FALL IN CABLE SHARES

Taranaki Daily News, 27 May 1933, Page 7

FALL IN CABLE SHARES

UNCERTAINTY OF DIVIDEND. CONFIDENCE IN THE FUTURE. By Telegraph—Press Assn.—Copyright London, May 25. Cables and wireless stock fell heavily to-day, the total decline in the three classes of stock amounting to nearly £2,500,000. This followed a statement by the chairman, Mr. Denison Pender, at a meeting that unless there was a very substantial improvement in world trade and telegraphic traffic the directors could not commit themselves to make any statement regarding further dividends until the accounts of 1933 were completed. It would be impossible to pay a dividend in September, but the directors were confident regarding the future, having laid foundations which would give full benefit when the world improvement came. PROTEST AT INCREASED RATE. ACTION TAKEN BY CHAMBER. By Telegraph—Press Association. Wellington, May 26. The endeavour to have reductions effected in the charges for cables under the recently issued international regulations was the subject of a report at a meeting to-day of the executive of the Associated Chamber of Commerce. The secretary said the association had forwarded a remit for the congress in London of the Federated Chambers of the British Empire deprecating the untimely increase in the rates. If the congress adopted the remit representations could then be made to the international chamber. The action taken was approved.