AUSTRALIAN NEWS

Hokitika Guardian, 18 February 1930, Page 6

AUSTRALIAN NEWS

CHECK ON IMPORTS.

(Australian Press Association)

SYDNEY, February. 16

Owing to the depletion of Australian funds in London tlie banks have again been obliged to raise their rates for drafts by another ten shilling per cent., which will operate froni tomorrow. It will now cost the importer 62/6 more per cent, premium to transfer credits from Australia. to London. This eh age is the highest for years, and it; is regarded as being prohibitive. it will tend to check imports, as, no doubt, it is Intended to do.

DR PELTZHR’S INTERVIEW

SYDNEY, Feb. 17. Doctor Peltzer interviewed, expressed surprise that his remarks while in New Zealand concerning Australian conditions and development had been so misunderstood. He spoke only as a student of economics and with all the fervour of one wishing this country well. Australia was one of the richest portions of the world hut should cut down borrowing on a large scale until they could see the possibility of repayment during prosperous times.

OBITUARY

MELBOURNE, Feb. 17. Obituary.—William Thomas' Appleton, managing director of Huddart Parker Ltd., and Chairman of the inter-State Shipping Board. (

REWARD FOR DISCOVERY OF

MURDERER

SYDNEY, February 17. The State Cabinet has offered a reward of £250 for the discovery of the murderer of the Italian, Dominico Belle.

THE TOLL OF THE MOIOR

SYDNEY, February 17

Eleven persons killed in car accidents in Australia during the week end, and at - least five others were critically injured. Lois Crowley, aged six, is dead and makes the fifth victim of the level crossing accident near Werribee cabled this morning.

WOOL SALES,

SYDNEY, February 17

At the wool sale to-day tlie offerings were 9125 bales, and those sold were 8443, also 410 privately. Th"" was keen Japanese and Continental competition, with good support from Yorkshire. The market was firm at last week’s level of values. Greasy merino fleece sold at pence.

WAGE CUTS ASKED

SYDNEY, February 17

Owing to ■ the “distressing condition” of the wool industry in Australia, the Graziers’ Association Central Executive have decided to apply to tlie Federal Arbitration fourt for a variation in • the- industrial award which covers the shearers throughout. Australia,-excepting Queensland. Tt is claimed.;'that' wool wasclfeing * sold below the cost of production.