SATURDAY. MAY 27, 1893. THE BANK OF NEW SOUTH WALES

Feilding Star, Volume XIV, Issue 145, 27 May 1893, Page 2

SATURDAY. MAY 27, 1893. THE BANK OF NEW SOUTH WALES

In another column wo publish lo day the balance sheet &C,, of the Bank of New Souih Wales for the half-year ended 3 1.->t. March last, from which it will be seen that, despite of all tho troubles in financial circle?, the bank made a net profit, after providing for every contingency, amounting to £111,375 los 2d, and the undivided balance from hist year, added to lhi3, make the handsome total of nearly £'120,000 in round numbers. A dividend at the rate of 15 per cent per annum was recommended for payment, a handsome sum was added to the reserve lund, ami a considerable amount was added to the profit and loss account. The reserve fund stands now at oyer a million. The reputation of this bank stands deservedly hififh at Homo as well as m the Colonies, for the excellence of the management, as well as the liberality of its commercial policy.

Thk following remarks made by the I Manawatn Herald apply with equal force Ito Feilding : — " One of our needs in Foxton is a building society. Every building of any description is occupied, and uioro are wanted. We notice that in Otuki they have one, and we cannot see that if one will pay there onu should not here. A society would help houses bein<{ built, thus incn^sinfj the revenue of the town, and the occupiers of them would increase the trade. Our people are slow to move." Homo years a^o a movement was inaugurated by some Feildimj businoss men in the direction indicated, but from a variety of causes nothing came of it. Now, however, that tho population has largely increased, and obstructive causes been removed which formerly existed, there can be nothing to prevent a second effort bein^c mad* 1 ,

The energetic secretary of tho Longhnrn Freezing Company, Mr A. Mncpherson, gives notice that ft meeting will bo held at Colyton in the Public Hall there on tho evening of Tuesday the yOth instant for the purpose of discussing and furthering tho best interests of tlia company. \\u have confidence that the attendance will be large, because every settler, whether a i dairy or sheep farmer, is emmlly intercsttitl j in tho tuiccob.s of tlio company. It now j stands in the wuy of v monopoly which is

likely, if allowed to get full control, to crush the industry by reducing the prices given for sheep to producers, to a minimum. The actual outlay expected from individuals is remarkably small, but this in the aggregate will increase the working capital of the company to the extent required for the economical management with enlarged operative power. Tendkrs will be invited at an early date, says the Wellington Press, by the Public Works Department for the supply of 75,000 sleepers for the Whangarei and Te Aroha railway lines, in the Auckland district, and for the Otago Central and Seaward Bush line in the Otago district. It is not improbable that the respective merits and costs of totara and silver pine will be tested in dealing with the tenders. We hope that the sawmill owners in this part of the colony will have the opportunity given them of competing. It is notorious that the totara sleepers cut from the forests in Ma»A\VAt», Oyona, find Rangitikei counties, are the most durable, anil therefore the best, while they can be cut and delivered at the same cost as the inferior ones.