WELLINGTON NOTES.

Hokitika Guardian, 7 May 1924, Page 4

WELLINGTON NOTES.

REFORM PARTY BUSY

(Special to “Guardian”.) WELLINGTON, May o. One Wellington weekly paper in referring to-the Reform Party recently called it the “Deform” J'arty, and whether this was hy accident or design, it somehow seems to suit, for the Reform Party is very much deformed, and an effort is being made to reform it. Messrs A. D. McLeod M.P., (). Ilanken M.P., and D. Ilelienton (organiser) have been busy in Wellington electorates endeavouring to resuscitate the Party. Of course in every electorate there are those who see eye to eye with the Reformers, and there are a certain number of electors who like to ho seen and heard at political gatherings whether of a public or private character. They like to feel important, and they do enjoy the mild excitement of “feeling the pulse” of the electors as they think they are doing. But executives and organisers, and other busy bodies call never get to know the views and opinions of the elector who maintains a rigid silence, but never forgets to vote. One has only to get into quiet conversation with different classes of people in this city to realise how muon bitterness is entertained towards the Reform Party. Mr A. I>. McLeod M.P.. recently staled after a tour of the electors, that the Reform Party had lost ground, and the present ae tivily is an effort to recover the Just popularity. It is a futile ellort, loi the* errors of omission and commission ol the Massey Government are too numerous to he swept away h,v any mere organisation of the thick and thill supporters ol tile Party. Ihe present activity is interpreted hy some people as disclosing the probability ol an election this year following upon the dissolution of Parliament. J.lie people seem to want a change of Government, and the people will get what they want. THE ROAD HOG. On .Saturday, April 2.i, when races were held at Trciithaiu m honour ol the visiting Special Service Squadron, there were numerous motor accidents on the 11 utL Road, especially on the return journey to the city, and as is well known a trallie inspector of the Wellington City Council met with an accident on the road that evening which ended fatally. J Ids lias led In a lull discussion of the methods ol icgulatiug the molur trallie on this arterial road. Ilv-laws are now being drafted hy the City Council for supervision of this trallie, and there is considerable speculation as to what form they will take. The stop watch and the measured distance system • are roundly condemned hy regular users of the road who point mu that two men or twenty men taking times and numbers could not hy any stretch ol imagination ho said to he exercising a proper measure of mad control, lor speeding is. not the only danger. Drivels who hang to the centre ol the road, tlie.se who suing uilL dangerously in over-hauling slower moving vehicles. horse-dinun lorries oil the ear track, cycles anywhere, but on Hie cycle track, miild not he put ill their places by time keepers. It was when last and slow, light and wrong side, straight ahead and corkscrew trailie made a mixture ol it that smashes and accidents oeiurred. The American practice is to mounl control otlicers on high speed motor cycles. With such control there could he no argument about the speed limit being or not being exceeded. I lie magistrates must also lie requested to he a little more severe on the speed maniac and the most, effective punishment would he to cancel the license of the olleiiders. Speeding would then cease promptly. INVESTMENT BAROMETER. Slock exchange securities—that is ‘■.locks an! shares often furnish a veiv .010-1. i-b-n '•! i.he (veil I ol investments. Prior to the war trust money and other funds were almost invariably invested in mortgages of freehold land. This was considered the very best security, hut the inoi-a-ioriuni changed the i iews <d investors. The moratorium was no doubt justified when lir-t introduced, all 1 i* iL had ceased when tile war ended or som afterwards all might have been well, Imt its continuance for six years after the close of the war has inflicted serious hardships on many mortgagees. It is due to he lifted til the end of the year, lint there is no certainty that it will he abolished (lien. This is one reason why mortgages are not favoured hy investors. Eurtlierinore the larger lending institutions like the life insurance companies are able to invest ihoir funds in the Commonwealth to a great advantage. The Unmmnmvcallli Government and State Government stocks yield (j per cent, and mortgages yield 7 per cent to 8 per cent. Money like water will find its own level, and so the funds id these institulinns are being invested in Australia. A third factor in destroying confidence in mortgages has been the absurdly high values placed on real estate hy professional valuers. Investors seem now to prefer placing their motley in stock exchange securities, and it is a well known fact that there are fashions in such investments. Just now hank sliaro« stand pre-eminent and at current quotations the yield to the investor is comparatively small. The shares of timber companies are also strong favourites because of the building boon. Freezing companies' shares are the weakest and for obvious reasons. Most of the toiherns aie losing mouev.