TARIFF RECIPROCITY

Otago Daily Times, Issue 18544, 3 May 1922, Page 6

TARIFF RECIPROCITY

MR DOWNIE STEWART’S RETURN. (Pd United Pbbbs Absooiatiok.) AUCKLAND, May 1. The tariff negotiations between New Zealand and Australia were the subject of a statement by the Hon, W. Downie Stewart on his arrival from Sydney. H© oould not make any forecast as to how far the agreement would prove satisfactory to the New Zealand Parliament, or the Australian Parliament. _ It had to be remembered that the previous agreements had failed to secure ratification. The present agreement was. however, on a much more elaborate scale than anything hitherto attempted. Apart altogether from what was decided upon, certain further proposals were made by the Commonwealth Government of >a farreaching nature, which he promised to submit to his colleagues for their consideration. These involved issues which had not been considered before he left New Zealand, and he therefore did not feel warranted in- taking action regarding them. vv till© avoiding any reference to the terms of the proposed, treaty, the Minister said arrangements had been made whereby goods of British origin in transit through either country, or re-exported from, either country, ceased to be,subjected to extreme tariff. It had been intended that this should operate as from May 1. But ho had hot yet heard whether the necessary steps had been taken in Melbourne and Wellington. As to the remainder of the tariff proposals, said the Minister, if the tentative agreement was allowed, it should help to restore th© volume of trad© to something approaching that ruling prior to the recent revision of tariff in both countries. PETROUS TILE SHARES A GOOD PROPOSITION. As will lie seen by an announcement which appears on page 7 of this issue, the Petrous Tile Co., Ltd., Caversham, Dunedin, is issuing 4500 new shares, of £1 each, for the purpose of establishing a manufacturing branch in Wellington. Since its inception, this company has been very successful. Its nett profit last year was thirteen per cent., ' after making adequate allowance for Income Tax, Depreciation, and writing down. As Wellington offers exceptionally attractive prospects for manufacturing and selling Concrete Roofing Tiles, it is expected that profits from the new branch will greatly exceed those earned in Dunedin, with corresponding benefits to the shareholders.' In all respects, the proposition is most promising, and intending investors will do well to make early application for their shares. Copies-of the Prospectus may be obtained from any member of the Dunedin. Christchurch. Wellington, and Invercargill Stock Exchanges, principal branches of the Bank of Australasia, or the Petrous Tile Co., Ltd., Caversham, Dunedin.—Advt.