TOPICS OF THE DAY.

Waikato Times, Volume 118, Issue 19661, 22 August 1935, Page 6

TOPICS OF THE DAY.

Industrial Profits —Very Real Recovery The annual reports of a number of important industrial companies have been issued during the past week, says the London Observer of July 7. Almost without exception they are excellent in character. They reflect the very real recovery in home industrial conditions and give added justification for the firm tone which continues to prevail in the market for home industrial issues. Comparisons with the previous year’s results are as follows: — Past Previous year. year. £ £

* 15 months. In several instances dividend distributions have been increased. Although the Powell Duffryn report indicates a lower rate of earnings during, the year compared with the previous fifteen months period, the dividend is 0 per cent, against 6-t per cent., the latter being equal to 5.2 per cent, for twelve months. The payment suggests confidence in the future on the part of the Board.

Newfoundland’s New Regime The real cause of the change in Newfoundland from selfgovernment to government by a British Commission was because that country had been living on deficits and loans, said Mr J. H. Thomas, Secretary for the Dominions, in addressing the House of Commons. He had no idea before the Commission arrived of the extent to which demoralisation had set in in that island. For instance, free railway travelling seemed to be something that everyone expected. There had been a great reduction in the volume of traffic carried, but there had been an increase in the receipts. One ease had been reported to him where persons did not travel tree in twos or throes, but 90 people went together and demanded free transport on a boat. When they were challenged they said that it was an old custom which was going to continue. Customs obligations were something that were not understood in Newfoundland. It Jias been reported to him from St. John’s, that one merchant during the past 12 months found that bis tea and sugar sales bad increased by hundreds per cent, and the Customs had therefore proportionately benefited. The House must not assume that that benefit was due altogether to prosperity; it was due to the check on smuggling of tea and sugar which had taken place before the now Administration was set up. This was only an indication of the kind of difficulty that those responsible bad to encounter, but notwithstanding all the difficulties remarkable progress had been macU.

Powell Duffry Steam Coal . . 221,031} 378,092 * Victoria Falls Power /i 02,220 300,0(50 Patous nnil Baldwins 213,0 iO 330,300 British Plaster Board J 30,000 100,387 E. K. Cole 1 07,380 129,202 Montague Burton 0") 3,1)8 1 528,780 United Dominions Trust . .. 158,(583 130,200 Distillers . . 2,212,133 2,150,(522