FEDERAL LABOR GOVERNMENT.

Wairarapa Age, Volume XXXII, Issue 10035, 4 May 1910, Page 5

FEDERAL LABOR GOVERNMENT.

FACE TO FACE WITH A SHORTAGE.

Received May 3. 7.45 p.m. MELBOURNE, May 3.

After.a Cabinet meeting to-day, Mr Fisher, Federal Prime Minister, stated that the papers examined, showed that the appointment of Colonel Kirkpatrick, Inspector-Gen-eral of the Commonwealth Forces, was definitely completed by the late Government. The present Government had therefore decided not to disturb it, and it would be approved at the next Cabinet meeting. Mr Fisher added that the revenue was coming in excellently, but*he anticipated a shortage for the coming financial year of 4580,000. Still he hoped to pull through without an appeal to the money market by the. issue of Treasury Bills. ,

ANOTHER VIEW.

SECRET RESERVES,

Received May 3, 10.17 a.m. LONDON, May 2

The 'Financial Times' says: "The current year promises unusual prosperity for Australian enterprises. It is becoming a question how some will dispose of their surplus revenue. Some of the Australian banks in recent years have hidden considerable secret reserves, and there will be a strong demand by shareholders for increased distribution. It will be difficult for directors to plead poverty." The 'Financial Times' emphasises the prosperity of Australia's agricultural and pastoral companies, and says it is quite probable the public's interest wi.'l sooner or later be diverted from rubber and oil to Australian securities.