LATEST TELEGRAMS. NEW ZEALAND BANK.

Wairarapa Standard, Volume 4, Issue 357, 4 November 1875, Page 2

LATEST TELEGRAMS.

NEW ZEALAND BANK.

(fbom our own correspondent.) Wellington, November 4, 7 p.m. Sailed—Ladybird for the North. Gillon has resigned the editorship of the Post. Mrs Charles Gilligan attempted suicide by jumping off the wharf this afternoon. She was rescued and taken into custody. The reasons assigned for the rash act are domestic rows and drink. At the inquest on the body of the man who dropped dead on the wharf a verdict f death from natural causes was returned. A man was killed on the Port Chalmers railway to-day. btout addresses his Caversham constituents on Friday. The Opposition members in Dunedin have hau a caucus, and, it is said, agreed on a programme, which Stout is expected to announce.

MaSTERTON highway board.

A meeting of the above Board was held on Saturday last. Present —Messrs Beetham, Vallance, Buchanan, Dorset, and Alpass. Mr Beetham in the chair.

The minutes of previous meeting were read and confirmed. Letter from C. McLachlan, dated Ist October, stating that he considered the rates levied on his property at Rangituma too high. One from W. Griffin, dated Ist Oct, relative to line of road leading through his property at Manaia. One from Messrs Moore and others, dated 19th Oct, asking the Board to instruct the Engineer to prepare plans and specifications of work on the newly laid off line of road between the Motuiraka stream and Mongapui, so that tenders might be invited for the same. One from Deputy-Superintendent, enclosing copy of Provincial Gazette containing a proclamation altering boundaries of Masterton and Featherston Highway Districts. One from J. Robieson, informing the Board that J. McKenzie, Te Witi, had again closed the road that had been opened by the Engineer since last meeting of the Board.

One from W. Catt stating that- as the Board had not complied with his offer he would require compensation for his paddock for the time he had to keep it open. One from W. Blatchford, asking the Board to instruct the Engineer to lay off a line of road from his place to Carterton. One from J. McKenzie, relative to an embankment left by Government on his line of road, and asking the Board to give him authority to employ men to remove the same. A telegram was received from E. W. Butler, inquiring if the Board had considered his account for assessing the Taratahi-Carterton district, and if they intended to pay it The following tenders for work were received— One from Messrs McLeod and McGreggor, for falling 100 chains of bush on Castle Hill line of road ; 14s per chain. One from J. W. Baker, for the same «vork, 8s 6d per chain ; and also one fo erection of a culvert on Manaia line of road, £l7. One from T. Welch for 16 chains of formation and cuttings on Flat Point line, £5 per chain. One from M. Dowling, for the same work, £3 2s 6d per chain. One from J. Quain, for erection of culvert on Manaia line, £ls. Mr King gave in his report, which was read. Messrs Rockel, Colway, Mutrie, Allen, and Bennington waited on the Board, and asked that something might be done to improve the several lines leading to their properties. Mr McCardle likewise attended and requested that a bridge might be erected across the stream near his property. Mr Matthews also appeared and asked that the rates on his property might be reduced. The following resolutions were then passed— That the Secretary write to Mr Butler and inform him that the Board have no funds belonging to the TaratahiCarterton Board, and ask him to apply to the latter Board for payment of his account.

That he write 10 Mr Catt and inform him that as his Crown Grant has not matured, he is not entitled to compensation for the road taken through his property. That he also write to Mr Griffin and inform him that Mr Kelleher waited on the Board and stated that he had laid off the road through his property, and request him to remove the fence erected thereon. That the Engineer give an estimate of the expense of erecting a bridge across the stream near Mr McCardle’s property. That he likewise see and report upon work applied for by Messrs Bennington, Oolway, and others. That he as soon as possible lay off a line of road from the Ruamahunga River to Messrs Bunny and Blatchford’s stations. That the Board cannot grant the request of J. McKenzie to employ labor for removing embankment. That Mr Robieson be empowered to open the line of road closed by Mr J. McKenzie through his property at Te With That the Secretary write to Mr J. Vile, and request him to proceed with his contract on Francis line of road, Taratahi. That the statement of accounts submitted by the Treasurer to the Board be published. That tenders be invited for formation and cuttings on Flat Point line, and also for falling bush at Akiroa, in Nos 2 and 3 Wards, so as to widen the road there. The following payments were made— H. Hartshorn, advance contract Wainuioru £B9 5 0 Dowling, amount contract, No 3 Ward 39 17 0 A. McKay, do do 31 4 0 J. King, men’s wages, Ward No 4 77 17 0 McKenzie, do 9 12 0 J. King, wages Survey staff... 17 2 0 F. Gray, ironwork for bridge 217 0 McGregor Brothers, timber 617 0 J. lorns, tools, &c 6 12 9 J. King, one month’s salary 20 6 8 Welch and Kite, amount contract, No 6 Ward 65 0 0 J. Livingstone, balance contract 10 0 0 The next meeting was appointed to be held on Saturda, Nov. 27, at 11 o’clock p.m.

Account op Receipts and DisbubseMENTS PROM JAN. 6, 1873, TO JUNE 30, 1875.

*£5400 9 6

The New Zealand Herald of the 28th ult. publishes in exlenso the 28th report of the Bunk of New Zealand, presented at the haltyearly meeting of proprietors held on the 26th ult. From it we gather that the usual dividend of 15 per cent per annum was declared and nearly £20,000 was carried to profit and loss account towards the available balance for the next half year. The capital of the Bank and the reserve fund now amount to £BOO,OOO. During the past fourteen years no less than £IBO,OOO has been set aside from profits towards the reserve fund, and £IOO,OOO written off for bank premises and' furniture. Toe increase of business during the past year has convinced the directory that it would now be desirable to extend their operations by issuing 10,000 additional shares, nor is it thought that future profits will be affected by this issue, which will add £150,000 to its subscribed capital. With respect to the Government account the Chairman said he attributed much of this jealousy and ill-will shewn to the possession by the Bank of New Zealand of it. Other institutions desired to share the account with the bank, and the committee had recommended that the account should be tendered for. He was quite satisfied that this should be the case and could assure the shareholders that the Oovemnient account, in its normal condition, was by no means an object to be too eagerly sought. It involved the bank keeping at least 50 additional clerks employed to do Government work; besides numerous agencies which would not be maintained if it were not for the Government requirements. The charges allowed by the Government were so nicely adjusted that very slight alteration would render the account a loss instead of a source of profit, and though the directors attached some weight to the prestige of oeing the Government bankers they were not disposed to suffer a loss to get it. An opportunity would now, however, be offered to the other banks to tender for the account, and if they were able to offer equal facilities at a less rate, by all means let them have it. The chairman concluded his speech by informing the meeting that whether the bank continued to have the Government account or whether it did not, the directors were resolved to use every effort to maintain the present premier position of the hank and had no fear that with energy and care they wotdd easily succeed in doing so-

Mr Stone in imoving the adoption of the report, touched upon the Bridges’ episode, and concluded a lengthy speech as follows: Honest rivalry we are ever ready to welcome, but we cannot sufficiently deprecate the line of conduct followed on this occasion, which has obtained for Mr Bridges the well-merited verdict of the committee, adopted with acclamation by the House, that “ his charges are absolutely without foundation and wholly unwarranted—a verdict which I may say, is heartily confirmed by this bank. Leaving this disagreeable subject, let me only remark, in conclusion, as to the future, that while there is much to encourage, there is also much to excite great caution; and yoor directors are resolved that while maintaining the premier position of the bank in the colony, they will not lend themselves to any undue stretch of credit, or to any business of a purely speculative character* Their efforts will be devoted to the developement of healthy enterprise, and to the legitimate support of the rapidly-growing interests of the colony of Hew Zealand. With these few remarks, I beg to move the adoption of the report. Mr Whitaker, in seconding the report, referred to the same topic and said he did not think that this attempt to injure the Bank of New Zealand was instigated by the directors of the National Bank or by anyone else. He thought that on this occasion Mr Bridges lost his head, and was hardly accountable for what he was doing. The report having been unanimously adopted, a vote of thanks to the directors and officers of the bank was moved by the Mayor of Auckland and seconded by Colonel Balneavis. In reply to it the Chairman said—

On behalf of myself and co-directors I beg to acknowledge the vote of thanks that has just been so kindly moved and seconded. I'he figures to day are such, I think, that we may be proud of, and such that, perhaps without any display of egotism, 1 may say shew care on behalf of those wbj bare had the management of the institution. The position of director in this bank is one of deep responsibility, and it also has had at times its anxieties. lam proud to say that 1 have been connected with it, in one shape or other, for many years, and hare been one to sit at its board, off and on, almost from its commencement. I feel proud of having been associated with the gentlemen who have been its directors, and who have ever evinced deep interest in the proprietary. We have been ably assisted, by an efficient staff, and the gentleman on my right will return thanks for bis section of it.

Ur D. L. Murdoch, in replying for the staff of officers, saidl have much pleasure on behalf of the staff in acknowledging with

f thankfulness your rote, expressive of your appreciation of their services during the past half year. The result you know in the report which has been pat before yon to-day, bat you can only surmise the sealons efforts and constant care which have produced that result, and which, while they conduce so much to the comfort and profit of shareholders, make it a pleasure, and, I may say, an honor to be associated with with the genwho now fiprm your staff. It has been a mat* ter of deep regret to ns that a reflection has I been thrown upon the banking profession by one who, in past years, has participated in votes of thanks, and whose conduct has been fitly commented on by the chairman. I would only take the opportunity of saying that while it is a mater of congratulation that the party referred to is no longer connected with ns, I would have you to believe that such conduct on the part of a bank officer is singularly exceptional, and that a nicer sense of honor actuates the profession. 1 will have pleasure in communicating to the staff your vote of thanks, and, in their name, I feel warranted in assuring yon that no effort will be wanting on their part to make future results as good as that placed before yos today. (Hear hear.) This concluded the business.

“Plea e, sir, give me a penny .” said a street urchin to a gentleman; adding, as he saw a denial coming into the man’s face, “Indeed, you ought to, for I’ve been rnonin’ after you ’most half an hour. Pboobbss ox Tb\d* —No Department o business has, during the last tew years, made more rapid progress in New Zealand than the Clothing. In the earlier stages of the colony Fit and Style were but a secondary consideration with the manufacturers, and the consequence was a wide-spread dissatisfaction with and prejudice against ready made Clothing. To remedy this James Smith, Te Are House, Wellington, procured samples of the beet Styles produced in the City of Melbourne, which place has long held the premier position m the manufacture of Men’s, Boys’, and Youths’ Clothing. Owing however to the high rate of labor it was found impossible to offer any article at a low price, J. 8., being in communication with the first houses in London, forwarded these samples to his buyer, under whose superintendence every article of Clothing ordered for Te Are Hones is made up. In consequence of the special attention paid to this branch of the business, Te Are House has acquired throughout the Province the reputation of being the best mart for the selection of very Superior Clothing. Fit, Style, and Quality are all guaranteed, and the residents in the Wain* rapa district will find it to their advantage when coming to Wellington to pay a visit to Te Are House. The Stock is now unprecedently large, and for farther particulars see first page of this paper.

RECEIPTS. £ 8. , D. 1872-3 To amount of rates colIccted 525 19 10 Qrant in aid from Provincial Government... 584 10 0 Subscriptions from rate-1873-4 payers 54 4 3 Amount of rates collected S23 Grant in aid from Pro1 9i vincialGovernment... 605 Subscriptions from rate0 0 1874-6 payers 62 0 0 Amount of rates collected 1333 Grant in aid from General and Provincial Go6 0* vernments 1250 Subscriptions from rate5 0 payers ... ... 161 8 7

EXPENDITURE. 1872-3 By amount expended Ward No 1 42 4 0 1S73-4 do do do 65 0 0 1874-6 do do do 78 10 0 — 185 14 0 1872-2 Byamountexpended Ward No 2 40 1 0 1873-4 do do do 460 7 9 1874-S do do do 488 15 6 — 989 4 3 1872 3 Byamountexpended Ward No 3 56 2 0 1873-4 do do do 184 12 6 1874 5 do do do 121 2 6 — 361 17 0 1372-3 Byamountexpended Ward No 4 154 14 6 1873-4 do do do 153 16 4 1874-5 do do do 374 16 8 — 683 7 6 1872-3 Byamountexpended Ward No 5 53 16 8 1873 4 do do do 526 5 8 — 580 2 4 1872-3 By amount expended Ward No 6 25 0 0 1873-4 do do do 94 10 0 1874-5 do do do 60S 2 3 — 627 13 3 1872-3 Byamountexpended Ward No 7 78 0 0 1873-4 do do do 80 1 0 — — 158 1 0 Printing, Stationery, and Stamps— 1872 3 By amnt. paid 24 16 9 1873-4 do do 33 16 10 1874-5 do do 43 1 1 102 14 8 Rente, Furnitur , Ac.-1872-3 By amnt. paid 1 10 0 1873-4 do do 3S 9 0 1874-5 do do 34 0 10 — 73 19 10 Salaries. Wages, &c.— 1872-3 Byamnt. uaid 86 0 11 1873-4 do do 229 0 0 1874-5 do do 437 19 0 752 19 11 Balance 884 16 9 £5400 9 6 C, . A. Vallance, Treasurer. Mast or ton, October 30,1875.