NOTE OF OPTIMISM

Dominion, Volume 26, Issue 69, 14 December 1932, Page 8

NOTE OF OPTIMISM

Spirit of Hopefulness Growing BUSINESSMAN’S FAITH Dominion Special Service. Auckland, Dec. 13. A definite note of optimism was the prevailing feature of an address delivered ito-day by Mr. G. C. Creagh at. the annual meeting of the Auckland Stock Exchange. Summarising the events of the past twelve months, Mr. Creagh said: "The year has been characterised by a growing spirit of confidence and hopefulness for the future. Speaking generally, and with due regard for the prevailing conditions, business was fairly satisfactory during the earlier part of the year, and more recently, thanks to the growth of confidence, it has been remarkably good.” Mr. Creagh dealt with a number of subjects of special Interest to investors, and made special reference to the revival of interest in gold mining. In regard to oil, he said that recent developments on the Moturoa Company’s property at New Plymouth tended to confirm' the faith of those who for long had believed that oil would sooner or later be produced in large and payable quantities in this Dominion. Mr. Creagh referred to the delay of the Government in regard to the proposed legislation for amendment of the Companies Act for better protection of investors, and also stressed the “inequitable and cumbersome system of stamp duties on overseas transfers.”