AUSTRALIAN NEWS

Otago Daily Times, Issue 22834, 19 March 1936, Page 9

AUSTRALIAN NEWS

FLOODS IN QUEENSLAND HUGE AREA INUNDATED BRISBANE, March 18. Widespread floods prevented twothirds of Queensland from getting its mail yesterday. The floods caused heavy damage in t the Longreach and Blackall districts. * All trains were cancelled on the Blackall line. Many properties in the district are isolated, and rations are running short. FISHERIES RESEARCH VESSEL MELBOUENE, March 18. The Commonwealth Government is arranging for the building of a fisheries research vessel for the development of Australia's marine resources. The vessel will possess modern features, including equipment for catching surface fish such as pilchards and sardines, which are a source of considerable revenue to other countries. No attempt will be made to compete with commercial fishing interests. PERPETUAL FORESTS BONDS CANBERRA, March 18. ' The Federal Ministry has now collected full information from New Zealand regarding the action of New Zealand Perpetual Forests in having converted its bonds into shares, and has submitted it to the Commonwealth Crown Law authorities for advice whether any action can be taken by the Commonwealth to protect the interests of Australian investors. PETROL TAXATION YIELD CANBERRA, March 18. (Received March 19, at 0.30 am.) In the past five years petrol taxation has yielded the Commonwealth £51,556,682, of which £12,307.850 has been refunded to the States for road construction and maintenance. Petrol taxation collections have grown from £3,738,000 in 1930 to £7,024,417 last year.