GENERAL CABLES

Hokitika Guardian, 13 December 1929, Page 5

GENERAL CABLES

WELCOME REDUCTION

(United Press Association. —By Electric Telegraph.—Copyright.) (Received this day at 9.25 a.m.) LONDON, Dec. 12, The reduction of the bank rate to Ave per cent, completely surprised city business men. Financial circles express the opinion that the reduction will sooth the market’s nerves after the recent series of shocks, and give a much needed fiillip to trade. The Wall St. slump eased the world’s money position, and increased the banks’ chances of improving their gold holdings. FRUIT SEASON. LONDON, Dec. 12. T. W. Moore and Company, in a review of the fruit season, states that cue outlook for 1930 appears to be iairly good, as United States crop is below the average. The aggiegate total coming from Australia and New Zealand seems likely to- be about four hundred thousand cases, and if United States home markets show signs of weakening during the coming spring, a much greater quantity than is now expected may come from that quarter.

THE COAT; BILL. IN DU STRIES’ REQ UEST. (Received this day at 12.2/5. p.m. LONDON, Dec. 13. The’ Federation of British Industries sent a letter to the Prime Minister urging the Coal Bill should not he rushed through Parliament, pointing out the industry, as a whole, had not been consulted or given an opportunity to express an opinion, though industries were dependent (for their existence upon plentiful supplies of coal at prices enabling manufacturers to compete with foreign products.