PRICE OF CEMENT.

Press, Volume LXVI, Issue 19970, 3 July 1930, Page 10

PRICE OF CEMENT.

LOCAL BODIES' RESOLUTION. (KtBSS A,SBOCI±TIOJf TULEGBAJC*) WELLINGTON, July 9. At the conference of the New Zealand Counties' Association, a Raglan remit waa moved as follows: —"That the Government be urged to make an enquiry with a view of reducing the cost oI cement manufactured in New Zealand, of which a large amount is now used by local bodies for the tion of roads and bridges, and if" is found that the selling price cannot be reduced, that the Government remove the duty on all imposed cement The remit was moved by Mr C. John, stone, of Whatawhata. "It affects practically every local body that is represented he r e to-day, he said, day there is a duty of £1 per ton on imported cement, and if that were remitted it would make a lot of difWebb (Whangarei) opposed the motion. He said that a tion of 10s per ton was available to local bodies toy cement used on local "It'Ttibe first I've heard of it." said * Mr Webb continued, "that it would do a great industry a good deal of harm if we passed a resolution of this tvpo." - i "Some of the cement companies shares, are selling at £2 and more, was the comment of another nelegat . "That's a fairlv eood guide to cut tto rites +bey are emng .'". he added. "Tf the dnty on imported cement were reduced our own P ro would come down tn price, too. I hey have got a cood monopoly. After further discussionthe chairman im A E Jnm said he did not .like the idea of suggesting that the dut-r should bp removed. He asKea the mover whether he would ™? ent . £ allowing the remit to end with tne word "bridges" but the motion was evpiituallv carried. INCREASED DUTIES PROPOSED. (Received July 2nd, 9.35 p.m.) SYDNEY, July 2. The Federal Government intends to impose increased duties on imported liquors, cigarettes, tobacco, and special revenue duties on a further wide range of imported goods. AUSTRALIAN BANK OP COMMERCE. There was a buyer of Australian Bank of Commerce shares yesterday at 23s 9d, and no seller (states a Sydney paper of June 24th). It has been suggested in some quarters that the company will reduce its a««i dividend from 7 per cent., to which reduced at the half-year. This opinion can only be guesswork, since the company takes very fine care that its decisions shall not be made publ.c untilthey ... official. Assuming that 7 per cent, tf maintained, then the current market would yield 0 per cent, after taking into account accrued dividend. On the other hand, should the dividend be reduced to 6 per cent., th« the yield would be £5 3s Id per eent. Accounts will be presented in July. OREPUKI SHALE FIELD. A company Is being formed in Dunedin to acquire the rights of the Orepuki shale n P i,i syndicate and to work the deposits. The present bores prove 1,000.000 tons of shale The old company s works were closed about 28 years ago, chiefly because of the withdrawal of the Government bounty and the comparative Inefficiency of the plant. NEW INVESTMENT TRUST. An investment trust company with an authorised capital of £150.000 is in, process of formation in. Wellington, and will bear the name of a well-known business man. The provisional board of directors will also be Wellington business men. DALGETY AND COMPANY. LONDON. July 1. Dalgety and Company's shares. £9 10#; 4 per eent. debenture stock, £63 10s.