AUSTRALIAN NEWS

Hokitika Guardian, 15 March 1930, Page 5

AUSTRALIAN NEWS

BENEFICENT RAINS

(Australian Press Association)

(Received this dav at 8.30. a.m.l SYDNEY, March 15.

Splendid rain has fallen in the agricultural and pastoral areas of Australia during the last week. South Australia and Western Australia received a good drenching in the early part of the week, since when 15ctoria and Tasmania, and now New South Wales, have benefitted more or less substantially. The wheat belt in Victoria reports are most encouraging. The changed outlook has stimulated business. The inland portions of New South Wales have not yet fared as generously as the coastal districts, which are getting a proper soaking, but indications are present that, the disturbance is likely to extend over all parts of the State.

AUSTRALIAN TOBACCO

CANBERRA, March 15

Giving evidence before the Parliamentary Select Committee, which is inquiring into the tobacco indnstiy, Sir George .Julius, Chairman of the Council of Scientific and Industrial Research, said there was no reason whatever why tobacco could not be grown in Australia. There was no truth in the complaint that the Australian tobacco leaf was spoilt by a eucalyptus taint. The greatest enemy was blue mould, and officers of Ids'department were definitely on ilie track of the solution of this trouble. They believed the mould was seed borne.

STOCK EXCHANGE RIGHTED

SYDNEY, March 14

A decision has been taken by’ a joint meeting of tlie Stock Exchange Brokers to profit forward selling when available. This is welcomed by the small investors here, and the conditions of the Sydney Stock Exchange are now practically back to normal. ft- is estimated that some of the “Eenr” leaders have reaped a rich harvest of many thousands sterling in the “bear” raid which began after Xmas and was continued right up to a fortnight ago.

There is also a precentage of bears who have lost heavily.