FAILURES BECOMING FEWER

Evening Post, Volume CVIII, Issue 151, 23 December 1929, Page 12

FAILURES BECOMING FEWER

The Government Statistician in his review of the month of November, repprts that according to the debits to individual accounts (excluding Government accounts) in the banks of issue the national volume of business in November showed a gain of 4.9 per cent, on October, and was 10.0 per cent, above that for November, 1928. Butter-production for the present season continues on a level well above last season, but the output of cheese is below that recorded in 1928-29. The production of buttcrfat so fas for 1929-30 is higher than for the corresponding period in any previous season.

The wool-export trade shows a gain in quantity, but a substantial recession in value that is reflected in the total value of exports. Tho latest lambing estimates yield record figures that; indicate wide expansion in sheep-farm-ing.

While, broadly,speaking, all phrases of primary production appear to be well maintained, due cognizance must be taken of the fact that there have been recessions in the overseas prices for some of our principal products.

With the world price-level still tending downwards it would appear that further deflationary adjustments will require to be made in due course.

Marked activity continues to characterise commercial circles; bank advances continue to expand, while both branches of the mortagage business continue on levels well above last year. Internal trade, as indicated by the movement of freight on railways and coastal shipping, shows an expansion on 1928; commercial failures are becoming fewer.