BRITISH TRADE

Wanganui Chronicle, Volume 77, Issue 209, 4 September 1934, Page 9

BRITISH TRADE

COMMERCIAL SUMMARY SIGNS OF RECOVERY MUCH SHir-BUILDING WORK LONDON, Sept- 1. The commeren 1 summary states that the weakness oi sterling had practically no eifect ci. the Stock Exchange, and in most departments prices were maintained with a good volume of business. Giltedgeds have shown consideiable strength, and other sound investment stocks are firm. German bonds naturally weakened as the result of Dr. Schacht’s proposal to extend the moratorium. There has ben considerable activity in goldmining shares, but the rapid advance in the price of gold has not had the effect which might have been expected. On the contiary, nothing happened yesterday when the record price was announced, most dealers adopting a wait-and-see policy. The past mouth has been an unusual one in the new capital market. A-s the Daily Telegraph points out, August in the ordinary course of the leanest month in the year for new isues, but on this occasion it has been for tire holiday period quite noteworthy for activity, which augurs well for the coming season. Among the gratifying indications of improving trade is the increasing activity in ship-building on the Clyde. According to the Financial News, the new shipping tonnage launched on the Clyde in August is the best on record for the past four years. With four months still to go, the 1934 output has already exceeded the production of the whole of 1933. To date 36 vessels of 67,786 tons have been launched this year, compared with the 1933 aggregate of 55,869 tons. It is more than likely that the improvement will be continued for a tune. There are a good number of mercantile naval ships at present on stocks, due to be launched in the course of the next few months, in addition to the new Cunarder, which will enter th* water on September 26. When the tonnage of the Cunarder is added, the aggregate output for the year will materially exceed the 140,000-ton mark, exceeding any year since 1930, when 246 vessels of a total of 529,744 tons were launched.