HUNDREDS DISMISSED

Sun (Auckland), Volume IV, Issue 1026, 17 July 1930, Page 11

HUNDREDS DISMISSED

STATE WORKERS SUFFER IN ECONOMY CUT

AUSTRALIA’S PLIGHT

United P.A.—By Telegraph Copyright Reed. 10.30 a.m. SYDNEY, Today.

About 590 men who were engaged on cable laying have been dismissed from the City Electricity Works controlled by the City Council. Two hundi-ed clerical workei-s in the tramway department have received notice of dismissal.

Big savings are to be effected in the tramway service and a cheaper service is proposed.

MONEY FROM LONDON

BILLS ISSUED AT STIFF TERMS

LONDON, Wednesday. Commonwealth bills amounting to £5,000,000, dated July 18, and maturing on December 13, have been placed privately in London at 4 per cent, dis count. Subsequent ti-ansactions were at 33 per cent, discount. The “News-Chronicle” expresses tha opinion that whether this forecasts long-term borrowing remains to be seen, but the terms are t'aix-ly stiff the current l-ate of British Treasury bills being 2 5-16 per cent discount, and of bank bills 2 3-8 per cent. The opei-ation places a lai-ge sum at Austi-alia’s disposal, says the paper It follows the announcement of the calling of a conference to discuss the pooling of the funds of Australian banks held in London, giving the Commonwealth Govei-nment the first call on them. tt

BUDGET PROTEST OPPOSITION IN HOUSE CANBERRA, Today. The Opposition made its first defl nite move against the Budget proposals in the House of Representatives yesterday. Mr. J. G. Latham, leader of the anti Government forces, announced that he intends to move for reconsideration of the Estimates for the purpose of re ducing the expenditure by about £4,000,000, including the salaries of Ministers and members of Parliament.

BASIC WAGE FALLS BRISBANE, Wednesday. The Industrial Court today reduced the basic wage by 5s to £4 a week. TALK OF SECESSION Reed. ll.{> a.m. PERTH, Today. Replying to a deputation which protested against the Federal tariff, the Premier of West Australia, Sir James Mitchell, said secession from the Fed oral Constitution was the only cure.