AUSTRALIAN CABLES.

Feilding Star, Volume XIX, Issue 41, 5 July 1897, Page 2

AUSTRALIAN CABLES.

(Per Press Association.} Melbourne, July 3. Tbe Supreme Court has sanctioned tbe reduction of tbe capital of Howard Smith and Sons from £1,000,000 (of which £50,000 is paid up) to £250.000. Tbe holders of over £2,000,000 of 4 per cent, stock have now availed themselves of tbe opportunity to convert it into 3 par cents. The balance of about only £100,000 remains nuconverted. Adelaide, July 3. Tbe sum of £60,000 has been paid in succession duty in connection with tbe late Sir Thomas Elder's estate. Brisbane, July 2. Tbe Court has sanctioned tbe writingdown of tbe capital of tbe Queensland Note Bank under tbe re-arrangement scheme This represents a reduction of £480,000. Sydney, July 2. Tbe reyenne returns for the year show an increase of £57,000 as com pared with those of tbo previous year. The railway receipts increased by £211,000. The land tax yielded £140,000 and tbe income tax i' 305,000, which is £277.000 in excess of tbe amount derived from the same source last year. For the last quarter the revenue showed a comparative increase of £166,000. Tbe land tax is £74,000, and the income tax £22,000 below the estimates Mr Reid, Premier and Colonial Treasurer. The total revenue of tbe colony for the year, however, is £16,000 above tbe estimate. As tho result of the reduction of tbe sugar duties, tbe Colonial Sugar Company has issued a circular to tbs canegrowers of tbe Northern Rivers terminating tbe contract for tbe purchase of their cane. The Company also notifies that factories must be closed, as tbe duty will be too small for the work to bo carried on without loss. This Day. The ship Argonaut, from London, encountered fearful gales, and lost two seamen and one apprentice overboard. H.M.S. Wallaroo hoisted the British flag at Bellopa, Rennel, and Stewart Islands in tha Solomon group. A man named Arthur Ernest Livinpstone was found drowned in tbe harbour. He came from Dunedin in the Tarawera. A dratt of £135 wan found in his pocket. Perth, July 8. Extensive rich bodies of tellunde ore have been struck in the Lake View South and Australian East mines, Kal goorlie. Tho lodes also carry rich free gold.