Annual Report of Chamber of Commerce

Manawatu Times, Volume LIV, Issue 7279, 5 October 1933, Page 3

Annual Report of Chamber of Commerce

PRESIDENT REVIEWS ACTIVITIES In Ms annual report to tire Palmerston North. Chamber of Commerce the president (Mr A. J. Graham) states: - "Taking all things into consideration ■we came through the winter even much better than was anticipated by those who were most optimist-ilk The Dominion is looking better in heart than for acany years, stock of every description is in line condition, and our primary producers have much brighter prospects than has obtained for many months.

"Generally speaking, the business 'outlook in New Zealand ami abroad jnay be asicl to be distinctly promising. Reports from overseas indicate a much improved tone; that unemployment is decreasing and that the volume of trade, both wholesale and retail, shows h greatly improved tendency. ‘ 'To ciuote from a. recent bulletin issued by the Department of Industries aud Commerce: ‘Further evidence of a more cuniident outlook so far as business generally is concerned lies in the improvement, that has taken place in the prices of most classes of stocks and shares in New Zealand and of certain of o ur principal exportable products. Overseas there has also been an improvement in stock and share prices in most of the principal countries. Prices of non-ferrous metals —always an important indicator of business conditions' —have advanced, and, most import of all from New Zealand’s point of view, prices of sonic of our staple exports in the world’s principal markets, particularly wool, have increased. 5 “The definite all-round improvement of industrial conditions in Great Britain is of paramount importance, and should be very encouraging to the people of this Dominion, whose prosperity so much depends upon that of •the Motherland. In conformity with the general tendency among commodities butter prices have risen steadily and’this season’s output should show a greatly increased return to dairy farmers.

‘ 'Although there are yet a number of complex problems to bo settled before we can confidently affirm that the era of low prices has passed and that we are now od the high road to recovery, we can, I think, face the future with greater optimism aud confidence in the firm belief, that, ore long, a marked improvement will be shown in the volume of business transacted throughout the Dominion. This year the response to the Unemployment Board s building subsidy under the No. 10 scheme was much more marked than that of the similar scheme operating last year, and greatly stimulated the building trade which" covers so many branches of industry. "That a sum of £156,918 is U> be spent in this direction in our city will have the effect not only of providing work for the unemployed, but of improving and enlarging the city ifcse A large factory is in course of erection to deal with a branch of the dairy Industry, while the establishment of a bag factory at Fox ton should give a stimulus to the flax industry, a number of mills (closed for several years) having already started operations. During Ihc year the chamber promoted a public meeting in connection with the wood pulp the establishment, of which would opcu up another avenue of industry. During the year the council held nine ordinary and three special meetings. Committees were set up in connection with membership, finance, legislation and. industries and commerce. Many matters affecting our city and district were considered and the necessary action taken to promote the advancement of the commercial and industrial interests of the community. Recommendations were made to the Associated Chambers on various subjects of Dominion interest, including those of exchange, Government interference in business and the establishment of a central bfinkj while .due. .con*

si deration was given to the very difficult problems of unemployment aud currency reform.’