TRADE OUTLOOK.

Dominion, Volume 6, Issue 1743, 7 May 1913, Page 8

TRADE OUTLOOK.

AUCKLAND VIEWS. PROSPEROUS DAYS AHEAD. (By Teleeraph.—Special Correspondent.) ' Auckland, May 6. The announcement made by the Prime Minister (the lion. \V. F. Massey) regarding the improved outlook for ttte Dominion financially and the sound condition of trade generally, was received with great satisfaction in commercial circles. A. reporter who mado exhaustive inquiries amount merchants was met with the gratifying statement everywhere that the leading industries of Auckland, and, indeed, of the whol.e of tho Dominion, were in a very satisfactory condition, and that thrj outlook was very bright. One of the most important factors which have brought the surety of a happy future is the high price of every kind of produce. Kau.ri gum prices, lor instance, arc on a high level, accounted for partly no doubt by tho dry season, which has btcii favourable to the diggers. Prices for flax at o good, although at tho moment tliero is a slight lull in the market, but this may bo expr-cted to brighten as the bigger supplies reach Home, and a greater demand, which is always created ,in the spring on the English markets, ensues. Neither has the farmer anything to complain of in the price of wool. All sorts uro high just now, and there is the prospect of their remaining so for some timo to come. The satisfactory continuation of work in tho Waihi mines has put a more hopeful aspect on the gold returns altogether. Then the outlook for tho northern part of New Zealand is a happy one, and a prosperous condition of affairs is to bo looked for. All that is wanted is a few' <lay.s' warm weather before the winter actually sets in so that the grass will bo suitable for winter feeu. Mr. S. J. Nathan, president of the Auckland Chamber of Commerce, when seen on the subject, declared that the outlook was very encouraging indeed. "The present condition of trade is indeed a signof the times," ho said. There were a number of reasons which had acted for the present prosperity. Mr. Nathan continued. In his opinion, people had been more careful iu their imports, and, credit being to a certain extent restricted, tradesmen had l>een meeting their engagements better. "They have been working on smaller stocks and with the merchants restricting their terms of credit they have been a,ble to pay as they went," Mr. Nathan went on. "I should say without hesitation that 1 everything is in much better shape commercially than a few mouths ago." Regarding the future, Mr. Nathan continued: "One of the most important factors which will lead to further prosperity will be the adoption by the American Government of the free wool tariff, which as announced in the papers to-day has passed the House of Representatives. This is bound to harden the price of wool both in Australia and New Zealand, as there will be a great deal nioro competition. Naturally, this will be reflected on general, trade. Another favourable featuro is tho cessation of tho Balkan war; this will have a good effect- on the money market, although I expect money will be dear for some time to come. The action of the banks in restricting advances for speculative' purposes has had a most beneficial effect. It has restricted land speculation, which a few mSnths ago was very prevalent. Numbers of estates were being cut up for speculation, and the buyers of the sections in turn became speculators. In that way wo were going abead too fast, and the estates were not being absorbed in a safo way." Koferring to • Mr. • Massey's statement, Mr. Nathan said that it had been received with gratification by business people generally, and it' would create a much easier fceliug. It was very pleasing to know that the finance of the country was going ahead satisfactorily. For, above all things, it was necessary favourably. to impress the, commercial world at Homo.:'