Prosperous Times.

Horowhenua Chronicle, 27 April 1910, Page 4

Prosperous Times.

VALUABLE WOOL CLIP. The banking returns recently issued were referred to by Mr Harold Beauchamp, chairman of directors of the Hank of Xew Zealand, in the course of a conversation with a,n Auckland "Herald" representative. The returns, Mr Beauohamp said, disclosed a complete reversal of the position as it was twelve months ago when, owing to the serious drop that- had occurred in the value of the dominion's primary products —wool, frozen, meat, etc.—customers were leaning heavily on the banks. The present satisfactory position had been brought about by the magnificent prices realised during the last season for wool and other products. "It will bo remembered," continued Mr Be-auchamp, "that six or seven months ago mutton and lamb in the Loudon market were selling at practically 40 per cent, lower than the prices now obtaining, and it is gratifying'to hear that despite the heavy shipments in transit, the values are likely to be maintained. With regard to wool, T think it will be shown that the estimate T fonued at the com-mencement-of the present season will be realised, namely, that we shall rtbtain «t least G2,.100,000 more for last season's clip than for the clip of the 0110 immediately preceding it. Further, the large amount of money now available for investment is also due to the grout falling off in imports from the United Kingdom iwl the Empire. isi Kill probably deal fully with this point at the next general meeting of the Hank of Xew Zealand, which takes place in June, when the figures for the year ended March 31st will be available."

■Referring to the present boom in rubber, Mr Beauohnmp said that according to advices it was likely to continue. It was to be α-effretted bliat owing to so much money being avn.ila.blo for investment in the United Kingdom si large number of companies were likely to be promoted, and it was only reasonable trassume tlwib a great amount of money would be lost in "wild cat" companies. Still, there was no disguising the fact that people wlio invested" in rubber some timo affo would reap enormous profits. "We liavo heard," lie con tin nod, " ol_ one company paying a dividend ol 300 per cent per .annum." As to the nil industry. Mr TJenucbamp snid there was n'otbing particular to say on the subject, bevond Hie fact til wit tlioy awaited with in't»nwfc the result of an attempt now beino; made to float a compnnv in London to acquire, nn interest at New Plymouth.