WELLINGTON NOTES.

Hokitika Guardian, 12 January 1925, Page 4

WELLINGTON NOTES.

BUSINESS MEN'S WEAR. (Special to “Guardian”.) WELLINGTON, January 0. As a general rule a Chamber of Commerce is more or less of an orn meat to a town ; much depends, of course, upon the popularity and initiative of the president. In recent years the Wellington Chamber of Commc o has displayed some activity outside the normal functions of such an organisation. J.ast year a number of our business men under the uuspicios ol the ( hamber of Commerce visited the West Coast of the South Island and no doubt saw a good deal, hut one lads to note any business results irom the visit, hut perhaps this may come later „n. The Chamber is planning an educative tour of the North Island and the business men are to he accompanied b\ oiliccrs of various departments. r lhis means that when they return to Wellington they will he praising the Government for what it has accomplished in the way of public woims. Eieijthing is now centred in the hands ol politician’s and the development of the country is not helped, hut retarded by this political interference. The tourists propose visiting the Hawkes Hay distric t and spending a day or two theic inspecting the pastoral, agricultural and fruit-growing areas. Then Lake Waikarcmoana destined to be one of the Dominion's largest sources ol electric |iowor is to he visited. 1 lirco days are to he spent in the Poverty Bay and Bay of Plenty districts inspecting the railway and harbour works ill the districts. Then follow visits to Koto ;-ja and Lake Taupe and the hydroelectric works at Aranuni are then to he inspected. The dairying industry in the Waikato is to he the objective of the .ninth day and on the tenth day the tourists will he homeward hound for the city, it will he a line holiday lor business men who can afford to be away, but it would lie foolish to expect that anything tangible will result. A BOSE ATE OUTLOOK.

Sir Harold Beauchamp, cx-Chairmnn of the Haul; of New Zealand, is always interesting when he talks on trade and finance, lie has just expressed his views on the present economic conditions of New Zealand and Australia and in support of his opinion that a very great change tor the hotter has taken (dace lie quotes from, the report of Dalgety and Co. Ltd., in which it is stated that very gratl'yiug improvements had taken place in Australia and New Zealand. I hrough this improvement the company was able to pay the record dividend and bonus ol 17 per cent., or 2 per cent, more than in the previous year. “AN hen one 'considers the widespread operations ol a concern such as Dalgety and Co., one needs not go further .tor moot ol the distinct improvement tk.it has taken place,” observed Sir Harold. "No doubt a large amount of cleaning was necessary, especially amongst larmeis and others who suffered so severely I'mn’i. the sudden and unexpected slump which occurred in the value of several of our primary products in 1920-21. Now with the phenomenally high prices ruling for wool and other descriptions of produce, the lanncrs are able to spend mni'li more freely, with t he ,result that there is a distinctly more cheerful tone amongst all classes of traders in every part ol the Dominion. I am glad to notice that, profiting by

i)2isfc oxperiYiiec. iiuuiv lanncrs ivcolsni.se the necessity lor paying oil or substantially reducing their mortgages, instead of employing surplus lands lor other purposes. If lid < policy he continued if is only a question ol a short time when the farmers of this country will Ire in an almost enviable position. True, there are still a number who are sheltering lhemselves under the moi.iUiiiiim, which prevents mortgagees from icalising on their securities. I hat refers chielly. though, to the class that ban not KUllicient good security to oiler to warrant mortgagees in extending mortgages at current rates ol interest, which vary from to / per cent. Indeed, in some instances Government departments have been lending at as low as (i per cent. A TRADE HECO!!B. Sir Harold then refers to the trade outlook and says:—" In New Zealand also, it appears likely that we are going to have a record for our exports. Assuming that there will he no serious drop in the value ol wool—and 1 see no reason to anticipate it, owing to the strong statistical position—l should snv that our exports for the current season should approximate to -N millions. It must be remembered, however. that there has not been such a vast increase in the volume o', products; hut it is the extraordinary high prices which we are getting lor our produce that have enabled us to achieve this wonderful record. On the whole I should sav that the outlook lor this I) in in ion is ol a more roseate hue than it lias been lor some time since the great war.” Sir Harold should have gone further and pointed out that a period of phenomenally high prices can only he temporary. I*rices will drop and that has been shown by the fall of 30s per cwt in the course of a fortnight in the price of butter and if the price goes much lower than I "(is the dairy larmeis will feel the pinch. Vi'hat is desirable just now is an increase in production and the high prices are stimulating that.