AUSTRALIAN NEWS.

Waikato Times, Volume XXXII, Issue 2580, 24 January 1889, Page 2

AUSTRALIAN NEWS.

(By Electric Teleorapii—Copyright.)

Sydney, January 22. Mr.T. P. Garvan, the new Colonial Treasurer, states that besides shifting to the credit of the consolidated revenue the trust funds, amounting to £2,100,000, which have been spent, the pnblie account is, in addition, overdrawn to the extent of £1,200,000. Me declines to pay salaries unless fund? are provided to meet the necessities of the State.

The Herald says there is no cause for alarm. It considers it is Mr Garvan's duty to reduce the deficit, and urges retrenchment.

The heat is still very great, and crops are suffering severely. The election campaign is now in full swing, and is creating considerable excitement. Freetraders and Protectionists are straining every nerve to secure a majority.

Mklboukxe, January 22. It is understood that at the next meeting of the Federal Council the constitution question will be further considered, with a view of broadening its basis. It is also thought likely that the question of the supremacy of the foreign powers in these seas will be discussed.

The bank returns for the last quarter are unsatisfactory, showing a serious falling oft' in deposits and further diminution of cash reserve.

January 23. The well-known shipping firm of Huddar and Parker has been converted into a company with a capital of one million.

Sir Henry Loch and family leave for England about March, on six months' leave. During their absence, Sir Win. Robinson, Governor of South Australia, will take the oHice as Acting Governor.

Brisbane, January 23.

A heavy rain storm passed over the colony yesterday. A cyclone travelled through many districts ou the Richmond Down. Several buildingss were demolished and two persons injured.