SPECIAL DUTY PROPOSED

Sun (Auckland), Volume II, Issue 528, 4 December 1928, Page 12

SPECIAL DUTY PROPOSED

IMPORTS TO AMERICA AUSTRALIA AND CANADA {Australian and 2J.Z. Press Association) (United Service) Reed. 9.5 a.m. WASHINGTON, Monday. Canadian and Australian Customs laws, •which are stated to operate to the disadvantage of the United States railways and shipping ports, have been receiving the attention of the United States Shipping Board, which in a report outlines remedial measures which Congress is expected to pass at an early date In order to offset the effect of the Canadian Customs provision which extends preferential tariffs only to goods imported through Canadian poi'ts, the board proposes a special duty of 10 per cent, on all articles imported through contiguous foreign countries, and there transhipped into the United States. The proposal provides for the suspension of the special dnty on the order of the President in favour of any foreign contiguous country whose duties are the own ports or are imported through an American port.”

P. AND 0. PROFITS

CREDIT BALANCE £923,029 (Australian and N.Z. Press Association) Reed. 10.6 a.m. LONDON, Monday. The Peninsular and Oriental Steam Navigation Company, after adding £ 92,050 to its reserve fund, setting aside £1,000,000 as premium received on the issue pf new deferred stock for new tonnage construction, has a credit balance of £923,029. The reserve fund for the redemption of debentures gets £103.132, the provident and good service fund £20,000, and £121,929 is carried forward.

MINING NEWS

ALB URN I A.—The manager reports:—‘The drive south on cross leader off drive north on hanging-wall Orlando Reef has been extended 3ft, a total of 2_3ft. The reef here- averages 15 inches wide, but is still split into branches. The quartz when broken down carries nice mineral blend and silica. . The rise on the cross leader from the north end of drive north on the hanging-wall of Orlando Reef has been risen 3ft x 2ft long, total 13ft x 12ft. The reef here at present is pinched, but the country rock on both walls is still of a splendid class for making gold. The winze on the cross leader under the rise has been sunk 4ft, a total of 4ft. The reef here averages 18 inches wide. Colours and strong dabs of gold were seen in the ore broken. In the rise on the dropper off the Sons of 'Freedom Reef, all the timber at the top to form the intermediate level is completed, and a distance of Bft has been driven north from the rise and the timber put in. A start will be made to cross-cut east and west on Monday.” OCCIDENTAL UNA. The manager reports: The reef in the drive is from sft to 6ft wide, carrying nice mineral blend and silica. In the leading stope over the drive the reef maintains its size, and the quartz broken from here carries nice mineral and blend with colours of gold scatj tered through the quartz. Crushing at j McGregor’s batery is being continued this week.