SHARE MARKET

Evening Post, Volume CVI, Issue 54, 12 September 1928, Page 13

SHARE MARKET

AUCKLAND, This Day. Sales: Waihi, 12s Id; National Pictures, 12s 6d; Auckland Gas, 23s Id; New Zealand Breweries (deb.), 245. Sales reported: Kaiapoi Woollen (con.), 4s 3d; Taranaki Oil, 8s; Wilson's Cement, 395; National Bank of New Zealand, £7 Is; British Tobacco, 445. CHRISTOHURCH, This Day. Sales on 'Change: Australian Bank of Commerce, 33s MM; Commercial Bank of Australia (pref.), £7 6s (three parcels); National Bank of Australasia (£5 paid), £9 10s Gd (two parcels); Kaiapoi Woollen (7s paid, cum div.),- 4s Id (two parcels); Staples Brewery, 395; British Tobacco, £2 3s 10d; Mount Lyell, 34s 6d; Mahakipawa, lid (two parcels).

I subject closely and reached definite conclusions, explains how the recently j introduced competition of power boards ' with the old-established gas companies has found acceptance with many of the ratepayers. '' Where there is a monopoly, as in the case of supplying the tramways,'' this authority says, '' a full rate is charged, but where the supply of power or heat is furnished to j>rivate consumers, thus entering into competition with gas, the rate is actually less for the few odd units required than it is for the millions of units given to the tramways. This competition with gas is only possible because power boards pay no rates and taxes, whereas durng the last six years the Auckland Gas Company has paid £202,158 under this • heading, and also because a huge revenue is obtained by supplying tho tramways at a price out of all proportion to the rates charged elsewhere." This means, in effect, that while concessions of one kind and another are made to the private users of electricity in Auckland, in order to meet the competition of the Gas Company, a very high charge is made for current supplied to the tramways, with the result that the advantage conceded with one hand is taken away, with.interest, by the other. A SQUABE DEAL. It cannot be too strongly emphasised that the gas companies are asking for no more than that tho concerns competing against them shall be subject to the same charges and the same conditions as they are themselves. As already stated, they are not seeking exemption from legitimate taxation or from necessary provisions in their charter. What they are demanding is a fair field and no favour. At present they obviously are not receiving these essentials in any shape or form. They aro. subject to charges and conditions which are not imposed upon their rivals, and they are compelled to supply information and to give .assurances which are not required from State and municipal concerns, of the same character. They are not pleading that any of the obligations imposed upon themselves shall bo relaxed; they are simply asking, in full consciousness of the justice of their request, that in competition with their rivals they shall be given a "square deal."

Concussion, shock, ajid a lacerated wound over the right eye, were received by H. V. Melvin, who resides at 39a, Eata road, Hataitai, when he foil off a bicycle at Lower Hutt this morning. Ho was attended to by the City Ambulance, and taken to the Hospital.