SOUTH AUSTRALIA.

Hawke's Bay Herald, Volume XXX, Issue 10010, 7 June 1895, Page 3

SOUTH AUSTRALIA.

(Received June 6, 10.15 pan.) . Adelaide, Thursday, <t** A new local loan of £311,000 at 3J per cent, issued at par, has been floated with great snccess. The amount tendered for was £719,000. Parliament opened to-day. The Governor's speech stated that the estimate of revenue was not realised in con* sequence of a falling off Id railway, Customs, and lands, bnt) the outlook was good, and the rise in prices of prodncts promised permanent prosperity. Kegret was expressed at the unavoidable delay in the Federation movement. A proposal would be made to farther reduce the Governor's salary and emoluments, and for strict retrenchment in the publio departments, in order to avoid farther taxation. A measure would be introduced for the cons-u iiiatton and conversion of loans, aisißißLce to prodncersby means of cheap railway rates, subsidies to freezing works, and co-operative vineries, making early dosing compulsory, the establishment of a State Bank; and substantial law reforms. With the exception of the reciprocal treaty with New Zealand no now policy of importance had been matured. (Received Jun« 7, 1 a.m.) Fifty-Beven tenders were received for the loan, besides six which were too late. The largest was from the Adelaide Savings Bank, covering the /nil amonot, and it only receives £89,000. All the applications will be allowed in fall up to the first £20,000 ; beyoDd that they will ' get one quarter*