VARIOUS DOMINION ITEMS.

Hokitika Guardian, 30 July 1921, Page 3

VARIOUS DOMINION ITEMS.

TELEGRAMS.

i_BY TELEGRAPH—PER PRESS ASSOCIATION]

SPECULATION IN BUTTER. WELLINGTON, .July 29

The attention of the Acting-Premier was to-dav drawn to a resolution moved :u the Dominion Farmers’ Conference by .Mr Mel’adden (Buller) that the Government he asked to legislate to prevent speculation in. butter, when control expires, ami to an amendment eventually passed bv the Conference, approving of the principle of retail (trices being governed by competition and the ordinary supply and demand of articles. The Minister stated, however, that he was not in a position to make aiiv statement.

It is understood that Cabinet lias considered to a certain exteiit what will he the position when butter control ceases, but nothing has been decided yet, nor is likely to be until alter Mr Massey returns to New Zealand.

DEPOSITS AT CALL. MORATORIUM INEFFECTIVE. TI.MARU, July 29 A ease under the Moratorium Amendment Act, 1920. probably tho first of its kind in New Zealand, was dealt with in (’handlers by Justice llerdman to-day. The Timarii Borough Council has received considerable sums of money on deposit at call. In November last they received £-1000 from Evans and Co., flour millers, at M.) per cent at call, the lenders wishing to keep thai sum liquid for business purposes. The Amending Act ol last year gave borrowers the right, by giving notice In the lender, to extend “at call’’ t,, an\ date not Inter than December Mist, 1921, on paying an additional I per cent interest. Tho Borough gave that notice, and, when asked for the principal said they eimld not get the money. Clause S gives a lender the right to appeal to the Supreme Court for relief in case of hardship. The Judge held that a lender who wanted money for business purposes was in a different position from an investor of spare funds, and it would he a hardship if he had (as ill this ease) to pay 7 per edit while the Borough list'd his money at H per rent. Justice llerdman gave the’Council a week to decide whether they would pay extra interest from March 2M. Jf not, he would make an order to repay the principal. This ease was not to he a general precedent. Every ease must he treated on its merits. RAILWAYS FINANCE. WELLINGTON". July Ah -An item that has attracted attention hi the public accounts tor June quarter i.-- Ihe railway cx|khhlil u ; e. Tim cosi of running railways during the quarter is ; set down ai L 1.97” (IHH as against i l”. Ml ,282 for* the .corresponding period last year. The revenue for the quarter was L 1 ,1)09,937 as against C 1,4 19,, 50n in June quarter Insi year. The apparent, increase of over a mlilion in railway j expenditure is startling, hut the position is not really as had ns the figures sug- i gest. It will he found that a substan- | tial part of the extra expenditure is due J lo heavy purchases id cOal at high prices. The Railway Department stocks j of coal have been built up lately and, they are now larger than they have been 1 for several years previously. The coal j has to he paid for immediately, hut very ( much of it will he carried forward.

A EIRE. GISBORNE. This Day. A lire at Waipiro Bay last night destroyed the Trading Company store, post office, wool store, and Mawer s saddler’s shop. The damage is estimated up to £20,000. R.S.A. RESOLVE. AUCKLAND. July 30. A meeting'of the Auckland R.S.A. by a fairly large majority carried an amendment disagreeing with the proposal to apply part ot the interest on £IIO.OOO of canteen profits for nave' propaganda. Tin* mover of the amendment, Mr Lee. said a committee oi Jingies were trying to heat the big drum and encourage a big army and navy idea. That had tirade Germany a danger to the world.