A rise in the price of wheat to more than 4/ per bushel has en+ enraged the agricultural community and the farming outlook generally is, improving. In certain quarters, serves the National "Bank monthly summary, it Ix considered that the expansion of secondary industries, with the accompanying demand for money to purchase buildings, machinery and stocks, the larger trade turnovers with their greater cash requirements, and notable addi-ton to the amounts invested in all classes of buildings during the last year or two, have, In the aggregate, Absorbed a substantial proportion of the new savings available for investment. 'This it is held, limits the amount which "Governments can, borrow without disturbing and restricting investment in the various forms of private enterprise' men= toned.
Soon after the war signs of revolt against academic ideas appeared in Sydney and Inter on spread to Melbourne, In both capitals. there are now well-defined groups whose interest, kept alive necessarily seeondhand by: reproductions, ranges the whole field of modern pictorial ideas, although Surrealism, as yet, seems 10 have made no practical headway. The influence of these groups is being felt beyond their own circles; to a suflcient extent that a Melbourne critic recently felt constrained to bewail a succession of exhibitions of "curious" art in that city, Youth, despite the discouragement Feceives in most art schools In the country, whether private or oficial, is developing a morbid interest in the forbidden fruit of modern art, the results of which are already apparent. An exhibition of Australian art could, jin fact, be arranged to-day which would give a vastly different picture Australian from that many people at Burlington House some years ago.
The State Government of New South Wales foreshadowed in a re~ cent transaction the rise of a town and port which will be second Newcastle as a manufacturing centre outside Sydney. It has sold Australian Iron and Steel, Ltd., 1,663 eres of land at Port Kembla, 'a few miles south of the metropolis, on which the company has plans for the expenditure of between 1,000,000 and £2,000,000. Australian Iron and Steel, td., was established some years ago. "The Government about 30 Years back spent £1,000000 on a diMcutt task in the formation of a harbour, but for some reason the istrict did not progress in the way anticipated. Other works were estab lished at the port, one of which was Lysaghts' manufacture of galvanized Iron.
'The agreement made with the Government stipulates that £ 1,000,000 will be spent within ye years, 'The company, however, expects to ex: end that amount' in about three years, and the industries to be established will include pig Iron, steel, galvanized iron, galvanized iron, sheets, tin plate and tin containers, wire netting and wire nails and material for motor bodies. "An sero-drome is to be laid down and slips for seaplanes, the proposals providing for making aeroplanes and aeroplane Darts, The company has acquired in the area purchased from the Govern-Jment a lagoon with a view to developing It at some future time as an inner harbour, Lysaghts, Lid, also plans to spend £500,000 at Port Kembla.
Text read from the printed page and cleaned; old type leaves the occasional error.