SYDNEY.
November 1. The half-yearly statement -jf the Bank of New South Wales was ]. blished today. The directors in their report estimate the net profits for the period at £88,000, and recommend a payment of a dividend and bonus amounting to 17| per cent. November 2. In the Legislative Assembly last night the Hon. James Watson introduced the financial statement. After referring to the increasing prosperity of the colony, he stated that the revenue for the past year amounted to £7,160,914, and that there was a surplus of £1,827,695. He estimated the revenue for next year at £7.356,200, with a credit balance of £580,351, and it was proposed to remit a number of specific duties on household requisites and builder's and manufacturer's materials. Further railway construction to the extent of seven hundred miles will be proposed, besides various extensions of the tramways system. It will not be necessary, as was supposed, to float another loan at the end of next year. The Treasurer concluded by stating that the revenue for 1882-83 may probably reach £8,000,000.
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Bibliographic details
Daily Telegraph (Napier), Issue 3532, 2 November 1882, Page 3
Word Count
175SYDNEY. Daily Telegraph (Napier), Issue 3532, 2 November 1882, Page 3
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