BANKER’S WARNING.
WORLD CONDITIONS REVIEWED. V. • r f v ’ \ : ; : (United 1 Press Association—Copyright i SYDNEY, November 26'.. Reviewing world conditions, , Sir Thomas Buckland (president of the Bank of New . South- Wales), at the annual meeting to-day, said: “Our present prosperity has certain underlying weaknesses. We must do all we can to avoid a recession.’ of business activity. From now on, the wise industrialist or primary producer will, before adopting any projects for expansion, consider whether'he is in a position to stand up to any reduction in turnover or fail in prices. I counsel the utiifost caution.
“The outlook for the current season seems generally satisfactory, but there have been some rather sharp falls in recent months in some of our most important primary products.. This drop is quite serious enough to cause some uneasiness, even though it is due rather to the disturbed world situation than to any basic unsoundness in the marketing position.”
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Ashburton Guardian, Volume 58, Issue 41, 27 November 1937, Page 7
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154BANKER’S WARNING. Ashburton Guardian, Volume 58, Issue 41, 27 November 1937, Page 7
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