TELEGRAPHIC NEWS.

New Zealand Times, Volume XXXIII, Issue 5329, 26 April 1878, Page 4

TELEGRAPHIC NEWS.

(PER PRESS AOENOr.) Auckland, Thursday. Dr. Campbell, in moving the adoption of the report and balauce-sheet of the Bank of New Zealand to-day, said : —One special cause which decreased the bank’s profits was depression on the West Coast of the Middle Island, which, however, was amply provided for out of current profits. Cases of default had been fully provided for, and these were extremely rare. This reflected the highest credit on the staff. Another heavy charge on the profits had re-, suited from extending the bank’s agencies, which were not immediately remunerative. There had been no opportunity lost of extending business to the outlying districts. The bank was now represented in eighty-four localities. The reserve fund, with £25,000 added, now amounted to £825,000. He invited attention to a noticeable feature iu banking in adjoining colonies, which has a reflex action on Few Zealand banks. Sworn averages show that in Victoria alone there had been an expansion of three and a half millions in advances, against increase in deposits of little over one and a half millions. The effect iu this colony of extreme rates offered for deposits, which were necessary to adjust the capital accounts of foreign banks, was not cal culated to promote the interests of New Zealand, and the inevitable consequence would be a growing scarcity of money, and dearer rates for it. A large amount of the available capital of the colony found its way to adjust balances iu neighboring colonies. The directors proposed to revive the original project of establishing a guarantee and provident fund, with liberal contributions from the bank, for all officers henceforth joining the service. There could be no better proof of the developing powers of the New railways than the rapid increase in the price of freehold lands, and the prosperity of the colony was shown by the ability of the population to acquire freehold homesteads. Mr Firth, m seconding the adoption of the report, attributed the difference of £2,000,000 in Victoria between- deposits and advances partly to the drought, which was not experienced here ; and owing to the genial climate and fertile soil of New Zealand, it was to* institute a system of rotation of crops, which kept perennially fertile artificial grasses ana roots which do not readily grow in South Australia, which colony was confined to a large extent to the production of wheat. There they were yearly exporting the wealth of the sou, whilst doing nothing to replenish it. The average yield of wheat had been yearly less m South Australia; the average for ‘Jj® 7;f bushels to the acre, whilst in Canterbury it w« 25. and in Auckland 32- The report was adopted unanimously. G. P. Pierce and B. Tonics were dmectors ; Mr C, T Stone and 5iT - k. lonks were elected auditors The vot;es thanks were ivissed to tv directors and officers. At a sperlnl mwAHS a resolution was passed that in “ SO iu the deed of settlement in lieu of fie words ” one thousand pounds two thousand pounds ” be inserted. Wanganui, Thursday. The nominations for the Handicap Steeplechase on the Queen’s Birthday arc as follows: Arbitrator, Uira, Bully-for-You, Deborah, Awahau, Otawa, Gazelle, St. Albans, Middy Ashore, Medora, Victorine, Prince Victor, and Sportsman. Napier, Thursday. Mr. Ormond was presented to-day with avery handsome silver candelabra, valued at £2BO, the gift of a number of Hawke’s Bay settlers, in recognition of his services as Superintendent of the province. Tho Fcfcutatiou took place at tho house of Mr. xx. Mr. Allan McLean’s woolshod at Tukituki was burned to the ground to-Jay, destroying, besides the shed, about £350 worth of grass Yesterday a fire occurred at Taradale, and Mr. James Lawton’s house was burnt down. The property was uninsured. , . f The census returns show the population of Napier to be 5512, against 3iU m IbVHawke’s Bay County, 969/!W airoa County, 526; Waipawa County, 4/0-. Total for the. provincial district of Hawke s Lay, 15,-lb.

Grahamstown, Thursday. Dr. Perston, surgeon to the Thames Hospital,’ died suddenly to-day from taking an overdose of chloral, Christchurch, Thursday. The settling on the races last night passed off satisfactorily. The Jockey Club paid over the following amounts: -Redwood, £695; Webb, £247; Mallock, £236; Bay, £137; Markey, £123; O’Brien, £BS ; Lunn, £2O. There are twenty-eight entries for the Champagne Stakes, 1879, viz.:—Webb, 4; Garforth. I;'Goodman, 1; Paterson, 2; Todhunter, 1; Mallock, 4; Brabazon, 1; Lance, 3; Bedwood, 6; O’Brien, 1; Delamaino, 1; Seabright, 1. Mr. Lance’s entries include the colt St. George, purchased in Sydney for the Middle Park Stud Company. At the Beaidfcut Magistrate’s Court to-day Peter Pasche, for having gambling tables on the racecourse, received a sentence of twelve mouths’ imprisonment, with hard labor. The evidence showed that there was a hollow in the centre of the table containing machinery, which enabled the prisoner to atop the revolving needle wherever he wished, and thus swindle the public with impunity. James Eyan, for playing the three-card trick on the racecourse, was sentenced to nine months' imprisonment, with hard labor. A man was buried by a fall of earth ,in Wcllahancl’s Track yesterday. The relief party, after three hours’ digging, could hear the man speak, but had not, when last heard from, succeeded in accomplishing his rescue. Oajiaeu, Thursday. At the Resident Magistrate’s Court to-day, Jas. Pare, alias “ Jimmy the Devil,” charged with forgery, was committed for trial at the Supreme Court at Dunedin. The committee of the Northern Agricultural and Pastoral Association has approved of the formation in the Middle Island of an agricultural society. A meeting will take place on Monday for the formation of an early closing association. Dunedin, Thursday. Bates, Size, and Co., as attorneys for Perry Davis, have instituted proceedings in the Supremo Court against one 'Wilkin, as manufacturer of painkiller, said to be an imitation of Perry Davis’s patent. The other defendants are Wilkin’s sub-agents, Messrs. Hayman and Co., and Lange and Thoneman. An ex jmrtc motion was waived, to give the defendant an opportunity of being heard.