TARIFF REVISION.

Press, Volume LXIII, Issue 18921, 9 February 1927, Page 10

TARIFF REVISION.

STATEMENTS BY MINISTERS. (PRESS ASSOCIATION TELEGRAM.) DUN'EDIN", February S. At a complimentary dinner tendered tho Hon. Mr Downic Stewart and the Hon. Mr McLcod, by the Manufacturers' Association, both Ministers referred to tariff revision.

Mr McLeod said -that while keeping an open mind he felt that no country which depended for exports almost entirely upon one basic industry could bring about prosperity by the erection of high tariff walls, shortening hours of labour, or fixing wages on any other basis than the value of the producing one. While the great basic exporting industry remained in a depressed condition as to-day there could he no real prosperity for local manufacturers or workers. As a lifelong farmer himself and ono constantly coming into touch with primary producers he had no hesitation in saying that generally speaking farmers did not object, but rather approved moderate protection. What tho farmers felt was that high protection was invariably in these days, made tho vehicle for tho high cost of living, often with high wages erroneously fixed upon a cost of living basis instead '»f Upon a cost of production basis.

Mr Stewart advised manufacturers to move with utmost caution. In spite of what Mr McLcod had said about the farmers being moderately protectionist he was afraid they would eye askuncc any rash move on tho part of manufacturers. Hcnco he advised them to resort to diplomacy rather than to a trial of strength. In reference to northern criticism of the trade treaty with tho Commonwealth he said that figures showed that exports generally had increased, but in tho case of items for which special concessions wcro obtained from Australia the increase was most striking. The total value of these exports rose from an average of £40,110 prior to the agreement, to £284,979 in 1924, £136,732 in 1925, and £418,087 for eleven months In 1926, or £456,095 for tho complete year. The figures for 1926 showed that there had been a decrease in the importation of manufactured goods from Australia approximating £200,000, n decrease of 10 per cent. At another stage of his address Mr McLeod said he was no pessimist, but this country could not go on importing motors, benr.inc, nnd accessories to tho value of £7,000,000.

WOOL SALE. COMMENCING TO-NIGHT. Tho wool sale will commence to-night In tho Caledonian Hnll at 7.30 o'clock, and it is expected that two, possibly i three, of the six catalogues will be ;., Submitted. The sole will be resumed tc- .: morrow morning concluding some time in the afternoon. : CHRISTCHURCH GAS CO. SHAREHOLDERS' ANNUAL . MEETING. / The sixty-third annual meeting of • thareholders of tho Chrlstchurrh Gas, lOoat, and Coke Company, Ltd., was ■ held yesterday afternoon, tho chairman •f directors, Mr Wm. Rcecc, presiding. The chairman moved tho adoption of . the annual report and balanco-shcct, ; summaries of which h.ivo been published.

• The motion was agreed to without - discussion, and the recommendation of the directors—That a dividend of 4 per cent, be paid, making with the in- ; terim dividend already paid, 8 per cent. for the* year, and that the balance of ' £7813 -28 lid bo earried forward—was •greed to. The retiring directors, Messrs Wm. ; JBeeec, Geo. Gould, and F. E. Graham, i'were re-elected.

. WELLINGTON GAS CO. ANNUAL REPORT. t*HB HUJBS Special Service] ' WELLINGTON, February 8. . "A year of steady and substantial progress," was the summing up of the Wellington'Gae Company's annual report to-day by the chairman (Bir Harold Beauchamp), "although, as compared with 1935, profits were

somewhat smaller. This was due to several increases in' the price, of coal, amounting in all ten3a.7d per ton, which, on the year's carbonisation of coal, means an additional impeft to us c! no less than £4OOO, while during, the past four years the price of gas has* been reduced seven times 1 . ■ These con-

cessions total 19d per thousand cubio feet, „ which broadly indicates a saving to consumers of £BB,OOO per annum. Notwithstanding the fact that consumers have benefited to that extent, the Board has not felt justified .in recommending a dividend beyond 9 per cent per annum, at which it has stood since 1920. ."On the manufacture and sale of ga« a farther record was established for the year ended December Slat last. On the sale of |t» appliances 1920 was also a banner year. "We have just entered into a new agreement with our employees for a further period of two years," added Sir Harold Beauchamp. "It is gratifying to report that our relatione with all classes of our workmen continue to be most satisfactory. You will be interested to know that the wages paid by the company for the past financial year amounted to no less than £75,000." Tba chairman also referred to the inauguration in August of the company's superannuation scheme, established for the whole ol the company's employees. So far 15> had.joined, the total life cover being 1109,000. The cost to the company at pre•sent was £2BOO per annum. "I am pleased to say, he added, that IMs scheme is greatly appreciated by our employees, who were consulted through their representatives before it was brought into •feet."

EGG AUCTION. Mt*sr» Harris Bros., Ltd.. report that the Usual weekly auction sale of "Feather Brand" guaranteed fresh eggs was held in their rooms 168 Hereford .street, yesterday aftarnoon. .The following prices were realised:—Hen eggs, first-grade (Sot or over), Is Dd; hen eggs, second-grade (under 2os). l*Bd. • i -7 PRdPBRTY SALE. Following on their auction on Saturday, Jones, McCrottie Co., Ltd., retort having MM on account of. the owner, the property .Situate No. 349 Moorhouse avenue, compris- .. Inf Irootned residence together with 17] 9*reata of UnJ, to Mr Hyd:, for £BOO