STIMULATING EXPORTS

Sun (Auckland), Volume II, Issue 502, 3 November 1928, Page 12

STIMULATING EXPORTS

INSURANCE AGAINST LOSS GOVERNMENT GUARANTEE (United P.A. — By Telegraph — Copyright) (Australian and N.Z. Press Association) LONDON, Friday. After prolonged negotiations with the banks a new form of contract has been evolved under the. Government’s expt>rt credits scheme for guarantees to aid British enterprise in foreign markets. The “Big Five” banks, as well as the provincial and overseas banks, have undertaken to recognise the new contracts as a satisfactory security for advances on goods exported under them. By the payment of a premium of from 10s to 20s per cent., shippers can obtain a guarantee from the Overseas Trade Department against loss to the extent of 75 per cent. The “Daily Telegraph” says this novel method will help the British exporter to accord longer credit than he could otherwise afford to Dominion and foreign customers. The scheme will enable the banks to co-operate with the Government in giving: a further stimulus to British exports, and will provide more employment for British ■workmen.

OHINEMURI MINING NEED OF PUBLIC BATTERY (From Our Own Correspondent) WAIHI, To-day. At a meeting of the Ohinemuri Public Crushing Battery Committee, held last evening, proposals for the utilisation of the Rising Sun battery, toward which the Government voted £I,OOO, also an offer submitted by the Waihi Mining Company for crushing ore at the company’s, bakery for the public were considered. Mr. Hopkins, superintendent of the Waihi Company, in explaining the latter company’s proposals, said that the closing of the Rising Sun mine complicated the matter, but his company was willing to help the committee to a certain extent. After discussion it was unanimously decided that, as there was no possibility of the proposal for a public crushing plant at the Rising Sun battery being consummated, the proposals of the Waihi Company would be valuable, for trying out found reefs, but, in the committee’s opinion, of little use to tributers; at the same time the committee earnestly petitions the Government to provide the much-needed crushing facilities in the district. FEILDING STOCK SALE Press Association. FEILDING, Friday.

Owing to heavy rain and the Royal Show, entries were small for the stock sale to-day. Fat sheep met with a dragging sale, butchers having fllied their requirements last week. Fat shorn ewes made up to 24s 6d; fat shorn wethers, 32s 3d to 32s 6d. No store sheep were sold. Fat cattle sold at late rates. Vealers made up to £3 12s 6dcows, £8 5s to £l3; bullocks, £ls 10sStore steers, to £9. Dairy heifers in milk made £8 10s; springing cows, £ll 15s; other cows, £5 17s. PROPERTY AUCTIONS A leasehold property occupied by a three-floored brick building and situated at the corner of Little Queen Street and Customs Street West, was unsuccessfully submitted to auction by Samuel Vaile and Sons, Limited, yesterday, on behalf of the National Electric and Engineering Company, Limited. The property has frontages of 60ft Cin and 41ft, respectively, and is a Harbour Board lease, expiring in 1945, at an annual ground rent of £67 13e. Bidding progressed from £15,000 to £19,000, at which figure the property was passed in. Of five house properties submitted at public auction by Samuel Vaile and Sons, Limited, yesterday, two changed hands. The sum of £1,250 was given for a fiveroomed house, situated on a corner section, 60ft by 120 ft, at Bellevue Road, Mount Eden. An eight-roomed house at Crummer Road, Grey Lynn, was sold for £970. The section was 50ft by 115 ft. Seventeen sections in the Victoria Avenue Terminus Estate, fronting Shore Road and Stirling Street, Remuera, were offered at auction by Messrs. T. Mandeno Jackson at their rooms yesterday, but the sections failed to find buyers.