NOTE OF OPTIMISM.

New Zealand Herald, Volume LXV, Issue 20137, 24 December 1928, Page 10

NOTE OF OPTIMISM.

NEW ZEALAND TRADE.

BETTER SPIRIT IN BUSINESS.

YEAR'S OPERATIONS REVIEWED

[BY TELEUR.U'H. — OWN CORRESPONDENT. ] DUNEDIN, Sundny.

The president of the New Zealand Manufacturers' Federation, Mr. J. Sutherland Ross, who is also president of the Otago Manufacturers' Association, in referring to the business affairs of New Zealand, said there was undoubtedly a better spirit in business than was the case a year ago. This was largely owing to the fact that two good years on the land had put the farmer in a much stronger position, and while he was rightly cautious in spend ing his money to-day, the present season, if it kept up its early promise, would enable him to launch out a little and circulate his cash through channels which would benefit tho community.

The motor-car had a great influcnco on the general trade to-day, as with ono car to every 12 persons in the Dominion, an onornious amount of money went out of tho country money which, in earlier years, was distributed among tho shops of all kinds This, too, was a factor which militated against tho Dominion manufac liner, as the withdrawal of money from local circulation meant a reduced output and, too frequently, additional recruits to (ho ranks of the unemployed. The cash-on-dclivcry system was a growing menace to both wholesaler and rotailer, who resented the public services being utilised to their detriment in this way by overseas competitors.

The past year had been a highly competitive one in practically all branches of trade. The boot industry in particular had felt the strain heavily, owing in part to the vagaries of feminine fashions, which turned a profitable line of ono week into bad stock the next. The clothing manufacturers were again faced with tho importation of largo quantities of the cheapest type of garments, against which it was impossible to compete, even if it were desirable.

The woollen mills had had a year without violent fluctuations in pikes of raw material, and from the published figures the commodity had proved satisfactory to lioth grower and manufacturer, although the mild winter had been the means of leaving considerable stocks with the retailers during the summer months. Speaking generally, ;i number of industries were working full time with good orders booked ahead, but many others were not so favourably placed. The purchasing power of the Dominion had steadily improved, but while it must be remembered thai the bank movements were necessarily slower than those of (he export > and imports, .Mr. Hons said he considered the figures formed a definite basis for hope of greatly improved trade during I in- coming year.