BUSINESS AND PROSPERITY.

New Zealand Mail, Issue 1775, 14 March 1906, Page 73

BUSINESS AND PROSPERITY.

The effect of inflated land values upon some of the industries of Wellington Avas referred to last Aveek by several speakers at a complimentary gathering of ironmasters. Mr. John Dutliie said probably some firms in Wellington had had their capital increased as much by the increased value of property as by the profits of business. He had noticed statements made regarding another branch of industry, that trade in Wellington Avould receive a considerable check on account of the enormous rates and other burdens people A\ r ere being called upon to bear. It Avas one side of prosperity to see the value of prosperity increasing, and representing so much capital on the books, but practically l'or business purposes it Avats not always an advantage. With increased valuation they had increased rates and burdens, and the progross of prosperity Avould be considerably checked if this Avent much further. In trade and commerce they had to coupet©; Avith outlying places, and if tlfese burdens continued to increase it would be impossible to meet competition and to continue developing. In tlio Old Country they had a striking example of this sort of thing in the case of the engineering Avorks at Poplar, Avliich had to romove to districts Avhere they could work morg cheaply. It seemed to him they Avere setting up a similar state of things in Wellington. It would be impossible by-and-bye to compete in manufactures’ Avith places Avhere they could live so much cheaper. Mr. John P. Luke, speaking on the same subject, said so long as conditions Avere fair and honest, they Avere ready to copo' with them, but certain 'conditions iioav pressing on the engineering trade in Wellington more than in other cities Avere not so. Land was very dear in Wellington, but all industries did not require floor space as engineering did. Mr. Ballinger, for instance, had been able to put up a building of several stories for the ironmongery business, but if the engineers went to the Council, and asked for permission to put up a high building and carry out casting on the top floor by skylight, as they did , in America, ho Avas' afraid the Council Avould not take it very kindly. At the Boldwin Avorks, for example, they had a building of six or seven stories on a large piece of giound, and their moulding shop was right on lop of the Avhole building. The people of Wellington avo uld not appreciate a casting- shop in a four or five story building in, say, Courtenay place. It Avould make a great difference if the Wellington firms could cover the space they noAv had in this way, and devote the Avhole of the top to casting alone. They were fn competition with parts of the colony AvJiere tnere were larger areas of land and unless. they could get some relief m the way of taxation-and rental, it Avouid. be a. very serious affair. They ' could, of course, go-outside the citv, as to V'h do° h hat * B<>ne from Poplar to Clyde, but there was always the aan- , ? going into some aristocratic TT^ii 6 {llat of the Iren would J I th6 Hutt : (Laughter.) They ' require to exercise great eaie as to their surroundings.