AUSTRALIAN NEWS.

New Zealand Herald, Volume XXXIX, Issue 11852, 2 January 1902, Page 5

AUSTRALIAN NEWS.

By Telegraph.—Proas Association.— TRADE REVIEW OF THE YEAR. (Received January 1, 9.40 p.m.) Sydney, January 1. The Herald commercial review says the bulk of the trade was compressed into the earlier half of the year, before the Federal tariff troubles began. It had been a very satisfactory year. Heavy stocks would be carried over, but they were mostly duty free. Trade had been conducted on exceptionally sound lines during the year. The Daily Telegraph says the year was one which evidences expansion in numerous 1 and well-defined directions, yet gave results which to some extent were fictitious. The prospects are not too brilliant for the New Year. Lower prices for many of our commodities and increased taxation are not an encouragement, apart from the tariff uncertainties. CABLE RATES REDUCED. (Received January 1, 8.57 p.m.) Sydney, January 1. Under the Cape cable agreement previously arranged, a further reduction of rates comes into operation to-day. PURCHASE OF A FIRE INSURANCE COMPANY. (Received January 1, 8.57 p.m.) Melbourne, January 1. A meeting of the shareholders of the Colonial Mutual Fire Insurance Company endorsed the purchase of the United Australian Mutual Fire Company for £44,000. SHIPPING CONFERENCE. (Received January 1, 8.57 p.m.) Melbourne, January 1. •The conference between the steamship owners and the ' Seamen's Union lias arranged that the present agreement shall remain in operation another six months. In May a further conference will discuss the rate of wages, it being understood that unless trade improves a reduction of at least 10s per month will be made from July 1 next. During the conference tho owners complained of the want of discipline amongst the men in some instances. The union promised to bring about an improvement. .

STATE REVENUE RETURNS. (Roceivecl January .... 1, 8.57 p.m.) Melbourne, January 1. The State revenue for the half-year increased £209,000 compared with the previous corresponding half. Sydney, January 1. The State revenue for the half-year, exclusive of Commonwealth contributions, decreased £2000 compared with the previous corresponding half. If the Commonwealth revenue had been included it would have showed a large increase. ;j Adelaide, January 1. The revenue for the half-year; shows a decrease of £224,000, of which £140,000 is covered by Federal expenditure. ■ HIGHLAND SPORTS. (Received January 2, 1.15 a.m.) Sydney, January 1. - .;;-.-: The Highland gathering sports were s a great success. Moir won the" 100 yds amateur championship of New South! Wales. Time, 10 2-ss.