VICTORIA.

Hawke's Bay Herald, Volume XXX, Issue 10021, 21 June 1895, Page 3

VICTORIA.

Melboubne, Thorsday. At a meeting of (shareholders in the Colonial Investment Agenoy Company a resolution was earned empowering the Company to dissolve. The report of the liquidators showed (hat the liquidation hod produced elevenpence and five-sixths in toe £1, Statements made by tbe liquidators showed that for three and a half years before liquidation tbe directors did. not cell more than £7000 worth of land, and yet paid £87,000 in dividends. The ringleader in tbe company's troubles could not be got at, as he had carefully manipulated toe minutes and so saved bis own skin at tbe expense oi others. The Age declares that tbe success of tbe chilled meat by the Gothic will soon end the anomalous condition of tbe London market, as to .tbe difference between wholesale and retail price?.' The Age, commenting on tbe rearrangement effected by the Colonial Bask of Australasia and other banks, aays tbe balance-sheet of every bank, reconstructed or not, affords ample evidence that the present earning power of money has been largely reduced, and to > ap up the rate of interest mnstend in further losses. Other banks should take the suggestion and follow the example of the Olonial at no distant date.