ENTERPRISES

New Zealand Herald, Volume XLVII, Issue 14427, 21 July 1910, Page 5

ENTERPRISES

' «i want of confidence. LEGISLATION. IpL fIMOMTB.-O" CORRESPONDENT-] tf|||sfp : - . Chbistchubch. Wednesday. - flffe '• marks made at Auckland by Mr. " Beauchamp, chairman of directors lp:' Bank of New Zealand, when inter- [ fM. *°>by a New Zealand Herald rcpreI ® r „ in - regard to the want of conh- % ***?£&of investors, are endorsed . f.f ' den --church bv men who are closely in. v: TI. C y that. ' ; ' - S£fc a marked tendency to invest money :j a way that it will neither necessity 'L testers remaining in the Dominion ;• ' J*-— heavy responsibility m regard to J? SS to the investors' intereSt " m Uany pecplo with largo sums of money r - ' iid prefer low rates of interest and the ' r '- St/of even fair rates than anxiety. £ : Sit is stated, is having an appreciable B .-!£■ on industries. Investors are inclined v -fkeeo aloof from them, and industrial en- • - tprise does not hold the posit ion which it • VV 'St bold if there was greater confidence. ► , ' S is tho opinion expressed by several Vn in Christehurch who study the money irket deeply. They attribute the position , ,wely to the instability caused b\ what :V'. |u er call in a general way the Dominion's * 'labour legislation. Several of them, like • Mr Beauchamp, say that their sympathies *' have been with labour in its struggles in Vew Zealand, but they think that some of the measures have gone too far in restrict--1 ing the operations of capital. They also 0 believe that the possibilities of further legis- * & ution against the interests of capital are deterring investors. "A man with £60,000 * lor £70,000 is not likely to start a foundry, ' ' for instance," one of them said when he * discussed the subject. "In view of the . vexations and annoyances he is almost sure - -v' v lo be subject to he will look for other in- £ " vestments, which may give him a smaller i return but which will not carry such a large ' measure of uncertainty. When numbers of £■- jnen take up that attitude and put their I? money into debentures it almost kills enter-

prise." - ; : "There is no doubt," another man said, * "thai labour legislation has been weighed yj tie balance and found wanting, mainly !Si ; wing to the attitude taken up by certain * - men in this country. It is like a private If; family; it has its skeleton in the cupboard, pi We keep it locked away as much as possible, jpv- ; {jut it always comes out to confront us, and ¥- it often appears at very inopportune times i i\ '(rhen .re most wish to hide it away." a "*; ' As to remedying the position, local finan- ?•_ ~ . cial men are no readier than Mr. Beauchamp b - -* to offer any suggestions. They merely exii):':;- press a hope that time, which remedies most |>vfe tilings, will bring about more confidence I'and greater industrial enterprise than they I fiud at present lIS ========