LATEST AUSTRALIAN NEWS.

Wairarapa Daily Times, Volume XVI, Issue 5009, 25 April 1895, Page 2

LATEST AUSTRALIAN NEWS.

Bcetiml April 2<j, 11.20 u.m. Sydxkv, April 25. The Government suffered a defeat early this morning in Committee on the Local Government Bill, an amendment securing the one man one vote principle, in municipal elections being carried against the wish of the (iovcrnnicnt by 31 votes to 25. The Government is considering what effect the amendment will will have on the Bill, As a result of an accident at Saturday 's races the colt Uobbily is unlikely to race again. Mni,iioimxE, April 25. Tho inquest on tho victims of the tunnel accident has commenced, The evidence showed that a powerful dredge bad been eating away the bed of the river in tho vicinity of the tunnel for some time, while the steamer Bothwell had grounded at the spot. Indications of tho unsoundness of the bottom had been observed by air bubbles on the surface of the river, but the matter was not reported to responsible heads. There was only one air chamber instead of two as is tho custom in England, and it was shown that when the four men were in the air chamber at tho time of the inflow of water to the inner compartment, they turned off tho valve and allowed tho air to escape as they let themselves out, this destroyed thailast chance, and tho raon were imprisoned in a death trap, The half-yearly report of the National Bank shows a profit of £15,000; the Directors recommend the payment of a dividend of five per cent, on the preference capital, and after writing off tho balance of tho reconstruction expenses, the sum of £3,400 is to bo carried forward.

No dividend is to be paid on the ordinary shares.