Ogden Standard-Examiner | 1921-02-27 | Page 23 | British Business Emerging from Depression

IRITISH BUSINESS EMERGING FROM DEPRESSION I TRADE OUTLOOK I FOUND ICR I BRIGHTER I British Industrial Leaders Expect Rebound Will Restore Re-store Prosperity i LONDON, Feb. 26. (By The As-sedated As-sedated Press i Many Rritlsh bankers! bank-ers! nn.l industrial leaders say they he-llevo he-llevo the worst r.f the recent trade de-presslori de-presslori In this country has been reached and that the outlook ls brighter. At the annual meeting of the Bank of Liverpool and Martins hank, tho chairman, Edward Paul, while admitting admit-ting the extent and severity of the exslsilng trade depression, did not despair of the power of Great Brit-aln Brit-aln to emerge at no distant date from thc difficulties through which It ls passing. FOOD PRICES DECLINE Me said there were somo reasur-Ing reasur-Ing features and a good deal of sound business was being done In various dl- Tho coat of food was coming down gradually and the fall In prices in many commodities, while It caused serious loss to many Individual trad-: trad-: era, was a relief to other sections of nation. He pointed to the rise In tho Amer-j Amer-j lean exchange ft:i a favorable factor JJH and said, while thero had been a few failures, the fact that there had been no general castaslrophe was a great tribute to thc economic stability of Ihe country. Frank H Houlder. chairman of the Houlder Shipping line, presiding at I tho annual meeting of thc line said' ! ' My hope and belief a that the pre?-ent pre?-ent depression has been overdone and that we may look for some little re-bound re-bound which will enable business to i be resumed and developed, with a moderate margin of profit. At the ..moment however, there Is no gain- aH I saying the fact that the outlook is very unpromising." WORS1 STORMS PASSED Lord Colwyn. presiding at tho an-nual an-nual meeting of ihe Lancashire and forkahire bank said, from a trade standpoint, 1921 had opened ln de-I de-I pre-ston, but he could seo no reason j to be unduly despondent about the fu-lujre fu-lujre l,ancruhlro had weathered worse storm in the past. Sir Herbert Austin, of the Austin Motor company, said there was a .l ain amount of depression ln tho motor trade, und throughout the country at present, but he was ccr-tain ccr-tain that the majority of firm3 in the trade were selling more cars today than they did In the same time of the year previous to the war. PREDK rs id FRY believe." he continued, "we have come to the bottom of the depression ir.d that we are going to see a re-co re-co very in our particular trade and in many other trad 3 of the country-" H Iixon, presiding at the annual me ting of James Tattersall A Sons. cotton manufacturers, said Germany must bo got moving again before there could be onv real steady trade. Given (hat, with the excess profit tax out of the wav. and the bank rate reduced, he thought there would b ' a very prosoerous trade. F J. Blackmore. president of the j National Chamber of Trade, said: "I 1 an promise tha country that food ' i,ri.'..o i n. ornlnir tn 'nil miirh lower BBSS t wmi they are at the present time. The md- figure at the ministry of labor is now- 1 1 points down from the high- est point it reached. I forecast that during 1921 the present dark clouds 1 of unemployment will. rapidly pass :iw.. and that when this year has 1 paaaed Into history' we shall unanl- mously agree that it has been one of the best y.-ars th:s country has ever experienced."