AUSTRALIAN NEWS.

Hokitika Guardian, 30 November 1927, Page 2

AUSTRALIAN NEWS.

(By Telegraph—Per Press Association.

BANK OF NEAV SOUTH WALES. SYDNEY, Nov. 29. The report and balance sheet presented at the meeting of the Bank of New South AY ales for the year ended 30th. September last, showed net profits, after deduction for various charges, of £1.226.247, whereto added '• is £171,925, the undivided balance. From this is deducted the interim / dividends. Ten per cent, is paid for the quarters''ended December, Marcli and June last, totalling £515.625, leaving a balance of £'882.547. which the directors recommended to he dealt with as follows: Payment of dividend of ten per cent, for tlie quarter ended 30th September, absorbing £105,586: bonus 10s per share, absorbing £185.586; augmentation of reserve fund £240,760; balance carried for war 1 £170,615.

FALL OA T ER. CLIFF. BRISBANE, Nov. 29. Thomas AA r ilmot, aged 46. labourer, reported to be a New Zealander, fell over a cliff near Inglewood and broke his neck. He lias a brother in New Zealand.

AN INTERESTING COMMENTARY MELBOURNE, Nov. 29.

Mr AA'att, ex-speaker and member of the House of Representatives, and Chairman of Directors of the Taranaki Oilfields Limited. (New Zealand) criticised oil prospecting in Australia and New Zealand. In his annual address to shareholders of the Taranaki Oil Coy., he said- Tt had to he remembered that commercial oil production in A us-' tralia and New Zealand was not yet an accomplished fact. The history of such prospecting as had been done was a spasmodic effort, and was not infrequently surrounded by an atmosphere calculated to alienate the sympathy of the sound business elements of the community. In fact most Australian efforts had become perilously near being a byword and the holder of shares in an oil prospecting venture. was still looked upon in some quarters as being financially speaking a little unbalanced. There had been no opportunity in Australia or Now Zealand for the general public to form a correct view of the quest for oil, but contrary to the erroneous but popular view, the search for oil was as legitimate and straight forward a business as any other. ’

FEDERAL GOVERNMENT ATTITUDE. (Received this day at 9.30 a.m). CANBERRA, Nov. 27. In the Senate. Mr Pearce stated the Government had no intention of bringing pressure to hear on the Arbitration Court to interfere in the over strike dispute. The watorsidors were endeavouring, by a species of terrorism to make the Arbitration Court how to their dictation. There was a duty on watersiders to obey the conditions laid down by the Court. Government would go to any length to preserve law and order and see that industry was carried on. He added that there was an obligation on the Labour Party to tell the men that they were in the wrong. A motion for the adjournment "as allowed to lapse,