WAR RISK RATES DOWN

Nelson Evening Mail, Volume LXXIII, 10 May 1939, Page 2

WAR RISK RATES DOWN

BIG REDUCTION ON MEDITERRANEAN CARGOES BRIGHTER VIEW OF WORLD SITUATION [U P A —By Electric Telegraph—Copyright! LONDON, 9th May. A big reduction in war risk insurance rates for shipping were announced last night. The additional premium for voyages through the Mediterranean and the Baltic has been cut from £1 per cent, to 12s 6d and basic rates to many countries have been reduced 2s 6d or more. Meanwhile confidence was maintained in the stock markets with an in- ; crease of business. The good unemploy- ! ment figures have stimulated public j buying while the city takes a brighter i view of the international situation. Oils and mines show the best improvement. The Imperial Economic Committee report that the world wool consumption fell steeply in 1938 compared with the three previous years. The smaller American and Japanese consumption was more than offset by increased purchases from Germany by trade agreements. The development of television will no doubt produce striking results in the comparatively near future ana maj' well be comparable with the invention of printing in its influence on mankind. Mr H. White, chairman of Marconis. declared at the annual meeting that the sale of receivers was so striking that manufacturers were already preparing for mass production.