PERIOD OF PROSPERITY.

Manawatu Standard, Volume LVII, Issue 207, 2 August 1937, Page 2

PERIOD OF PROSPERITY.

MINISTER’S CLAIM. Per Press Association. CHRISTCHURCH, Aug. 2. "Further Evidence of the brisk trading conditions is contained in the periodical reports from my district officers in the four centres,” said Hon. D. G Sullivan (Alinister of Industries and Commerce) in an interview to-day. “This activity is Dominion-wide and extends to practically every line,” said the Alinister. “The reports for the quarter indicate heavy trading, both wholesale and retail, and merchants report that trade has shown a distinct improvement on that of the corresponding quarter of last year. The reports prove beyond all doubt that the people of the Dominion are enjoying greater prosperity than they have done for many years past, and this is due in a very large degree to the Government’s policy of increasing the purchasing power of tlie people. “Despite melodramatic statements to the contrary, the position in which tmr manufacturing industries are placed today is immeasurably better than that in which they were two years ago, and steps are being taken by tlie Government to see what can be done to stiil further improve the position of those industries which we consider might be adversely affected by overseas competition.

“Speaking generally, staffs and production have increased appreciably and many industries are working to full capacity and are unable to supply orders on Hand. Aly district officer at Auckland informs me that six public companies in Auckland announced during the quarter the results of their trading for the past year. Every one of these companies showed decidedly increased net profits over the previous year. One well known firm, m fact, increased its net profit from £61,000 to £104,000. “This report is typical of those I am receiving from my other officers, and is definite proof that industry as a whole is enjoying a period of prosperity which has not been theirs for many years.”