The sun. [volume] (New York [N.Y.]) 1833-1916, 1899-03-05
AUSTRALIA BUILDING BOOM
MONEY! INVESTED IN REAL ESTATE
b SINCE THE BANK ORTSLA.

and. me1bourno-Austrn1in's Need OF
Second Cable-Recent Features of tn
Wool Market-A New Explosive Tested
SYDNEY. New South Wales. Jan. 2o.-Durina
the last eighteen months many OF the axeC
deposits. which were locked up Mt the time o
the banking crisis In Australia six years ago
have been released. and many people. not will
ing again to intrust their capital to the banks
have invested either In land or in buildings
This fact may be put down as one reason
for the remarkable activity in the building
trades. The outskirts OF the city and. In fact
whole new suburbs. bear witness to this. and
even districts which two years ngo could boast
OF but n handful Of dwellings at most have
become thriving little Villages and townehips
Another symptom Of the movement lie found
in the demand put forward by the carpenters
and ioiners for a general fixing OF the standard
wage at nino shillings c day. It is rather diff
flcult to say accurately tn what extent this de-
mand Is justified. for judgments differ a good
deal as TO the desirability OF a hard and fast
standard icing fixed at all but II is gratifying
to see recognition that the condition OF the
building trades shows a degree OF activity from
which higher wages and fuller employment
are TO be expected. An advance In wages for
the carpenters and joiners will undoubtedly
be granted even though the fixing OF o standard
rate Is refused. for the prices OF building ma
terial are hardening. and the trades supplying
these feel the activity and profit by IL.
The industrial relations OF the colonies are
30 close and so interdependent that any great
increase Of activity In one colony. however
beneficial It might be in other respects. could
have little results in increasing thecrewards
OF local labor unless the workers In other COL
onies are similarly favored. Adcmand for la
Dor draws 1t readily from any colony where IL
is poorly employed. 80 that there 10 really but
one labor market for all the different colonies.
and only general activity can keep that mar
ket fully occupied. The activity seen in sgd
ney is also visible In Melbourne. 1t Ia said
that much Of the Increased activity IN tho
Queen City Of the South and tho consequent
demand for labor are results OF the great fire
in Flinders street, q little more than a year
ago. when an entire block. containing some OF
the largest warehouses in the city. was COM
pletely Quilted.
1t is safe to say. however. that the improve
ment in Melbourne is in excess OF what can be
due to the fire. while at the same time the read
mess Of the owners to engage in the work Of
rebuilding must be taken as indication of their
confidence In the recovery from the prolonged
depression. In any case the full employme nt
OF the men In Melbourne enables their fellow
workers In Sydney to get the benefit Of i'm
proving conditions by lessenine the eompeti-
ton to which the Sydney mon would other
wise be subject.
A demonstration OF q new explosive. which
has been named 'kallenite," and ia an Aus
tralian invention. vas made recently at o
causeway just outside the city limits. whore
extensive blasting operations have been in
progress for some time. About 100 gentle
men were present to witness the tests. among
them tho Minister OF Mines. Col. Bell. the
United States Consul. and many OF the repre-
sentatives OF the LARGEST mining companies
both OF New South Wales and Victoria. The
experiments proved to be entirely s~atisfac-
tory. Fifty pounds weight Of kallenite was
placed in four holes. and exploded by means
Of a detonator. with the result that 200 cubic
yards OF sandstone rock was disloda ed. Kali
lenite is made by combining intrated eucalyp-
tus leavesswith nitro Rlycerine and nitrate Of
potash. which produces a compound with pow
erful explosive properties. and o further ad-
vantage OF being practically smokeless and
fumeless. 1t Is estimated that this new ex-
rloslve at 40 per cent. strength is stronger
than 90 per cent. dynamite or eelignite.
The inventors have disposed Of their patent to
a syndicate. and 1t Is proposed to construct a
factory near Sydney for its manufacture. It
has also been suggested that the different
governments Of the colonies be induced to en-
SSektA4o stAS " oAiChktO . ~ CubC
Of war. consumers might not be eble to pro-
cure explosives from other countries. and the
great mining industries would consequently
suffer. From q military standpoint the pro-
duction OF this explosive would be beneficial,
for it is not expensive and Is easily manu-
fLctured.
An interval Of nearly three weeks having
elapsed since auction wool sales were held In
this market. 1t was TO be expected that offer
ings In the first selling week OF 1900 would be
heavy. and they proved to be nearly as large
as those OF any week OF the 189S-99 selling
season. Bales to the number of $1,000 were
catalogued. while the sales at auction and in
private are reported at 37.898 bales. In
Guided In the catalogue were q number OF lots
from Tasmania which Jared excellently. the
lightest Of them topping the market. As COM
pared with the closing public rates OF last
year the market has shown q decided and
considerable advance for almost every de-
scription Of the staple. the only classes which
may be said to remain at par being superior
greasy woods and the most inferior and faulty
OF the same description. With the exception
OF these two classes. other varieties have i'm
proved to the extent OF 8 to TX per cent. In
both greasy and secured divisions. The high
est price paid In the greasy section was IL
pence for a ine-haired wool OF good bright ap-
pearance which cam from Tasmania. An
other small parcel from Bumbola sold well.
the top lot OF eight bales bringing 0 pence.
other portions Of the fleece selling from 8
to Sls pence. In secured fleece the record for
the season was established. 1874 pence for q
small though choice lot.
Next week there will be other auction sales.
and the wool to be offered represents practl-
cally al. that will como into brokers' hands for
the current season. During the winter
months here. or of season. there will be. no
doubt. a certain quantity Of locally secured
wool and remnants OF tho 1S99-1S99 clip to
offer, but there is no question that the ensuing
five or six months will see a less quantity avail
able for disposal In the Sydney market than
ever before. The PROSPECTS, for the 18o3-19O0
CLIP are not by any means ENCOURAGING. for the
succession OF drouRhts which has affected New
South Wales has had. and will have. a very seri-
oIs effect on the wool harvest OF next season.
Not only will there DO a very inferior represen-
kotion - ho1nat punol hut fhA xsnol f~sn. tko