AUSTRALIAN.

Timaru Herald, Volume LXXXI, Issue 12584, 23 January 1905, Page 3

AUSTRALIAN.

Uniteu Press Association—Per Electrio Telegraph—Copyright DEPOSIT AND MORTGAGE BANK MELBOURNE, January 21 A report has been prepared in connec ion with the adjustment of the affairs of he Australian Deposit and Mortgage 3ank. The properties standing on the 3ank's book at over a million were valued ■t £329,000 In order to provide for the oss the directors will; recominend . sharetolders to adopt the writing down of the apital, which at June 30th last stood at 3928,000, by £729,000, partly by cancella ion of certain ordinary shares and wntdown the remainder The entire as ets are approximately valued at £600,000, nd the liabilities to depositors £400,000 r he balance of £2OO,'COO will be left as apital; . THE FEDERAL REVENUE. Sir G Turner has issued a statement showing that the Federal revenue for the irst'half fiscal year was £5,805,000, being v decrease of £30,000 on the last corres xmdmg half; while the expenditure was 02,096,000 a decrease of £91,003. The urplus returned to the States was 83,780.000. am increase bf £41,000.

THE :PREMIERS:''CONFERENCE.' The list of subject's; for consideration at ;he -Premiers' Conference is a very 'lengthy one; and includes the:.appointment of a sigh-Commissioner .and} "commercial, representatives in London, 'the bating over of' State:debts, =the Murray craters question, uid. old-age, pensions.'■ ' '• '■' RAILWAY. RETRENCHMENT.

"Owing to the retaenchinerit, the .result of slackness of business; '"numbers of railway employees: are-.beinar discharged and 'others placed -piigSbort -time.;. , ■■ TRAFFIC RESUMED. r BRISBANE, January 21. The floods .have'sufficfently- receded' to allow the resumption "of ■ railway traffic/

LEAVE OF ABSENCE. ; - ADELAIDE, January 21. Sir Charles Todd'has been r granted six -nonths' leave prior -to." his ; retirement. ■