Advances in Wholesale Prices and Living Costs in June: Building Industry Active For the month of June index numbers, both of wholesale prices and for cost of living continued to show advances, the slight drop in metal prices during the past two months being more than offset by the increases shown by red ten, sugar, beet and mutton, cotton, cotton yarn, silk, ete.
'The general index for wholesale: prices for the month stood at 120.1, showing an advance of 0.8 per cent. as compared with May, when the, index stood at 125.1, and an advance of 189 per cent, as compared with' June last year, when the index stood at 106.
The June index number for wholesale prices showed a drop of only per cent. as against the highest mark of 1303 reached in the predepression period in August, 1931, and an advance of fully 39 per cent, as against the lowest "record of 905, registered in July, 1931, when the depression was at its worst. This shows that in recent months commodity prices have been restored to predepression levels, The cost of living index number for June stood at 119.0, showing a slight advance of 03 per cent, as compared with that of May, which was 18.7, prices for food showing slight decreases, while those for clothing registered sharp advance and an advance of 64 per cent. as compared with the same month last year, when the gute stood at 111.8.
The average price of cotton yarn dropped during July from $281.66 for June to $25429, which is not surprising considering the turbulent conditions on the Cotton Exchange, following the investigations into re cent speculative activities, More activity was shown in the building industry, since the value of building permits ' awarded advanced substantially during the month of June, particularly as revealed by the SIN. figures. The value of permits awarded in the Settlement amounted to $4,564,700, making the January—June total $4,126,430, against $5,630,890 for the corresponding period ast year: a permit for the erection of a {factory contributed to the increase in the June figure. Building activity in the French Concession and the City Government of Greater Shanghai in June also increased over that of the corresponding period last year.
Production of rolled tobacco, flour, jand cement decreased considerably! the output of matches remained practically stationary; while the manufacture of cotton yarn expanded.
One of the best indications of the progress of general business in recent months is the considerable gain registered in goods transported. This was particularly pronounced in the ]May loadings of the Nanking-Shanghai Railway, which showed a gain of }22% per cent. over April. Goods transported by the Shanghai-Hang~ chow-Ningpo Railway decreased slightly, but passenger traffic injereased in May as compared with previous, month; while on the Naning-Shanghai Railway passenger trafic was less during the month.
The pronounced show of strength that had characterized the Chinese Government Bond Market was halted, owing to the unsettling influence of war Preparations in the North. A fair "amount of business was transacted on the Shanghai Stock Exchange, the turnover in June sur-[passing that of the previous month.
There was a slight drop in the amount of banknotes while the volume of Joint Reserve Board jelearings and collections reached a new high during June.
Foreign trade in June, imports as [well as exports, registered moderate gains, though the excess of imports over' exports amounted to CGU. 9,009,002, as against C.G.U. 5,386,518 for JJune last year: the January—June fexeess being C.G.U. 49,925,077, against C.G.U. 45,442,993 for the cor~ responding period last year. On the import side there were increases in metals and ores supplied mainly by America, Germany and Belgium. Exports were particularly swelled by huge purchases of tungsten by France, fand there was also an increase in the export of animal products, and bristle, mainly to Germany, Great Britain and the United States.
Text read from the printed page and cleaned; old type leaves the occasional error.