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Hokitika Guardian, 11 January 1932, Page 4

Tub fall in prices, the reaction due to the curtailment of Government expenditure of borrowed money, the increase in taxation, together with the minor changes which accompany those of a fundamental character, have common with those of every class of business, according to a survey made by the “Australian Banking Board-” Amongst special features have been the increase in late years in deposits bearing interest, and the reduction in exchange business resulting from the decline in the value of both imports and exports. The amount of shareholders’ funds employed, in the form of capital, reserves, and undivided profits, has more than doubled during the past twelve years, owing partly to the additions made to reserves out of profits. With reduced profits a comparatively small addition has been made to reserves during the past year, but the shareholders’ fund-? stand at a large total in relation to the volume of business and the excellent position which the banks occupy in this and other respects enables them to regard current fluctuations with equanimity. The net profits of the twelve banks during the year under review show a reduction of £1,503,501 as compared with the previous year, and the dividends a reduction of £873,494. The profits for the past year amount to £4,404,573, which compared with the maximum of £0,449,565 reached in 1926, The dividends amount to £4,164,818, which compares with the maximum of £5,213,456 in 1928, ’1 lie dividends for the past year are barely equal to 9 per cent, on the total paidup capital, while as compared with the total shareholders’ funds, inclusive of reserves, they are equal to a little over 4£ per cent., a rate naturally suggesting that the funds could lie invested otherwise to at least equal advantage. In making payment of the dividends it lias been nectary to take exchange into account, the oft net being that a given amount in Australian currency represents a smaller number (, f pounds in British or New Zealand eiurenev than if the respective currencies were on a parity with < ||lp lin ‘ other; while conversely the divdends declare | in Brill.di currency by the Anglo-A ust ml in ii inst i tut ions represent a greato" number of Australian pounds.

All week-end sporting events set down locally wore again postponed owing to the very heavy weather experienced. Men’s felt hats, good shades, latest snap style, from 7/11 at W. .11. Stopforth’s. —Advt. s James Currie, who appeared before Mr H, A. Young, S.M., at Kaikoura, was sentenced to three months’ imprisonment eii a charge of reeei\ ing Co from Samuel Pluck and £2 from Edmund Workman under false pretences.

Inquiries of the Unemployment Board officials fail to substantiate the report of the Wellington Unemployment Committee that a general instruction had been given to reduce the relief work for single men to one day weekly and to cease this after February 13. Tlie board is still tinder straitened finance and. anticipating additional -seasonal employment, recently made u percentage reduction in allocations to the district committees, otherwise it is proceeding on former lines.

While working at the New Zealand Refrigerating Company Ltd.’s freezing works at Islington on Friday morning, S. Minnards, a. butcher, of Hornby, gashed the two middle fingers of his right hand. He. was attended to by Miss I. Thompson, chemist, at the works laboratory, and taken to the Christchui‘ch Hospital, where it was found lieeessar.y to in&ei't .six stitches in his fingers. He was later taken home. His condition is satisfactory.

A. story of a. brutal attack and robbery in iiis hilt, related by James Hamilton, aged eighty-four, who lived alone at Yaldhurst and now lies in the Christchurch Hospital. He is recovering slowly from wounds in the head after the incident, which is alleged to have occurred on the afternoon of December 30 when a man visited the hut and knocked the occupant about- badly. His condition is not considered to ho serious.

At a special meeting of the committee of the Grey Main School, held on Friday evening, it was decided that of five applicants for the position ol assistant-master, Mr Neil Bruce Clarke, of Clyde, should be appointed. Mr Clarke’s previous appointments include positions at Addington, Dunedin, Mornington, and Maori Hill schools. Five applications were received for the position of assistantmistress, but it was deeided that no appointment should be made, until further details of the qualifications possessed by the applicant, recommended by the Education Board, were received.

M ‘eii! We have a fed oddments in well cut suits, at gift prices. It will pay you to inspect these at W. H. Stop forth’s.—Advt.

Heavy rain on Saturday morning continued most c.i tdi nftei'tto ii and aUcla slight lull, set in again in earnest for the night, Between 10 add 1.2 thefts was a regular downpour and the lowly* ing streets were flooded to a considerable extent before the rain water could get away. Yesterday showed little improvement, there being heavy showers throughout the day, with hardly a break, a fairly heavy gale blowing at times from the north west. There was a heavy sea running on the coast, and the barometer showed a very low reading being down 29.18 in the afternoon. There was a flood in the river but not not to the extent that the heavy rain would have suggested would have been the case.

Wishing to prospect for gold in the country west of Okarito, a party of five men made application to the M ines Department for assistance Their representations were supported by Mr Clyde Carr, M.P., who has received a reply from the Minister of Mines to the effect that the Department’s vote for prospecting is exhausted. The Minister adds that the Unemployment Board has now arranged to assist prospecting on the West Coast under the No. 5 scheme and that the Inspector of Factories at Creymonth has been appointed to deal with all applications, ft is suggested that Mr Carr might he able to arrange with the Timaru Unemployment Committee and the Inspector of Factories at Greymouth to obtain the benefits under the scheme to assist the men interested in the Timaru venture.

A wonderful display of toys of all descriptions can be seen at the Economical Crockery Shop, including dolls' prams, dolls, all sizes; wooden toys in great variety, tennis racquets, bench balls, gun sets, teddy bears, golljwogs, play balls, aeroplanes, motor cars, menagerie railway sets, also exclusive firework novelties, Economical Crockery Shop. P. Stephens, proprietress.— Advt.

Blazers, bathing suits, silk underwear. Pure silk gloves. Pure silk hose, in all the latest shades at all prices can he found at Schroder and Co. Priced most moderately. Inspection cordially invited—Phone 121 s. Call early before the pick is gone. Advt.

A beautiful range of Art Silk Curtain Nets, “and fadeless curtain nets” are now opening out at Schroder and 0-' ; It will be to your advantage to call early, as they are marked at a price to suit the most fastidious. —Advt.

For that irritating flatulence after eating, try a-AN Mixture, X-AN fresh, ens up the stomach glands, multiplies the digestive juices, purifies the blood and restores the muscular action to the intestines thus ensuring propel elimination. W. E. Williams, (Them. isk A (In.

Men! C.T.B. is the name of a shirt made and designed in New Zealand Priced from 8/6 to 15/6.—Advt.

A Wellington press telegram records tin; death of Mr J. H. Richardson,

formerly Commissioner of the Government Life Insurance Department.

A cable from Honolulu states that the Hon. W. D. Donnie Stewart, who has concluded a trade treaty with Hon. Mr Stevens, Canadian Minister of Trade, will return to New Zealand by the liner Niagara, leaving Honolulu on .January 13th.

Very Rev. Father .J. Long (Adm.), Rev Fathers liolohan, Healy, and G l egory (Greymouth), Finer ty and McKay (Hokitika), O’Doherty (Ross), .'ud 'Seward (Ahaura), left by this morning’s express for Christchurch where they will enter their annual retreat. During their absence Rev. Father Lor dan (Kumara) will be in sole charge of the parishes.

The funeral of the late Mr Patrick Fitzgerald of Kumara took place at the Kumara cemetery yesterday a I ternoon, when, in spite of very heavy

rain falling, there was a lengthy cortege. friends of the deceased being present from all parts of the "West Coast. The floral tributes were numerous. The service at St. Patrick s Church and at the graveside were conducted by Rev. Father tb LordUh, of Kumara.

The mob engaged on relief works in South Westland have formed a branch of the New Zealand Workers’ Union, with a membership of seventy-five, and it is expected twentyVfrve more will soon form up in Ross vicinity.. The branch is known as that of Waiho Gorge, and it has also established a Medical Association and entered into an agreement with the Westland Hospital Board.

The capsize of the yacht in which they were sailing in the- Napier roadstead during rather windy weather gave two Otago University students, Colin Hunter, who resides in Napier, and Jeffrey Benson, of Dunedin, a somewhat trying experience on Tuesday afternoon. When their small craft capsized they managed to scramble on to the upturned hull, but it was not until almost an hour after that the Napier Harbour Board’s launch Ponui reached them, taking them on hoard and towing the yacht to the Inner Harbour.

Tlie death took place at Greymouth on Saturday evening of Mr John AY. Chalk, a well-known boot importer of many years standing, after an illness of some weeks duration. Deceased was a native of Southampton, England, and was 71 years of age. He came to Greymouth in 1877 to open a branch of the business of Hannah and Co. and was m charge till 1897, when lie opened tip business on his own account. He was a well-known cricketin' in his younger days and was a member of the Grey Bowling Club, tind was of a quiet nature, and generally esteemed. His wife died some three years ago. He leaves a son, Mr Harold Chalk of Greymouth, two grandchildren and one brother, Mr James Chalk of Hawke’s Bay.

No further eases of diphtheria have been reported in the Ashburton Borough so far, according to Dr. T. Fletcher Telford, Medical Officer of Health, who stated on Friday that full precautions were being taken and that several “carriers” had been located. The greater number of the cases were prior to December 31. On December 31 three persons in a family at Mitcham were affected, and since then there had been one case each at Timaru and Tinwald. Dr. Telford said that the ‘“carriers” had been isolated when found by the local medical authority, but there might still he a stray “carrier.” He stated that not all the cases were in the Ashburton Borough, several of them being in the country. Up to Thursday thirtytwo cases had been reported in the Ashburton district, seventeen of them serious enough to require admission to hospital.

Blonde, brunette, or titian—all secure same benefit in Rachel Hair Tonic. W. E. Williams, Chemist.—Advt.

Now is the time to secure gifts at very low prices. Fancy sox, shirts, ties, belts, trousers, init'al and plain handkerchiefs all for the men at McKnvs.—Advt.

Special discount will be given on .dl our holiday Frocks and Hats, see our ad\ertisement. The finest selection in town bought to advantage off Schroder and Co.- -Advt.