FEDERAL PURSE LIGHTER
SMALLER SURPLUS SHIPPING LINE LOSSES By Cable.—Press Association. — Copyright. Reed. 10.5 a.m. CANBERRA, To-day. In the House of Representatives, the Prime Minister, Mr. S. M. Bruce, in reply to a question, said that for the six months ended on September 30, the Commonwealth Line steamers lost £243,780. The vessels made a profit on the trips to Australia, but losses on the return voyages. The Minister of Customs said the tariff during the year 1925-26 yielded nearly £40,000,000, of which only about £16,000,000 was received from protective tariffs, the balance being made up of revenue duty collections. The financial statement for the first quarter of the financial year of the Commonwealth Treasury disclosed a surplus of £155,136, compared with £2,075,000 at the same stage last year.
The reason for the decrease is that large sums were used for sinking fund purposes this year which last year were applied to the sinking fund at a later period. The statement shows that the Customs revenue for the quarter amounted to £11,265,862, which is £300,000 in excess of the estimate.— A. and N.Z.
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Sun (Auckland), Volume I, Issue 206, 19 November 1927, Page 1
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182FEDERAL PURSE LIGHTER Sun (Auckland), Volume I, Issue 206, 19 November 1927, Page 1
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