AUSTRALIAN NEWS.

Hokitika Guardian, 7 October 1927, Page 3

AUSTRALIAN NEWS.

BLOOD-STOCK SALES. (Received this day at 8 a m.) SYDNEY, Oct. 7. At the racehorse sales, on account of AV. G. Stead, Green Meadows realised 200 guineas and Stretton 240. LIBEL CLAIMS. SYDNEY, Oct. 7.

Four nwro writs have been issuer! for alleged libel in connection with the elections, making the total claims £113,000. A USTR ALIA’S TIMBERS. SYDNEY, Oct. 7. Giving evidence to the Constitutional Commissioner, Dairy tuple Hay, formerly Commissioner of Forests in New South Wales, said the total timber resources of Australia amounted to 21,500,000 acres, sixty per cent consisting of hardwood, twenty per cent of jungle wood and fifteen per cent of soft wood. The proportion of hardwood and jungle wood was sufficient for the need of the Commonwealth, but the proportion of soft wood was quite inadequate for requirements. It would have to he supplemented by imports to the value of £4,250,000 annually. He predicted there would be a timber famine throughout the world in twenty years time, when Australia would be affected more seriously than any other country unless a definite policy of reafforestation was adopted.

S.S. KAIA POL HOBART, Oct. 7. The Union Company’s steamer Kaiapoi from Bunbury to Auckland, which loaded bunker coal at Hobart in the week-end, returned to port owing to a leakage in one of the boiler tubes, which occurred 146 miles off the Tasmanian Coast. It is expected the vessel will lie able to resume her voyage to-day.

BIBLE READING DEFEATED. ADELAIDE, Oct. 7. - u the Assembly, an amendment to

the act providing for Bible reading ir State schools was defeated on the casting vote of the Speaker.

WHEAT PROFITS. PERTH, 0< t. 7. The Chairman of the West Australian Co-operative Wheat Pool stated, at the annual meeting, that the 192 G-27 season recevied 17,933,081 bushels, on which a dividend of five shillings a bushel had been paid and £26,734 re-

mained, which would probably he allocated as a dividend of three pence per bushel.

MELBOURNE, Oct. 7. Wheat is quiet and nominal Gs; flour Cl 3 ss, £l3 10s; bran £S 10s; pollard £8 ss; oats 4s 9d, ss; barley, English 4s Bd, 4s lOd, Cape 4s 2d, 4s 3d ; potatoes £B, £9 10s ; onions £3, £3 ss.

FEDERAL FINANCES. CANBERRA. Oct. 7. In the House of Representatives speaking on the debate on Australia’s financial policy, the Treasurer, Air Earle Page, said much bad been heard of the adverse trade balance of tbo Commonwealth. One reason for this, and tho poor standing of the Australian credit, was that the New South Wales Government, led by Mr Lang, had deliberately tried to defeat tbo purposes of the Federal Government and obstruct the co-ordina-tion, which the Federal Government and tho Governments of other States had tried to establish in the overseas market. To Air Lang was duo more of tho guilt for the present position than nil other Governments together. Last year Air Lang bad raised in the loan markets of London and New York, £15,000,009 which was more than that raised by all the oil instates and tho Commonwealth in that year. In that way, he had brought about a position that Australia was inferior in the loan market of the world to South Africa and New Zealand. In 1924, Australia could raise money at the same rate as New Zealand, but it could not now. If tlie Commonwealth liad raised the last loan at tho same rate as that obtained by New Zealand for its most recent loan, the Commonwealth would have obtained a. million more money for the same interest, and the same nominal amount of debt created.

(By Telegraph—Per Press Association. MURDER IN BUSH. MELBOURNE, Oct. C. An Italian ferncutter, named Antonio Excrecti, was found in a lonely gully at Abshott, in Gippsland, shockingly mutilated, with two blood-stained fernhooks beside him. He died before he could be removed to the hospital. The ganger in charge of a number of Italians engaged in ferncutting, stated that he missed Excrecti and another Italian. He searched for them, and he came upon the deceased. It is surmised that the two men entered the gully, and that, after a dispute, a desperate light, with fernhooks occurred. The police are scouring a heavilywooded district for the missing man. A man has been arrested in connection with the death of Excrecti.