AUCKLAND OPINIONS

Evening Post, Volume CXI, Issue 107, 6 May 1926, Page 10

AUCKLAND OPINIONS

EFFECTS SURE TO BE FELT IN NEW ZEALAND BUSINESS.

(By Telegraph.) (Special to "The EveninoPost.") AUCKLAND, This Day. A local bank manager, in an inter,view to-day, took a serious view of the British strike situation. "Dismal" was his succinct summary. "At this stage," he added, "it is impossible to forecast a day ahead what developments may ensue. The London banks even may close temporarily. They did so during the war. The London Stock Exchange has been closed to protect the market. One thing is clearany depression in Britain will have its repercussion here. Our Government may have to curtail expenditure, and you have only to look around to realise how seriously New Zealand would be affected if the public works in the Dominion were to cease." To the suggestion that the magnitude of the strike" would bring about its speedy termination, the banker replied, "I am afraid it will be a protracted struggle, and that this Dominion will be definitely affected and its purchasing power seriously curtailed." In regard to the commandeer of the Dominion's dairy produce, a local exporter stated that the price fixed for butter was close to that which was expected in any case, but not so in regard to cheese. A large quantity has already been purchased at 9Jd per lb f.o.b. This meant a cost in London of 105s per ewt, and if the Imperial Government commandeered it at 935, he considered that a grave injustice would be done.