Industry and trade have been stimulated by the improved seasonal conditions and by the spring sporting carnival, which, as usual, brought a host of visitors to Melbourne. Employment has widened further, and official reports show that the number of registered unemployed has fallen by 4,000 during the year, making it 26,000 at the middle of October. Building operations show no recession, the value of permits granted in Melbourne and suburbs during September being £638,130, or £23,834 more than for September last year. Registrations of new motor vehicles indicate buoyant sales figures. Practically all branches of the machinery trade are busy, and makers of agricultural implements, factory equipment, building sundries: mining machinery, etc, report full operation at prices showing fair profit margins.
Country distributing trade has improved considerably and storekeepers are looking forward to a much increased buying demand as the season progresses, Wholesalers report large orders for delivery during December Despite these facts the Stock Exchange responds to London and New York influences and quotations, exception those for Government Stock and bonds, are somewhat depressed. The supply of cheap money appears to favour the Conversion of local loans amounting to about £70,000900 next year.
Text read from the printed page and cleaned; old type leaves the occasional error.