AUSTRALIAN.

Poverty Bay Herald, Volume XXI, Issue 6896, 7 February 1894, Page 2

AUSTRALIAN.

Press Association— Eleotrio Telegraph— Oopyrigh SYDNEY. F.ja£ 6 Arrived to-day : Wakatipu from WelM ington, and Mariposa from 'Frisco via Auckland. Tbe Broken Hill Consols mine has struck a fine pocket, consisting almost entirely of pure silver. Feb. 7.— The City Council has decidad to prohibit the system o! sub-letting municipal contracts. MELBOURNE, Feb. 6. At the half- yearly meeting of the Bank of Victoria the net profits were shown to. be £31,111. A diivdend'of five per cent, on preferential shares and five per cent, on ordinary shares was passed, and a sum of £4900 carried forward. The liabilities of the firm of Phippa, Turnbull and Co., importers, are set down at £16.500, and the assets afc £3110. The Premier has addressed a letter to the other Premiers, suggesting that as the prosperity of Australia is largely .dependent on the cheap exportation of products, that the representatives to the Postal Conference m New Zealand should be instructed to give the question of mail contract and transport, at low rates m connection with it, their first attention and greatest prominence. The co-operative principle, which waa tried at Kardella village settlement, has been a failure, and a deputation of settlers, which waited on the Minister for Lands, stated that some desired to work the holding independently. Others are willing to continue the co-operative principle. The Minister recommended them to come to some agreement amongst themselves, and he would then see what could be done to sub« divide the land.