AUSTRALIAN NEWS.

Hokitika Guardian, 6 March 1928, Page 3

AUSTRALIAN NEWS.

(By Telegraph—Per Press Association.) \ ICTIIRIA N !■ I NANCES. (.Received this day at 8.50 a.m.) MELBOURNE. March b. Speaking at a dinner tendered to member' ol the State Ministry. Premier Hogan said closer settlement finances had been investigated and in all probability the people of Victoria would b.e faced with a loss for the past eigiil years of eight millions sterling <m soldier settlement, without any provision living made to meet that loss, witii the exception of seventy-live thousand yearly. Referring to the unexpected deficit on the railways, Mr Hogan said interest amounting to three and a-liall millions yearly had to he met. 11 the people did not use railways and patronised private enterprises instead they still had to meet that interest bill. VICTORIAN RAILWAYS LOSS. -MELBOURNE. March G. The Minister of Railways (Mr Tun„i( lill’e) said the Railways Department was in a serious position. The actual deficit for the year would lie about two millions, owing to the had harvest from which the Department »•>■’ deprived of revenue amounting to three hundred thousand. A similar amount was lost through the absence ot return traffic. On top of that 120.00!) motor ears competed with the railways and an estimate of L 5 per year each, they represented a loss ol LiiOlbOOO.