COMMERCIAL.

Taranaki Daily News, Volume LI, Issue 224, 15 September 1908, Page 3

COMMERCIAL.

ih/.iEY MAKKET. ilr. C. E. Major, mortgage agent,;. Hawera, in the course of his report, says:— The financial outlook is stea lily though tardily improving. This is in a way due to those who control the destinies of financial institutions in the Dominion. The creation of panic conditions is looked for and expected from small investors. The financial stringency and almost panic from which we are emerging was brought about by the trustees of the people's investments, not by any dread of loss and clamor with concomitant panic by : those whp bad small sums placed with the various banks and other financial institutions throughout the Dominion. It has been a case of panic and then tiniorousness and blundering by those Controlling the destinies of* high finance in New Zealand. It is not hard to foretell what the result of their short-sighted policy would lave been if the Dominion had not been in so stable a financial position. The public and private wealth has increased during the past twelve months in a ratio that must be reassuring to the most apprehensive of pessimists. This position is endorsed bv the opinion of London investors, it being reflected in the value of our stock in London. The Government Advances to Se!.tlf i>f Department has more than ever proved tihe salvation of the borrower. It is no exaggeration to say that in a very great measure this Department, coming to the succour of those who arc pressed for payment of temporary and matur- 1 ed loans, has not only relieved, but has saved the Dominion from a perilous situation. The increase in the value of our products is making itself felt, and the million and a-lialf money to be borrowed by the Government fo~ the prosecution of public works will also help rn a great jieasure to niakleDominion finance normal again. Money for investment is already more plentiful and rates of interest have declined by practically 1 per cent, on large sums on freehold security. Mr. Newton King has received the following cable from his Sydney agent re hides; "Strong market." The New Zealand Loan and Mercantile Agency Company, Ltd., have received the following cable from their London house, under date the 12tli September: "Sheepskins on an average ha,ve advanced %<! per lb."