NEW ZEALAND'S CONDITION
BANK PRESIDENT'S CRITICISM. By Cable.—Press Association.—Copyright. Received 7, 10.55 p.m. London, July 7. The President of the National Bank of New Zealand, speaking at the annual meeting, said the dominant note in New Zealand last year had been the financial stringency, which was main'v due to a reduction in the value of th" export surplus. Instead of there bein'r a comfortable margin of profit to cover interest on loans, New Zealand's exports had done little more than provide for the cost of imports. There had recently been a steady improvement fa the outlook, which justified the hope of an early return to New Zealand's accustomed prosperity.
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Taranaki Daily News, Volume LII, Issue 137, 8 July 1909, Page 2
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109NEW ZEALAND'S CONDITION Taranaki Daily News, Volume LII, Issue 137, 8 July 1909, Page 2
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