COMMERCIAL "CAUTION" NECESSARY.
Interviewed by a reporter yesterday morning, a leading financier of Christchurch said that, naturally, the effect of the war and financial panics of Europe would be to promote caution in all commercial circles in the Dominion. New Zealand, however, was m an extremely fortunate position, as all the banks "had strong holdings of cash reserves. They would, naturally, follow a conservative policy in connexion with all business, but there was no reason for any apprehension as to any disturbance of the ordinary business of the country. Caution, of course, would be the keynote all round, but till it was seen whether Britain was involved or not, no definite prediction of results could be made. With the restriction of the flow of capital, there would be a tendency to promote unemployment. . ' . The share market at present is quiet, but .a few, speculators are evidently prepared to operate, as buyers were offering for Waihis, Grand Junctions, and Westport Coal. Buyers were offering 27s 3d for Waihi's yesterday, but sellers asked 28s 9d.
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Press, Volume L, Issue 15037, 4 August 1914, Page 11
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173COMMERCIAL "CAUTION" NECESSARY. Press, Volume L, Issue 15037, 4 August 1914, Page 11
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