CO129-581-16 British propaganda in Hong Kong 18-4-1939 - 29-10-1939 — Page 40

2

o

Steel and Coal.

British industrial expansion during the past months has been both widespread and continuous. The steel position has a special

ignificance as a key industry reflecting the conditions obtaining in a vast number of other trades, whose production depends on steel. In July the British steel output reached the highest total ever recorded for a July month. At 1,153,100 tons it exceeded the

-

by 94,000 tons, previous highest July figure that for July, 1937 while it was nearly 500,000 tons above the total for July, 1938. Experts are confident that the industry is capable of maintaining

This an annual production of 14,000,000 tons without any strain. estimate makes ample allowance for normal stoppages, even including unforeseen contingencies, and is still well within the annual rate of 14,700,000 tons, which is taken as the normal annual capacity of at the British steel industry. Ordinary commercial demands absorb

least half the present output.

Coal is another key industry in which production is steadily increasing. The output from British mines in the last week of July, for instance, rose by 285,600 tons compared with the previous week, and by 256,000 tons compared with the last week of July, 1958. Both wages and prices at pit-head have consistently improved since

Thus (neglecting the centralisation of sales in August, 1936.

fractions) wages per ton at pit-head have risen from Es. 6d. in 1935-56 to 10s. 6d. to-day, while pit proceeds-prices have increased from 13s. 6d. to 17. 9d. per ton, and the general financial position of the industry is incomparably better than it was four years ago.

Page 40Page 41