AUSTRALIAN NEWS.

Taranaki Daily News, 25 January 1922, Page 2

AUSTRALIAN NEWS.

WARSHII-TJ LONG CRUISE. By Telegraph.—Press Assn.—Copyright. Sydney, Jan. 24. The Italian warship Libia has arrived here. She is making a world’s cruise occupying two years. QUEENSLAND BORROWING. • Brisbane, Jan. 24. It is understood that the Government is negotiating for another loan of £2,500,000 in America, redeemable in five years. A MELBOURNE LOAN RUSHED. Melbourne, Jan. 24. The Water Board’s OJ per cent, loan of £500,000 for new works at a currency of six years has been, rushed and over-subscribed. COPPER MINE TO CLOSE. Adelaide, 24. Owing to the continued depression, of the "copper market, - combined with the high cost of production, the Wallaroo Moonba Smelting Company announces tliat it is unable any longer to continue its heavy financial losses and will close down until the position improves. A large number of men will be rendered idle. WAGES AT STEEL WORKS. Sydney, Jan. 24 It is stated that the Broken Hill Proprietary Company’s steel works at Newcastle will be closed down unless a substantial reduction of wages is conceded. Thirty-three per cent, is mentioned. It is alleged that the company is at present selling its products at the cost of production. A NINE-DAY FORTNIGHT. Sydney, Jan. 24. The coal miners’ ballot on the nineday fortnight proposal closes to-day. There is reason to believe that the vote will be adverse to the proposal.