FINANCIAL BAROMETER

New Zealand Herald, Volume LXXII, Issue 22018, 26 January 1935, Page 15

FINANCIAL BAROMETER

SYDNEY'S HOPEFULNESS PROSPECTS FOR NEW YEAR "Tbe financial drought is broken, so it is said in those .quarters where shrewd men have their fingers on the pulse of the city and regularly observe all the conditions to which that pulse reacts," says the Sydney correspondent of the Melbourne Argus. Property values aro increasing, there are few shops to let, where before there were many, and although Sydney is overbuilt in offices*, there is constant inquiry for this accommodation. These facts, together with the outstanding fact that the shopping during the Christmas season and for some time before was more than good, are accepted as justifying expressions of confidence. The correspondent adds:—"lt is believed that prices of the principal pastoral and agricultural products will not go lower, ' but that they must rise. Mining is expected to initke work for many, and to turn an ever-increasing stream of wealth into the city. Optimists who slipped back to the city to have a final look at their books before they had to think of writing '1935' without a mistake speak of all this and much more. They know that Australia's output of gold will be largely increased, and that riches from New Guinea will assist to extend activities within the Commonwealth. x "And take it from me," said one, "1935 will see Australia's most significant step forward, namely, the comriiercial exploitation of oil deposits." .