OPTIMISM AGAIN.

Press, Volume LXVIII, Issue 20629, 19 August 1932, Page 12

OPTIMISM AGAIN.

UPWARD TREND IN BUSINESS. FEELING OF CONFIDENCE. VIKWS OF BUSINESS MKV Business is better in Christchureh ?nd throughout the country than it was at this time last year, and there ,:re indications of a continued upward trend in prosperity, according to leading Christchureh business men who were interviewed by "The Press" yesterday. The manager of one of the largest local -oft-gcods retailing firms was coandent that New Zealand had passed the period of greatest depression, saying that the spirit of optimism was once more beginning to make itself felt in the business worlil. TLerc was «leiii.itcly a betur feeling abroad among all classes, am!, with a favourable season, busin.-vs would improve considerably before the end of 'he year. Any change to o>me must !«.* an uiv.var'l o:u\ The real estate business an.l the motor Irade, among others, showed a I'lightness not ia accord with the difficult iiui'.s through which they had come. "Contrary to all predictions. business i* much better in Christ church than it '.vaa at this time last year, and indications arc decidedly for an improvement all round." said the firm's manager. "As a matter of fact, the volume v of business U much greater, although prices are lower. Notwithstanding this jail in prices, to-day's figures compare favourably with those of last year, and some departments nr.- showing a Inrgc inr-rea.se.

Turn of tlie Tide. I '•One is led to believe that iiie tid<; iias turned, and wo can look forward with confidence to better day.-. There is a general hopeful feeling in {ho country, which rau only be reflected in ail expansion of business, a grajlu-l rise in prices, au. increase in productive employment, and a return of more prosperous conditions. The relief obtained from tho reduction of interest, wages, and all costs ia beginning to te'l its talc, and it is reasonable to anticipate that things will become much more ; stable in the near future." The mistake Ihe world made generally, he continued, was in expecting prices to go up for ever. Prices, after all, were not so seriously down compared with pre-war prices, and it meant, whether wc liked it or not, that wo would have to revise our ideas of prewar values and accept the l'act that prices could improve only gradually. > Tanners Expected to Benefit. Wool prices at the present time were iir a peculiar position. Prices were low, but the supply was short. This applied also to woven goods, and the manufacturer had not been willing to take the risk of making enough merchandise. The improvement in business would mean an improvement in wool and other prices, and would immediately react to the benefit of "New Zealand's primary producers. Butter prices were already hardening, and the dairy-farmer was already in a comparatively sound posi. tion. "When one takes a world.view of the political situation one cannot but expect a change for the better all round," he continued. ""We arc definitely past the worst of it, and the most important thing for New Zealand to do is to get her workers back to their old occupations. It is not so important that high ' wages should be paid, but every man should be productively employed' and, what is more, ho should bo employed at his own job. Tho promising situation should make it obvious that building and other constructive work should be seriously considered in tho next six months. Pricos arc favourable and,the time is opportune." Improvement iu Eeal Estate. A decided . improvement in tho real •state business and a growing feeling of confidence among land agents was said to be the case by a leading agent yesterday, There were many enquiries being mado for residential and business premises, and more transactions were going through than at this time last year. The market was a buyer's market and people were looking for bargains, but where the sellers were prepared to meet the market sales were going through satisfactorily. "It looks as though business confidence is being restored," ho said. "Not only arc people starting new business concerns, but established firms are expanding. Recent transactions I and others have put through show that many are hopeful enough to make a start in business and that they are doing so with every feeling of optimism. Quite a number of sections arc being sold and a fair amount of building is going on. Business over June, July, and August of this year was and is much better than that for the same period last year; the number of transactions has been larger and the turnover greater."

Money Market Loosening Up. . Although the money, market was still quiet, there was money available in limited quantities for good investments on sound securities. The market was loosening up, mainly because loans were not now subject to tho regulations under the National Expenditure Adjustment Bill. "People are beginning to get it into their minds that there is a silver lining to tho cloud we have been enveloped in for so long," said another business man. "Xhe feeling of optimism is onco more coming to the front, and, when people begin to think in such a way, we are half-way towards a recovery in business and trade. Everybody gays that we have touched bottom, and it is ouly natural to expect the pendulum to swing in the other direction. What we need is just a little more faith and the spirit of adventure." The same man mentioned the effects on the business man's mind of the spring weather and the confidence which naturally came with the coming -of spring. -Better Tone in Motor . Trade. 'there has- been a better tone about the rootjjr-car retail business over the •***, jjjccks;- aeeording -to a leading QtzZpT. ' H*j said- that, although sales ofA P ri V May, June, *»4July of thie yw were considerably time of the same period last 7! r f m SST moTe enquiries b«ng »ad« lately, Thai® was ao