BETTER TIMES

Evening Star, Issue 21285, 14 December 1932, Page 11

BETTER TIMES

A NOTE Of OPTIMISM CENTRAL BANK A LUXURY [gpacui TO TB* • Sulk.’] AUCKLAND, December 13. A definite note of optimism was the prevailing feature of the address delivered to-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. The change in the outlook is largely the result of several happenings of importance during the twelve months under review. The pessimism that was so much in evidence a year ago is very much moderated now-. The events ivhich have tended to bring about this very desirable change of outlook have been the success of the huge conversion loan in Britain, the greatest financial transaction of all time; the results of the Lausanne Conference, and the success of the more recent Ottawa Conference. These may be only stepping stones, but at least they indicate that we are on the threshold of better times and improved conditions.' Although a return to the days of prosperity we have .known in the past may be slow, nevertheless we are assuredly heading for brighter times.” , _... Referring to the Central Bank Bill, Mr Creagh said: “ Personally, I think it is something in the nature of a luxury that we could very well do without for the time being, and it is very questionable whether it is advisable to go on with the project until_ there is an improvement in the financial outlook.”