Lotteries Blamed For Trade Recession

Press, Volume CI, Issue 29867, 6 July 1962, Page 10

Lotteries Blamed For Trade Recession

(From Our Own Reporter)

NELSON. July 5. The view that the frequency with which the Golden Kiwi lottery was being drawn might be having an adverse effect on business and trade, was expressed bv the president. Mr K O. McGuire. at the monthly meeting of the Nelson Chamber of Commerce last night. Mr McGuire said that the lottery being drawn twiceweekly meant .that a great deal of money—anvthing frpm £lOOO to £sooo—wa= going elsewhere, and with little return *-> show for i‘ People were even spending their housekeeping money on the tickets, he said “It was not often a Nelson ticket won first prize.” he added. Money Brained From District Mr McGuire said the money was being drained ou' of the district, instead of being diverted into norma! trade channels, and he wondered whether there was any w’ay of telling if the shop trade was being affected by the lottery The president of the Nelson Retailers’ Association. Mr K. D Wood, said today: “It is a fact that general business for this time of year is less than normal, and we can’t really account for it There is little money around which also explains why everybody is putting on their winter sales three weeks ahead this year. Summer stocks are due in soon, and they have to be paid for.” The Postmaster of Nelson (Mr G. F. Bell) «aid today

that there was no perceptible change in Post Office Savings Bank accounts. "Deposits are still ahead of withdrawals.” he said, although he explained it was a difficult period for judging general Post Office business. ■ Mr McGuire said today that he believed the business slump copld still partly be attributed to tjie lottery “Everybody talks about poor business, and yet we have had this year record crops of fruit and tobacco. It does not make sense.” he said. Nelson grants from lottery profits, so far. amount to £2285. of which the major grant of £lOOO went to the Nelson Agricultural and Pastoral Association. The Nelson Day Nursery Association received a half-yearly recurring grant of £5O.