The Waikato Independent Incorporating "The Cambridge Gazette." TUESDAY, MAY 16, 1922 EDITORIAL NOTES.

Waikato Independent, Volume XXII, Issue 2546, 16 May 1922, Page 4

The Waikato Independent Incorporating "The Cambridge Gazette." TUESDAY, MAY 16, 1922 EDITORIAL NOTES.

Te Aroha'a Mineral Water,

"The Hot Springs of New Zealand," is the title of a very informative book lately published in London from the pen of Dr A. S. Herbert, sometime N.Z. Government balneologist at Kotorua. In his comprehensive work mention is of course made to Te Aroha mineral waters, which he says are chiefly alkaline, bearing a strong resemblance to those at Vichy, the fashionable and deservedly famous spa in Franco. Te Aroha waters, however, contain a very much larger percentage of sodium bicarbonate,, and rank as one of the strongest, and with the exception of certain American waters, probably the actual strongest alkaline thermal waters in therapeutic use. The presence in Te Aroha water of common salt and of carbonic acid, both of which are stimulants to the gastric mucous membrane, must, says the author, at any rate diminish any inhibitory power that sodium bicarbonate may possess. Te Aroha stands alone among New Zealand's health resorts in respect to alkaline waters, and , its supplies are pre-eminent for drinking purposes.

The Market for Beef.

The dullness of the beef market in London is illustrated by the experience of a small farmer in the Wellington district. He sent Home a small line of beef, obtaining an advance which just covered the cost of killing, freezing and shipping the meat to London. The returns show that after paying the selling charges he is in debt to the extent of £5. The farmer would have been better off probably had he given the cattle away, observes the Dominion. Beef from Denmark and chilled beef from the Argentine are in excess supply, and the latter are said to be losing from 20/ to 30/ per quarter on shipments. The cattle countries cannot stand this loss much longer, and must turn to something else. Will they go in for dairying? This is a question that is causing some people some hard thinking. The butchers are getting beef at 20/ per 1001 b wholesale, or loss than 2}d per lb, but the retail prices are still high.

Interest on Overdrafts.

It will be remembered that a day or so ago a New Zealand firm with a branch in Wanganui had occasion to approach its bankers with a view to getting a reduction of interest on its overdraft, but the bank could hold out no better promise than seven per cent. The firm negotiated in London, with the result that its requirements have been met at five per cent. A leading banker, referring to this, remarked that ho had read it with great satisfaction, and that he hoped that many more business people and others indebted to the banks would borrow outside the Dominion'in order to reduce their overdrafts here. He added: "In increasing the overdraft rate to seven per cent, the banks had mainly in view the forcing of customers, who wore in a position to sell assets or to borrow against them, to do so. It now seems that one customer, at any rate, has done this. It is quite possible, in view of the present abundance of money in London, to borrow at five per cent, for short dates against gilt-edged and readily realisable stocks, such as Imperial Government securities. It by no means follows, however, that people can borrow in London at anything like such a low rate as five per cent, against such securities as banks in New Zealand have been obliged to accept in order to help their customers through the present financial stringency in the Dominion. In fact, there are many customers to whom the banks have rendered assistance, who could not borrow money in London even at 10 per cent."