VERY CHEERFUL

Rotorua Morning Post, Volume 2, Issue 343, 3 October 1932, Page 2

VERY CHEERFUL

KEYNQTE OF QFTIMISM CANTERBURY LAND AGENTS LGOK FOR BRIGHT YEAR. "PESSIMISM IS PAST." Chroistchurch, Friday. Depression was a forbidden topic at the first annual meeting of the Canterbury-Westland branch of the Real Estats Institute of New Zealand last evening. Optimism was the keynote of all the speeches and remarks, the speakers commenting on the d'3finite signs of a revival in business. Mr. Owen F. B'aker, the presidant, cceupied the chair, and there was an attendance of 22 members. "I suppose it is hardly necessary for ms to say that there is not a member of the institute who will not be glad to, see the financial year of 1931-32 behind us," said the president in his report, "for in keeping with other busines&es I venture to say that the year's operations. have been the niost disappointing in the existenee of all members — not that it is wished in any way to strike a pessimistic note. Far from me be any such intention; there is every reason for an opti'mistic tpne and a decided confidence for the future.

"We in New Zealand can congratulate ourselves that we live in a producing country, rich in all the natural rosources, and peopled hy a vigorous, progressive nation, so that while we have to experiencs times of difficulty, in keeping with the rest of the world, there is no reason to he pessimistic. "fff thhre has heen any occasion for pessimism during the past three years it p'assed away with the close of 1931. I am sure I shall not he accused of undue optimism when I say that 1932 has been marked by a series of happenings which all go to show that the worst is over." Commenting on the Mortgagors' Relief Act and the National Expenditure Adjustment Act, Mr. Baker said that the fact that these Acts were having ihe 'effect desired by the Government was already manifest as members already reported a c^nsiderahle i,mprovement in the real estate business; and although the volume was not yet haclc to the old level, it was on a sufficiently advanced scale to prove th'e wisdom of the Government's action,. The revived interest in real estate and returning confidence was also showing itself in the fact that investors were again coming forward with money for first mortgage purposes, and it would be obvious that the development of this spirit would he a very definite contribution toward a more rapid revival of business. "Mr. A. R. Galbraith, the City Engineer, reported a few days ago that he had taken out statistics which showed that the population of Christchurch dpubled itself every 20 years. This fact was of p'articular interest to real estate men, and went to show that the real estate business was bound to prosper. The increase eompared more than favourably with statistis for a great many Canadian towns which made a great hoost of 'the way they were increasing in population and how the real estate returns boomed in consequence. "You will notice that we have recently started a series of weekly reports along the same lines as the market reports of the sharebrokers. These, your committee hopes, will help to focus public opiuion on the real estate business," said Mr. Baker.

In seconding the motion, Mr. H. W. Heslop said that there was every reason to feel optimistic about things. Th'e position now was much better than it was 12 months ago. "We all know we've had a rotten time, and we all know we are going to have a better time," he added. "I have every reason to he optimis-t-c," said Mr. D. Stock. "I took out my figures for the first half-year the cther day, and I found they were better than for the whole of the previous year." Mr. A. W. Jamieson said that the president's optimistic remarks were justified. Business was definitely better, and it could he expected to become still better.