AUSTRALIAN NEWS.

Taranaki Daily News, 11 April 1922, Page 2

AUSTRALIAN NEWS.

COMMONWEALTH LOAN. By Telegraph.—Press Assn.—Copyright. London, April 6. There are dealings in Commonwealth scrip at 5s premium. City opinion considered the loan a great success, as there were some doubts whether the investor would take kindly to a first issue on a;> per'cent, basis. The newspapers congratulate those responsible for the fiotar tion, stating that its success should have a good effect on the Dominion’s credit. THE CRUISER ADELAIDE. Sydney, April 8. / The defect on the warship Adelaide was due to the unequal expansion of the metals in the engine-room. It is not serious, and the trials will be proceeded with on Mondays FEDERAL ARBITRATION COURT." Melbourne, April 10. • Speaking at Castlemaine, Mr. Hughes advocated the abolition of the Federal Arbitration Court and the substitution of industrial tribunals on the lines of the Victorian Wages Board, consisting of an equal number of employers and employees with an impartial chairman. INDUSTRY HAMPERED. Sydney, April 10. Following the conference at Melbourne in March between representatives of the steel workers and the Broken Hill Proprietary steel works at Newcastle it was agreed that an application should be made by the company for a variation of the award governing steel-workers to enable the industry to carry on. The company now states that nA application could be successful under the existing law to relieve the company of the present high wages cost, and the works will close as soon as the existing orders have been fulfilled. The union has asked for a round table conference. NEW SOUTH WALES POLITICS. Sydney, April 10. Mr. Dooley has announced that he will resign on Wednesday. LAND FOR IMMIGRANTS. Sydney, April 10. The Surveyor-General reports that, after a careful review, it is apparent the Crown lands will afford only a limited opportunity of dealing with the settlement of immigrants on the land in any large numbers.