GENERAL NEWS.

Mataura Ensign, 27 January 1911, Page 6

GENERAL NEWS.

The Argentine correspondent of the Christchurca 'Press' states that many of the North American capitalists interested in frozen beef, are not o.iiy trying to dominate the industry there, but are aiming to form a gigantic international trust which wdl cu.i.race some of the principal linns in this country. A taLgram was received from Washington tee other day annouiic.ng Ims project, and it created considerable excitement amongst tho.-.;e interested in the trade in the Argentine. 'I he object appears to be not only to dominate the preserved moat markets of the United but also tlio.se of Kurope. The Invercargill City Council at its meeting on Thursday evening accepted tenders for the construction of the tramways. Tim ,\ork was divided in such a way that no less than 15 separate tenders were accepted for the supply of material. The National Electrical and Engineering Company, of Dunedin, .secured the largest share of the wuvk. their fire accepted ienders aggregating close on £23,000. The contiact lor tho permanent way matt rial fell to the firm of John Duthio am! Company, Wellington, at £lO,-6-I,'J. Boor, and Company, coaclibuiiders, of Christchurch, have the contract for the construction of the cars at £5255. The ac-' cepted tenders aggregate tho stun of £53,451 15s Bd, or £612 15s 8d above the estimate. "there are many places in the Dominion where it is out of the question for the Department to erect expensive telephone lines, but which could be very well server] by the settlers associating together and erecting lines with their own materials," stated the Post-master-General (Sir Joseph Ward) at Stratford on Thursday evening. "Wherever associations of settlers are formed for this purpose the Government will in future make a grant in aid according to the importance of the line and the number of settlers likely to be served by it. Those settlers who are willing to subsidise the Department's lines will also be materially relieved." He proposed that the Department should assume half the risk of loss and that would reduce the subsidy required by one-half." Speaking at Stratford on Thursday evening regarding wireless telegraphy the Prime Minister stated that after lengthy and troublesome negotiations, a satisfactory offer had been received for the erection of two high-power and five low-power wireless stations. One high-power station will be erected at Doubtless Bay and the other at the Bluff. Each will be capable of keeping up communication with Australia. The low-power stations will be erected one each at Gisborne, New Plymouth, Christchnrch and Wellington, and also one on board the Government steamer Tutanekai. "The high-power stations," continued Sir Joseph Ward, "will be independent units staffed by special staffs and remaining open day and night. When the proposed stations are erected every corner of the coast and the, ocean surrounding New Zealand within a considerable radius will be within the field of our wireless telegraph system. I am glad to be able to say that the cost of working will be reasonable and well within expectations." In a reveiw of the Dominion's finances at Stratford last evening the Colonial Treasurer (Sir Joseph Ward) remarked: "We are to-day in a distinctly strong position financially, and I think I can without egotism claim that I have always kept the financial condition very sound indeed." The Prime Minister recalled the recent announcement that for the nine months ending December .'!! | last the revenue of the Dominion had increased by £703,272 in comparison with the corresponding period of 1909, and that the revenue for the year showed an incerase of £848,923. The actual ordinary revenue (including territorial revenue) received for the nine months wsa £7,148,582, while the expenditure for the Consolidated Fun-' 1 was £4,034,971 and for the PublicWorks Fund £1,281,297. This brought him to the question of ways and moans, especially the question of borrowing. Quite recently a loan of £5,000,000 bad been floated, and he wished to direct special attention to the manner in which the money had been apportioned. It was as follows: Naval defence account. £1,250,000; Public Works and Land Settlement Account, £1,750,000; Advances to Settlers, £1.675,000; Advances to Worker;, £325,000. Speaking on financial matters generally the Prime Minister said he was of the opinion that wo could not do without borrowing just yet. It could, of course, bo done without easily enough.: but it would involve either the abandonment of the present policy of development or the taking of slops to provide for our public works expenditure by imposing fresh taxation to the extent of £1.500.000 or £2.000.000 ; per annum. The proper and wisest courso was to borrow what was reasonably required for development purposes and spread the repayment over two or three generations. The Advances to Settlers and Workers Offices were now well in funds and during tho past voar had lent £1,329,000 to" settlers 'and £JOS,OOO to workers. Since"the inception of thesvstom tho Department had lent £?0 25 1. W.) in settlers alto- c!„. r and £1,1.V2.t(>0 fo workers. The lull •""":>"!: of C"10"n va- now !k.;... : !. ; .i .. : . country properties, ami at ihe losi meeting of tlm Hoard it had been d->-eided to rniro the limit for town properties to £2OOO. Within a few days complete specimen plans and specifications for workers' homos would be issued free of charge. There wore IS different typos planned, the cost varying from £IOO to £750 aeeon'lmg fo size. Tn connection with loans to local bodies £195.000 was tho amount de-dt with at. tho last mooting of the Foard, while the total amount so lent sinee the Department started had been £1,552.190.