MONEY MATTERS.

Press, Volume XLIX, Issue 14564, 15 January 1913, Page 3

MONEY MATTERS.

THE ENGLISH AND NEW ZEALAND MARKET.. MR HENRY COTTERILL INTERVIEWED. Mr Henry Cotterill, of tho legal firm of Messrs Duncan, Cotterill and Stringer, returned to Christchurch te>wards the end of last week from a visit- -to England. Tho trip was undertaken as a holiday and also for the purpose of seeing his son, Mr L. D. Cotteriil, established at Oriel College, Oxford. Mr cotterill, who left tho Dominion in March last, spent a very pleasant time, and Has returned much benefitcel by his trip. In the course of a brief interview with a representative of "The Press," Mr Cotterill was asked regarding tho stato of the English money market. Mr Cotterill said that whilst ho did not go Home on business, he found it impossible to escape it, but he did not do very much, and was not studying the conditions as closely as he would havo done in other circumstances. When ho left tho Dominion the money market was unsettled, but advices which subsequently reached him in Englanel wore to the effect that the market had resumed its normal condition. He did not then gather that there was any likelihood of any financial stress, and consequently he" was somewhat surprised to find, on arrival, that a shortage of money existed. He was brought in contact with a good many business men in Englanel, but he did not gather | from them that there was any particular reason for alarm in England. Tho war in tho Balkans was causing political anxiety, but the effect on the English money market was not very marked, though, of course, it was affooteKl by the war. Ho was sure that there was no actual condition of alarm in the English money market, and the condition of the Now Zealand money marke>t, if it wero due in any wav to English conelitions, was due to the fact that a tremendous amount of English capital is being diverted to Canada at the present time. The possibilities in that _rcat Dominion f were attracting both men and money. j As to the shortage of money in Austraj lia. Mr Cotterill said that he discussed I the matter with Sir Charles McKollar on. the> passage from Englanel, learned from him that the large pub undertakings in tho Commonweal i were responsible for absorbing a lar amount of money, and that tho cv barkation by the Federal Govpmmc r uoon a hanking enterprise had had tl-. effect of making tho Australian very cautious. Whilst at Home h> noted that there was a distinct tend encv of immigration to Australia, am 1 he was informed that the passenger accommodation on steamers for Australia was cheick full for six months ahead.