AUSTRALIAN NEWS

Hokitika Guardian, 27 September 1930, Page 5

AUSTRALIAN NEWS

A FIRE. (Australian Press Association.) SYDNEY, Sept. 26. Five shops and residences were burned in the main street of Ganmain in southern New South Wales. The damage is estimated at ten thousand sterling. Canmain lias no brigade, the nearest one being at Coolanion. an adjoining town, which wasted half an hour in telephoning to the (headquarters at Sydney asking for instructions. MUNGANA LEASE. ' BRISBANE, Sept. 26. The Royal Assent has been given to the new Crown Remedies Act, which will pave the way for a civil action against Mr Theodore (late Federal Treasurer) and others for the recovery of money alleged to have been paid for the Mungana mines. •. IRON WORKS CLOSE DOWN. SYDNEY, Sept. 26. Lysaghts Newcastle works are closing to-day. Nine hundred men will be thrown idle. The works were employed chiefly in the manufacture of galvanised iron. ■ ' '■ PREMIER BAVIN. xx:

(Received this day at 9.40 a.m.) SYDNEY, Sept. 26. Premier Bavin declared that if the Melbourne conference agreement was repudiated by New South Wales, financial and economic results would he a national disaster. Those who retained employment in the event of such a disaster would have to accept heavy reductions of salaries and wages. All Governments were agreed that unions this agreement were adopted, it would he impossible for Australia to meet its obligations in London. Further it would ibe impossible for the Governments to find money in Australia to meet their obligations even for salaries and wages within a very short time and the making of this agreement therefore saved "Australia from a crisis, which all Premiers admitted imminent. If that crisis happened nothing was more certain than that there would be immediate chaos, not only in Government finance, but in private industries. The result‘would have been a financial panic,' and .for every one man unemployed to-day there would have been ten or twenty.