AUSTRALIAN NEWS.

Waikato Times, Volume XXXVII, Issue 2976, 11 August 1891, Page 3

AUSTRALIAN NEWS.

(BY ELECTRIC TELEGRAPH-COPYRIGHT) Mklbourxk, August 9. At a mealing of the shareholders in the Tramway Company dissatisfaction was expressed with tho management, it was poiuted out that the shrinkage in stock represented a value of no les3 than five million (?) sterling. This was alleged to be due to the watering of the shares. Hay's drapery establishment at Eaglehawk, near Sandhurst, was destoyed by lire. The damage is estimated at £12,000. The New Zealand companies have risks, but the amount is not known at present. The recent Hoods have caused damnge to the railways to the extent of £-3,000. Sydney, August 9. The full Court has ruled that tho inscrtion of a man's name in a trade circular is libellous, and that no question of privilege could be entertained even though the circular was of a confidential nature. The leading business men of the uity assembled this afternoon for the purpose of presenting Mr Giblin, manager of the Bank of New Zealand, who has been transferred to Auckland, with a puree of 300 sovereigns. Mr \V. McMillan, the late Colonial Treaaurtr, presided at the gathering. August 10. Cole, the clerk in the Commercial Banking Company, who defrauded the bank of £8500 by means of forged office warrants has been to seven years penal servitude. Watorhouse, the defaulting accountant of tho Commercial Bank has been arrested in Lsndon. Thursday Lslaxd, August S. The machinery of the Australian cruisers worked faultlessly throughout the voyage. The officers are convinced they are good sea boats, but they have the disadvantage of being very wet in rough seas. Hoisaist, August 0. A deputation from the Banks waited on the Premier yesterday, and ofl»red to negotiate tho Bank of Van Dieman's Land notes under Government guarantee. The offer was accepted.