AUSTRALIAN NEWS.

Hokitika Guardian, 19 January 1926, Page 3

AUSTRALIAN NEWS.

[Australia »?• N.Z. Cable Association.]

SYDNEY WOOL SALES. SYDNEY, January 19. At tins wool sales competition was -l<een and the market opened very linn lor all descriptions at a level on a par with closing rates last week. [Amttractive wools of uneven length and doubtful yield were irregular. There V was n good demand for comebacks and crossbreds at unchanged rates, Greasy merino sold to 28.}d. ABOLITION OF COUNCIL. SYDNEY, January Ist. Following a Cabinet meeting Mr Lang announced the Government intended to adhere to plans and take steps this week for the abolition of the Legislative Council. A draft of tne legislation was ready and it only remained to obtain the verdict of Parliament. MALOJA TO RE QUARANTINED. Y PERTH, January 18. The Mnloja, due to-night from London, will be quarantined as there is a ease of smallpox aboard. SNIAFIL FOR AUSTRALIA. MF.LBOURNE. Jan. 18. Eight hnles of Sniafiil the new to-, tile, is on route to Australia from Genoa (Italy) for experimental purposes at the local woollen mills.

A BUILDING SLUMP. SYDNEY, Jan. 7

If the annual return issued a day or ./'two ago by the assessor to the Sydney Water and Sewerage Board properly reflects the position, there was a slump in the building trade in the city and suburbs during the year, although there is no evidence of it at a casual glance round the city itself, where magnificent structures are towering; into the sky in all directions. Taking the city and 70 or more suburban districts, 10,039 buildings were completed during the year and connected up with the water supply, compared with 12,180 for 1924,'which was the highest number yet recorded. The expenditure for 1925 totalled £11,587,149, compared with £14,346,071 expended .luring 1924. Taking the decade, from 1914, there was an increase in die A average expenditure per new building from £042 to £1059. Possibly the fear of Labour legislation had something of a restraining influence on building operations. If such was the case—the slump is certainly difficult to account for in a year of prosperity generally the position is not likely to improve if the Upper House is abolished, and ' the one existing restraint upon wlmt might he felt to be harsh legislation, from the standpoint of capital and enterprise, is removed.