DOMINION NEWS.

Hokitika Guardian, 14 September 1927, Page 4

DOMINION NEWS.

(By Telegraph—Per Press Association.) RESIDENCE BURNT. CIS BORNE, Sept. 13. The residence of A .Cordon, of Ormond, was destroyed by fire, nothing being saved. The insurance on the house is £IOO3 and on the furniture £‘3oo. 'Hie owner’s loss is £SOO. CREDITORS' MEETING. DUNEDIN, Sept. 13. The first meeting of the creditors of - the bankrupt estate of George Thomasj Swann, who was sentenced on Febru-1 ary 11th to three years for obtaining! money on false pretences, was held this j morning. It was stated at the time that the sums involved probably totalled £20,000. White, for the petitioning creditor, stated the reason for the bankruptcy proceedings was that it seemed inered~ ible that Swann could have gone through that sum, his concealed assets

being suspected. Bankrupt was not present but bis solicitors submitted bis statement as to machinery deals that formed the basis of his transactions. He said his mem-

cry was impaired as a result of strain' and he must have been mentally nnbal-' aimed during the last year of his trading. People with whom he traded got ah' the profits, hairing expenses. Tho Assignee said arrangements would have to be made with the Prison Governor to bring bankrupt down for. examination. The meeting accordingly was adjourned. i

j a.T'STIITT.TAN TR.IDF. ! UTKLAX!). Kept. 12. j A: • .•.din has a hu.-e ad. }...(. arc • ol trade o: about £2(>.Ortt.Mo. Discussing the subject this afternoon, Sir William Lennon Raws, who is chairman of the Australian Associated Chambers of Commerce, said “Ti ls adverse hoLm.-e i>. due almost entirely m heavy 1 orrewl-.g abroad hi ear State Governments. 70or? particularly does this apply to America. It means that Australia has to buy large quantities of goods and gold, consequently there are ovvr-iit.p'r' v■’ •" goods, and this upsets the balance o*‘ trade red also prejudices the success of local manufacturers.” Discussing the industrial position, ami more particularly the question of compulsory arbitration, ‘Sir William observed: “3 hold the- view, as tec result of experience in Australia, that compulsory arbitration is a failure.” Asked for his solution, he said: “The solution of industrial difficulties lios along lines of conciliation and volunlarv arbitration.