AUSTRALIAN NEWS.

Hokitika Guardian, 10 April 1923, Page 3

AUSTRALIAN NEWS.

AUSTRALIAN AND N.Z. CARLE ASSOCIATION. BLOOD STOC K. (Received this day at 8 a.m.) SYDNEY, April 10 The record price of the present series of yearling sales was realised by a Comely King-Ramson colt, 2509 guineas. At to-day’s sales 132 lots sold for 22,500 guineas. X.S.W. DROUGHT. •SYDNEY, April 9 Since the weather broke three inches of ram have fallen in Sydney. It is still shower;.. The outlook for to-morrow’s tennis matches is not bright. So far tleie has been very little rain beyond the coastal area*'. BASIC WAGE INCREASED. SYDNEY. April 10. It i- stated that the Board of Trade has increased the basic wage from £3 18s to £3 19s. BOXING AND WRESTLING UNION. SYDNEY. April 10. Air E. E. Alarks has completed six rules and regulations to govern the Australasian Boxing and Wrestling Union, proposed hv Air Lawson at Hobart last night. The Conference will consider the project at .Melbourne in September when the Australasian championships will he held. ‘ AUSTRALIAN LOAN. .MELBOURNE. April 10.

Mr Earl Rage annmmced the Stock Exchange terms lor Ihe lederal Loan ima ar-ioii issue. IL explained that tlie Commenwealili v.a, inviting holders of five per cent, inscribed stork and Treasury Bonds, maturing' in September, to convert them into live per cent, stock. maturing twenty-live years hence. A one | 'mini bonus mi each hundred converted would al-n be paid, and interest on the conversion Inm would he immune from State taxation.

Mr Rage added that the loan of lorly-fotir millions limited in 1918 lor five vears. tin* period was too short. II ~'-need ill Scpleniuer. the unloading of such a big parrel would lar exceed Die demand for investment, and eon--(•qiu-iilly would reduce (he rates ol interest. Tim tendency tlirmtghmiL the nioiiev markets ul llie world indi-

cated a general dri-line nl the rule ol interest to 3.5 per cent. Hence he suggested that holders would be wise ill investing (in Government seeunties carrying liv.. pm' MU. f<»' ;l lengthy period. The critics of the proposal argue lliat the Government's terms; are niggardly. I f i s taking advantage of the Hooding of the market in September to obtain terms which are slightly iiniair. MISSING STEAMER. (Received (bis day at 12.15 p.m. 1 BRISBANE. April 10. 'There, are mi tidings ol the steamer

;jr Bougie* Maw son