BANKING PROPOSITION.

New Zealand Herald, Volume LXV, Issue 20130, 15 December 1928, Page 11

BANKING PROPOSITION.

CANVASS FOR SUBSCRIBERS.

STOCK EXCHANGE INQUIRIES.

[BV TELEGEAPH. —OWN CORRESPONDENT.] CHRISTCHURCH, Friday. Several residents of Christchurch have been approached recently by share salesmen and havo had plnced beforo them a proposition in connection with tbe flotation of " The Australian and New Zealand Banking Corporation, Limited." It is said that many have applied for sharps even though the prospectus is not to bo pulijished until January, 1929. As the Christchurch Stock ■ Exchange authorities possessed no knowledge of the flotation of The Australian and New Zealand Banking Corporation, Limited, the Stock Exchange authorities of Sydney and Melbourne were communicated with and a reply was received from each exchange that nothing was known of the flotation, and advising caution in dealing with it. A document purporting to represent "the facts and figures" states that " the company will go to registration in New South Wales prior to January 31 next." KAURI GUM INDUSTRY. BETTER TONE IN MARKET. ACTIVITIES OF THE BOARD. A meeting of the Kauri Gum Control Board was held this week, the chairman, Mr. M. H. Wynyard, presiding. The accounts presented indicated a very considerable increase in the turn-over of gum handled for the producers, and there appeared to be a better tone in the market, especially in connection with B2 gradings, l'or which there had been very little demand for some time past. , It was reported tho preliminaries in connection with the gum-cleaning plant had been carried a stage further, and it was anticipated the plant would be ready for operation during the early months of next year. An experimental trial of the proposed process proved quite satisfactory, and tne samples indicated the practicability of tbe plant contemplated, for which the different parts were now under construction. Tho election of one representative for each of the kauri gum districts as producers' representative will take place on February 20 next, nominations, closing on January 11. The ballot will be a postal one by all producers holding renewed licences for 1929.

NEW DEFROSTING PROCESS.

INSPECTION AT BMITHFIELD

Australian and N.Z. Press Association. (Received December 14, 6.45 p.m.), LONDON, Nov. 13,

A number of leading men in Smithfield market inspected the beef from Queensland defrosted by the new process. The general opinion was that the appearance, colour and dryness of the meat were excellent. The process appears to be the most satisfactory yet seen, but the experts say the ultimate decision regarding the success must be left to the retailers. To the present only small lots have been marketed. One butcher made purchases for ihree days running. GREEK LOAN IN LONDON. £4,000,000 SOON SUBSCRIBED. (Received December 14. 7.5 p.m.) British Wireless. LONDON, Dec. 13. The is3ue in London to-day of £4,000,000 of the 6 per cent, sterling bonds of the Greek Government met with a ready response. The' 'subscription lists were closed this morning. LONDON SHEEPSKIN SALE. Dalgety and Co., Ltd., report having received the following caliegram from their London house dated December 13:— Sheepskins sale: The attendance of buyers is good. Competition is fair and general. As compared with the closing rates of last series, Merino crossbred are on an average 5 per cent, to per cent, higher, but medium and coarse crossbred are somewhat neglected. f MELBOURNE PRODUCE. Australian and N.Z. Press Association. MELBOURNE, Dec. 14. The following are to-day's quotations 011 the Melbourne produce market:— Wheat. —4s 8d to 4s Bid. Flour.—£l2 2s 6d to £l2 7s 6d. Bran.—£s 15s. I'ollard. —£6 ss. Oats.—2s lid to 3s. Maize.—4s 4id to 4s 6d. Barley.—English, 4s to 4s 3d.