AUSTRALIAN NEWS.

Taranaki Daily News, 5 January 1922, Page 2

AUSTRALIAN NEWS.

AN AMALGAMATION REJECTED. By Telegraph.—Press Assn.—Copyright. Sydney, Jan. 4. The shareholders of the Pastoral and Finance Association refused to ratify the amalgamation scheme, and instead decided to invite tenders for the purchase of the business, whereupon the Co-operative Wool Company withdrew from all negotiations. It is understood that the business will be secured by the New Zealand Loan and Mercantile Agency Company, Limited. SEA STILL ROUGH. Sydney, Jan. 4. The sea is moderating, but arriving vessels report a rough time. The fruit crops suffered severely from the storm. BADAK MINE CASE. Melbourne, Jan. 4. Orton, who was arrested in connection with the Badak mine case, was remanded till the 10th, on bail of £5OO, with a personal bond of £5OO. A GLASS COMPANY. Melbourne, Jan. 4. Australian Glass Manufacturers, Ltd., is calling a general meeting of shareholders on January 9, to sanction an amalgamation with the Zetland Glass Bottle Works, Sydney. The new company will have a capital of two million, in, 175,000 preference and 1,825,000 ordinary shares. GERMAN SHIPPING LINE. Sydney, .Jan. 4. The German-AustriLlian Steamship Company proposes to resume the service to Australia immediately the embargo against German trade is removed. SYDNEY BANKRUPTCIES. Sydney, Jan. 4. During the year 304 bankruptcy petitions were .filed, as against 344 in 1920. FAIR RENT COURT. Sydney, Jan. 4. Applications lodged in the Fair Rents Courts in 1921 totalled 1125, and 50 per cent, succeeded. Reductions of from 6d to 19s 6d were allowed in 278 cases and increases from Od to 24s Gd allowed in 270 cases. THE QUEENSLAND DEFICIT. Brisbane, Jan. 4. Revenue for the half-year was £5,256,000, against £5,456,000 in 1920. The expenditure was £6,265,000, compared with £6,086,000 in 1920, a deficit of £1,009,000, against £629,000 in 192.0. ENGINEERING WORKS RESUME. Sydney, Jan. 4. Most of the engineering establishments have resumed work, the Clyde works being the exception. The foremeiT of the staff and the employees in the office have been given a month’s notice. Work was resumed yesterday on all the coalfields. Voting on the nine-day fortnight commences next week, when defeat of the proposal is anticipated.