CONDITIONS IN SOUTH AMERICA.
As is customary on the occasion of the annual meetings of the Anglo-South American Bank, Mr. Hose gave a very in- structive resume of economic conditions in the countries in which the bank's operations are carried on. With regard to South America in general, the past year, of course, has not been one of special commercial prosperity, but, all the same, some of the developments have been of a satisfactory character. This has been particularly the case as regards banking and financial machinery, the developments having included the adoption of centralized banking systerns in some of the Latin- American countries. These developments, Mr. Hose considers, have done much towards consolidating the bases upon which any future expansion in commercial activity would rest. In short, the leading South Ameiican countries should be in a favourable position to benefit by -any /settlement of European difficulties.
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