FEDERAL PARLIAMENT.

New Zealand Herald, Volume XLII, Issue 13048, 13 December 1905, Page 5

FEDERAL PARLIAMENT.

• A TRUSTS REPRESSION BILL. IKON MANUFACTURES BILL. By Telegraph Press Association.—Copyright.(.Received December 13, 1.6 a.m.) Melbourne, December 12. In the House of Representatives to-day Sir W. J. Lyne's Bill providing 'for the preserving of Australian industries by the repression of commercial trusts, was read a first time. The Bill defines a commercial trust as a, combination whether within or beyond Australia, of separate and independent persons whose voting power or determinations 'arc controlled or controllable by: firstly, the creation of a trust or corporation .wherein the trustees or corportion hold interests, shares, or stock of the constituent /-. persons; secondly, an agreement; thirdly, a creation of a board of management or its equivalent; fourthly, or some similar means. Under the Bill competition is deemed to.be unfair if in the ordinary circumstances,.of trade it would probably lead/to Australian goods being either withdrawn from the market or sold at a loss unless produced at, lower remuneration, for labour. Provision is made for boards appointed by the Minister to investigate, and*.where proof of wilful contravention of the Act is found, a fine of £500, or six months' imprisonment, may be imposed, and, a contract may also be declared illegal and void. Any person injured by such contravention of the Act is' empowered to recover through the Courts treble the amount of the damage of such injury., The Queen Victoria Memorial Bill passed all its stages. The Manufacturers' Encouragement Bill; was, read a second time on tho voices. In committee- Sir W. Lyne moved an amendment to the effect that when the Minister for Customs certified, that the iron incustry had been sufficiently established, and las certificate was sanctioned by Parliament, the duties should come into force. He explained that when the manufacturers of wire netting or reapers "and binders- obtained.' their iron from the local manufacturers, ho would ask Parliament to' proclaim a duty j thereon. _ Mr. Joseph Cook characterised the Bill as afrivolous .waste .of time, a farce and a, fraud. No iron could be made from-Aus-tralian ore till 1907, and until produced -locally'in considerable quantities, the duties could not come into operation". - ' s ,' :. Mr. Deakin said the Government was convinced that the manufacture of iron was worth » great national Sacrifice. Any expenditure upon it would be recouped by the development of industry. Owners and prospective owners of iron works were well aware that no immediate duties would be imposed, but they had said the'passage of the Bill would be of the greatest advantage to them. The third readied was carried oa tSe voicss.