Western Star WALLACE COUNTY GAZETTE. TUESDAY, DECEMBER 18 1928 BRIGHT BUSINESS PROSPECTS.

Western Star, 18 December 1928, Page 2

Western Star WALLACE COUNTY GAZETTE. TUESDAY, DECEMBER 18 1928 BRIGHT BUSINESS PROSPECTS.

The State Statistician’s monthly Abstract of Statistics makes interesting reading providing, as it does, at a glance information which .shows whether the country is .progressing or retrogressing. And it is most gratifying to say that the November number shows that the Dominion is progressing. The production of butter and cheese for the current season, as indicated by the grading figures, continues to. outstrip all previous seasons. Butter and cheese gradings for October were 8.6 ,per cent and 23.9 per cent respectively above the corresponding period in 1927, while the cumulative figures for the three months of the present season show increases of 10.7 per cent, and 28.2 per cent, respectively over last year. October marks the end of the season for the frozen meat trade, and completes the figures for the twelvemonths. The quantities of frozen lamb and beef for the period show increases of 8.0 per cent and 83.3 per cent, respectively over the figures for the preceding season, but mutton shows a decline of 6.2 per cent. The better prices ruling during the season for lamb and beef are reflected in the aggregate values recorded for these .products. The aggregate return on the exports of frozen lamb for the twelve months ended October, 1928, showed an increase of 12.4 per cent., while beef showed an advance of 100.4 pei- cent. Mutton prices apparently did not vary from, those recorded for the previous season, as the relative decrease in the aggregate value for this commodity was the same as that for the quantity, namely, 6.2 per cent. The visible balance of trade in favour of the Dominion for the ten months shows £11,730,347, against £‘2.987.721 for the same period twelve months ago. The Dominion has not only ‘turned the corner,’ but is well round it. An even brighter outlook is reflected from the figures for the last two years which ended in October. Exports are now approximately £10,000,000 above last year, while imports are about £500,000 down. The position is most satisfactory. As to finance, there is evidence of ample funds to provide increased purchasing power. Evidence of increased spending power is to be had in the figures of mortgages discharged. These showed unusual activity in October. The wholesale price level is one of the most significant of the business indices at present available, and the general wholesale price index shows a substantial rise which is, of course, reflected in the retail price, there being an increase of 18 points in the retail price index for the three food groups as compared with the position in the previous month. An upward swing in the general price level, the continuance of a. favourable visible balance in the overseas trade, and a plentiful supply of funds in the banks as evidenced by the ratio of advances to deposits arc factors which indicate that in the normal course of events the volume of business will increase in the not distant future. The number of bankruptcies appears to he declining, hut the up em-

ploymont situation, although improved since September, is still more unsatisfactory than in October of last year. Gratifying as the export of primary produce is steps are being taken to further advertise mutton and, lamb in Great Britain. The Meat Board has made arrangements for the printing and distribution in Great Britain of 2,000,000 booklets giving a resume of sheep farming in the Dominion, and pointing out the qualities of New Zealand mutton and lamb. Printed in three colours, and abundantly illustrated, the booklet not only points out the prime condition of New Zealand meat, but contains also some hints on buying and cooking, useful recipes being given a prominent position in the publication. The front cover design is a sheep with a map of New Zealand, with the words ‘New Zealand Meat’ in large letters, while ‘An allBritish product,’ ‘The best in the world,’ and ‘Buy British’ are also prominent captions.