UNSETTLED EXCHANGE

Southland Times, Issue 18818, 11 May 1920, Page 6

UNSETTLED EXCHANGE

CHANCE OF IMPROVEMENT.

OPTIMISTIC VIEW HELD,

Optimistic opinions regarding the financial situation were expressed in an interview on Tuesday by Mr J. C. Hanna, a well-known business man, formerly of Auckland, who arrived from England via Australia by the Niagara. Mr Hanna prefaced his remarks by explaining that in these days of rapid communication there was not much of importance to be dealt with by a traveller which had not already been made known by cable or post. To a further question Mr Hanna replied that the two burning questions engaging the attention of all thoughtful people in. England when he left, were production and the unsettled state of financial exchange. In regard to the first there seemed to be a distinct improvement in the hearty co-opera-tion between masters and men, with a corresponding increase in production. In the opinion of those best able to judge, if the spirit of co-operation wore properly cultivated there need be no fear for the future of British trade. Shipping facilities were ol course an important factor. As to adverse exchange, said Mr Hanna, increased production and exports were gradually adjusting the exchange troubles, and it was thought that a substantial improvement would occur during the next six months. Questioned concerning the manner in which New Zealand securities were regarded on the London Stock Exchange, Mr Hanna said that anyone consulting the London Exchange quotations would see that New Zealand Government and municipal stocks were firmly held. “In this connection,” continued Mr Hanna, “a large landed proprietor in Northumberland, who was realising on some of his land, told me a few days before I left, that, a former African Governor, of recognised financial capacity, recommended him to invest the proceeds of his sale in New Zealand Government stocks. My friend added, however, that he could not get New Zealand Government stocks except at a heavy advance on the market quotations.”