GENERAL CABLES

Hokitika Guardian, 16 March 1928, Page 2

GENERAL CABLES

{Australian & N.Z. Cable Association

GAMBLING IN AIARCOXI SHARES. LONDON, AlaTcb 15. Alarroni .shares opened this morning at (51s 3d, and mounted all day long, closing at (5Ss. There were excited, heavy dealings in ' the streets after closing, when they reached 70s. LONDON, Alarch 15 The Fnancial Times says: “According to a city rumur the Amalgamating AVireloss Cable Companies will pool their receipts Marconis take sixty per cent of the net revenue, and the Associated Cables forty per cent, between them. Another story is that the Alarcon i inter.sts’ new holding in the company is equivalent to £4 per share. Afcnibers of the Imperial AVircloss Cable Conference have confessed that they arc pleasantly surprised at the announcement of the ATareoni-Eastera agreement, hut. they declined to comment upon it in the absence of the terms of the proposed fusion, and also for reasons of secrecy officially imposed. It can. however, be assumed to be most carefully considered by the ALar-eoni-Easteni combination and with them rests tbe responsibility of framing recommendations to their respective Governments. It is regarded as a hopeful agttry that the companies were able to reach an agreement while- the conference was sitting, because that is likely to assist in the difficult task of reconciling the interests of all the parties. SOVIET’S EXP LA NATION. LONDON, Alarch 14. The '“Times” Riga correspondent says: Further news from Aloseow proves the disclosure of the alleged Don Basin plot was sprung upon the Government by a section of tbe Communists with excessive zeal for the O.G.P.AV. The extent of the Government’s unpreparodness. resulting in a clumsy explanation, is shown by tin* official announcement of the plot is accompanied by unaltered pages not blaming foreign engineers.- but attributing the failure to tlie Don Basin Communists. The managers and officials incapacity and negligence is dire to the prevalence of drunkenness, due ■ to the State’s vodka monopoly. A miner writes that the Don Basin is flooded with vodka, and not a single day passes without knifings and murders. Not more than 20 or 40 men are working on Mondays and days after holidays. Another declares that 20 truck loads of vodka wore consumed last year, and 20 already Fn 1028, causing wholesale destruction by arson of buildings and a great loss of money. SOVIET ARRESTS. (Received this day at 9.30 a.m). RIGA, March 15. According to an explanation front Moscow, the Donetz. arrests were due to the discovery of an alleged conspiracy to effect the economic, if not political independence of Ukrania, in which German and Ukraine industrial interests are supposed to be collaborating. It is claimed tha the action will achieve two objects, checking tbe Separatist movement and over-aweing industrialists generally. EXPORTS CREDIT. (Received this day at 9.30 a.m). LONDON, March 15. Hon. Amery at a dinner of the British Overseas Banks Association, indicated the development of the exports credit scheme under which the department. instead of making a contract with Die exporter would make it direct with the exporters’ banker, who would thus become effective good security in regards to the undertakings of his selected clients. LONDON, March 15. The “ Daily Telegraph's ” Parliamentary correspondent states the Government will refuse the Labourites demand for another inquiry into tbe Zinovieff letter on the ground it would serve no useful purpose to re-open the matter. CANADIAN IMPORTS. LONDON, Alarch 15. According to an answer to a question in the Commons between April, 1927, and January, 1928, approximately thirty-four million pounds of Australian butter entered Canada during 1927 ; five million pounds of New Zealand butter, and 895,000 pounds of Australian mutton was imported.