AUSTRALIAN NEWS

Taihape Daily Times, Volume XII, Issue 3642, 1 December 1920, Page 5

AUSTRALIAN NEWS

THE STATE LOTTERY. , Received 11,15 a.m. SYDNEY, This day. A committee composed of the heads of all the Churches, excepting the Catholic, has issued a manifesto denouncing the Government’s announced intention of instituting a State lottery. THE FALJENI CASE. SYDNEY, This day. The sentence of death on Fallieril has been commuted to imprisonment for life. RECORD PRICE FOR WOOL. SYDNEY, This day. At. the wool sales greasy reacned the record price of 45d per pound. . STRIKE FIZZLES OUT. HOBART, This day. Hydro-electric ('construction ; strike fizzled out, the men deciding to resume under protest.

UNEMPLOYMENT. j -SIDNEY, This day. The number of unemployed in the metropolis is estimated at fourteen thousand. The Government is issuing food tickets to a thousand men daily. TAXATION PROPOSALS. SYDNEY, This day. In the Assembly, Mr Lang said the new taxation is expected to raise £1,651,000, and provides for increasing the super tax on all incomes from threepence to sixpence, the jfeompany tax from 1/4 to 2/4, and extra penny on all incomes Up to £7OO per year graduated for higher incomes, and an additional one-third for property .incomes.

THE AMATEUR DEFINITIONSYDNEY, This day. ' The Eugby Union declined to accept the amateur definition agreed to t»y the sporting conference, and hag tnstructed its delegates to oppose it at the next meeting.

VICTORIAN BUDGET. MELBOURNE, This day. The State Budget shows that the revenue for 1919 to 1920 was £ls, 432,000 and the expenditure £15,228,- ’ 000, a surplus of £203,000, The public debt at June 30th was £85,000,000. The revenmrfor 1920 to 1921 is estimated at £17,537,000 and the expenditure at .£17,371,000, a surplus of £166,000. KAURI TIMBER COMPANY. MELBOURNE, This day.

At a meeting of share holders of the Kauri Timber Company in connection with the reconstruction scheme, the Board of the hew concern, announced that after all obligations haer been discharged there remained above [the capital of £750,000 a surplus op | £150,000. It was decided to place j this to the credit of the reserve of the rfcw Company. The valuation was inclusive of shares in other companies, which were accepted at the value placed upon them by the old Company,