OUR SYDNEY LETTER
THE RAINS. During the last few days Sydney and tile neighborhood Ita-ve been deiug'ad with rain. Jhe inconvenience has been tempered. however. by the reflection that tha interior, which needed it so very badly, was receiving some benefit. In the north and west muck good has been done. Sonia wheat paddock? that were on the point of entire tail tire will now yield tomething. and in other cases improvement is looked for. Unfortunately, Kiverina. has not benefited. It is very seldom that a uionsoonai rainstorm, such as that which is now expending itself, visits the southern and south-western parts of the State. Ilia rams which do most good there come from the south and west, and this year they have failed to nut in an appearance. If it were not for Government interference, we might now probably count on halt a- crop. As it is. much wheat, that otherwises would be saved for grain will be cut for hay. Another instance of good intentions frustrated by blundeiing. Tin-: HANK RETURNS. Only a month of the quarter coveted by the bank returns iow made public was a tier led bv the war. and the returns t-hem-,-eKe.-. give the weekly average, not tin* position at any gi\en date. Nevertheless, ilie figures aio "i considerable intcresi. They show a sironger position in regard Pi cash holdings than in the previous quarter, but, as may be expected, a decline in deposits. 1 ii-- npei aliens ol the. Governmem, by themselves, would almost ha sufficient to account- for the very solid increase- under the head of “advances.’’ A study of the flumes leads to the conclusion that the banks have transferred to this side oi the globe some of the cash which they held in London. The financial position in Sydney, it is- worthy of note, is much stronger than that which obtains in AleJhourne. the. rash holdings being very much larger. TELEPHONE CHARGES. One of the pleasures to come will almost certainly be an increase in the charge for the telephone. It is said that, on the average, ilu- department is losing £1 a year on every instrument iu use. That is not fair to the people who have to pay iupiper. On the other hand, large users find their bills yen' heavy on account of the i number of calls which they have to pay for. Some expect that the rent charge i for the instrument will be raised from £4, jat which it now stands, to £5. bin t-bai a I libera! mat gin of free l calls will be allowed. 1 THE WOOL TRADE, I Theic is a serious difference of opinion among the influential firms which conduct the wool trade of Sydney. At the outbreak of the war, owing to the absence of German buyers and the disturbed eondi- | lion of trade in Britain and France, growI ers were- advised, as far as pra-ticabie. tei store their wool iu the country until limes i should improve. It -was pointed out that i it would be impossible to find storage in j Sydney for so largo a proportion 01 the I clip as would remain unsold, and (hr cost I o! storing v onM also be a considerable j item. In their desire to prevent the mar | kd from being Hooded with woo] under j unfavorable conditions, which would, of I court-,?. brc.ij; down prices, lie' a-mOciated brokers haw- trenchantly curtailed the rial-agues which they intend to offer this week. They have also interdicted pvirate--clling rmusidc of the am f ion room. Iu soir-o rerpccta il so m.s that an unduly pessimistic view was taken of tln--ituaticn. f,-r at auction salrs of wo-d Judd in Adelaide cn Thursday last there was goo*l competition, and prices wine much better than was anticipated. On the other hand, as a "war" pric.i ut ion, Am Rritrdi Government have found it net -s,-ary to prohibit tin- export of woollen yarns and of woollen labrii .-nitalic ioi military us«
< xecpt to ilritish Dominion;- . r dcpendcn . ms. This is- < xl'm rli 'l Id v. “liken tile <K*mend fran York'-hire buyer*. The On operative \V*ioi and lh-odiu.c Company, v.lmw chan-holders are prim ip,illy woole.'imvn-. .11“ in favor of n more spirited polky. Hu; directors. although they are inn bi'f.akiiig a'.ray from the arrangements ma,(Jc hr (hm a a i;it< (I brokers, consider lmu more ‘liberal catalogues might he r I'ivt'i d with advantage. and that private, -.idling, within n asonabk- it mils, should lx- allowed, 'lTicy < lain) to have sold byprivate trealy over 5,000 halts since the e, .1.- began. and expected to sail a gloat i).-al more. Tiioy coniddeivd tin- policy of st.oi ing in ilm country a mistake, and pave tit;- Flora.* to their clients, which mart law aven i hern a great advantage in competition. ISayor.- also Inue a grievance against 1 j-wn whir hj hat been lived fi.r .-a!'-; in 1 1; i• m-voial h't.ites, so that ali -j. (In i tin’ outlook for a harmonious saa--:,!i b not 100 good. Di-eat public in- ; or-ts an linked np with tec disposal of tj;.- .lit), rind it would he a pity if it were prijiHiced by any display of pragmatism •j, i '1!-' sob' ni t\ lC nor. SHIIKWi) OI’KH.'.TOIiS. A policy whu hj • Iffa premium tf stun r* i.peiators i« liable to serious objeeI jo;, A few miller* who were fortunate enough to oa an ore i l '., of wh“at at 4s 2d per 'bushel from tic 1 shmh.s ■ which were. < ojiliseatcd bv the Government have the I'uiph r:f their i< -.-s f*>»t«ii(at*» or slower ioni])<-lilors. who have mew to pay 4s 6d I“r "imsliei. in i on*eipi<-n.-|. of tli' l raising of the, prie-> by the (’ominissiott. Similarly the sh j'ewd bakers who rushed to buy all the (lour iiiev amid get hold of at £9 10s per ton. th- price first proclaimed. are in a imicii more tavorablc position than those; v, ho have now l-i pay £9 3Vs 6d. according to the iaur derision. There is no reason in o“ Ii “ v l ’ that anyone was favored by • n i'- ni;< '-mation of the intentions of the I.voi nmen; or of the Commission : bur. so long as prices are arbitrarily iixed a.nd arbitrarily varied ’ims.> who coin ;■ oil second-best in them dca liner ta l oo ; oirn nod mice affocied at.- lain to say nnpic.-munt things. Attention i- now fixed on : fie. p.iioe to Ik- powlo-inied fur tile new prnin. wliicli by tin- second pro- ilunation lias been exempted from its operatini*. Manv fanneim v .-iil oil their crop for hay rain l r than stiff*-!- dictation in Hie mallei o! iirioe. October 2ti.
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OUR SYDNEY LETTER, Evening Star, Issue 15637, 30 October 1914