FINANCIAL OUTLOOK.
FEAR OF LABOUR TROUBLES AND HARASSING LEGISLATION CBy Telegraph-Special Correspondent.) Auckland, July 15. A prominnnt bank manager iii Auckland, interviewed regarding the Quarterly bank returns, said:—"The returns exactly reflect the position as it is in Auckland to-day, and the position is more exemplified here than it is elsewhere in ths Dominion. Deposits are going up, and advances are going down' and this to a large extent is accounted for in the fact that there is a general disinclination among moneyed people to invest their funds in individual enterprises." ~" H ° W i]° .vou account for tho disin-' donation?" asked the reporter "Firstly, through fear of labour troubles, and, secondly, through fear of further harassing legislation. As regards the action of the banks in seeking an outlet for tho surplus money in London, that is accounted for in that it is more profitable to employ the surplus funds there than to lend them out on long-dated loans in the Dominion as if ever the money is required it can easily be got. Besides, it is not a bad advertisement for tho country's credit when it has millions of money it is able to lend iii Loudon."
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Dominion, Volume 3, Issue 869, 16 July 1910, Page 5
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196FINANCIAL OUTLOOK. Dominion, Volume 3, Issue 869, 16 July 1910, Page 5
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