MONEY.

Timaru Herald, Volume CXXIII, 6 April 1926, Page 5

MONEY.

TIGHT IN AUCKLAND. By Telegraph—Press Association. AUCKLAND, April 4. Money is -reported to bo tight in Auckland tin’s Luster. The shopkeepers say so. and that, other financial barometer, the totalisator, shows a severe shrinkage on receipts on Easter Saturday last year. Easter trade in the shops has not heen very brisk. For the majority of them business was conlined to purchasing necessities to carry over the Easter period. The impression gained by a large’ number of business peoplo was that money is tight, and in anticipation of what they fear may be a hard winter people are buying with enut,on. and discrimination.

Several reasons were advanced for the comparative inertness of trade. “Too much money is locked up in land and motor cars,” said one man who has carried on business in Queen Street ior the past twenty-four years. “I can well lemember the time when Easter was a Loom perod for shopkeepers.” Increased travelling facilities between country districts and the city. was also given as a --eason for the diminished trade. In former days people made a practice of coming to tlio city at Christmas and Easter to make extensive purchases of things moro or Jess luxuries. . Now they are able to come more frequently. . “I think the fact that the financial year of the Government ami many local bodies and business firms ended on March 31 has had much to .do with the restraining influence on trade ” sakl another business man. “Now they are starting out on a new year 1 think tilings will improve.” One of the heads of a large drapery establishment said his experience this Easter was that although not, buoyant, business was quite normal. An early Easter did not favour his hno of trade. The weather was still fairly warm and people were- not yet inn ung winter purchases. They were buying cautiously and not lavishly. lleports oi come of the smaller drapers were not. so encouraging. ey ■stated that this was a bad Easter for them and they accounted foi it bv an' all-round shortage of money. ‘ Jewellers had nothing much to complain about. “We cannot growl,” said one “Business has been fairly good. Easter is a favourite marriage period and consequently jewellers reap the benefit through the purchase ot pre,6An' important aspect of trade in Auckland during the past tew yeai. has been the increase m the number of shops in the suburbs. _ People "’ho a few years ago came into the city to do their shopping now find they <vm purchase many of then- needs in the : r ov„ district. This is influencing business m th” cite. __