AUSTRALIAN NEWS.

Hokitika Guardian, 6 July 1923, Page 4

AUSTRALIAN NEWS.

AUSTRALIAN AND ,N.Z. CAIJLK ASSOCIATION, COMMON WEA LTD SHIRRING LINE. MELBoRRNE. July 5. Mr Unite in moving the second reading ol the Commonwealth Shipping Line ilill. sc id that the lmt loss in 1921-22 was £1.171.671) and in 1922-23 the estimated loss was £1.626.160. The net loss for l ! n: whole period of existence was £2.046.<61. The hisses during the past two years had been due to the general slump in shipping throughout the world, to the linsuitahilitv of some ef the C omtuouw ealth ships for Australian purposes, and to the high rates of interest and deprecnition due to heavy capital east. Ihe line will lie handed over to the -Australian Commonwealth Shipping Board

winch v. ill he authorised to dispose n( the vessels that arc unsuitable. It was also proposed to write down toe value of the ships from C1d.700.-3:18 to fib--718.1-30. depiociution of niroc than eijtlit millions. The dehate was adjourned. COAL COXKKKKXI K. SVnXKV. .July .3. The coal conference eontinne.s its sittings ta-duy, which consider set pro-po-als lor a settlement siihmittc-l hy Mr Ouh-cs. I'KDI'll!A1. KKVKXrK. .MKI.ISOriiM-:. -loly The ( ommnnw c.dt h iwciiip- lor ihc past sear slmwed a surplus cf 1:1 .dirtyli'l- It extended the c-timalcs. by !;o. Isti.isdf) ,l,ie to customs excise reali'iu;:: I'ti-’.'Tt! no!) which i L'-3.:.’d-,-(!(I( | above an! iei p:imu -. i OMMoXVVK A i<l II KKV KN VK. M Kl.ljt)!'!’ X hi. .Inly 3. The biimiiirmvc hh revenue re.eijts are !jl>.'!.!-'07.1 "?C0 and expenditure fill'd..77!1.11C‘.b The aeeiinmii toil surplus I'm ltifilwas £7.07-1 ..300. !•''KliKil.M. Sh:\.\TK. .M l l.lior IIX !•:. July -3 I'mler tile system wlicrehy hall the Senate membership retires every ih'ie years, eighteen Senator.- ivt ire:! yesterday. Their siieees-nrs who chosen at lai-L pem-ral (lection. ioo < their places. Kleven new members itt ' Labourites, hrinoiie; the l.tihoiir roproscnl/’linn which was previously only -He, up lo a dozen. The Home of lieproseiltatives •.used the ''inkiue h'und Hill.