AUSTRALIA

Greymouth Evening Star, 12 August 1930, Page 9

AUSTRALIA

[BY CABLE —PRESS ASSN. —COPYRIGHT.]

INJURED JOCKEY. SYDNEY, August 11

The New Zealand jockey, K. Voitre, who was injured in a motoring accident, is improving.

RAILWAY RETRENCHMENT. SYDNEY, August 12.

At a recent meeting of the Loan Council at Canberra, which was addressed by Sir Otto Niemeyer, an undertaking was given by some Treasurers of States that, subject to the approval of their Cabinets, they would apply to the Federal Arbitration Court for an all round reduction in wages of railway employees. The Treasurers expressed the opinion that without increased revenue, it was impossible for them to carry on the railway services, if the present rate of wages was maintained.

NO MORE LOANS. SYDNEY, August 12.

In an address on the economic situation, at Epping, the Treasurer, Mr. Stevens, said: The agreement we made with the banks means that we will not be able to raise any further loans abroad for public works and services for some considerable time, and we are thrown on our own resources for capital development. As from September next, the Governments will be required to transfer to London, credits at the rate of approximately three million sterling per month to satisfy external debts.

TRADE WITH ASIA. SYDNEY, August 11.

Attempts to stimulate Australia’s trade with the East are being macle.

At a conference between shipping and producing organisations, the Minister for Markets, Mr Maloney, stated that a. genuine attempt would be made to reduce the shipping rates on freight to the East

The Minister added that Australia’s trade for the past three years with China, Japan Hong Kong, the Netherlands, East indies, British Malaya, Siam, India and Ceylon had aggregated one hundred and thirty millions sterling. A committee was formed to inquire and report as to the best method of developing trade with’ the East.