TOWN EDITION.

Poverty Bay Herald, Volume XLVII, Issue 15359, 1 November 1920, Page 8

TOWN EDITION.

One of the worst storms known was experienced al Tarewa to-day. A cold southerly was blowing, accompanied by heavy fnlls of hail. I Mr, Noble Lowndes, of the firm of Me vM'.i. F. Lowndes and Son, informs v; th.v it is intended tn Ho at tho firm into a limited liability company. An independent audit, just completed, shows a surplus of assets nf approximately £25.592. and that the profits for last year were £3415. ! The Wanganui Herald states : A fair ■-mount of buying m forward delivery nF lambs has taken place m the district of lato. the buyers, it is stated, be : ng very anxious to get hold of the lambs. Their eagerness ia being taken by many far- | mers to mean, that fat lambs will command high prices, from 26s to 28s being mentioned as the prospective figure. I The Gisborne Tennis Chib opened its 1920-21 tennis season on Saturday after- ' noon, n most enjoyable afternoon being spent on the courts, which m their trim form reflected grent credit upon the com- . mitt re and the club, and also upon the caretaker, Mr Patfison, whose work m the maintenance of the courts was the subject of favorable comment.. Afternoon tea was dispensed by a committee of . ladies. ' No Icfs than three cars were dispatcher! from Gishorne- yoj-terrtay with passenCC"s for Napier by Wilkinson's Motors Ltd- The cars, which included the hitf 112-sea'o.r.l 1 2-sea'o.r. made their connections at Wairoa, nnd Ihe first of the passengers reached Napier at 2. 30 p.m., the others arriving about fi no. Heavy rain was experienced on the hills, and as this con t 1 lined last night, the firm found it necessary to revert to the coaches for to-day's mail. 1 It was at first suggested that between £100.000 and £130.000 would be sufficient to enable Auckland to do full justice to the idea of a war memorial museum, but the eit'zens' committee appointed the other day has come to the conclusion that £200.000 would be necessary before a worthy memorial could be. established. A.s the appeal is to be made all over the Auckland province there should be no difficulty m raising that amount, states the Star. A large pane of plate-glass m the front show window of Messrs. C. Rosie and Co.'s shop, was shattered to pieces about 4 .o'clock on Saturday afternoon. Tlie glass, which was a particularly heavy one. collapsed inside the window case, breaking m all directions.. There was a large number of people about at the time, and although one* of the staff hurried immediately to the spot, no definite information could be gathered as to how tho window came to be broken, the person responsible having disappeared. The plate-glass was covered by insurance. According to advice received from England by last mail, Mr. Frank Lowndes, of Gisborne, has completed arrangements for the flotation, pf an English company to take over from the New Zealand syndicate the patent rights of his life-saving attachment for ships' boats. The i directorate includes Lord Morris. P.O. (chairman), the Duke of Argyle, Lord Knollys. General de Bathe, Colonel iSelby Lowndes, Lord Montagu of Burleigh,'' Mr. W. F. Lowndes, and several others of influence. Mr. Frank Lowndes has been appointed managing director of the English company. Mr. liowndes stated that he was leaving for Venice, and hoped to be back m London m the spring. He may come out during the winter to Japan, Australia, and New Zealand. Mr. Lowndes states that he has secured several valuable agencies, including Canadian refined and crude oil. "The substantial increase notified by the banks as now payable for remitting moreys td England came as another unpleasant surprise for the community," says the Mercantile Gazette. "But was not altogether unexpected by those who have watched the huge imports which have lately been arriving m, the country. _ The money for these has to be remitted through the banks, and the demand comes at a time when very little money is accumulating m London from the sale of our primary industries. Two or three months later, "if the rush" of imports slackens,- and our meat, butter, and cheese get to London, the position should, if no other factors come m, ease again. It must not. however, be overlooked that a erood many loans — Australas'an—.are falling due for payment at L-mdon. within the next, twelve months, wh ; ch, if not renewed, will absorb a large portion of banking credit for their redemption. It is a case of s-'pnlv and demand aga'n, and the present shnrn rise is ind-cati^e of the generally tighten* ng position."