CEMENT SHORTAGE

Evening Post, Volume CXXXIX, Issue 148, 25 June 1945, Page 6

CEMENT SHORTAGE

LACK OF COAL FOR WORKS P.A. AUCKLAND, June 23. The- statement that building firms might be forced to suspend activities, thus threatening the employment of more than 3000 operatives in the industry, as well as allied trades, till such time as regular supplies of cement were available, was made1 by Mr. A. Steven, president of the Auckland Master Builders' Association, today. He • mentioned that members of his association had asked the Mayor (Mr. Al- : lum) to convene a meeting of representatives of the affected interests on Monday next. . • ''The position is such that it demands the most urgent attention of the Government to ensure that supplies of coal are available for cement manufacturing," he said. An official at the build-, ing controller's office, added Mr. Steven, had stated that State house construction would, virtually cease for: an indefinite period. Home-seekers, including returned men. could give up all hope of securing accommodation for some time unless immediate drastic action were taken to improve the coal position. ' •- • WALKER AND HALL, LTD. The accounts of Walker and Hall (N.Z.), Ltd., show a net profit of £1198 for the year ended April 30, against £ 944 :in 1944, when the year's .result was augmented by a profit of £556 realised from the sale of war loan. The directors propose an unchanged dividend of 4 per cent., absorbing £1198, and leaving £3208 to be carried forward, a reduction of £82. The report states that owing to the lifting of restrictions by the British Government Board of Trade upon non-ferrous metals the company expects shortly to receive relief in the export of certain classes of blanks from Sheffield for assembly in its factory. REPAYMENT OF LOAN DUE. The Government has requested the Reserve Bank to give notice of repayment at maturity to all holders of 3 per cent, stock and stock certificates maturing on July 15, 1945. The amount of loan due for redemption is £2,144,910, all of which is domiciled in the Dominion, and, on which the annual interest . charge is £64,348. The loan is part of the -National Development issue placed on the market on January 4, 1941. Two issues were concerned —3 per. cent, stock issued at par, repayable July. 15, 1945, and 3% per cent, stock issued at £97 5s per cent, repayable in 1956-59. The prospectus did not state the. amount of loan required, nor was any period for application stipulated. . The purposes of the loan was to provide capital for national development works, including railway construction and hydro-electric; land and forest development, as well as hovis--ing, roads, essential public buildings, and telephone, and telegraph extensions. Little sympathy was shown in the market at the time ;_. with the purposes of the issue. The short-term issue was the least successful and was with- 7 drawn eventually on Jtay 14, 1941, while they,: 3% per cent, issue remained available until • July, when, owing to a falling tendency/in-gilt-edged interest yields, it began to attract a; } largely increased flow of investment funds. The ? latest accounts show that £6,275,680 was in- :> vested in the 3% per cent, issue, which matures, finally on January 1, 1959, arid is ■ repayable ~ at the option of the Government at par at any.; time on or after January 15. 1956, -on : three ',' months' notice/ . : ; :i-'i 'i. Luftwaffe Records.—Allied securfty/ officers hav^ discovered near Berchr tesgaden a complete set of the: Luft- : : waffe's aerial reconnaissance ■ ■•- for nearly ; the whole war, :states ;an agency correspondent. They^ were buried in a salt well' near J. a^-lpnely alpine, farmhouse. S^v-iC; ; W-;y Hungarian Treasure. —^Hun^arian:; ; treasure valued i atV;£ 15,00Q,000,van^ ■ eluding the Hungarian crown-and!;the ; :; right hand of ,St..fiStephen^^|w}ixcltfeis;-:: 1000 years old, ;^s vfoundivnear|rSalz«i: y [ibur&'-'acqord^V^^^