TRADE IN AUCKLAND

Otago Daily Times, Issue 18735, 13 December 1922, Page 6

TRADE IN AUCKLAND

A HOPEFUL OUTLOOK. MONEY MORE PLENTIFUL. A BRIGHTER STORY TO TELL. (Fboh Oub Own Correspondent.) AUCKLAND, December 12. Christmas buying has begun in earnest, and already there are indications that the trade of the month is likely to show a marked improvement upon the returns of last December, which in view of the serious slump through the low prices of produce and heavy stocks of high-priced goods, were regarded as remarkably good. Inquiries in many quarters more than substantiate the hope that the corner has been well turned. Money is more plentiful, and there are to be found on every hand sure signs of returning confidence in the financial posi lion of the country. The experience of representative traders is not. quite uniform, those handling necessities and goods which have come to be regarded as essential having a brighter story to tell than others. For instance, the drapers are finding trade better and more steady than the hardware merchants, whose returns vary consider ably. Generally speaking, however, merchants of all classes agree that the tone of trade has greatly improved during the last few months. Although there is a marked tendency on the part of the buying public to abstain from anything approaching extravagance, the business barometer is moving steadily upward. A wholesale provision merchant, states that although retail trade was restricted until the beginning of this week by the elections, his returns for November, and for the portion of December that, has passed, are fully 15 per cent, better than those of the corresponding period of lost year. The shipping strike has imposed no serious inconveniences on countrv trade. Provisions of every kind are in full supply. The drapery houses suffered by the disturbance caused by the elections, but they now report business that is better than that experienced at this time last, year, with every indication that, it- will continue strong. The general demand is for useful goods of sound value. Extravagances are loro. Building is proceeding actively in everv suburb, one! a great deal of employment is thereby being provided. Hardware is not overstocked. The heavy supplies bold sons'' time ago have now been disposed of, and cautious importation lias been the rule. Another welcome indirntimi of the movement toward norm"! conditions is tbnt house property is now selling more readilv than for a considerable I one. The Near Eastern war scare put a decided chock upon the properly business, but that, has passed, and more confidence, and incidentally more money, is evident. Buyers and lenders are displaying more optimism in regard to land. The effects of the period of inflation and slump will be felt for many a day. but evidence of the improved outlook is to be found in inquiries now being received by agents for sheep country. Tn regard to dairying land, many holders and mortgagees are far from hannv about their position, but generally sneaking there is much more stability. Tu some cases holders have made satisfactory arrangements with the mortgagees. Tlie policy of cutting losses has contributed to this belter state of affairs. The heavy burdens placed on most dairv farms, and the desire of occupiers to sell nut without much loss, have placed strict limitations upon transactions in dairying land. 'lllere are plenty of prospective buyers, but they arc always rant ions. and ,T-e not often ready to do business at the terms offered. There are instances, however. where farms are on the market at prices 40 per cent, tower than those given during the height of the land Iwom.