PROSPEROUS TIMES.

New Zealand Herald, Volume XLVII, Issue 14348, 19 April 1910, Page 6

PROSPEROUS TIMES.

VALUABLE WOOL CLIP. MR. HAROLD BEAUCHAMP'S VIEWS Tm: banking returns recently issued were referred to by Mr. Harold Beau champ, chairman of directors of the Bank of. New Zealand, in the course of a conversation with a Herald representative last evening. The returns, Mr. Beauchamp said, dieclosed a complete* reversal of the position as it was 12 months ago, when, owing to tho serious drop that had occurred in the value of the Dominion's primary products —wool, frozen meat, etc. —customers wore leaning so heavily on the banks. The present satisfactory position had been brought ■ about by the magnificent prices realised during the late season for wool and other products. • " It will bo remembered," continued Mr. Beauchamp, " that six or seven months ago mutton and lamb in tho London market were celling 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, I think it will be /shown that the estimate 1 formed at the commencement of tho present season will be realised, namely, that we shall obtain at least £2,500,000 more for last season's clip than for the clip of the one immediately preceding it. Further, tho large amount of money now available for investment is also due to the great falling-off in imports from the United Kingdom and the Empire. I shall probably deal fully with this point at the jiext general meeting of the Bank of New Zealand, which takes place in June, when the figures for the year ended March 31 will be available.'' Referring to tho present boom in rubber, Mr. Beauchamp said that according to advices it was likely to continue. It was to bo regretted that owing to so much money being available for investment in the United Kingdom a large number of companies were likely to bo promoted, and it was only reasonable to assume that a great amount of money would be lost in " wild cat" companies. Still, there was no disguising the fact that people who invested in rubber some time ago would reap enormous profits. "We have heard," ho continued, " of one company paying dividends of SCO per cent, per annum." As to tho oil industry, Mr. Beauchamp said there was nothing particular to say on tho subject, beyond the fact that they awaited with interest the result of an attempt now being made to float a company in London to acquire an interest at New Plymouth. In conclusion, Mr. Beauchamp said ho was gratified to find Auckland in such a prosperous condition. Having regard to the great amount of public money that was likely to be expended within the next few years, and taking into account the development of the land in the Wnikato, there was every reason to expect that this prosperity would bo maintained, if not substantially increased, in tho future.

BLOCKING TME TRAFFIC.

A NEWSPAPER COMPANY FIXED. [BY TEI,K(JR.Vnt — HIKSS ASSOCIATION*.} Wellington, Monday. Juimjaikxt was delivered bv Mr. .W. G. Riddel!, S.M.. to-d;iv in the cases brought by Inspector Doyle against the Now Zealand Times Company, Limited. There wero two informationsone of encroaching on Lambton Quay for the purpose of exhibiting pictures on a screen, and the other of causing «i crowd to congregate in Lambton Quay, so as to impede traffic. Defendants had pleaded not guilty on each count. Regarding the first information the magistrate said he was satisfied from the evidence submitted that what had been done by defendants was not sufficient to constitute an offence. This information must be dismissed. On the other information defendants must bo convicted. This information was laid under by-law 54 of the Wellington Citv Corporation by-laws. The pictures began at nine o'clock in the evening, and the natural inference was that the large crowd that subsequently gathered and stayed was attracted by the exhibition. In his opinion this was sufficient to amount to an offence against the corporation bylaws. In regard to the reference made by Mr. O'Shea (the city solicitor) to the loss of receipts sustained by the stoppage of the trams on the quay line, the magistrate said that that did not como within tho scope of the by-law ; it could be dealt with civilly by a claim for damages. In the second information a nominal penalty would bo inflicted, inasmuch as it was the first prosecution of its kind ; it would act as a warning to others. Defendants would be fined 40s, with costs 7s, and solicitor's fee £1 Is. Costs wero not allowed in the first case, Mr. Rid dell considering that the matter was one of public concern.