Actors' Equity And Exchange Slate

Northern Advocate, 24 August 1948, Page 5

Actors' Equity And Exchange Slate

WELLINGTON, Tue. (P.A.)—An intimation that because of the change in the value of the New Zealand pound, the employers must withdraw the tentative offer that' the wages rates provided in the Australian actors’ equity award should apply in the proposed actors’ equity award was made in conciliation council by Mr K. N. Campbell. an assessor for J. C. Williamson, Ltd.

Mr Campbell said they could not yet estimate the effect of the exchange variation. The Minister of Finance (Mr Nashi had said the cost of living would be reduced and in such case the employers held the view that New Zealand wages should not necessarily be the same as Australia. Mr Lloyd Lambie, president of the Actors’ Equity of Australia and a member of the Cicely Courtneidge touring company, who 1 was an employees’ assessor, suggested that the employers should accept the Australian rates subject to any variation the Court of Arbitration might make on account of exchange variation. • It was decided to adjourn consideration of the matter until the other parties cited could state their views or could attend an adjourned meeting. Car Smport’at’iomi WELLINGTON. Tue. (P. A.).—Because of the exhaustion of most present import licences, the .immediate effect on 1948 motor car shipments of the exchange adjustments will be negligible, says the New Zealand office of the Society of Motor Manufacturers of London. * Ultimate results should be favourable, provided additional import licences were granted in accordance with the present healthy market trends' and sterling balance. The British motor industry would greatly appreciate facilities for increased shipments of motor-cars to New Zealand. Business On Change AUCKLAND, Tue. (Sp.).—Movements toward the revaluation of stock exchange securities as a result of the return of thb New Zealand pound to parity with sterling were in evidence in trading on the Auckland Exchange yesterday. Business was confined almost entirely to New Zealand domiciled shares, all of which were moderately marked down on prices ruling before the exchange reduction. The only upward movements registered in the day’s business were in an agency issue, which has not sold on this market since June, and a local utility share. Effect On CeySora AUCKLAND. Tue. (P.A.) Although the change in the New Zealand rate of exchange will have little effect in Ceylon, he believed it long overdue, said Mr A. T. Hunter, assistant general manager of the Bank of Ceylon, on his’ arrival by air from Australia today. He said that if Australia returned to parity with Ceylon the effect on Ceylon would be tremendous, for that country depended on Australia for most necessities, particularly food. While Ceylon continued to receive a good price for tea. it would continue to prosper.