LOCAL AND GENERAL.

Waikato Times, Volume 118, Issue 19648, 7 August 1935, Page 6

LOCAL AND GENERAL.

Coal Bartered for Cotton —The London Daily Telegraph’s Berlin correspondent says Germany Is bartering 70,000 tons of Ruhr coal for Sudan cotton.

National Bank of New Zealand.— An increase ol' about £500,000 in advances and a decline of £2,000,000 in deposits are notable movements shown in the balance-sheet of the National Bank of New Zealand, Limited, as at March 31.

Worksop Extended Gold Dredging. — The following is the official return for the week ended August 3: Yield 260 z.; hours dredged, 88 horn's; yardage dredged, 5450.

Currency in London. —Gold was quoted in London yesterday at £7 0s Old, the dollar at 4.9(5, and the franc at 74|, compared with £7 0s lOd 4.95 7-16, and 74 13-16 respectively the previous day.

Net Profits Increased. —The net profit of the Commercial Banking Company of Sydney, Limited, for the year ended June 30, was £263,937, an increase of £7208. The dividend for the year is unchanged at 5 per cent, requiring £236,951.

Flooding at Te Kultl. —Fairly extensive flooding on the Main South Road about ten miles south of Te Kuiti covered the roadway to a depth of over two feet for the third time this year, and a detour through the Temahare Road was necessary for a spell. The rain ceased abruptly and the swollen Mokau stream quickly subsided.

Prosperity In Australia. —“ There is much less evidence Of unemployment in Australia than in the Dominion,” said Mr J. Lowe, general manager of 'the Auckland Gas Company, on his return by the Marama from an eight months’ visit to the Commonwealth. “ Everywhere I went,” Mr Lowe said, “ there was an apparent air of prosperity.”

New Season’s Butter. —The first of the new season’s butter manufactured in Gisborne will be shipped this week. Some of the old season’s make has yet to go. A very good start has been made with the season, the production being about 50 per cent higher than at the corresponding period last year, owing to better feed conditions.

Chain of milk Bars. —The first of a chain of 500 milk bars throughout Britain is to be opened in Fleet Street, London, in August. The scheme has been planned by Black and White Milk Bars, Limited, formed by Mr Hugh D. Mclntosh, who is general manager. Mr Mclntosh is co-operating with the Milk Marketing Board, and is modelling the bars on Australian lines.

Conditions In Russia.— -The Prime Minister of Tasmania, Mr A. G. Ogilvie, recently stated after a visit to Russia: “I can assure you that very many stories we have read in the press in connection with Russia are utterly untrue. The .system of Government is ni'ost Interesting and the Russian standard of living is distinctly advancing at a very rapid rate.” v

Standard Insurance Company. —The annual report of the Standard Insurance Company, Limited, states that'the income from all sources for the year ended June 30, amounts to £175,792. The surplus op the year’s operations, amounts to £32,556. The directors recommend payment of a final dlvl•1 of Is 3d a share (12J per cent) lo carry forward £20,056, against 27 brought forward.

Barrow Pushing Journey.—Covering 20 miles the first day, L. G. Lukey, who is pushing J. G. Schofield from Auckland to Wellington, expressed himself as well satisfied with his efforts, despite the inclement weather be made good progress again yesterday, reaching Mercer last evening, a distance of 38 miles from Auckland, and it is expected that he will pass through Hamilton on Friday.

Otorohanga County Finance. —At the monthly meeting of the Otorohanga County Council it was reported that the collection of rates from April 1 to date was nearly 20 per cent better than last year. Each riding had still a credit balance. The county fund account was in credit to £IO2O. The riding credits were Honikiwl, £273; Waipa, £105; Mangaorongo, £492; Te Rau-a-moa, £69; Wharepapa, £264. The expenditure for the ridings, with the annual limits in parentheses, was: Ho.nikiwi £l3B (£300) ; Mangaorongo, £238 (£600) ; Te Rua-a-moa, £lB6 (£450); Waipa £139 (£450); Wharepapa, £l9B (£800).

Melanesian Mission. —Flying missionaries will face tho perils of the Australian Mandated Territory in North New Guinea, after the end of 1936, if the Church of England Melanesian Mission’s plans are realised. ‘ Tiie task is the most difficult, dangerous and important since the Solomon Islands’ Mission,” said the Rev. Stuart Artless, secretary of the home organisation of the mission. “ The territory is populated by 200,000 tribesmen, some cannibalistic, most of whom have never seen a white man. We are planning to send three of our most experienced missionaries, who realise that they will be taking their lives into their hands.”

German Tender Accepted. —By eight votes to four, the Auckland Harbour Board decided yesterday to accept a tender submitted pn behalf of a German Jlrm for the supply of steel wire ropes. The contract price was £599 3s lid, that of £715 3s Cd, which was submitted by 13 British linns, being tlie next lowest. Tenders for the supply of wire ropes were originally called by the board early tills year. As a result of what was described as an attempt on the part of an English combine to impose sales tax wrongly on the board, however, it was decided at a meeting of the board held on May 21 to delete the British preference clause from Hie specifications of the contract and call fresh tenders. Difference in Conditons. —The difference in conditions and tho outlook on 'the two sides of the Atlantic was commented on by Mr J. Ashton, chairman of directors of the Commercial Hanking Company of Sydney, Limited, at the annual meeting last week. “The difference belXvcen the atmosphere in London as compared with that of New York suggests almost Hie passing into another world,” said Mr Ashton. “On Hie American side is bewilderment and hitler controversy, on the other side is hope and confidence. The imperfections of Ihe American banking system have been revealed and banks have toppled like ninepins. The declaration by the Supreme Court, that much that lias been done in pursuance of the ‘ new deal ’ is ultra vires of the Constitution has made waste paper of thousands of business codes. On the oilier hand, conditions in Europe remain markedly nationalistic, and the prospects of a resumption of world trade on conditions akin to a pre-war basis are unpromising."