REVENUE SOARS

Sun (Auckland), Volume III, Issue 835, 2 December 1929, Page 10

REVENUE SOARS

CUSTOMS RETURNS SHOW BIG INCREASE

FIGURES FOR NOVEMBER Statistical proof of the steadily soaring revenue on importations is the feature of the Auckland Customs returns for November, which were completed and issued on Saturday. THE figures show that the total : figure for November, including I Customs, motor spirit duty and tyre tax, amounted to £255,594. This represents an increase of more than £40,000, as compared with the same period last year. Higher figures are recorded in all departments of taxed goods. The following table shows the detailed increase for the month:-

Thus it is apparent that, while the tyre tax for the year has decreased, the general revenue *is more than £300,000 ahead of last year's figures. Beer duties for the month have decreased slightly, the decrease being apparent also in the figures for the year to date. Details of the beer figures are: 1929. 1925. November £10,863 £10,927 Eleven months ending- Nov. 30. . •• 105.60 G 109,329

CHRISTCHURCH CUSTOMS

FIGURES SHOW INCREASE Press Association CHRISTCHURCH, Friday. There was an increase of £6,980 in the net customs revenue collected at Christchurch this month, compared with last month, and an increase of £9,198 compared with November, 1928. For the calendar year so far the increase is £14,594. Following are the details: Customs: November, 1929, £110,9So; November, 1925, £101,785: January-Nov-ember, 1929, £1,097,517; January-Novem-ber, 1928, £951,575. _ oc , Beer duty: November, 1929, £'<><BB; November, 1925, £6,649; January-Novem-ber, 1929, £ 51,649; January-November, 1928, £74,983.

CUSTOMS DUTY IN DUNEDIN

GOOD ALL-ROUND INCREASE Press Association DUNEDIN, Sunday. For the month ended yesterday, the amount of customs duty received at Dunedin was £78,037 3s 2cl, and the amount of beer duty £21,397 6s lOd. During the corresponding month of last year £76,972 7s 5d was received in customs duty and £19,497 11s 4d in beer duty. The amount of petrol-tax received during the month was £ 5,926 16s 4d, and £1,431 T2s was received by way of tyre-tax. Last year in November, £SO4 11s was received for tyre-tax and £3,740 2s 4d in petrol-tax.

PERIOD OF DULLNESS

LONDON STOCK EXCHANGE DEPRESSED

WAR SECRETARY’S MISTAKE (United P.A.—By Telegraph — Copyright) LONDON, Saturday. The Stock Exchange had been passing through another period of idleness and depression, and all sections have failed to maintain the improvement which followed the lowering of the bank rate last week. Gilt-edged stocks were adversely affected by the ill-advised incursion of the Secretary of State for War, Mr. Tom Shaw, into the realms of finance, and although the Chancellor of the Exchequer, Mr. Philip Snowden, repudiated his colleague’s threats against war loan holders, there is still a feeling of about the giltedged markets. Industrial stocks have been very dull. The collapse of IT. S. Horne, although it did not come exactly as a surprise, had the effect of further depressing an already weak market. The Wall Street slump on the London Stock Exchange is shown by the latest valuation of public securities made by the Bankers’ Magazine. Tlie aggregate values of 265 representative securities show a decline in the month ending November 18 of 4.3 per cent., and 278 variable interest securities show a fall of 8.6 per cent, 'fat it is interesting to note that the high-class investment stocks weathered the storm excellently. There is certainly a nominal drop in British funds, but this is explained by the fact that halfyearly dividends on war loans have been deducted from this price.

FLAX GRADING RETURNS

FIGURES FOR NOVEMBER Although there has been a slight improvement in the quality, the quantity of the hemp graded at the Port of Auckland during November showed a decline of over 700 bales on the figures for the corresponding period of last year. Following are the returns for Xo- % ember, those for the corresponding month last year being given in parentheses;— Hemp.—Good fair, 50 bales (354) * high fair, 534 (455) ; low fair. 293 (571)’ common. 99 (259): rejected, 24 (34). Total, 1,000 (1,704). v T °w.—No. 1. 1 (147): No. 2, 172 (298); No. o. Ho (127); condemned, 19 (24) Total, 307 (596). Stripper Slips.—No. 2, (H); condemned, (4>. Total, -

NATIONAL BANK DIRECTORATE

The general manager of the Xational Bank oi Xew Zealand, Limited, has received cable advice from his London office that Lord Balfour of Burleigh has been elected to a seat on the board. Lord Balfour is also a director of the Standard Bank of South Africa, Limited, the Bank of Scotland, and the Australian Mutual Provident Society London. He is a special commissioner for inland revenue, and a partner in Sherwood and Company, banking and discount agents, London.

1929. 1928, Motor spirit .. Motor tyres . . 26.193 23.194 4.1S8 3,265 £288,594 £214.985 The total tor the eleven month ot this year, ending November 30, compared with that of last year, are as follow: — Customs £2,199,974 £1,976?071 Motor spirit . . 295,2SS 209,449 Tyre tax 38,485 42,319 Totals . . . . £2,533,747 £2,226,S39