESTORS. LONDON, Sept. 24. The Morning Post City editor says that making all allowances for the rise in metals and some commodities reflecting hopes of an improvement in trade, the present condition of the stock markets cannot bo described as satisfactory. The resumption of unrestricted dealings has led to a severe slump in investment stocks, which is bound to disturb the investor. Yesterday’s fall in sterling was the most severe this week. While the boom in many .adustrials and goldmines is stimulating speculation, it is regrettable to see high-class investments sold in order to use the money for speculative ones. The Daily Herald gives warning that if sterling falls dver-quickly there must be a sharp rise in the cost of living. There is a danger of that just as there was in the exaggeration of the danger of going off the gold standard. Optimism regarding its beneficial effects on industry is being overdone.