INDUSTRY IN BRITAIN.

Waikato Times, Volume 111, Issue 18537, 18 January 1932, Page 7

INDUSTRY IN BRITAIN.

An optimistic spirit.

i MARKETS “ALMOST CHEERFUL.”

DECLINE IN COMPANIES’ PROFITS

United Press Assn.—Elec. Tel. Copyright. (Received Jan. 18, 8.55 a.m.) ’ LONDON, Jan. 16.

There Is no doubt that the City has reoently become .definitely more optlrrilstlo, despite the lack of official encouragement and the even more threatening aspeot of European finances. The markets are almost cheerful.

Gilt-edgeds especially hardened, led by the War Loan, and Indians and Australians also advanced, notably, New South Wales issues. Dr. Bruening’s statement created an Initial hesitancy, which was later converted into renewed strength when It was realised that the bluntness was likely to do good Instead of harm. The Economist’s index, showing the net profits of 474 representative industrial undertakings for the last quarter of 1931, discloses a fall of £14,000,000, representing a decline of 54 per cent., the largest ever officially recorded. The previous lowest was 53 per cent, during the last quarter of 1921, representing the slump following the post-war boom. The average rate of ordinary dividends Is now 3.4 per cent., compared with 8.4 last year.

REDRESBINQ TRADE BALANCE.

IMPORT TARIFF PROBABLE.

United Press Assn.—Elec. Tel. Copyright.

(Received Jan. 18, 11.30 a.m.) LONDON, Jan. 17.

Several Sunday papers hint that th® Cabinet, including ex-freetraders, will reach a decision during the ooming week to Impose an immediate low general Import tariff, probably 10 .per cent., with the object of redressing the trade balance,