Telegraphic.

Wairarapa Daily Times, Volume IX, Issue 3015, 28 September 1888, Page 2

Telegraphic.

A Reminiscence of the Glasgow Bank Failure.

. Wellington, Friday. In Banco, before Judges Prendogast.and .Richmond, argument was heard in thecaso Stamp Commissioner v. Assets Compauy, This Company was formed'to takeover the unrealised assets of the Glasgow baiik:and the.Commissioner claimed a license fee of £2OO because the Company held land in the Gisborne district which they were farming, The Compauy contended they were not carrying on a husiness, they were existing only to die, and their operations at Gisborne could only ho considered a branch business. The effect of so wide a construction of the act would bo to tax every foreign Company holding assets in New Zealand. Tho Court held that by the articles of tho Association it was clear that the Company existed for the purpose of tailing over and cultivating land in New Zealand, and therefore ruled it carried on busiuess within the meaning of the Stamp Act 1882, and was liable to pay the maximum annual license fee of £2OO. Lat§st from the Goldfields- . Wellington, Friday, A gentleman who-has been on a visit to Mahakipawa, reports that thoro are about 1000 men there and at Waikakao, and good alluvial gold.ia being found. The quartz reefs have not yet been tested, but a number of experienced Thames miners havo arrived'for the purpose of working them. If they are found to be payable a number of leases will be applied for. The Minister of Mjne? visits Mahakipawa next weeli.