CAPITAL FROM BRITAIN.

New Zealand Herald, Volume LII, Issue 15942, 12 June 1915, Page 9

CAPITAL FROM BRITAIN.

INVESTMENT IN DOMINIONS.

METHODS OF INQUIRY SUGGESTED.

A deputation from the Oueliunga Chamber of 'Commerce, consisting of Messrs. M. H. Wynyard, W. W. Warnock, and A. McColl, waited on the council of the Auckland Chamber of Commerce yesterday regarding the encouragement, of the investment of British' capital in New Zealand.

Mr. Wynyard said that the Onehunga Chamber of Commerce had had this matter under consideration for some time past. In the past British capitalists had been rather reticent about investing in colonial ventures, because in the past they had been rather badly beaten, and also had had labour troubles to contend with. It was most important that the claims of the Dominion for the investment of surplus capital should be put before them. Ho quit© realised that the present time was not opportune to do this, but if the chambers of commerce got the matters in train they would be in a position to approach the British capitalists When opportunity offered.

Mr R. Burns, the chair-nan, said that any movement that would tend to bring capital into this country for its development was to be highly commended. He suggested that the matter should be referred to the conference of chambers of commerce, to be held at Wellington in July, or August. Mr. T. Peacock: In what direction could the British capitalist invest more than he has been doing? Mr. Wynyard replied that there were many complaints that the British capitalist had been rather shy in investing his money in this country, and one of the reasons given was that he had not previously been supplied with reports, the result of proper investigation, concerning ventures that proved to be failures. If there was some authoritative body to whom he could refer for information then ho might be encouraged to invest capital. Mr. Gerald Peacocke said that he did not think any body like the Chamber of Commerce would undertake the responsibility of guaranteeing that investments wore" sound. If the Government established a bureau it might be of advantage. Mr. Wynyard: We only suggest that the chamber should recommend a capable man to give a report if asked. It world certainly assist if somebody would do this. Mr. T. Peacock said he thought the chairman's suggestion, that the matter be forwarded as a remit for discussion at the conference, was a stood one, and he moved that it be adopted. This was agreed to.