UNION BANK OF AUSTRALIA.

Evening Post, Volume LX, Issue 52, 30 August 1900, Page 6

UNION BANK OF AUSTRALIA.

• (From Our Own Correspondent.) LONDON, '28th July. Mr. Arthur F.ower presided at 'the annual general meeting of the Union Bank of Australia held on Monday last at the Bank's buildings, 71, Cornhill, E.U. In moving the adoption of the report and balance-sheet, the Chairman said that the main item was an increase of £800,000 in the deposits. While their liquid resources showed an addition of £1,800,000, those in tho colonies, consisting of wool in hand, specie, and cash balances, showed a decrease of £430,000. The variations were due to the season of the year. The net result which affected the Bank was tnat their liquid available resources on 24th February last amounted to £8,000,000, with £18,600,000 liabilities, so that if they deducted the £750,000 invested, tho liquid resources represented 8s 6cl in the £ on all liabilities, both in London and the colonies. (Hear, hear.) The improvement in the general condition of Australian business stiil continued. That improvement, it was true, had only been gradual, but on that account he thought it would be lasting. They had had favourable accounts of rains in the colonies, and it was hoped that they indicated a break up of the drought. The rise in merino wool had not been maintained but he thought they might hope for an improvement in present prices. He congratulated the shareholders on the passing of the Commonwealth Bill by Parliament, and he trusted that tho colony tof Western Australia would a'-po be federated. The Federation Avas calculated to be of tho greatest advantage to the colonies themselves and to the country in general. Their Bank was likely to reap the benefits from the improvement that would arise. The past half-year's working of the Bank had been satisfactory, and the directors were well satisfied with the quality and quantity of the business. Sir Westby Perceval seconded the motion, which was adopted.

\Vhilst the Land Board was dealing with a number of transfers at its meeting this afternoon, Mr. Reese said that he had heard many complaints in his district concerning the heavy transfer fees which had to be paid both to lawyers and to the department. Mr. A. W. Hogg said it was a strange thing that the Land Act of 1892 had been continually strained against settlers in tho matter of fees and declarations. lie had spoken to lawyers in the House on this subject, and they had agreed that the fee of one guinea could not be legally enforced. He gave notice that he would move at ( lie next meeting of the Board the following rebolucions :—(1): — (1) That the fee of one guinea, imposed for cMif-ent to transfer be not exacted, the Board being of opinion that the provisions of clause 81 of the Land Act do not apply to Mich transactions ; (2) That ihis Board directs that memorandums of transfer and other dotnments connected therewith be filled in as far as practicable by the officers of the department, and that on payment of the necess&aiy fucs aud stamp duty the documents be parsed through the Stamp Oihce and tho transfers duly logi&lcrcd. During an entertainment given in the Theatre Royal, Timaru, on Tuesday evening, by pupils of the Mavist Brothers' School, a prepared debate was given by about a score of small boys on the timely question, "Should bad boys be birched, and when?" It. was resolved that bad boys should be birched " whenever they deserved it."

It is luuleisl ood that Mr. J. U. W. Aitken does not intend to seek a renewal of his term of office as Mayor of Wellington. The Chief Justice will return from the South, on tiunduy. The Chairman of the Nelson Charitable Aid Board has telegraphed to Mr. John Hutchebon, M.H.R., that there is great indignation in the city at the findings of the Stoke Orphanage Enquiry Committee, that the proposals of the Government . are considered total inadequate, and that an indignation meeting will be held on Monday evening. The Magisterial enquiry into the stranding of the Union Company's steamer Mapourika at Mabel Island, Picton, has been definitely fixed to be held at Dunedin. Mr. Max Eichelbaum, New Zealand representative of Messrs. Oppenheimer, New York, returned to Wellington yesterday from a business trip to San Francisco. An inspection of the Omarunui estate, Hawkes Bay, is being made by the Government Land Purchase Board in order to ascertain its suitability for closer settlement. The Christchurch Press states that the Medical Association has advised the Government to send to England for the Chief Health Officer to be appointed under the new Public Health Bill. The report of the sub-committee in connection with the agitation in favour of retaining the Mount Cook hite for the Victoria University College was presented to the General Committee this morning, and considered very satisfactory. In addition to the means of ch-culating the petition already alluded to, it was mentioned that several of the Parliamentary representatives of the Middle University District were actively assisting in their respective constituencies, and it is expected that the petition will be very largely signed. It was also stated that the Victoria College students would take an active part in the matter, and the Mayor (who presided) said there AAas every reason for satisfaction at the progress of the movement, which he hoped would have the desired effect. The energetic manner in which a large number of members of the Legislature were supporting the agitation, and doing all they could for its furtherance, -was also considered gratifying. The meeting was adjourned till Wednesday next. Considerable discussion took place at the Land Board this morning over an application from the selector of 487 acres in the Rangitikei district to transfer his lease to Mr. David VVilkic. Tho applicant, Walter Kingdom, who is employed at Petnne, teas examined on oath, as also* was Wilfcie, who is a couein of Mr. David Wilkie, storekeeper. It transpired that some twelve sections, comprising about 3000 acres, were selected in 1896° Mr. Wilkie, storekeeper, having advised a number of Petone residents to apply for the land, and acted as agent for them. An enquiry was subsequently held by the Board into the circumstances, but after taking evidence it was considered that the charge of dummyism could not be sustained. Since then Mr. Wilkie's cousin has been managing several of the properties on behalf of the selectors. One of tho latter, some time since, transferred 965 acres to Mr. Wilkie, storekeeper, and more recently another transfer of 118 acres was allowed on condition that the bulk of the land was re-transferred to some one else. On this occasion Kin "don applied to transfer 487 acres to Wilkie, his manager stating that he had expended £663 in bushfelling and improvements Wilkie, under examination, said, the money for the improvements was all provided by Kingdon, and there was no col- I lusion. The Board decided to allow the transfer, My. A. W. Hogg alone dissenting, on the ground that the evidence was unsatisfactory and that ho considered about 2000 acres of what was intended to be a settlement for a number of families should not bo allowed to fall into tho hands of the Messrs. Wilkie. The Countess of Ranfnrly has just added to her already large and interesting collection of Maori curiosities a model of a pataka, ox carved house. The pataka was carved for tho Countess by Mr. J. W . Heberley. of Petone, and it is a fine specimen of Maori carving The model has been named Houtea, after one ot the historic canoes which brought the Maoris to New Zealand, and is surmounted by a figure of Maui, the mythical hero of the natives. J Mr. Thomas Carmichael announces himself as a candidate for the Cook Ward seat in the coming municipal elections Messrs. R. P. Collins, E. fciga* D < T Stuart, James Lockie, and R. M Siim> son are his nominators. ' P qJK? Taka P u ™' whicl * brought on the Southern portion of the inward S-,n Francisco mail from Onehunga, and aiS3l eat xx r5O.r 50 . ****** mo ™» i made an exceedingly smart trip, outliT&^rT™* rCCOrCIS the seSi SorvleiC^S o rvlei C^! erb T? ry Times contains a &eiics oi views oi tho Union S.S. Company's £."3 S^XKVcL* "-" Mr. A. T. Bate reminds investors that Hll 11 } 0 18 acres at Baker's o^Sbi^pHo^ awn from sale for a Th 0 Free Laneo this week has a good 2™. ° v p- George Fisher and' his jnoposal to tax velvets, laces, and other ieminmo luxuries ; also, a number of other topical pictures. To-morrow afternoon Messrs. Townscnd and Paul will hold a large unreserved sale of rare flowering plants, roses, and fruit trees. Tho catalogues, which arc now obtainable, contain 418 lots. These plant* have como from Messrs. Gibbons and Co 's Hutt nursery, so that they have tho advantage of being raised locally. 'In tho current issuo of tho Weekly Pre?s the Chinese crisis is well illustrated ; capital views are given, of tho opening of Iho Cosmopolitan Club at Wanganui, and of tho Right Hon. tho Premier opening the now Post Office at Newtown. Wrapped copies will bo on sale ouliido G.P.O. on Saturday for tho 'Frisco mail. - Reductions of the priros of Suratura teas in conformity with the tariff alterations am advertised in another column. Messrs. Scoullar and Chisholm draw attention to tho facl that Saturday will bo the last day of their halo. Mr. H. Osborno, tailor, 98, Cuba-street, notifies that ho has taken into partnership Mr. 11. Baker, and tho business will bo continued under tho style of Osborno and Baker. Meßsrp. Haigh and Morrah will hold an unreserved sale of the contents of a bixroomed house at their rooms to-morrow afternoon. Full particulars appear elsewhere. On Saturday they will hold their uMial sale of horses at their Horse Bazaar, Ilarrii-fetreet. Tenders nre invited by Mr. Soaton, C.E., for the formation of Iho two avenues in Ludlam Park, Lower Hutt. Tho formation of these Blrnots will greatly add to tho bnauty and value of Iho park, which, it «'i)l bo remembered, Avai sold at public auction by Messrs. Macdonald, Wilson and Co. some three tneaths ago.

The opinion was expressed by Mr. Ha.selden, S.M., this afternoon that there was no necessity for the employment of .shorthand reporters in MagistratesL-Court proceedings unless in exceptional instances, and then the matter could be overcome by additional time being given for taking longhand notes.