A HOPEFUL OUTLOOK.
I note that Mr. L. H. Kiek, when addressing the share-. holders of the City and International Trust at the recent annual meeting, took a thoroughly sound but at the same time hopeful view of the general world outlook. It is quite true, of course, that complete recovery of international prosperity is still retarded by international political tension, but Mr. Kiek was justified in pointing out signs of very genuine improvement in economic conditions in more than one direction. The ndustrialised countries of the world, he said, " are resuming exports on an increasing scale to the primary producers, whose purchasing power has rapidly grown under the stimulus of more remunerative prices." And even as regards the political outlook, Mr. Kiek at the conclusion of his address said :
" Now, as always, fear is the most dangerous as it is the most treacherous of counsellors, and we may, I think, derive comfort and assurance from the fact that today, in spite of all you may hear to the contrary, the influence of this country in the councils of the nations is all the greater not only in view of our unceasing efforts for the preservation of European peace, but no less so because we are alert, because we are patient, and because we are resolute and unperturbed."
Mr. Kiek's reference to the general outlook here and abroad followed a thoroughly satisfactory statement with regard to the position of the City and International Trust itself. A. W. K.
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