The Commercial Outlook.

Southern Cross, Volume 2, Issue 29, 13 October 1894, Page 12

The Commercial Outlook.

(Bt Argus.)

The Commercial Outlook is of as much importance to the business-man as the compass is to the mariner. Byrecognising the signs of the times he can so regulate his expenditure as to ensure a better return than by blindly following the old methods. In these days the press is a powerful factor in disseminating information, and with a view of conveying some idea of what the commercial outlook is, I purpose, at the editor’s request, to occasionally contribute a few items which it is hoped will be of some practical use to the numerous readers of the Southern Cross. How, then, does the commercial barometer stand at the present time ? Low, decidedly low, but rising. It would rise much more quickly if people in New Zealand could only be made to understand that making laws does not make work, except, perhaps, for Hansard reporters, printers, and paper-makers. As a community we are fearfully over-governed, and until the people realise this it appears to me that there is little prospect of improvement. Political disturbances.act and re-act on commereial transactions, and hence it is that in referring to business matters the political aspect cannot be ignored. But while things political are as unsatisfactory as they can be, and although the commercial barometer is low, there are not wanting indications that it is rising. The wool clip promises to give a good return to growers owing to the opening of the American markets. It is to be hoped our wool-grower's will combine to make the Invercargill wool sales a great succcess by trying to sell their clips in the local market, and thus ensuring the visits of foreign buyers. Dairy factories throughout Southland are now in full swing, with prospect of fair, if not high, prices throughout the season.

Bank shares continue to he quoted at very low prices owing l to recent financial disturbances; values should now improve. South British Fire and Marine Insurance Company have had an exceptionally good year and pay a 15 per cent, dividend. The reserves have also been materially strengthened. The prospects of the English harvest appear to be good and wheat is not likely to be much higher in price in the colonial markets. This will not'be good news for our farmers. Notwithstanding the heavy shipments of frozen mutton there were 742,187 more sheep in New Zealand on the 30th April, 1894, than on the corresponding date in 1893. Otago and S&uthland are credited with an increase of 51,143. 1,702,407 sheep were exported from the colony. Bluff stands fourth on the list for export of frozen mutton, upwards of 12,000,000 lbs. having been shipped from this port for the year ending June 30th, 1894. Nearly 4,000 tons of butter and 2,728 tons of cheese were exported from the colony for the year ending 30th June last. Most of the butter must have gone from the North Island as the South does not seem to excel in this industry. No doubt Southland contributed its fair quota of cheese. Mr William Watson, late of the Colonial Bank, has been appointed President of the Bank of New Zealand at salary of £45 a week. In my next contribution I shall probably be able to report that most of the Government proposals for borrowing and unnecessarily taxing capital have been thrown out. The country wants political rest; then, and not till then will we have commercial prosperity.