WELLINGTON NEWS

Hokitika Guardian, 25 September 1928, Page 7

WELLINGTON NEWS

MOTOR CAR PRODUCTION. (Special to ‘ Guardian.”) WELLINGTON, Sept. 20. The motor enr industry is a long way the important in the United States. It lends itself to mass production and huge profits, and both are prominent in America. Latest reports from the Republic are that the favourable conditions in the motor car industry continue to be borne out by the statistics of company production. The turn out of passenger cars and trucks in July in the United States and Canada slightly exceeded 4C0,0C0 bringing the total for the seven months to about 2,725,000. Production in July last year totalled 279,456 and the total for the first seven months was

2,475,150. In 1926, the industry’s record year, July output totalled 374,483, and the first seven months 2,857,936. Production in August was expected to show a 25 per cent increase on the same month of last year. Factories which have recently introduced new models are in several instances more than a month behind on deliveries, and increased operations were expect* ed to reduce the number of orders carried into September. The Ford Cev now building 4000 cars daily, is still several months behind orders. Reports indicate that generally low stocks of both new and used cars are held by dealers. The new car situation is materially helped by the fact that dealers handling ears recently introduced, and Ford dealers have no cars at all and are receiving only allotments from factories, that is to say they are being rationed. Used cars are running low and are being kept low by active demand in practically all centres. A new form of protection, known as automobile use and occupancy insurance is the latest introduced in the United States Loss sustained in the conduct of business by reason of theft of motor vehicles or their damage by fire can now be insured by all operators of commercial motor , vehicles. The policy has been developed especially for trucks, van and bus fleet opera 1 - tors for whom temporary suspension of business might mean financial .embarrassment or disaster regardless of equipment loss. Under the policy the insurer receives net losses due to business interruption, as well as addition eippenses incurred maintaining the business until equipment can be replaced. ' !

CLOTH COMBINE. ; Early last week pumoups were revived in Yorkshire of a bi£ combine of cloth mills. The companies said to be interested in this movement were reported to he located in Bat ley and Dewsbury, the centre of the heavy woollen trade. No outside financiers were concerned in the movement which is said to be the outcome of discussions between the principals of several firms who believe that an amalgamation would effect large economies which would help to put the industry on a more prosperous basis. The Bradford correspondent of the “Financial Times” points out that if the experiment is tried to any important extent it may mean the adoption of a system entirely different to what our Wool textile tade, which is a highly technical one, is based upon. H'therto the importance of individuality has been emphasised. One of the most serious complaints by those engaged in the West Riding woollen industry is that business is handicapped by the heavy charges imposed by local big units into which commission firms have been formed. Combinations and rings in various departments have helped to make the cost of the finished article so deer that manufactures could not be sold in the open market. Where local big units‘have much competition to contend against they have not been conspicuous by their success. Whatever the size of the unit formed, it cannot produce fully manufactured goods to compete successfully with foreign competitors with wages and working conditions on their present relative basis, plus a free market in Britain for foreign goods SINGAPORE DUCK

Underwriters liabilities connected with the towage of the mammoth naval dock amount to no less than £900,000, and the original premium paid on the insurance contract for the whole voyage from the Tyne to Singapore was £54,000 Besides being the biggest contract of its kind, the enterprise presents several features which are quite unique in the engineering methods of transport. The experience of underwriters of the towage of large floating docks on lengthy voyages have not been uniformly favourable in fkist years, and in the present instance their liabilities continue until the new dock, which has been built to lift the largest battleship afloat, has safeilv arrived and been formally delivered to the British Naval authorities at Singapore.