LOCAL AND GENERAL.

Waikato Times, Volume 114, Issue 19100, 10 November 1933, Page 6

LOCAL AND GENERAL.

Sale of Land. —At a sale by auction, conducted by Messrs E. C. Day, Ltd., this morning under the Dating Act, a section of 1 rood 22 perches in Dlmu Street, Maeroa, was sold for £4O.

Trade Aorooment.— A trade agreement between France and Denmark has been signed. It covers a limited number of articles and provides for the exchange of Danish butter for French rails.

Aerial Armada. —A French aerial armada, comprising 30 ordinary military service machines, commanded by General -Vuillerman, left Istres on Wednesday for a 1500-miles’ ight over northern equatorial Africa. The journey will last 45 days.

Reduction In Capital. —At a special meeting of the New Zealand Guarantee Corporation at Wellington to-day the resolution in regard to reduction in' capital, which was carried at a meeting on October 26, was unanimously confirmed.

Hospital Meat —-Meat supplied at the Waikato Hospital for > the three months ended September 30 totalled 29,4691bb, the nett cost of meat consumed being 330. -compared with £277 for the previous quarter. The cost per lb of meat consumed was 3.06 d.

Counoll and Reserve Bank. —The Reserve Bank Bill and the Coinage Bill were received from the House of Representatives by the -Legislative Council yesterday and read a first time. The Hon. R. Masters, Minister of Education, Intimated that the second reading of the Bank Bill would toe taken next Wednesday. The Council adjourned until next Wednesday.

Company Manager Charged.— Charged with stealing a large quantity of equipment, Including electrical apparatus, valued at £845 7s 6d, the property of Charles Kingsley Mills, about October 12, a company manager, George Richard Holton, aged 48, appeared in the Police Court at Auckland yesterday. Accused, who pleaded not guilty, was committed to the Supreme Court for trial.

Catholic Carnival. The competition between the three queens connected with the Hamilton Catholic Carnival Is becoming very keen as the final day approaches. The Sports Queen, Miss I. Kelly, is in the lead, with the Convent Queeq, Miss P. Peaoocke, second. This evening’s entertainment w’lll Include items by the Convent Sohool children.

To Awamutu Dlstrlot High Sohool. —Mr G. S. Clarke presided at the monthly meeting of the Te Awamutu District High School Committee over a full attendance of members. The headmaster reported that the sohool roll number had suffered a serious drop, no fewer than 17 primary pupils having left, while only four new pupils were enrolled. The primary roll stands at 344 and the secondary at 87. The average attendances for October were 322 and 82. The opinion was expressed that on those figures the sohool will lose one teacher next year.

Superannuation Funds.-— -In the Budget speech last evening the Finance Minister stated that the position of the superannuation funds was most unsatisfactory. Facts must be faoed and alterations in rights and conditions were unavoidable. He felt the tremendous responsibility in making alterations other than by oonsent of those who are affected thereby. He had arranged a conference with the various organisations principally concerned, and following this, it was hoped that general agreement would be reached as to action to rehabilitate the funds.

“What Would You Do?”— A wellknown Hastings businessman has hit upon a rather novel way in which to induce his ' clients to pay their accounts, but when he hit upon his plan he probably did not expect the “come-back” which actually came from one of his customers. The businessman’s idea is to put a footnote to his monthly accounts, this reading, “What would you do If I owed this to you?” His humour must have been very strongly touched when one account was sent back, and underneath, the question was a written answer which read, “Call it square.”

Sharland and Company. —A quietly optimistic note was struck by the chairman of directors, Mr A. E. Mabin, at the annual meeting of Sharland and Company, Limited, at Wellington. The year had been one of quiet trading conditions owing to the low purchasing power of the community, which had naturally been reflected in the company’s turnover, said Mr Mabin. The outlook for the future was brighter. “The balance-sheet is absolutely clean,” continued the chairman. “In accordance with the National Expenditure Adjustment Act, the dividend on preference shares for the period under review must stand at 5 per cent, per annum, and the directors consider that a prudent policy on this occasion Is to confine the dividend to ordinary shareholders to the same rate and wipe out the balance of the goodwill account, £2000; also leaving a substantial amount in the carry forward.

Conversion Loans. Referring to the conversion In his Budget speech last evening the Finance Minister stated that satisfaction is felt as to the terms, which are more favourable than for any previous issue during the last 30 years. The return to investors with redemption at quin 1954 is £3 14s 3d per cent, and the cost to the Government, allowing for the redemption of the discount and expense over the period, is approximately £3 17s 5d per cent, The net saving in interest will amount, to approximately £67.000 per annum. The only other loan which the Dominion at present has the right to repay is £4,000.000 4 per cent 1933-43 securities. The possible saving of interest through conversion of these securities is relatively small, but, nevertheless, arrangements will he made at the earliest favourable opportunity to deal with them. In 1935 options to repay accrue in respect of £10.000.000 of debt and In 1930 of £5,800,000.

The selecting of your Knit Silk Underwear at House and Daking Ltd., p-aans Economy; dainty Locknit garm'ents —perfectly cut—obtainable In quality that will ensure the appreciation of t: ose who deslr. the “ finer things”-—And, when you shop at H & D. Etd., there Is no need to mil lay a r=nny for that extra quality— cxt-.« degree of dlstino- , nn char ft- fistic of 11. & n. apparel, rust note these values—each carrying n guarantee of dependability—LockVests and Bloomers—2/11 and •i/r, Locknit. Pyjamas—9/11, 11/6, Locknit Underskirts—6/6, 8/6, 10/6 12/6. In a full selection of shades Inspection will prove that .House and Daking Ltd., is the Store lor supreme vaiUJ.

Gandhi’s Campaign. —Gandhi has j arrived in Nagpur on a tour on behalf of social outcasts. He declared: “ I started this ail-lndia tour in order to remove the curse on untmichability. Either untouchability must go or I shall perish in the attempt."

Trade Agreement Ratified. —The Trade Agreement (New Zealand and Australia) Ratification Bill was put through the remaining stages in the House of Representatives this morning and passed.

Antarctic Expedition. —A wireless message from the captain of the motor-ship Wyatt Earp, which is to carry the Ellsworth expedition to the Antarctic, states that the vessel will reach the Otago Heads about noon to-day. completing the voyage from Norway to New Zealand.

Closer Settlement. The development for settlement of the Ahuriri lagoon, an area of 6500 acres, which was raised 7ft. and made available as the result of the earthquake, has been approved by the Minister of Finance, Rt. Hon. J. G. Coates. Advice has been received at Napier that the Government is willing to provide up to £50,000 for the drainage and settlement of the area on lines set out in a suggested agreement between the Napier Harbour Board and the Unemployment Board. The scheme contemplates the settlement of 300 families on the area, each occupying an area of about 20 acres.