TRANSPORT PROBLEMS

Sun (Auckland), Volume I, Issue 229, 16 December 1927, Page 12

TRANSPORT PROBLEMS

EX-MAYOR’S IMPRESSIONS ABROAD PORT SAID AND ITS DONKEYS “Every town Is in trouble with i transport excepting Port Said, where the trams are hauled by donkeys,” said Mr. T. Lamont, former Mayor of Devonport, last evening. Mr. Lamont attended the borough council meeting in that suburb by invitation to give his impressions on municipal matters, after a recent I world tour. Transport problems, he said, were widespread, due to the development of motor-bus traffic. London, where most of the transport was privately owned, and New York, where the same condition applied, were the least affected. In the latter place transport was remarkably efficient, and the fiat rate made long-distance travelling very cheap. In Glasgow, once the example to the world in municipally owned transport, the public authorities had bought up suburban tram systems, but it seemed that a mistake had been made. The reduction of the maximum fare to twopence had increased tram revenue. Mr. Lamont advised the North Shore to go cautiously in the scheme of .amalgamating the boroughs. He had found instances in which such action had been regretted. On matters of water supply he had consulted Sir Alex. Houston, in London, about the Lower Wairau supply, and that expert had told him that the North Shore water was wrong, and that he was right when the board dropped the scheme against his advice. Mr. Lamont said he did not originate the Lower Wairau scheme. The old Takapuna Board of Control had planned it, but he endorsed it. Judging by newspaper reports, there was no use relying on the City Council to supply the North Shore with water. The existence of mud roads, and had ones at that, in America, surprised Mr. Lamont, who had expected to find most of the roads in concrete. In England bitumen roads were very much used, probably because the bitumen was manufactured there. Referring to his welcome at Devonport, England, Mr. Lamont said he had not regarded it as a personal matter, hut a compliment to Devonoorf in New Zealand, and suggested that the local borough should acknowledge it. Whenever he had travelled he had found New Zealanders very highly respected. In Canada he had been told by a former American army officer that, while the New York soldier was regarded as the wildest in France, the New Zealander was regarded as the most gentlemanly.

NEW SOUTH WALES LOAN LONDON ISSUE OF £7,000,000 By Cable.—Press Association. — Copyright. LONDON, Wednesday. A loan of £7,000,000 for the Government of New South Wales been underwritten. It will comprise 5i per cent, stock, ranking pari passu with former issues of that stock, which is repayable in 1957, or at any time after 1947 at borrower’s option, and will be issued at 994. The first payment of interest, of £2 per cent., will be made on July 1. 1928. Allowing for the bonus on redemption, the net yield to the investor will be £ 5 5s 8d per cent. The announcement of the loan came as a surpise to the market, as it had been presumed that the State’s issue of £ 3,000,000 of three months Treasury bills on December 1 would have met its requirements until the New Year. The prospectus states that the proceeds will be used for the construction of railways and other public works, after repayment of the temporary advances for which the recent Treasury bill borrowing was made. The loan has been favourably received on the Stock Exchange, which is especially pleased with the statement that the whole of the sinking funds will be applied to the purchase of New South Wales and other Australian Government securities in the London market. —A. and N.Z. BUTTER AND CHEESE Merchants report receipt of London cables re butter and cheese as follow: Norden and Co., Ltd., under date December 15, from their principals, Andrew Clement and Sons: “Butter—salted, 156 s to 160 s; unsalted, 1745; market weak. Cheese—white, 91s; coloured, 90s; market quiet. The Rotorua and Pakeha are listed among the arrivals.” Dalgety and Coy., under date December 15: “Butter—The market is weak and irregular. New Zealand finest salted, 156 s to 1625; Danish, 180 s to 186 s; Australian finest unsalted, 162 s to 1645; Australian finest salted, 152 s to 1565. Cheese— The market is dull. New Zealand, white and coloured, 90s to 925; Canadian, white and coloured, 9ss to 100 s.” MINING NEWS HAURAKI.—The manager wired yesterday as follows:—“Completed breaking down reef this afternoon. Selected about one pound good specimen stone. Strong splashes of coarse gold seen freely through main portion of reef over distance of ten feet to present face. Driving resumed toward the Green Harp Junction ” WAIHI.—The following information has been cabled to London:—The No. 3 diamond drill hole is out 567 ft in hard andesite. At 462 ft there is one foot of quartz, the assay value of which is 206 per ton.