AUSTRALIAN.
{AUSTRALIAN N.Z. CABLE ASSOCIATION]
SYDNEY, Sept. 17. Tlie amateur status conference discussed the sub-committee’s report ind adopted seveal minor clauses, but the clause opposing professionals on the management committee proved a stumbling block to Cricket, Rugby, and League delegates. The conference adjourned for a month.
FEDERAL FINANCE. (Received this day at 9.30 a.m.) MELBOURNE, Sept. 17
Tlie Senate rejected by 17 to 6, a bill giving representation in the Senate (without a vote, to Northern Territory. In the representatives Mr Cook in. his budget estimated the revenue for 1920-21 at £63,364,000; expenditure £68,872,000, a deficit of 51 millions. The 1920 surplus, however, would leave a surplus of £240,000 at 30th.. June. New revenue would be derived from the following beer dutv sixpence per gallon increase, £1,258, 000; spirits 3/- per gallon increase, £300,000 ; tobacco £375,000, postal telegrams an increase of three pence all round and telephones 25 per cent ‘ncrease, total £1,333,000 income tax additional five per cent yielding £600,000. Grand total £3,766,000. The Amusement Tax has been amended to operate on 3/- tickets and over. Wartime profits tax lapses. The increase of threepence in telegrams includes a proportionate increase in press rates. The letter rate to Britain and the British Empire lias been increased to twopence. It is estimated £62,241,000 was spent during the year on. war services including £22,470,000 on soldiers land settlement, £4,500,000 in repatriation and £7,25,0,000 in pensions. In order to pay off the war debt more rapidly, an additional one-half per cent is proposed for sinking fund on war loans, making it one per cent, yielding £3,200,000, thus redeeming loans in 37 instead of 50 years. The estimates provide £600,000 for aviation, £900,000 for telegraph and. telephone construction, a quarter of a million for memorials and other work connected with those killed in the war. There will be no more borrowing for the remainder of the year except small sums for public works.
HIDES MARKET. MELBOURNE Sept. 17. Hides—Heavier are unchanged, medium a farthing lower, sloppy conditioned halfpenny to a penny lower.
WAR LOAN. MELBOURNE', September 17. The war loan was over-subscribed bv £300,000.
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Hokitika Guardian, 17 September 1920, Page 3
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350AUSTRALIAN. Hokitika Guardian, 17 September 1920, Page 3
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