Quicker Air Mails

Waikato Times, Volume 116, Issue 19456, 21 December 1934, Page 7

Quicker Air Mails

DEVELOPMENT SCHEME. SERVICE TO AUSTRALIA. MINISTERIAL STATEMENT. (Omclal Wireless.) (Received Dec. 21, 12.30 p.m.) RU'GBY, Dec. 20. In the Ho,use of Commons, Sir Philip Sassoon, Under-Secretary of State for Ah’, outlining a scheme for tlie development of Imperial air communications, said the main , features were: — 1. A faster schedule; 2. More frequent services; 3. All first-class mail matter to the Empire carried by air.

FLEET OF FLYING BOATS.

NON-STOP TO CANADA

(Received Dec. 21, 12.45 p.m.) LONDON, Dec. 20

The Daily Herald says that three of Britain’s leading constructors have started preliminary work in building the first fleet of Trans-Atlantic flying boats capable of flying to Canada nonstop, and carrying loads sufficiently great to make the ocean service a paying proposition. It will carry first mails, arid then passengers.

EXPANSION PROPOSALS.

AN ; EMPIRE ROUTE

GIBRALTAR A CENTRE.

(Received Dec. 21, 12.45 p.m.) LONDON, Dec. 20

The Evening Standard says the Empire is on the eve of the greatest airway expansion plan in history. Imperial Airways intend to abandon the present trans-European route using instead great flying boats via Gibraltar, Malta, Alexandria, and Persian Golf to India, thus avoiding alien territory.

Gibraltar will become an air centre of first importance as the junction of the Far East, the Cape and South America.

THE RESERVE BANK.

NOTE ISSUE INCREASES. THE LATEST RETURNS. WELLINGTON, Thursday. .The Reserve Bank return for the week ended December 17 was gazetted ■to-night. The .statement is balanced at £28,300,943 or £2736 less than last week. The note issue has inreaseidi by £151,733, compared with the level of the previous week. Government deposits are lower by £203,262 and those of the trade banks have increased by £46,853. « On the assets side sterling exhange shows a decrease of £217,530, while investments have increased by £219,225.

Proportion of reserve to notes an'cii other demand liabilities, 08-39 percent (90.J8 'last week).

For the 'Ill'st itime since the bank began, the proportion of 'the reserve to the notes and other demand liabilities is below 99 per rent., ■last Monday being 98.39. the level The statement with variations bompared with the week before lows: — is as folLIABILITIES. Variation. 1. Capital £500,000 Same 2. Gen. reserve . 1,000,000 Same 3. Bank notes .. 0,707,43 1 4. Demand liabilities — 1 5 1,7331 (a) State .. 7,00 1,750 203,202* (b) Banks ... 0,953,4 1 5 4 0,85 31 ' <o) Other .. / 4,983 1,073*’ 7. Other liabilities 43,358 3,0 1 3 f Total £28,300,043 2,730* ASSETS. S. Reserve — (a) Gold ... £3,00 1,73 1 Same (b) Storl. ex. 23,320,571 217,530* 0. Snb. coin .. 94,83 1 2,568* 12. Investment .. 1,847,450 2 10,2 2 51 14. Ollier assets .. 30,300 1,803* Total £28,300,943 £,730 t Higher. * Lower