IMPERIAL TOBACCO.

New Zealand Herald, Volume LXVI, Issue 20162, 24 January 1929, Page 9

IMPERIAL TOBACCO.

DIVIDEND OF 26 PER CENT.

SHARES RISE IN PRICE.

Australian and N.Z. Press Association. LONDON. J«n. 2-2.

There was a sensational rise in the Imperial Tobacco Company's £1 shares from £6 7s to £6 lCs, after the announcement of a dividend of 26 per cent., and of the distribution of one free share for; every four held. On to-day's market price the company's ordinary capital is now worth over £200,000,000.

THE POTATO MARKET.

SCARCITY IN AUSTRALIA.

HIGH PRICES IN SYDNEY.

[FROM OUR OWN CORRESPONDENT. ] SYDNEY, Jan. 1G

Practically all the potatoes consumed in Sydney come from the north-west coast of Tasmania and Victoria. Because the Tasinantan potato grower and lii§, potato „

diggers have been taking their annual holidays Sydney housewives; find that the sixpence which usualjy provided potatoes for two meals now purchases scarcely sufficient for one helping all round for a family of- throe. Potatoes have been selling at up to £25 a ton, which is an abnormally high price. Yesterday the price dropped to £2O. Four weeks ago the best potatoes could be bought for.£l3. Apart from the holiday question the unusually dry weather also is a factor, and the total output for the present season is estimated at 77,000 tons instead of 138.837 tons gathered last season. .Fortunately it requires no very great selfdenial these hot days to remove potatoes from the menu.

Normally, the high prices ruling locally would attract supplies from New. Zealand, ns even the freight and duty would not prevent profitable sale locally. The deterrent is th'j Commonwealth embargo on the importation of New Zealand potatoes for food purposes, which has been in force since February 15, 1927.

The Government was urged to act principally by Victorian growers on the plea that the New Zealand potatoes were likely to spread disease among local crops. In isolated instances the potatoes were found to be affected by powdery scab, and the Government ostensibly took action on the ground of the possible infection of locally-grown crops. With New Zealand potatoes out of the way Tasmanian and Victorian growers are able to reap higher prices in Sydney. New Tasmanian Brownells should be available a month hence, and prices next month should be much more reasonable. Hates, however, throughout the year will be higher than in 1928.