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Grey River Argus, 22 August 1934, Page 8

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(Per Press Association.) AUCKLAND, August 21. Sales: Goldfields Dredge Is 4d; Malaki 2s 8d; Consolidated Brick 8s 6d; Commercial Bank 15s 7d; Mt. Lyell 20s 9d; Gas 25s sd; Waihi 31s 9d; Blackwater 335; Zinc pref. 355; Bank of New Zealand 475; Farmers’ Auctioneering 755; South British 82s fid; Reserve Bank £6 8s 6d; Stocks, 1940 £lOB, 1955 £llO 10s. CHRISTCHURCH, August 21. Sales on ’Change: Govt. 4 per cent, inscribed, 1946, £107; Commercial Bank of Australia 15s 8d (2), 15s 7d; Bank of New Zealand 47s (2) ■ Reserve Bank £6 8s; New Zealand Guarantee Corporation 4s 7d; Kaiapoi Woollens (17s paid) 13s, 13s Id (2), 13s; Christchurch Gas (10s paid) 15s 3d (3); New Zealand Breweries 44s lid; Dunlop Rubber 18s 9d; Quill Morris (in liquidation) 2s Bd, 2s 9d (2); Brian Boru Is 3d; Glenroy Is 2d; Goldfields Dredging Is 3d (3); Mahakipawa lOld; Worksop Extended Is 8d (5). Reported: Kaiapoi Woollens (17s paid) 13s 2d.

DUNEDIN, August 21. Sales; New Zealand Breweries £2 4s 8d; Waihi £1 12s. LONDON, August 20. Gold 138 s 3d; dollar 508 5-8; franc 76 5-16.

Wool Trade GERMANY EUYS PROM TURKEY. (Aus. & N.Z. Cable Assn.) BERLIN. August 20. The German-Turkish compensation agreement is severely hitting the Bradford wool trade. Germany is now buying mostly from Turkey instead of Bradford. She imported over 150 J bales of Turkish woo’, in June an i July. The agreement enables Germair.io purchase wool with German wares. LONDON,, August 20. At Bradford, the ! :e was a fair amount of covering business in fine tops, many awaiting reports from Brisbane. WORLD WHEAT SURPLUS. PROBLEM OF HANDLING IT. RUGBY, August 20. At to-day’s meeting of the Wheat Advisory Oomtnittee, the French delegate outlined the steps to be taken. in France to cope with the who.it surplus -problem. He. expressed the confident hope that, by the continuing of the measures which had greatly reduced the percentage of flour mi' 5 ed from wheat, and by denaturing, a large quantity would be diverted *o animal consumption, and the greater part of the surp’us stocks dispose.! rf. The French Government attached the utmost importance to the effective maintenance of the wheat agreement and the success of the French plans to absorb the bulk of her surplus was dependent upon the adherence of exi porting countries to an effective sysi tem of export quotas. He urged the subdivision of crop year quotas into quarterly periods, and the setting aside of a certain percentage of the estimate of the world demand, as a reserve. The allocation thereof shoni 1 rema n in the hands of the Wheat Advisory Committee. These proposals were generally supported. and the Committee set up a drafting sub-committee to bring to gt'ther all the genera’ly accepted proposals before the Committee. The sub-committ.ee will report to-morrow. RUGBY. August 20. The recovery in Britain’s trade an.l the increase in employment were referred to during a week-end speech bv Mr Runc’man. Tie said that the sixpence i n the pound knocked off the income tax was due to careful management of the country’s finances. He hoped that as time proceeded a little more might be taken off, to makeup for the conversion of war loan hoardings info cheaper national seyuritv. The explanation of the recovery of British industry and commerce was the eheapen : ng of capital, ‘which was now on a mono economic basis than during any period since the Armistice. RUGBY, August 18. Returns of passenger traffic at Ply mouth show that the diminution in American tourist business, which had been proceeding steadily from 1930 until the end of last yean has ceased Already this year the number of nonBritish passengers disembarking nt Plymouth exceeded the total for the whole, of year. Arrivals at Plvmouth afford a useful index to the fluctuations in American four's! tra*’’ fie since 90 per cent, of non-Britisb

arrivals there come from the United States and South America. The favourable returns for the present summer. in some quarters, are regarded as an indication the depression in Amer’ca has now ceased to affect the tourist traffic.