AUSTRALIAN NEWS

Hokitika Guardian, 18 September 1930, Page 5

AUSTRALIAN NEWS

BISHOP SELECTED. • (Australian Press Association.) (Received this day at 8 ft.nb) • . /; ’ SYDNEY, Sopt, -18. ' Rev, Neville Stuart-Talbot, Bishop j of Pretoria, .has-been chosen ate Bishop of Newcastle, in'succession to'the a--late Bishop Long. ‘v- . '“i |P AIOTORSHIP DAMAGED. . $i ' jffi ’ SYDNEY, September-18. The motorship Sheaf Holme put into Sydney harbour for repairs, after drifting helplessly in the Paoifio for 14 days owing to engine trouble. The ship was en route to . Freemantle from. Nauru, when one of the huge sixty-three inch pistons carried away. . fSALES TAX EXEMPTIONS. MELBOURNE, September 18. . : So many exemptions have been granted from the operations of the sales tax, that it is doubtful whether it will yield anything like the five millions ster- • ( ling estimated in the Budget, said the V acting Alinister of Alarkets, Mr Forde. STOCK EXCHANGES. SYDNEY, September 18. Buyers are still estimating the customary wariness on the stock ex- ; changes in Sydney and Melbourne and holders have no alternative but to accept lower prices, Leading industrial securities are still falling, also bank shares. Commonwealth Loans, on the other hand, are displaying increased activity. v . The monthly summary of Australian conditions issued by the National Bank of Australia points out that under the system of wage fluctuation here, it has not yet been possible to reduce production' costs to an extent commensurate with the general decline in the national /well being. ARBITRATION COURT. MELBOURNE, Sepember 18. After days of strenuous argument, the Full Court of Arbitration it would hear applications by the‘Rail- ’’ < way Commissioners of. Victoria., New South Wales, South Australia and. Tas- ; mania for an order setting aside the ( awards of various railway unions. , i ECONOMY ENQUIRY. ’ MELBOURNE, September 18. No date has yet been fixed for the opening of the, Federal Cabinet subcommittee to explore the whole field so far .as economies and taxation are concerned.

TREASURER’S STATEMENT.

AIELBOURNE, September 18,

The acting treasurer, Mr Lyons, stated the new taxation as well as economies in expenditure will be necessary to balance the Budget this financial year.