AUSTRALIAN NEWS.

Globe, Volume XXIII, Issue 2171, 9 February 1881, Page 3

AUSTRALIAN NEWS.

[Per s.e. Ringarooma at Russell.] MELBOURNE, February 3

The Bank of Victoria has declared a dividend of 9 per cent, per annum, and carries £9327 forward. The National Insurance Company has declared a dividend of 8 per cent, and a bonus of 6d per share. The Commercial Bank dividend is 8 per cent., £SOOO being carried to the reserve fund.

At the Hospital committee meeting on Tuesday notice of motion was given for a general inquiry into the management of that institution.

Gathan has been rescued uninjured after being 105 hours at the bottom of a well on Periooota station. One leg was held fast by a slab. He had to be fed in that position. A disagreement has arisen between Mr Clark and the Harbor Trust. The former will not permit silt to be deposited in any part of Hobson’s Bay, The Trust, in reply, pointed out that if Mr Clark’s decision were adhered to £40,000 worth of machinery would be rendered useless, and would compel them to dismiss the whole of their employes engaged in dredging.

There is no outright betting on the Autumn meeting. The bookmakers lay 1000 to 4 on the double Cup and Handicap. Porter, the engine driver injured during the recent explosion at Sandhurst, is dead. The steamers Dispatch and Albatroes arrived from the wreck of tho Hereford on Tuesday. The former brought a large cargo, and returned to the wreck on Tuesday. Only two pumps were taken by tho Despatch on the last trip, both of which got damaged, and additional pumping gear will have to be dispatched. It is stated that the cargo brought from the wreck to Melbourne will pay the cost of the purchase of the wreck and 6Zp( 22300* SYDNEY, February 3.

The Government have made considerable reductions in the rates of carriage of goods on the railway, especially agricultural and dairy produce. With regard to the railways, recently prepared statistics show that after charging working expenses their net return was £499,308, which paj s over 4 per cent, on the capital invested on the lines open for traffic, or nearly 1 per cent, in excess of the profit yield in 1879, notwithstanding that there was £1,341,062 additional capital invested. The earnings per mile in 1879 were £1314, and in 1880 £1473, showing an increase of £l3O per mile. The expenditure in 1879 per mile was £843, which in 1880 had been reduced to £839. ADELAIDE. February 3. Six members of the Council ceased to bold seats by efiluxion of time to-day. Writs for the elections are out, and only await the return of the Treasurer to make a full Cabinet to determine the dates to be filled in. There was a gathering of farmers and others at Mount Gambier yesterday to meet Messrs Oliver and Cooper, from Victoria, who are ready to undertake the management of a factory for the profitable utilisation of milk, potatoes and pigs. The gentlemen present agreed to bear the cost of procuring apparatus to make experiments in milk condensing, and the use of lOOgals. daily was decided upon in order to test the market. If successful a company will be formed. QUEENSLAND, February 3. The Portugese barque Yillers, from Port Douglas to Melbourne, with a cargo of cedar, was wrecked on the Pioneer rocks in Whit Sunday Passage. The and crew were safely landed.