BATTLE OF THE PORTS.

Auckland Star, Volume LX, Issue 134, 8 June 1929, Page 4

BATTLE OF THE PORTS.

THE CASE FOR LONDON

GREAT FINANCIAL CENTRE.

(Special to "Star.") DUNEDIN, this day. "Wool can be financed move eaeily and cheaply in London than anywhere else in the world. This is a valuable facility when importers desire to hold their products fur realisation some months later, said Mr. T. K. Toovey (Port of London Authority) in an address. "Nearly ail wool gains in weight on the voyage Home, sometimes as much as 101b per bale, ami this gain in weight often more than L-overa the cost of handling in London. "Multiple shop trading is"inerawj.ii« in the United Kingdom, and large multiple llo p companies have their headquarters .11 London," said Mr. Toovey. In sonic ciieses a single organisation owns thousands of shops for the sale of meat, dairy pro. duce or groceries. Produce is bought outright in London and distributed from that port to branches. In addition to multiple shop organisations there are many large wholesale distributing I^-we ■" >- ' have their headquarters in London. Theee firms also buy produce ouav-." •»» ■•'•,- metropolis, and distribute goods to tueu wholesale depots in various of the country."