The Colony's Position.

Feilding Star, Volume XVI, Issue 281, 1 June 1895, Page 2

The Colony's Position.

(Per Press Association). Christchuech, May 31. At the quarterly meeting of the Canterbury Chamber of Commerce to-day the President in his address, eaid it was satisfactory to notice that although showing no signs of expansion, trade still continues in a sound condition, money was plentiful and cheap, so far as for investment on mortgages was concerned, bnt the reverse is the case as regards money for trading purposes, the stringency «sercis ed by the banks for some time past has gradually been increasing until at the present moment, the pressure in this respeot having marked the effect upon business generally. It speaks volumes for the soundness of trades generally that hitherto they have been so well able to stand the etrain of this severe financial contraction. Turning to the public finance, the coloiay is to be congratulated on the great success attending the recent floating of the three per cent, loan of .£1,500,000. A great part of this success no doubt is due to the able Colonial Treasurer, whose presence in London not only favorably affected the floating of the loan, but no doubt helped to increase the confidence of Homo creditors shown in the colony for some time past. It was pleasing to note from the cables of the last few days that the hope of an upward j turn in prices in frozen meat was in a fair way of being realised- Viewing the many influences at work effecting wool he could not help coming to the conclusion that a substantial and permanent improvement in this, our greatest staple, was at hand. Tallow also seems waking up from its long continued depression. It was refreshing to be able to notice one decidedly bright spot in the commercial horizon in the great advance in the price of wheat. He mentioned that the committee would endeavour to have a law passed that the assignment of book debts would not be legal unless registered.