AUSTRALIAN.
fAUSTRALIAN CC N.Z. CABLE ASSOCIATION]
NEW SOUTH WALES FLOODS. SYDNEY, July 1. The floods have caused extensive dafnage in the north-west districts. Over 100 mileß of country is now under water. Reports from the drought areas show that one result of the splendid rains is that there is a goodly number of lambing ewes. Other sheep, which are too emaciated to stand the wet and cold are dying. V rCTORIAN POLITICS. MELBOURNE, July 1. The Victorian Parliament has opened. The Lieutenant-Governor's speech urged an increase in the wheat acreage of Victoria ,but anticipated good results from tho recent rain. It was stated that heavy revenue receipts assured a surplus at the end of the year. It was announced that negotiations were proceeding for the renewal of a six million loan in London, that is maturing in October. The legislative programme is colourless. SYDNEY FINANCE. (Received This Dav at £.45 a.m.) SYDNEY, This Day. A recent feature in financial circles has been the investment of a large amount of new capital and formation of several new industrial companies. It is announced two banks are also seeking to increase their capital, while a leading firm is being reformed with increased capital of a million. Several others are making substantial increases in their working sinews.
COMMERCIAL. MELBOURNE, This Day. Hides, medium and heavies are a far. ’ thing to halfpenny dearer. Kips are ' firm at late rates. N.S.W. DEFICIT. 'Received this day at 9.20 a.m.) SYDNEY, This Day. New South Wales State deficit amounts to £2,804,000. i ! Serious floods continue damaging the • crops and drowning stock. Conditions are still unsettled. i
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Hokitika Guardian, 2 July 1920, Page 4
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268AUSTRALIAN. Hokitika Guardian, 2 July 1920, Page 4
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