AUSTRALIAN NEWS

Otago Daily Times, Issue 22219, 23 March 1934, Page 9

AUSTRALIAN NEWS

WHISKY FOR AMERICA. AN EARLY SHIPMENT. l MELBOURNE, March 22. A consignment of 20,000 gallons of Australian whisky is being shipped shortly to the United States. VITAL COASTAL POINTS. GUNS FOR PROTECTION. MELBOURNE, March 22. For the protection of vital coastal points, at least ten 9.2 in guns are likely to be obtained for the Commonwealth. This will be part of the defence policy in the next financial year. The cost will be £400,000.

RUMOURS OF AN ELECTION

SYDNEY, March 22

Rumours are current of a possible Federal election about September, but it is now understood that the electorate will not be consulted till next year. The General Secretary of the United Australia Party, commenting on the recent speeches of Dr Earl Pago, declared that it was necessary to bo ready for an election at any time, but there was no reason at present to suppose that one would come before the ordinary time.

THE COMMONWEALTH BANK,

PROFITS FOR THE HALF YEAR

SYDNEY, March 22. (Received March 22, at 10 pan.)

The Commonwealth Bank profits for the half year ended December 31 show a substantial fall, wholly owing' to the return from the note issue, which suffered from fho low interest obtained from investments in Britain. The total profit, of the General Banking Department, of the Rural Credits Department, and the Note Issue Department amounted to £519,872, compared with £715,566 for flic previous half year and £1.288,537 for the corresponding half of the year 1932. Depositors’ accounts in the Savings Department are in credit to (he amount of £120,291.950. The directors, commenting on the increase in the price of wool, estimate that the Australian wool choiiuo for the 1933-34 season will he £5-1,163,258, compared with £37,851,321 for the preceding season.