AUSTRALIAN NEWS.

Taihape Daily Times, Volume 7, Issue 175, 29 March 1915, Page 2

AUSTRALIAN NEWS.

SEARCH FOR PETROLEUM. CHANCES OF SUCCESS SLIGHT. ; Press Association —Copyright. ADELAIDE, This Day. Doctor Arthur Wade, after spending five months inspecting supposed oil bearing, areas in South Australia, reports that the chances of obtaining a supply of petroleum in districts under consideration was very slight. AUSTRALIAN PARLIAMENT. FURTHER PROROGUED. t . .J.'.1'.,-- -■ I SYDNEY, This ..Day.:. Parliament has been prorogued from April 9th to April 13th. MEAT EXPORTERS’ COMPLAINTS. SYDNEY. March 2(5. Moat exporters complain of losses on private contracts through the Government’s requisition, and have asked the Imperial Government to favourably consider an application for compcnss tion and the cancellation of contracts made with the Allied countries. PREMIERS’ CONFERENCE. SYDNEY, March Act. It has been definitely decided to hold the Premiers’ Conference in Sydney ow May 10th. VICTORIAN WHEAT YIELD. (Reed. 10.35 a.m.) •MELBOURNE, This Day. Official figures in connection with the Victorian wheat crops show the a,.| jrogate yield to be 3,940,947 (sic) bushels, as compared with 32,930,245 last year. COLONIAL SUGAR COMPANY. MANY IMPORTANT CHANGES. NEW COMPANY FORMED, SYDNEY, This Day, The chairman of the Colonial Sugar Company stated on March 31 tfcat half the Company’s business was outside the Commonwealth, which represents 3J millions. The proposed new company will have preference shares issued to that amount, the parent company subscribing 250,000 ordinary shares to provide working capital. Preference shares will be distributed to shareholders at the rate of each receiving one £2O share for every share now held. Shares thus allotted In the new company will' carry a six per cent, cumulative preference dividend, which will take precedence of any other dividend on ordinary sliareg held by the Australian Company. This 8 per cent, preference dividend will not be additional to the phasent income but will be drawn therefrom. Shareholders haVe no reason to suppose the proposed division of assets will bring more profits for distribution. It is net proposed to alter control, The same Board of Management will work the separated businesses. As the interests of the now company will ba ia.iger in Fiji than in New Zealand registration will be made in the for3'r place, but prc-Yi ;icn will be made %r share ihgislrath a in Sydney, Suva, n<l Auckland, and dividends will bo djtaiiisbls at any Australasian branch. Allotment cf shares will be mad 3 in May and June. An Aldershot man wr> c fined 21,' | ofusing to obey -ljo mder o.f a wuhv. i Vn officer who gave evidence said that j the sentries now had orders to lire if I their' challenge wins not answered. Mr. J. Read, secretary of the United Federation of Labour, states that the ] principal question of the Congress of i LtT.o.ir to bo held in July will be the ; way in which the war lias attested labour in the Dominion. j Mr. T. E. Y. Seddon. A1.1’.., second ; son of the late Right Horn R. J. Sod- | don, was Inst week admitted as a bar- ■ rister and solicitor of ihe SupremeCourt, on the motion of Sr John Findlay, K.C., before Tis Honour Hie Chief Justice (Sir Robert Stout). A new form of currency, says the Berliner Zeitung, has boon introduced ! in the German army. Ordinary coin j lias ,lost its value now Hint it is impossible to buy anything in H e \ illagcs at Hie base, and cigars take the place of money, A piece of sausage as big as a hand co.its four cigars, a j»aI•• of warm gloves or a flask of cognac thirty cigars. Muddy boots arc cleaned for two cigars. . At a meeting' of Southland farmers, the following resolution was carried, on tlio motion of Mr. John McQueen: — "That this meeting entirely disapproves of the Government’s action in prohibiting the exportation of produce; that it is an anwarrantable interference with the farrier iii (he carrying out of their business, as it will tend to discourage Hie growing of cats, and create; a worse evil than exists now. ’ ’ WANTED Known, SLYFIELD’S, Direct Importers, have opened a sample Room adjoining Nicholls’ Picture Theatre, and can supply the latest quality for little money. Participate in the values*.