AUSTRALIAN CABLES.

Oamaru Mail, Volume XXVII, Issue 8490, 25 May 1904, Page 1

AUSTRALIAN CABLES.

[By Electric Telegraph.—Copybight.J (Per Press Association.) Received May 24, at 10.25 p.m. Sydney, May 24. At the half-yearly meeting of the Bank of New South Wales the net profits were shown to be £119,581, and a dividend of 10 per cent, was declared, £20,000 was added to reserve, and £IB,OOO carried to profit and loss new account. The chairman, in moving the adoption of the report, stated that the liquid assets were £9;059,000, compared with £9,353,000 last year. The advance showed an increase of £550,000. The business was of a steady character, which they aimed to keep. He congratulated the shareholders on the improved condition of the country owing to the abundant harvest, and was hopeful of the crop and pastoral prospects. The report was adopted. Sir J. R. Fairfax was elected' a director in place of Mr Cottle, deceased. Received May 25, at 1.1 a.in. Brisbane, May 24. The Cup resulted : —FitzGrafton 1, Iron Mould 2, Escamillo 3. Seventeen started. Won by two lengths. Time., 3min 29sec. Dividend, £1 Bs. Melbourne, May 24. Mr Kingston is slowly improving. A caucus of Deakinites discussed Mr Reid's letter. They asked if the Prime Ministership alone blocked a coalition, and adjourned till to-morrow. In the House the -debate on the Government's policy is proceeding.