The Trade Outlook.

Hokitika Guardian, 5 January 1923, Page 3

The Trade Outlook.

.WELLINGTON. Jan .3. In the course of an interview tins (telling mi trade and financial prospects for the New Year, reference was mad by Sir Harold Heauelia-inp to a cabled .statement from the “Banker's Magazine” that the year 1922 witness--d a remarkable rise in the values of public securities at Home. “That i- the case” said Sir Harold Beauchamp. ** t hero lias been an enormous appiveiation in all gill-edged securities. but that is only natural in vinw of the lull in the rate ol interest. -Vs the rate of interest falls, the value of all gilt-edged .securities: automatically rises. At a moment them is available for investment in. these securities a large amount of money wbieli would normally be open for investment in in dust via I concerns. Inn until economic conditions become more settled people naturally hesitate to embark any large amount of money in industrials. So far as this Dominion is concerned, however, there is no doubt that the Prime Minister is quite right when lie says that we have turned the cornel*. That is only to be exjieeted because of the excellent price* that we are now realising for all our products, and in the realisation of them we are being substantially assisted by reductions in freights and in charges lor handling' and storing our produce in Loudon. All these concessions are in : favour ol the producers. l''iit'tliermor< i. , I think it is only right to expect mat j there will be a further hardening in j cross-bred wool owing to the high price for cotton, which is still being aflectcu , by boll weevil in America. This I"'-"* i\ reducing tin output, of cotton very , considerably, and owing to tin* high prices now ruling for cotton there is a corresponding increase in the denmnd lor woollen goods. I think that on the whole tile prospects lor the new year arc very excellent, better than they Im.ve been since the signing of »be armistice. I lie only lly in the ointment. of course, is tin* menacing position of the Near East, but I 'am san- .. nine enough lo believe that common---use will prevail, and that there will In- no will*. If we can stier clear of Wi i|.. [ uni quite satisfied that l here u j|l bn a considerable improvement in business all round in 1923. and that in ibis the Dominion will gel its lull s | l . n , 1 very to set* llie siltorc*ci attitude of l »i>tr<l on tliG Kuropnjin .situation. It looks as if America is going practically lc , Hike a band in the settlement. I s |,,,nld say I bat the outlook altogether is disiincllv good.' j