COMMERCIAL ITEMS.

Hokitika Guardian, 29 March 1923, Page 3

COMMERCIAL ITEMS.

BANKERS AND FARMERS. In the discussion of the distress of the agricultural industry in Britain, the hankers have been called upon to deal with the charge that the huge modern banking aggregations have deprived the small farmer of the credit which lie used to obtain from the old private kink with purely local conneeI tions. The bankers have met the complaint w : t!f cold statistical figures. Dr Walter Leaf, of the Westminster Bank, gave figures to show that the average advance to fanners was k'SOO per customer, and in some districts only about k'7ol). These figures indicate that the small farmer is getting a fair share of available credits. ()! the total loan* made by tin- bank 2* per cent was totally unsecured and 13 per ("Uit only partially secured, malting a total of li per cent of loans granted oil credit, the value of which as security could only have keen determined by personal knowledge acquired j Itv local bank managers or the eharne- | ter and industry of their customers. I Mr Beaumont Pease. whose hank lias j a much larger agricultural connection than l)i Leal'-, showed that its total advances to farmers were about L' 11,000.( niti, or just over Clooo per customer. Furl her, Mr I’ea-o quoted examples of the credits granted to farmers by two private banks before they were absorbed by his hank, and compared them with the credits nowout standing. In one ease tlie advances showed an increase of considerably more than 1(10 per cent, and in the other an increase of about 70 per cent. Sir Henry Go~chen likewise disposed of the suggestion that the hanks were not liberal in the provision of credits u> farmer.-, lie explained that they had outstanding advances to over 8000 lannei LONDON BANK AGGREGATES. Judging by the com hilled figures of the live greater banks in England fur the year ended December 31. there is reason to hope h r a more encouraging outlook in rc-pect to trade in Great Britain. The shrinkage in deposits lor the y ear front k'l .<> I I, I 30.981 to k 1.732,00!!. 100, showed no very marked dill'eronco between the two halves of the period. Advances al L'l'iUO. 170.072 coni rnctod by k'22,322.1 0,1 during the first half of the term, but in the second hall demands lor accoinmotlnliiin had levived, and the total ill December 31 was only k'l 8. | --,233 below that at the corn -ponding dale in 1021. Bills discounted al 0208.91!!,3t17 were !_' 120,073.073 less than for lasi year. Money available for invest men! s had increased by k'1>7,297.320 during llm first six months of the year, lull it was satisfactory to note that in the

second hall of the term other employment had been imim! lor k'20,307.351, tints reducing the expansion under litis heading to k 10,720,731. A FSTRA LI AN GOLD INDUSTRY. t'nder existing labour awards, and tite improvement in tlie dollar-sterling rate of exchange, prospects for the gold-mining ilidu-tiA o! Australia are not encouraging (says the "Argus''). With the movement ol sterling inwards normal, so i- the premium on gold reduced, with the result that il the mines are to pay higher-grade ores will have to he treated that) has been possible when the premium on gold was !»igh. Tim ( ommouweaUli, a- a prn,liner of gold, held see place in the Empire mil il (lie ('ana ban utitptu wa - increased Irom k3.- ;| t i.t on in 1921 to a value last war pi <.'3,30;i.0!W1. while Australia's production Ice the year showed lift ie change. The TtaMsvaal output last yea: also was much below that for 1921. but this was title to the Rand strike of January-March. Si::"" ltllwhen 111" value of I lie gold produced to i la- world was k73.20'),0(n, l Imre has lean a steady decline in production, and last year it was estimated at. kOo.h'Oti.GOO. The Liitt li Empire has held -way a-, the principal producer. and e:*Jd obtained JP 1922 r*].IHP , ijlup of !.\! !.n il 1,000, or 07.7 per the total lor tile V ol'ld. The percentage in this respect it, 1921 was 09.7; in 1920. (59.0; and in 191!) 00..7. ,\ lending authority tu England prediits that 1922 will have seen the end of the decline in output, which has been pro,ceding since 1913 the year of high water mark and L|. 11 1 a notable improvement i' likely to he -ecu this year. lie takes this view I,cm use of the promising increase in pro.duet ion in the Transvaal, where during the second hull ol last year gold was won to th' value ol k19,T00.000. In all instances the values above are taken at L I Is II jd a line ounce. HIDES SALE. BRISBANE, March 29 Al tlie hides sides competition was good for all hast conditioned hide- at late rates. (Ithers showed a slight decline, particularly medium weights. Bariev. English, 3s fid to Capo 3s 2,1 to 3 . 21-1 ; oats 3, Sd to 3- 9td ; potatoes Li> tu ki 3s; onions ko In k 3 3s.