TELEGRAMS.

Inangahua Times, Volume VIII, Issue 1316, 29 October 1883, Page 2

TELEGRAMS.

—^_^_ — - (feom our own cobrbspondknt. ) WBLLIUOTONr, 24. The Government have decided so far in appointing one assignee in bankruptcy in each of the four large centres, viz : — Dunedin, Christchurch, , Welling! on, and Auckland. The names of those appointed are for the present withheld from publication. Auckland, 25. The Bank of New Zealand's half- , yearly meeting was held to-day. The ' net pr fits for the half-year are repor- [ ted as £84,500, being rather loss than those of the last half-year, the usual dividend of 15 per dent, was declared, £25,000 was placed to the reserve fund, and £8900 carried forward. The coin and money at short call in ' London is £1,200,000. The deposits and advances have both somewhat increased as compared with the previous half-year. The Chairman, in moving the adop--1 tion of the report, said the slight decrease in circulation and receivable 1 and payable were due to the general inaciivityof business throughout the colony, and the less active exchange operations pertaining to this season of the year, which the balance sheet comprises. The deposits exhibited a substantial increase, and advances were also slightly greater than last half-year.

He anticipated a tight money market for the next six months, but the tendency was now in the light direction. Imports were lessening, so affording relief to the heavy stocks now in co onial warehouses. The season promised favorably for both agricultural and pastoral pursuits, and there appeared to >c a reasonable pro abilty of a fair market for our products. The influence of the recent large shipments from the south was being felt in the stock markets, and enhanced prices were being o tamed by producers, while the numerous cheese and butter factories being established throughout the country afforded graziers a fair prospect of profit from their labours. He defended the bank against the charge that they exercised severe pressure in consequence of inability to afford ordinary facilities for customers. The sworn rei urns of the '»ai*k showed that despite any effort to the contrary advances continued to increase. The advances of June quarter for 1882 were two millions and a half greater tiian iv the like quarter of the previous year, and the same quarter of the current year showed a further increase of £700, 000. It was impossible that an increase at such a ratio could be continned, but the ptflicy of tb« Bank of New Zealand would be to afford reasonable support to every deserving customer, and where such support was denied it might be taken for granted that the request had not been within the limits of legitimate business. The report was adopted. The Hon. F. Whitaker was elected a director.