A BRITISH YEAR

Manawatu Standard, Volume LIII, Issue 25, 27 December 1932, Page 7

A BRITISH YEAR

FORECAST FOR 1933. CHEERFUL TRADE OUTLOOK. INVESTORS TAKING INTEREST. (United Press Association—By Electric Telegraph.—Copyright.) Received December 27, 8.5 a.m. LONDON, Dec. 24. The Stock Exchange closed for the holidays in a cheerful frame of mind. Firmness was apparent practically in all departments, the only weakness being foreign rails, fair business passing in gilt-edged securities at higher prices. Australian and New Zealand issues were noticeably firmer, New South Wales having benefited by Mr Stevens’s optimistic account of that State, which was duly given prominence in the newspapers. A satisfactory feature is the improved demand for many industrial shares, in which genuine investors are beginning to take interest again. The Evening Standard’s city editor takes a cheering view of the prospects for 1933. He says: “It will be a good year for Britain if only we keep our goal—recovery—in view. “The British sky is less cloudy than it has been for three years past, the markets ending 1932 with more business, better prices and a great deal more hopefulness. 1933 will be a British year both domestic and foreign. Attention is going to be concentrated on our progress. “Rich clients wire were wondering early in the year whether to hold dollars, francs' or gold as the safest hoard recently have been buying gilt-edged British equities. They see a certain recovery, though it may not yet bo here.” The Standard continues: “The Continent knows Britain is overcoming her difficulties; tho Germans envy us and the Frenchmen want to co-operate with us. Only one thing can stop a revival, namely, a stupid monetary policy aiming at a rush back to gold.” A gratifying result of the imposition of tariffs is that British manufacturers have been able to capture a greater part of the toy trade which formerly was almost a German monopoly. According to the Evening Standard, _ a British firm succeeded in making China-headed dolls, which formerly it was believed only Germany could produce, a factory near London turning out nearly three thousand dolls weekly at an average trade price of four shillings each.