ADVENT OF NEW YEAR.

New Zealand Herald, Volume LXIII, Issue 19215, 2 January 1926, Page 9

ADVENT OF NEW YEAR.

I FESTIVITIES IN ENGLAND. hopes; for the future. A SPIRIT OF OPTIMISM. Hy Telegraph—Press Association—Copyright. (Received S.a p.m.) A. and N.Z.—Reuter. LONDON, Jan. 1. The New Year was heralded in with the usual festivities throughout England. The crowd that gathered outside Sc. Paul's Cathedral was of pre-war dimensions. A great ball was held in the Albert Hall last evening in aid of the Middlesex Hospital, 6000 people being present. People in London and the provinces listened to and danced to 1926 music broadcasted from Berlin, where the Isew Year was ushered in an hour before Big Bei rang out the old British year. A tone of optimism is struck in the New Year references in the newspapers. Messages from trade and commercial organisations all agree that the coal trade situ; lion is the chief cause of anxiety, but it is hoped that with the improved Euro pean o itlook the worst is over. A Nfew Y >ar message in regard to Empire development has been issued by Sir R. A. Hudson, chairman of the newiyelecf.ed Empire Industries Association, Mr. Ben Morgan, chairman of the British Empiro Producers' Organisation, and other heading industrialists. The message says lhafc in view of the general attitude i of thi country toward , Empire problems, efforts for international pacification and advances in Imperial preference, the prospects for J926 justify a hope for a considerable improvement On the conditions obtaining during 1925. It, however, the message continues, would bo foolish to imagine that unernploymea!, can be reduced to negligiblo proportions or that the standard of liviing of the British people and the security of their iil-erests can be raised, or even niaintaiuod, unless the nation is prepared tc pursue a more definite policy in regard to several questions of importance. The rciestior.B referred to are Empire develop] 'umt by means of trade preference. Empire icttlement and Imperial loans, and also a t o'dor policy in regard to guaranteeing essential industries against unfair competition, monopolistic foreign trusts, and swen,trtd labour. OUTLOOK IN AMERICA. CONFIDENCE OF BANKERS!. CONTINUANCE OF PROSPERITY. Times. LONDON. Doc. HO The Ksv York correspond exit of the Times ssvysi that American bankers, industrials Ls, and trade leaders express a quiet confidence regarding the business outlook :lor 1926. There is a consensus of opinion that the present prosperity will continue UDdiminished until at least the middle ot the year. A!thou:;h speculation in building and real e3talo is likely to decline, bankers agree thi,t :he necessity for stringency in credits is; r.ot yet in sight.