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BANKS AND PUBUIC COMPANIES.
At' the thirty-sixth half yearly meeting of
tho shareholders ' of the Bank oi Victoria,
held ou' 7th Feb., a dividend of ten por cent,
was declared. Tho report stated tho not
profits for tho past half year at £31,167
5s. Id.
The roport of tho National Insurnnoo
Company, presented at tho sixth ordinary
mooting, hold on 7t|i Fob'* wns satisfactory
to tho shareholders.' Tho Josses during 'tho
past half -year have only beon half what they
woro in tho six months ending 30th Juno,
and tho reooiptu have been considerably
nbove tbo average of previous half yoovg,
The balance, £1624, will suffice to pay off
every loss aud leave a surplus.
At the half-yearly meeting of the Gipps
Land Steam Navigation Company, Gfch Fob'.,
a dividend of 4s. per share was declared. The
balance-sheet showed cash in hand £2630
10s. aud an addition of £400 to the re
serve fund, making it £2500.
The shareholders of the Williamstown
Ga3 Company held their half-yearly meeting
on 3rd February. The financial statement
showed the company to bo in a prosperous
condition. A dividend at the rate of eight
per cent, per annum was declared.
At tho half-yearly meeting of tho Southern
dividend was declared at the rate of 10 per
Insurance Company, held on 3rd Feb., a
cent, per annum. Tho amount of business
during the half-year has been restricted by
the closing of some of the foreign agencies,
and also on account of tho lateness of the
wool season.
The half-yearly meeting of the Austra
lasian Insurance Company was held at noon,
3rd Feb., at the offices, Collins-street west.
The directors report satisfactorily to the
shareholders. The accounts from the Lon
don branch ' have been latterly of a most
encouraging nature, the underwriting there
for the past year, up to the date of the last
advices, exhibiting a very marked improve
ment on previous years. In the Life branch
department a dividend was' declared at the
rate of ten per cent, per annum.
The usual half-yearly meeting of the share
holders of the M. and H. B. Kail way Com
pany was held on 7th Feb., at the offices ;
the hon. T. T. A'Beckett in tho chair. Con
siderable discussion took place relative to the
action of the Government in withholding
from tho company a share of the wharfage
rates levied on vessels lying at the Sand- .
ridge Railway Pier, but nothing positive was
decided on. The dividend ' declared was
only 5 per cent., which is the lowest that
has been deolared for many years past, but
the smallnesB of the amount was accounted
for by the decrease in traffic aud the large
sum expended in repairs to the permanent
way and stations during tke half- year. The
report and balance sheets were unanimously
adopted after a lengthy discussion on them
had taken place. ?'??'?
An ordinary meeting of the shareholders
in the' Australian Meat Preserving Company
was held at the offices, Market-square, on
Tuesday, 7th Feb. There was a large at
tendance tt shareholders. Tho report an
nounced that the manufactory at Footscray
is{now in full -working order, and 1000 cases
of preserved meats had been shipped to Lon
don for sale. In moving the adoption of the
report tho Chairman pointed out that but
little encouragoment had been afforded the
company by the class from which they had
the most right to expectit — the graziers. Mr.
M'Dougall seconded tho motion, which was
carried. A vote of thanks was returned to
the gentleman who had acted as meat buyer ;
and a long discussion, was raised as to
whether Mr. Patrick Hayes's salary as
manager should be raised from £300 to £500
per annum, with a retrospective action till
the 1st January, 1870. Eventually, how
ever, it was ruled out of order.
The shareholders in tho Commercial Bank
held their half-yearly meeting on 7th Feb.,
aud everything passed, off very pleasantly.
Mr. Shorrard, tho chairman, in moving the
adoption of tho report, pointed out the in
crease iu the deposits, the satisfactory
manner in which tho results of the former
bad management were being romedied, and
tho generally improved position of the
bank. He also hinted that there was a like
lihood of an endeavor being shortly^ mado on
the part of the directors to obtain a share
of tho Government business. Mr.- Sherrard,
in referring to his approaching departure
for Europe, said that, as a shareholder, he
had every confidence in leaving matters to
tho other members of the board, and to the
general manager, Mr. Turner. That the
meeting shared in this confidence was evi
dent ; and after passing a vote of thanks to
Mr. Sherrard, they passed a special one to
Mr. Turner, for the energy and ability he
had displayed since his appointment.
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