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COMMERCIAL.

LONDON WOOL SALES. By Telcjraph.—Press Assn.—Copyright. London, Oct. 10. The wool sales have opened strong at par to 10 per ceni. advance. P. AND 0. COMPANY NEW MAIL STEAMERS. London, Oct. 10. The P. and O. Company shows a credit balance of £7,444,901 and carries forward £lol',799. The report states that the captain of the Egypt, who has been all his life in the company’s service with an unblemished record and without an accident, has voluntarily resigned. He has been granted the (maximum pension under the company’s rules. It is expected the Mongolia will be delivered early in the spring, the Mooltan in June, and Maloja in, August. The directors are preparing plans for several new mail steamers, and will invite tenders as soon as the time appears favorable. There has been a slight Improvement in the outward trade, hut it Is still very poor. The homeward trade is greatly bound up with the outward current. The rates afe to a great extent unremunerative. The passenger trade is satisfactory, every outward vessel being fully booked. WORLD’S WHEAT HARVEST. Rome, Oct. 10, The International Institute of Agriculture estimates the decrease in the wheat yield of Europe, not including France, Germany, and the Serbo-Croat-Slovene State, whose figures are not yet available, at 13 per cent, below 1921. North Africa’s decrease is 32 per cent., and India, Canada, and the United States show an increase of 17 per cent., thus compensating for the European and North African deficiency. It would appear probable that the yield of the whole Northern Hemisphere will at least equal that of 1921. AUSTRALIAN WHEAT. DROUGHT CAUSING ANXIETY. Sydney, Oct. 11. She agricultural editor of the Daily Telegraph sounds a note of alarm regarding the New South Wales wheat harvest. He says it is estimated that 3,202,000 acres have been sown for grain. The absence of spring rains over a great part of the wheat belt threatens to cut the possible harvest down by one-third or one-half. He adds, that a break in the weather new, with sufficient rain, would unake a thirty million bushel harvest possible. With, the continuance of the hot weather now prevailing -twenty-five millions may not be realised. In some districts large areas are already beyond recovery, and others are in a precarious condition. In the Riverina and south-west, which will account for rather more than half the total, the outlook is for bumper yields to half crops. BRITISH STEEL INDUSTRY. London, Oct. 9. Mr. Albert Peach, chairman of the United Steel Company, in a speech at the annual meeting, said an important factor in connection with the loss of £505,531 last year was German competition, while the French and Belgian?, owing to the exchanges, secured orders which would normally come to Britain. T’nless the railway rates and txation could be reduced, the consequences to the industry would be most §erlous. There was now more trade with Britain. Inquiries indicated that much work ought tq be placed soon. AMERICAN BOND ISSUE. Washington. Oct. 9. The Treasury has announced the issue of bonds for 500,000,000 dollars for the purpose of refunding the American war debt bonds which mature in 1952, and can be called in 1947. Interest is at 4% per cent.

Permanent link to this item
Hononga pūmau ki tēnei tūemi

https://paperspast.natlib.govt.nz/newspapers/TDN19221012.2.7

Bibliographic details
Ngā taipitopito pukapuka

Taranaki Daily News, 12 October 1922, Page 2

Word count
Tapeke kupu
537

COMMERCIAL. Taranaki Daily News, 12 October 1922, Page 2

COMMERCIAL. Taranaki Daily News, 12 October 1922, Page 2

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