AUCKLAND VIEW MORE HOPEFUL.

Auckland Star, Volume XXXIX, Issue 113, 12 May 1908, Page 2

AUCKLAND VIEW MORE HOPEFUL .

'"What is the financial outlook 1" was a question pat to a number of the leading financial men,of Auckland by a "Star"' representative this naorniag. The ienor of the replies given varies considerably, but the enquiry elicited some very interesting information.

An authority on pastoral matters was first, approached, and he admitted that one of the principal reasons, of the present outcry -was because of the fact that wool had suffered such a severe slump in pricp this season. "We opened to a falltug market, and it has* kept on faUin^. , ' said the gentleman in question. a mxther sale starts- in ive have just been advised that there is no confidence in the market, and a fall of from 10 to 15 per cent on current quotations is anticipated."

"What do yoii estimate New Zealand loses on its wool-clip this season?".--The total clip of the Dominion figures out at 400.000 bales, and a loss of from £5 to £6 per bate'means, that New Zealand this year receivee, approximately, less- for her wool than was the case last season."

"TVhat will be the actual loss in the tvool cheque of the Auckland province?"

"Our flocks total 700.000. producing 12.000 bales, on which the loss will b? -£60.000." -

Asked what the position was as rejrards stock, the reply was more hopeful. The dry weather experienced .duraig the first three months of the year nad its drawbacks, but it was instrumenta] in sweetening the ground, with the result that there has been a wonderful growth of pasturage. • Stock are in splendid condition, and prices are good, with the result that the outlook for the \rinter is very hopeful.

"A fortnight ago I went south," said Enother genfleirian , ' when approached on the subject, *iind in Wellington and Dunedin I heard greal talk of ~a'slump, and bad times*siTead. " Ttey" Were' mournful Dier-the price, of. wool, the drought had caused "meat to come - forward in smatt quantities, and "they did not seem to have made mucii money out of wheat. 'Then. they have been- paying -such big price's for land. Syndicates which bought up large - areas aj^big prices now find the utmost difficulty in quitting jinrchqses. Then the"butter market has not been satisfactory. The drought came along and prices went but they did not get the benefit, having already sold their butter -early in the reason on consignment. -So that altogether they ere inclined to look rather dolefully on the aspect." Asked what the position was in the north, the reply -was that there -was a tightness "hi the money market./ "As aa instance," he quoted* M.can assure you that last month our firm had over *£900 worth of accounts, which had to stand overTof payniemrfrom clients who had never before failed to meet_ their CbiigatioiE on the due-day. Tie-cre-dit system has such a told that it is hard'for some business houses to keep going at all. living is €ea*j and wages high. There is "no"gainsaying that our exports show a considerable decrease, and I tM-nlr the difference -in-value will be quite" £4.od&#ooV" ' Just how this ■will affect the- Dominion -remains to be. seen. 5 - ■ ■'-•"•- ■ " Butter, market "and ife outlook?" said ""asofiier. gentleman .approachedy "I&rtanaifeiy, whatever else, niay have been affected,- that stands--'pr£tty firm-. Our exports from Auckland for thejpastseason total 144.-52S bpxes v agSinst 139,175 bozes io\ .the. previous . year. Further than that, we have -19,000 boxes in cold storage. :' Good prices: itass. been, received, and continue to prevail. Truly," the. outlook during the first three months of. the year was not bright, bet-the dairying industry: fiae-since-' -risV covered a wonderful rece-very.. The AprifMay output-has teen'an-excellent one, and helps to compensate..for what ■was lost Jn the earlier montHs." From, the -dairy point of. view, "the outlook is all right Local prices have/ been"really"good, and/the indications are. promising. _ Ihe industry 3%-ihe Tnainstav of the north, and prospects are not so bad as many people imagine. Feed is plentiful, prices high, and-the dairy farmer is well satisfied." . . '.

"The bottom dropped clean .out of the flax market this season," wae still another aJ3S"wer to a quex£_.pu£ .forward; "and the loss to Auckland province aiona on the exports between January and April will be close on £00,000. B.ut it is unquestionably one « those fluctuations to: which the market is subject. A few years ago the present price would have been regarded as.r excellent, but the fictitious values ot last season is responsible for the acute position in which many of those connected with the industry" 7now find themselves."

For some time past there has been little life in the gum market, and store-" keepers whJC> purchased ir ; eely: are now feeling "the pinch, -since they are-unable to realise on their stocks. ""There"has been a 33-per cent depreciation,'and a considerable falling off" in quantity,"' sard : s. merchant interviewed, "so that there muss be'a. less ; ,t6 : the provinee;of nearly 60 per cent/compared to previous years." Despite depression in certaik ■-Hidustries, gaierally optimistic feeling in busmess circles. In".; quiriss elicited the fact that there are no unemployed in Auckland, Jha.t all iraderajare.in.following, aad-JEhal; biiild-. iaw progress. "lastveaf*='"'binldings : returns "iiT ' Ancfcland" building,,' construction to the extent of threeHjuarters-of: amillipn. was

placedrTn.hainL . - » " ' The .value . oLJand' iniJie Nortiijs stea4ity-"improving, an3~during the-last i [ hajads.-rep'patesily a^^ro^i^jOEu^'eacli transaciioii. ". land agents~speafc v. eattaig.. ,*stically of -the ,aoa_ a»-

sert that once the North is, opened up with good road's and railways the rabies will increase-"even higher. "Whatever the position may b.e in the South," said an. Auckland business man," we have little -te- fear in the North. We are different from all other provinces in ISTew Zealand, in. that we have so many industries "ltd fall back upon—dairying, gold, timber, gum, flax, -wool, coal and stock. Southerners and many Australians are just beginning to. realise this, and it would rather surprise some people if they could ascertain how many have recently bought land in the Auckland province.