“MUST COME DOWN”
Inflated Land Values UNPROFITABLE BUSINESS London, Nov. 17. The Hon. E. W. Parker, chairman of Dalgety and Co., Ltd., at the shareholders' annual meeting, said that Australian legislation by reducing the Interest on mortgages had hit the pastoral companies hard. In the long run it was bound to hit their clients, the very class it was designed to protect. He hoped before long to see some relief in the Australian exchange burden, which for the past two years had cost the company £242,906. Over £2,500,000 was invested in New Zealand, and the investment recently had been far from profitable. There were too many people seeking the safoe business, resulting in cut-throat competition. “Another bad feature,” he added, “is the inflated land ’values. It is essential that these come down, which I fear will-be a painful process to many farmers and pastoralists.”
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Dominion, Volume 26, Issue 48, 19 November 1932, Page 11
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144“MUST COME DOWN” Dominion, Volume 26, Issue 48, 19 November 1932, Page 11
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