NEW ZEALAND PRODUCE

Bay of Plenty Times, Volume LXV, Issue 12256, 20 February 1937, Page 3

NEW ZEALAND PRODUCE

ENGLISH ACT . SIGNED BY MR WALTER NASH THREE YEAR TERM London, Feb. IS. Responding to the toast of Imperial Trade at the AA'arrant Holders’ dinner, Mr AValter Nash, New Zealand Finance Minister, disclosed that he had signed a contract on behalf of New Zealand producers with British shipping companies to whom i'4,000,000 would be paid on account of New Zealand’s trade. Such arrangements depended on reciprocity and co-operation in the fullest sense.

Elaborating Mr Nash’s statement, the New Zealand Office informed the Australian Associated Press that Mr Nash signed a contract for three years at a 2 A per cent, increase on freight rates, estimated to cost £3,600,000 a year. It involved a tonnage basis for transport of refrigerated foodstuffs in British ships. This was apart from freight payments for wool and other non-refri-gerablo cargoes. Mr Nash emphasised that in the period from 1932 to 193 G four Dominions increased the value of their purchases from Britain by £4 7,000,000, while the increase of the whole of North Europe was only £17,000,000.

Tho Minister visited the Ariel works, Birmingham, where he formerly was office hoy and rose to lie chief of the costing department. He talked with old employees and later was tho guest of the Birmingham Chamber of Commerce at a private dinner.