OUR PROSPERITY.

Franklin Times, Volume XIX, Issue 138, 27 November 1929, Page 8

OUR PROSPERITY.

ii«niii" THE TOTALISATOR INDEX. EDITORIAL COMMENT. The Ghristchurch Star in an editorial on "Races and Business," says: The totalisator returns on Christchurch's spring carnival were up £50,000. The figures may be variously read. Those who condemn racing may argue that possibly the Government is cramping betting with the bookmakers, and diverting it to the totalisator. Those who know will scoff at this explanation. We are in no prsition to know bookmaker' turnovers, but no one possessed of any faculty for observation would dispute that they are as numerous and as busy as ever this spring. "Thero have been some disconsolate l;.les told by commercial travellers of dull times and small business this &p;ing. They have been somewhat discounted by the increased amounts oi legitimate betting turnovers in ir.eth islands. Tiiese are regarded as a fairly accurate, index of .ho spending power of the Dominion. They travel in advance of the actual bookings of our emissaries of the importing houses, for they are the primary producers' estimate of how our staple exports are going to fare in overs j*'.s markets. If these sell satisfactorily there will be a trade balance on tho right side and the town tiding community can reckon on reasonable buying by country customers. Fortunately, the New Zealand Hock owner discounted in advance the world's drop in wool values. Now he sees the bedrock values he was preparing to meet improved by 1 perhaps 2d per lb for coarse woois and lid per lb for the fine wools. As i to his lambs for killing, there came i timely advice that in Hawke's Bay

the market has opened on a basis of Bid per lb, which means probably another farthing for prime Canterbury. "The dairy farmer is also counting on sustained prices. The forward sales of a very large percentage of the South Island's November-January cheese output have been made at from Bid to B.?d per lb, which is equivalent to Is 9d to Is lOd per lb for butter-fat. Thee prices are not extravagant, and the fact that the producers are buoyant in feeling on what seem to be stabilised figures should tend to create all-round confidence."