COMMERCIAL.

New Zealand Herald, Volume LIX, Issue 17985, 10 January 1922, Page 3

COMMERCIAL.

THE LONDON MARKETS. Australian and N.Z. Cable Association. (Kecd. K. 5 p.m.) LONDON, Jan. 7. FROZEN MEAT. Sheep.—Canterbury, light 6ld. medium 6Jd. h'oavy Bid: Southland. 61d: North Island Sid and s|d; New Zealand ewes, 4id: Australian, units isd. seoonda 4}d: ewes not offering i South American, litrht fiid, heavy 6d: ewos not oft'erine: Patagonian, light 6}d, heavy 4ld; ewes, 4Jd. Lambs.—Canterbury, light BJd, medium BJd. heavy lid. seconds 7id: Southland. 7fd; North Island, selected 7ld, ordinary 7td: Australian, best 7|d. fail 71d, inferior 7d. Frozen Beef.—New Zealand, old" fores BM. hinds 4id : new, nominal, fores Sid. hinds 4Jd: Australian, old crops Sid. hind» 4id; new. nominal. croDs 3}d. hinds 4ia: Argentine fores Sid. hinds 6d: Urueuay. nominal, fores 3id, hinds 4Sd< Chilled Beef.—Argentine,' fores Sid, hinds 7Jd: Uruguay, no.t offering. HEMP, COPRA. RUBBER. ETC. (Last week's prices in parentheses.) Cotton.-February delivery, 10.86 d (11.89 d). Rubber.—Para le lid (Is lid), plantation lOld (Hid), smoked lOid (Hid). Eemp.—January-March shipments. £87 10s (£37 10s). Jute—January-February shipments. £27 (£25 10s). Copra.—February-April shipments', £24 Bs (£25). Linseed Oil.—£3o (£2B 10s). Turpentine.-£3 lis 6d (£3 8s 3d).

DOUBLE INCOME TAX. NEW ZEALAND'S POSITION. Addressing the annual meeting of Dalgety and Company, Ltd.. the chairman, Mr. Edmund Parker, said:—The lower cost of taxation is unfortunately merely the natural result of Kc'aiced profite. but it k satisfactory to be able to report under tL« head that we anticipate mahnj a eubstauifal recovery or account of our paet paTiaents for exoess profits duty. Tbe incoverable is sufficient to appreciably affect our revenuo for the current year. With regard to the lonz-standing grievance of double taxation within tbe Empire, as to which the British Government were at length induced to make a fair concession, I am pleased to be able to report that the Australian Commonwealth Government have announced their intention of adopting the soheme of reciprocity recommended by the Sub-Committee of the British Royal Commission on Income Tax, for the elimination of double taxation within tho Emp're. On the other hand, the Now Zealand Government, usually the first to respond to olaime of Imperial concern, have, so far, not seen their way to cooperate in this desirable movement.