GENERAL CABLES

Hokitika Guardian, 10 March 1931, Page 5

GENERAL CABLES

AIJSTRALLAN EXCHANGE. I United Press Association—By Electric Telegraph—Copyright.] (Received 12.20 p.m.) LONDON, Ainrch 9. There is again a persistent rumour that Australian exchange will shortly lie reduced by ten per cent., hut Australian Press inquiries reveal little encouragement therefore, it is admitted that at this time of tho year, with the wheat pool selling freely, money accumulates in London. There i« perhaps sufficient recent accumulation to enable Australian banks to repay loans from English banks. This, perhaps. created a more comfortable feeling hut it is decidedly doubtful whether the remaining surplus is sufficient to justify the alternation of exchange. Australian stocks aty firm and dealings in several States two to four pounds in advance.

DOMINION EST'IAI ATES. LONDON, Ala rch 9. Tfc is understood the increases in estimates and presentation to Dominions cabled on .March 7Hi includes ten thousand to Australia, 12 hundred to New Zealand. New Zealand's estimates provide for the appointment of an officer attached to the Premier’s Department with a salary of L'lild. house rent, travelling allowances etc. 1 1-17, presumably it resident of 'Wellington.

WOOI, PRICES. LONDON, March 9. Bradford show firmer quotations protectively higher in anticipation of an advance at London to-morrow. IN THE COAIAIONS. LONDON. Ala rch 9Tho Postmaster-General in the Hons,-, of Commons said that the W iretess telephone calls to Australia averaged twenty-seven weekly and he hoped tln» number would be larger when tho trade improved. He also hoped that in a few months there would he an Anglo-New Zealand service by using the switch from the Australian circuit. Hon. Cl.vncs said that he received many representations for and against legalising raffles and sweepstakes and after consideration of both, he did not believe there was any general demand to justify the appointment of a committee to inquire on the subject.

WHEAT MARKET. LONDON. Ala rob 9. Cargoes prices were raised threepence There is a firm inquiry. Futures: — Buyers did not respond. Parcels are firm and advanced threepence. London April 19/8, June 19/19, Liverpood. March 4/2], May 4/4], July 4/52, October 4/7?.