BRITISH & FOREIGN ITEMS

Hokitika Guardian, 13 July 1921, Page 3

BRITISH & FOREIGN ITEMS

CABLE NEWS.

AUSTRALIAN AND N.Z. CABLE ASSOCIATION. SHIPPING FREIGHTS CONFERENCE. (Specai to Press Association.') (Received This Day at 11.30 a.m.) LONDON, July 12. The Shipping Freights Conference Committee appointed to represent New Zealand producers are Messrs Algar, Mnkgill and Jas. Bell of Hawkes* Bay. Owing to his early return, Mr Campbell, M.P.. is unable to act. Besides conferring with shipowners on the whole matter of freight’s, the Conference will decide on the practicability and usefulness of setting up a permanent committee.

In the course of the Conference a quantity of figures were submitted by Mr Massey and other New Zealanders,

showing freights had risen above prewar rates by throe hundred to four hundred per cent ; also the ratio of increases was far above the ratio of increase in prices of produce. It was emphatic that .something should be done. Shipowners said the costs were so high that they also were losing money. They view with concern the position, because they realised if the shipping of produce was unprofitable, cargoes would he diminished. The reasons for the increase included longer journeys, multiplicity of shipping ports in Now Zealand, heavy cost ot building, and absence of outward cargo. These matters will he discussed by the committee.

COMMERCIAL. (Received Tin’s Day at 12.25 p.tn.) LONDON, July 12. .The New Zealand loan reached @>ne per cent, premium. The fall on New York Exchange was not unexpected thought the amount is greater than anticipated. It is attributed to autumn grain, cotton, and other seasonable requirements in America.

BOWLING. LONDON, July 11.' New Zealand howlers defeated Hawick by 123 to 105.