GENERAL CABLES

Hokitika Guardian, 1 April 1931, Page 5

GENERAL CABLES

AN EXCITING VOYAGI

iUmbcd Prites Association—By Eloertrir Telegraph—Copyright).

(Received 10.20 a.m.)

LONDON, March 31

The Yiile do Verdun arrived at Marseilles from Noumea alter a voyage full of incident as a novel. Shortly a/fter passing Mnrquesa Islands, the quartermaster went insane and killed the captain ivith a pistol. Later, two men ivere lost overboard, and then towards the end of the voyage a S.G.S. from the Italian steamer Rita brought tin* Yiile tie Verdun rushing to the rescue of her crow.

EXCHANGE POSITION. LONDON, March 31

While the Australian Bank is understood to hold .sufficient sterling in London to meet Australia’s immediate obligations, concern is steadily growing in consequence of operations outside the exchange pool. Many Ausli'dian exporters,- desirous of obtaining sterling are ignoring the banks and entering into direct agreement ivith English merchants. Financial circles arc also most concerned for New Zealand exchange, many Australians obtaining Neiv Zealand notes and changing them for sterling, thereby depleting Neiv Zealand balances in London.

Authorities express the opinion that if the practice continues Neiv Zealand exchange will go the wav of Australian and decline. A drastic system of export licenses is tin- only solution of tilt* exchange problems.

REPLY TO ENGLAND AND

FRANCE

BERLIN. March 31

Herr Curtins replying to Mr Henderson and M. Brinnd declared that economic anxiety and distress had brought tiie Austrie-Gernmn Governments together and impelled them to arrange the pact, Both countries expected to extend and improve trade and industry by equalising customs and trade conditions, which did nut hamper trade intercourse. Both realised ei’en the mere appearance of a violation of inpedendenee ot Austria must be avoided. In view of tlm structure of our pact, it is difficult to understand hoiv Austria’s indeneudonoe cart be affected. Thus far rin one had attempted to prove the allegations that the plan violates the treaties. OBITUARY. LONDON. March 31. Obituary—-Lord Stamfordham.