AUSTRALIAN NEWS
CAPITAL FOR AUSTRALIA
(Australian Press Association.)
(Received this dav at 9.40 a.m.)
SYDNEY, Alay 8
Tlie State Treasurer (Air Stevens) commenting on the announcement that Swedish factories will be started in Australia this year, and on the fact that British capital is prepared to build a railwy out to a suburban seaside resort at Newport, said, the mere fact that British capitalists are anxious to invest in Australia in private industry in . some evidence of their desire to trade with Australia. The extent of their trade will depend upon the fiscal policy of the Commonwealth. I believe the inability of the Government to borrow the same amount of loan capital as hitherto, will inevitably mean the transference for private investment.
OPPOSITION TO BILL
SYDNEY, Alay 8
Bitter .opposition is shown towards the Bill to restore the 48-hours week introduced in the Assembly by Treasurer Stevens.
Air Baddeley challenged the Government to go to the country for a fresh mandate.
The measure also provides for nationalising of work and legal sanction of piece-work.
POLICE FORCE EXEAIPTED. SYDNEY, Alay 8.
Cabinet has definitely decided to exclude the police force from the wage cut proposals.
FEDERAL EXPORTS
SYDNEY, Alay 8
The . value ,of merhandise exported from the Commonwealth during the first nine months of the current year declined by nearly thirty-nine millions sterling.
The figures for the period are £73,389,000.
DEFENCE COLLEGES. CANBERRA, Alav 8
The Federal Ministry decided not to close the Royal Naval College at ■Jervis Bay or the Royal Alilitary College at Duntroon hut vigorous economies will be effected in order to bring about a saying of £4653 yearly.
GRAIN YIELD. MELBOURNE, May 8
The Victorian grain yield for K 29-30 showed a'deficiency of twenty-one million bushels, compared with the previous year’s harvest of forty-seven million bushels.
MUNICIPAL PROFITS. ' SYDNEY, May £
Sydney municipal electricity undertakings after wiping out three years deficit amounting to ninety-four thousand sterling show a profit of ninety-seven thousand to last year’s operations.
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Hokitika Guardian, 8 May 1930, Page 5
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328AUSTRALIAN NEWS Hokitika Guardian, 8 May 1930, Page 5
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