AUSTRALIAN NEWS.

Feilding Star, Volume XIII, Issue 67, 3 December 1891, Page 2

AUSTRALIAN NEWS.

» IP3B UNITED PHESS ASSOCIATION. J Sydney, December 1. The Financial statement was delivered in the Legislative Assembly to-night. The estimated revenue for next year is £10,960,000, including £836,000, from the new Bystem of taxation. The expenditure is put down at £10,602,000, and it is estimated that there will be a surplus for the year of £358,000, leaving a deficit at the end of 1892 of .£231,000. The new taxation will consist of 10 and 15 per cent Customs' duties. The new duties include — Butter and bacon, 2d per pound; fish, Id; cofiee, 6d; tea until March, 1892, 3d, after that free ; timber up to 3s per 100 ft, according to its nature ; sugar 6s 8d per cwfc ; oatmeal, £2 per ton; barley, beans, oats, peas and wheat, lOd per 1001 b; flour, bran and pollard, Is per 1001 b; hay, chaff, straw and potatoes, 10s per ton ; onions, £1 per ton. Fresh fish,* New Zealand flax, kauri gum, fresh frozen meat and oysters will be admitted free of duty. Melbourne, December 2. The Land Credit Bank of Australasia has suspended payment. It owes its depositors and bankers £150,000. The County Bourke Permanent Investment Society is also closed, owing to a run on deposits. The liabilities of the society are set down at £319,000, including deposits £144,000; paid-up capital, L 167.000. The assets' at valued at £329,000.