AUSTRALIAN NEWS.

Hawera Star, Volume XLVIII, 29 August 1924, Page 9

AUSTRALIAN NEWS.

CREDITS FOR. WOOL BUYERS. BY CABLE—I'RESS ASSOCIATION— COPYRIGHT Received Aug. 29, 10.35 a.m. r , . SYDNEY, Aug 29. Credits which have been issued by the Australian banks in London on the hanks in* Australia to British and foreign wool-buyer s contain an option elahse which retains for the hanks the right' to negotiate if they so desire for an amount less than the full amount of the credits. If put into effect this would be a rationing of credit. It is repotred in wool circles that the option clause is being put into operation and action taken because the banks have not succeeded in convincing the Notes Board that additional notes should be issued, or, if issued that thev should be ‘lent on reasonable terms, 'if relief is not given, the fact that there will be less money available for purchasing will have an easing effect on wool prices and will probably result in the limitation of offerings. RE-EXPORTS BILL. SYDNEY, vYug. 29. The Senate' read a third time the New Zealand Re-exports Bill. SHIPPING.. NEW CASTLE, Aug. 29. Arrived —Koromiko, from New Zealand. MELBOURNE, Aug. 29. Arrived—Rawatiri, from New Zealand.