THE OUTLOOK.

Waikato Times, Volume 118, Issue 19665, 27 August 1935, Page 3

THE OUTLOOK.

returning confidence. A BANKER’S FORECAST. Speaking at the annual meeting of the National Bank of New Zealand, held in London on Jiuly 9, the chairman, Sir Austin E. Harris, said regarding tiie outlook —■ “The past year has again been a very difficult one for bankers, and wc have been hard pul to it to find profitable employment for our funds. The signs of returning confidence became more apparent during the year, and I am pleased to tell you that trade conditions within the Dominion evince a somewhat more healthy tone, so that wc are encouraged to hope that we have seen the worst. However, conditions are still far from normal, and we are not yet out of tiie wood. Any further substantial improvement would ■seem to be largely dependent on a corresponding improvement in oversea prices for New Zealand's primary produce. Wool prices show an encouraging upward tendency, but prices for dairy produce, although somewhat better, leave plenty of scope for further appreciation. The meat problem lias yet to bo solved. “It is not for me to deal with world problems of stabilisation, tariffs and exchange, which arc still as acute as ever. It must, however, be a source of great satisfaction to all of us that Great Britain seems to he emerging from her troubles more rapidly than oilier countries, and any benefits accruing should he reflected in our Dominion trade. A balanced budget, with Hie possibility of llic continuance for some time of satisfactory revenue conditions, encourages us to hope for some relief in Hie dh'celiun of Hie present burdensome luxation. Uur own efforts, as in the past, will be directed towards givingall the assistance and encouragement we can lo our customers, and as conditions tend to improve wc shall hope to sec a greater demand for accommodation. The bank is in a strong and healthy condition, and wc shall he in a position to take full advantage of anv further improvement which may manifest itself, and which I venture to hope i s not i’ ar distant."