A BRIGHTER PICTURE.

Otago Witness, Issue 3842, 1 November 1927, Page 38

A BRIGHTER PICTURE.

COMMERCIAL OUTLOOK IMPROVES. AUCKLAND, October 27. The brighter commercial outlook in the Dominion and overseas was referred to by Mr E. R. N. Russell at the annual meeting of the South British Insutance Company to-day. “ When we last met,” he said, addressing the shareholders, “ the outlook was clouded bv the coal strike in England and the fighting in China. The former has long since been settled, and . -ports from the Old Country indicate that trade there is showing a material improvement. In China, where our interests are important, fighting continues, although happily with reduced intensity, and to that extent tho position may be said to have improved. The crying need of that country is political and industrial peace without which this most industrious race can neither produce nor consume to its capacity to the great disadvantage of itself and the rest of the world. “ Coming Bearer home, in Australia, the outlook a month ago owing to a prolonged dry spell was very gloomy, but good general rains have brightened the picture. This Dominion is still feeling the effect of the high figures at which land changed hands during the moratorium, figures based not upon the average productivity, but partly upon war prices and partly-upon no better foundation than what other land had been sold at. There are signs that the productive capacity is again becoming the basis of value. Inquiries for farming properties are increasing. and the general outlook is improving.”