AUSTRALIAN NEWS.

Hokitika Guardian, 24 December 1927, Page 2

AUSTRALIAN NEWS.

(Australian & N.Z. Cable Association.) SUGAR OUTPUT. BRISBANE, Dec. 23. In bis annual report, the Director of Experimental Stations states during the last three years over £5,0000,000 has been received in Australia by the export of sugar and £0,000,(MX) has been paid annually ill wages. The estimated yield of raw sugar in Queensland for 1927 season was 483,000 tons.

FEDERAL tariff. SYDNEY, Dec. 23. According to the “ Daily Telegraph ” a stalemate has been reached in the Federal GoveTiiment’s negotiations with New Zealand, in connection with increased customs duty on butter. Some weeks ago the Federal authorities asked the New Zealand Government to concur in increased duties. New Zealand objected and demanded a full six months’ notice according to the tariff agreement. The Federal Government, having granted a similar concession t > New Zealand with regard to wheat an 4 Hour, was optimistic that the six mouths’ notice would be waived in regard to dairy produce, enabling t’ne new duties to operate from the Ist January.

It is now tinder consideration that two Federal Ministers proceed to New Zealand and place the position before the Prime Minister with a view to securing a compromise. It was in anticipation of a full duty coming into operation at the beginning of the year that the stabilisation committee raised the export bounty, under the Patterson scheme, from threepence to tourpence per pound as from the 12th, while New Zealand butter is admitted here on a threepence per pound duty. The Australian price for local consumption cannot lie stabilsed at a rate that will yield the producers an adequate return, to secure which the organisations of the dairy industry have been working. For the time being, the position as it affects the Australian dairyman and the price he receives for his product, is uncertain.

WOOL EXPORT. SYDNEY, Dec. 23. The wool export season is now at its peak. Nearly half the Australian clip lias been shipped. Statistics show that 947,597 hales valued at 22} millions sterling have been lifted trom Australian ports for Britain and tho Continent since August. Although foreign shipping companies secured most of the largest individual consignments, British lines lifted the greater part of the clip to date. Twelve British lines have secured 518,000 bales worth nearly £14.000,000, while vessels of six foreign companies have taken 300,000 bales, worth £8,000,000.

The approximate amount of freight earned by British vessels is £872,000 and hv foreign ships £549,000.