[Continued from third page of paper.] the world in letters of gold and of fire ? Under other circumstances that would have been treason. And so here men do not in the hurry of the moment carefully weigh half-an-ounce of this expression or a few grains of that. When the heart is full of a snbjfct it finds pret'y speedy utterance, and the Star did not forget at that time the transactions which had taken place in Mick'and a little time prior—the failure of jmtice by the escape of suppored criminals : and the fact of the poor wretched man who committed suicide from the treat ment he received upon the croldfields. Now is it supposed or even hinted that any damage has been done to Mr Fraser by reason of a few intemperate words ? I ask you to consider that when you are asked to punish these men in this wiy, to brand them as criminals and to impair their usefulness for ever. Of what avail would it be supposing you were to find —which. I believe, it is impossible— that the defendants are guilty of libel ? Of what avail would it be afterwards for the clever pen which has often wrif-'e > in the canse of justice in *his city again fowiite You m'ffht go. your friends roisht go. Knd the citizens might go and invoke the aid of that pen, but you would be met at onca with this : No. you have broken it ; you have fixed upon the character of the person whr uses it the stigma of a libeller, and therefore the words he writes. however wise, however just. however true, a ye, of no avail, because he hiis been stamped by you with the nnme of criminal. You see, gentlemen, men do not consider the trufi bearings of transactions of this soit. I do not- believe that Mr Fraser ever considered the position he was putting the defendants in in this case. Suppose a jury could he found to find them guilty on such a charge as this the result would be a loss to the com munity a damaee to the community, for it is something to still a voice or a pen which is fearless in the cause of that which is ri&ht, although sometimes it may go beyond the ordinary line which men draw, although it may transgress in matters of courtesy or something of that sort. Yet it will be a crime for citizens to place any m;>n who is willmer to work for the benefit of hh . countrymen beyond the Unft where he can work safely and well Gentlemen, you have been told, and told rightly, th;>fc th-sre must be malice shown before you can convict the defendants, — not only that the state ments published may to some extent be derogatory to the plaintiff, but that there must he malice chown, Now how have they shown malice in this case ? The state ments published do not show malice on the part of the defendants Where if the malice in their private relations? I think Mr Fra<>er said he was in tolerably int'mate friendship with one of the defendants ; that he had been accustomed to consider him .ira fjiend up to this time— where is the malice ? I* it nothing that you ehould have to write concerning those with whom you are in friendly relations, and re proving them for -what you consider to be wrong 1 Is it nothing that you should be called upon in the performance of a public duty to do that which violates some of your most tender feelings ? If it nothins?. that you should be called upon to condemn the action of magistrates—of men who are looked to with respect as administrators of the law ? But the defendants having fulfilled their , duty irrespective of their personal feelinps of : friendship having fulfilled a sacred duty, are they to be dragged before the tuhunal of , their countrymen and acensed of having committed a crime ? If it had bepn shewn that the defendants were actuated by dis honourable motives—if to gratify some lont' felt feeling of spite.—if with the insatiable craving tor notoriety which some men feel ; if the paper had at attenripted to Hilly a fair reputation simply for the sake of casting a stigma upon it ; if this was done to gratify a malicious feeling, or for the sake of filthy lucre ; if this was the the spirit which had animated the defen dants, then you might w< 11 be called on to infer malice. But is it so here? TJere is a magistrate perfotming a public duty, and he chooses to go out of his way to attack the police, and to s^me extent seemintrlv to sym pathise with the man who had fallen into this trap. Does he not put that interpre-ion upon it himself ? Does he not say that any . feeling of eympsf y in the matter could not be helped ; that he must do his duty and fine Manning £200. He could not have fined him i less; it is absolute in the Act, and in the regulations that it must be so. When the case was so bad that the energetic and elo quent counsel for Manning, Mr Macdonald, could rot raise any defence, was it for . the magistrate to go out of his way ' and express a FOTt of maudlin sympathy ■with the man who had fallen into the trap, and to blaoae the police be- i caus- they had found rhe man out, ? Would not any of you feel surprised to find a very serious accusation made against you for using even stronger language than was con tained in these articles ? I ask you to con sider whether it is not better even that the Press should have some license, if it comes to that, than to be stopped ? Contrast in your own minds the condition of the Press in Amark-a and in France or Spain In America you have, an almost un bounded license of the Press. We pee that the newspapers of that country constantly contain statements of the character of individuals, of the actions of their prominent public men and the more retired members of society. Into the privacy of their lives those ravenous feeders on gar bage have followed them that they may draw them forth from the sanctity of private life and make th»m the subjects of sensational articles in their columns—a license thnt would not be endured in this colopy of in sny portion of the British Fmpire. I will ask you if even that would not be better than the condition of those countries where the strong arm or the sword of the oppressor breaks down the liberties of the people— which stills the voice of the great champion of their rights—a free Press ! Here you have a criminal action for libel. I have not been bo long at tbe bar. and my course of reading has not been perbans so deep as that of those with whom I am associated in this case on the r.ther side, but I do not remember, in the peculiar circumstances of this case, a criminal prosecution conducted upon such principles. Ido not remember to baye heard or read of a case where a magis trate Dad obtained a criminal information against the publishers of a paper for the publication of such articles as those now complained of. Have you heard of any ill effect to Mr Fraser ? Have you heard that he has Wen suspended by the Government, or that public odium has been cast upon him ? The people at the Thames may have witnessed some display of feeling on foe mat ter. You picture to yourselves a class of men in the community who, in such circumstances as existed, are trying to find out some utter . ances on the part of the writers of a i vigorous and racy Press, whose fri-e and fear less expression of opinion-hag' raised 'in the commnnity such enemies. You may picture to yourselves such men when, at last itseems, that the wm«rs in this paper have pleased themselves in the power of the criminal law. It hashaopenerl over and over again that the persons who feel the strongest"keep in the bwk ground and are not seen, whomever come

to the front, but make use of conveuint tools: vvho get the monkey to draw the ches"ut> out of the fire ; who push such persons for i ward as instruments to do that by which ! they themselves unseen are to heap their vengeance on political opponents. Are yor by your verdict to let it be supposed that 1 that anything of thab kind cars be accom plished ? I would like to know whethe thtre was not at any rate some eviilenc< given that an actual stab was made by th< magistrate at the character of men ; whether proper inferences were not drawii from his uuwise and intemperate statements; whether he was not strongly admonished b\ the Press, which is after all the great guar dian of the public welfare, on the conduct he was pursuing in making those comments. There must have been cases where men h:ive been actually assailed in thf-i' character, where they have had actually imputed to them those things which rend tr^d them a disgrace to their fellow creatures, and rendered them unworthy ot the companionship of gentlemen or men ot honour. Gentlemen, you have been tr !d wrongly that if \ou acquit the defendants you to some extent convict Mr Fraser. I tell you it is not fo ; but if on the statements which you have beard made in the witness box by Mr Fraseryou convict the defendants, its effect is that ycu place a barm upon them, and shew that they are not worthy of the eondfience of their fellow-citizens—that tbe> are nr>t worthy of the companionship of men of honour. What does the offence amount to? It is nothing more than overstrained public comment 1 alU>w that it is so, but Ido not admit that it is libel. It may be too strong, and the comments of Mr Fraser may be susceptible of explanation. If he had condescended to give any explanation the matter might be set right ; buc he does not do that. He goes with a high hand and demands that these men shall be punished. "'They have called me a panderer to these people at the Thames, and I am not so, and 1 want to brand them as criminals. I won't l c content with a civil verdict. lam for the h.st weight of flesh—the bond, and nothing but the bond. I will go to the very utter most that I can against them. If I got £50 or £100 damages from a jury that would not satisfy me. It would not punish them li I get them imprisoned—if I get them branded as rebels.—then my angry feelings will be satisfied to some extent. 'They will betaugh' ;hat they arc not to be allowed to speak ;ihout me in that manner." I would point <>ut to you that my learned fiiend, Mi Gillies, anticipating the defence I should make, pointed to the questions I asked Mr Fraser. I dare say you could see the drift ot tlsose questions. It was this : It was to show you that if the defendants had been ;inxiouM to damage Mr Fraser's character, if they had nourished long a feeling of vindic tiveness against him, if they had marked him for their victim, they could easily have collected materials, for in every man's life ihere can be more or less collected, and es pecially in public men. They could have gratified their spite if they had an\ against Mr Fraser. They could h.rw gratified their, animosity if they had it. They said his comments were un just, injudicious, and calculated to make peo ple believe that he had 83 7mf>athy with speci men-stealera, and so did damaue to the iaw which he ought to uphold. That was then object, and not to damage Mr Fraser. I' would have been useless in this case to put in a plea of justification. I could imagine the case of a magistrate who was guilty of all sorts of enormity, who went about the coun try drinking in unlicensed houses, nlaying at ca'ils unt.ill two o'clock in the morning, p»y ing for drinks in unlicensed houses. I coulrl imagine him tunning riot in every way, and if an action for libel were brought against persons vvho had spoken about these things —if on any of these points a plea of justifica tion were put in, then evidence of these very things could be given against him to sho« that he was not fi ling a proper position, and that he was not fit to hold the position of magistrate. In this case if a plea of justifi cation had I een put in we could only have shewn that these articles were justified and true ; that they were true and necessary for the public good There are no distinct charges to prove the trmh of They are but inferences « rawn from his own statements. If a newspaper cherished against a public man any deep -eated design, and if the writers were men of equal ability with the present defendants, they could attack him without transgressing the law of libel. They could dart arrow after arrow, spear after spear, into his heait until nearly the life was crushed out of the man. I remember the case of the Governor of Victoria, a brave and honourable officer of her Majesty's navy, who happened to give offVnce to one lie spaper alone in Melbourne. That paper pursued him with relentlessferocivy —it trod upon his steps by day and by night; it never came within the Jaw of libel; it was simply dogging his steps everywhere he went; it was like a shadow hunting him, that it might open some rsnkling wound, and cause it to break and flow forth afresh. That gentleman left his government, but he left it dead, and almost the day before he died this paper darted into him the last possible dart—the dart that broke his heart. But, gentlemen, that was not the conduct here. In that case they kept out of the law of libel, out of its clutches, and yet the greatest annoyance to any man i* to t;ive him forth from the country. Men have been expatriated by the Press quite as often as they have been sent into exile by the Government of tyrants. But is there any thing of this sort about the strictures of this Star? Which are they ? These men speaking in Aucki.-md to Mr Fraser at the Thames, say —" You have not done right in making comments in this way : they are not right, we tell you so." Well, Mr Fras-r thinks he will make them pay for it. Not in money, but; in a more severe manner. He biin^s them with the consciousness of success be fore you. Gentlemen, I will not take up your time any longer. I had a few more notes to address you upon, i ut I do not think I need do so. It seems to me that you will remember too viell the debt that you and the public areunderto thepersonsbeforeyou. that you will remember too well the usefulness of a free Press in a community like this. If you are to rejoice in freedom in protection agaiDSt wrongdoers, .in your position as politicians, as men of business, or as philan thropists, then you must see that the Preas shall be perfectly free—that it shall be guided by the dictates of honesty and discretion, free to express itself—free as the wind—free as the interchange of thought throughou the world, and even if it does transgress to some little extent at times— and you know that to err is mortal yet at any rate when it is brought before a jury of its countrymen it shall not be branded —it shall not be swept beyond the pale of humanity— beyond the pale of civilised existence—beyond the pale of freedom

beyond the pale of the friendship of men by being branded by a jury of its countrymen as criminal, worthy of bonds, worthy of stripes, worthy of punishment. Does the evidence show that the defendants have been guilty of an offence against th< law? I ai-k you as men of common sense? J ask you as men of education; I ask you an freemen, and as Englishmen, do the stricture contained in these articles merit iv the slight ebt degree that the defendants before you should have indelibly fixed against them the brand of criminals

The Chief Justice then summed up brief ly but explicitly. We had intended giving a full summary of His Honoi's remarks to day, but tho reports of the morning papers o-ivo it so fully that its publication in our columns would have been altogether antici pated. The jury retired shortly after four o'clock, and returned three or four times during- the evening to inform the Court that it was im possible for them to a-.rree. On the first occasion the foreman states that the jurj^ were unanimous in the conclusion that Capt. Fraser's remarks were injudicious, and also that the Stctr's comments were intemperate. He added that there was he beleived a majority, in fact all, with one or two excep tions considered the articles libellous. (Here four of the jurymen said "No! No!") Mr Firth continued to say that at any rate there was no prospect of agreement. His Honor remitted the. jury to their duties and adjourned the Court tiil nine o'clock, after remarking- upon the unsatisfactory state of the law, which compelled him to keep them without refreshments

At nine o'clock the jury announced that there was still no prospect of agreement. His Honor made some remarks upon tho simplicity of the facts and thought that if they applied themselves determinedly to arrive at a decision they might do so. He said that to his mind this case was a very trivial one, although so much had been made of it. It was not like many of thn serious matters that came before him. Although there was nothing in the case to excuse inability to agree, yet from honoring the state of health of one of the jurymen he could not be justified in withholding- refreshments from them. The jury were then locked up for the night, refreshments being allowed at their own cost.

THIS DAY.

The CVrnrt sat to-dny at ten o'clock

At that hour the jury were unlocked, and entered their box

A few minutes Inter his Honor took his seat. There was a great crowd of the general public in attendance. The names; of the jury having been called over, The Deputy Registrar asked the foreman if they had agreed upon their verdict. Mr Firth, the foreman, snid, before giving an answer he wished, with his Honor's permis sion, to malce an explanation with regard to his statement made in Court, after the retire ment of the jury yesterday. According- to the morning papers, a wrong impression had got abroad. His Honor: According to tho morning papers ? Why, you ought never to have seen them. Wo will suppose, if you please, (hat you have not seen them until you have dis posed of this case. lean allow of no explana tions, unless you wish for any direction of the Court in any matter. Mr Firth rejoined that it was not in reference to that he wished to spenk. Tho jury were risked again if they hud agreed on their verdict. Mr Firth : We have not. His Honor said it was usual in such enscs for the Court to immediately decide whether the new trial should bo held at the same sittings or not. It would be impossible, under present circumstances, to have another trial at the present sittings, to if it was applied for he should have to order it for the next sittings. Mr Firth was then asked by the Court what the matter was which he wished explain Mr Firth replied that yesterday ho had made n statement in court to the effect that he believed a majority of tho jury would ngree to a verdict that the articles com plained of were libellous. He found in making that statement lie was labouring under a mistake (sensation). The jury were then discharged without giving" a verdict. (Before lli.s Honor and a Special Jury. ALLEGED BREACH OF CONTRACT —NELSON IRELAND V BItOGDEN AND SONS. Mr Reea appeared for the plaintiff, who is a contractor, and Mr MacCormick for the de fendants, who are the contractors under the Colonial GJovornment for the construction of tho Auckland and Waikato Ruilwny. The action wa.s brought by the plaintiff to recover the sum of £500 damages against the defendants for loss sustained in consequence of defendants preventing the plaintiff carry ing out a certain agreement. Mr Rossi, in opening the case, stated the issues to be as follows : —

Ist. Did the plaintiff and defendants, on sth June, 1872, ngree in a memorandum of agreement, dated the lGth May, 1872, by which the plaintiff undertook to quarry 1,500 cubic yards of stone, and to deliver and stack the same on the Waikato Railway, at the rate of 10s Gd per cubic yard, and by which the defendants agreed to pay such sum for the work ?

2nd. Did the plaintiff duly enter upon and perform such contrnct ?

3rd. Did the plaintiff incur trouble and expense on entering upon such contract ?

4th. Was plaintiff always ready and willing to complete such contract ?

sth. Did defendants refuse to allow plaintiff to carry out the contract to the injury and loss of the plaintiff?

6th. What sum, if any, is due to the plain tiff from the defendants for damage thus sustained ?

Originally there were two distinct claims made by the plaintiff, the first being a claim for payment for 221 cubic yards quarried before the work was stopped. This claim it had been agreed to-withdraw, and the case was heard wholly upon the breach of agree ment by which the learned counsel said he should be able to show that the plaintiff had sustained loss of profit, expense, and damages by delay, &c, amounting to £320.

Mr Nelson Ireland, the plaintiff, was then called, but before his evidence was taken a great argument took place as to whether Mr Lackland's examination, taken before the Registrar before he left the colony, could be considered as already put in as evidence. This was ultimately settled; in the affirma tive, and the memorandum of agreement with the specifications were also put in.

EDEN ELECTION.—MR. REES AS A CANDIDATE.

Pursuant to advertisement, Mr. W. L. Rees met the electors of the District of Eden, in the Presbyterian School-room, New market, last evening. The room was well filled, and the proceedings were of an orderly character throughout. — Mr. T. Wrigley occupied the chah\—Mr. Rees first stated that his object in meeting them was to solicit their suffrages for his election to the seat in the Provincial Council ren dered vacant by the demise of Mr. Andrew Beveridge. He would not occupy their attention long in explaining his views to ihem. The questions which would come before them most prominently had more relation to the General than to the Provin cial Government. Although a candidate for the vacant seat in the Provincial Council, the greater consideration which had led him to become a candidate was, that it would afford him a better opportu nity to judge of the general position of the colony and promote its welfare. So long as the Provincial Government was in existence, and until it was superseded by the General Government, there would be cer

tain important measures to be undertaken which reouired the attention of men of ability. The smaller local interests must be looked to : but besides these they would have to make laws for the country, and would before long be compelled to face the im portant questions contingent upon the edu cation tax. The taxation imposed by the General Government was for their own purposes of revenue and not for Provincial purposes. Anent this question, he spoke of the condition of the provinces of Otago and Canterbury and the finance they derived from the existing arrangement with regard to the land fund. The remarks made upon this question were consistent with the views first enunciated by Mr. Pees thereon.— The provincial authorities had not sufficient money to spend upon local matters and would meet with great difficulty in raising additional taxation. With regard to the abolition of the provinces—the whole of them, not a select few—he considered that although the work of governing might not be improved upon, yet good would be effected by bringing the Govern ment and the governed face to face. No one had yet suggested what was to take the place of the Provincial form of Government, aud he considered the appointment of a travelling lawyer to report upon the wants of certain districts was an utter absurdity. If returned he should have an opportunity of inquiring into the state of Provincial Institutions. He considered the statutes of New Zealand were in a worse condition than the statutes of any other colony in the world, and this was merely because the colony had not availed itself of the services of experienced draftsmen, as had been done in Victoria. No man could venture to accuse the New Zealand statutes of being either sensible, clear, or concise. In relation to reform in these matters, he might be of some little use in the Council. There was a growing feeling that the whole of the provinces should be swept away, and then the provincial laws would have to be codified. It would be necessary that the representatives should have the laws at their fingers' ends, so as to frame the gene ral code satisfactorily, when the provincial ones should be repealed. The taxation would have to be increased, and people should see to it that their representatives should be prepared to bring clear heads to the consi deration of the questions which would arise, and who were prepared to speak their minds in defence of the rights of the people. Other questions would arise, but the special ones would be those of finance and the provincial questions, and the representatives should be persons able to grapple with these questions—who were prepared to give their time and attention to them, and take a com mon .stand with other Auckland members in order to enforce upon the General Govern ment the rights of the people. In the pre sent contest there was not likely to be any personal animus. He thoroughly respected Mr. May ; but it might have been that, had Mr. May been first in the field, he should still have con tested the election. Each of course would do what he" considered wisest and best to solicit their votes, but he did not suppose either would make a personal canvass. He felt that, as one commencing his political life, it was incumbent upon him to try and awaken the people from the disgraceful lethargy into which they had fallen with re card to politics. If returned he would look after their interests while a member of the Council. The first duty would be to look after the interests of those who had returned him, but he should also take a wider scope of thought, and deem it right to look after their interests in relation to their position as colonists of Now Zealand. The members of | the Council should so debate and study as to be able to pass resolutions, and the members of the General Assembly should be able to support measures which would in < peace and quietness enable the colony to tide over the crisis which was very rapidly approaching. The only local topics upon which there was strong feeling were the slaughter-house and the toll-bar. A good many of them would say that the toll-bar should be taken to the slaughter house (laughter), and then both removed to a con- j siderable distance. It seemed to him that the toll-bars were a heavy and unjust tax upon the traffic on the public roads, and must press unduly and heavily, and especially upon the people of the district. It might be necessary to raise funds beyond what accumulated from the Go vernment votes for the purpose of keeping the roads in good repair ; but it would be best to levy a rate upon property. Property was increased in value by the proximity of good roads and railways, and yet the owners of some property, the value of which would be thus increased to a tre mendous extent, did not pay anytaxes what ever. In relation to the slaughter-house, he said that hehad heardagood deal about it, but had not personally enquired in the matter. He believed it to be the source of discontent, unhealthiness, and discomfort to the commu nity. In all places of which he knew of, the nuisance of slaughter-houses was one of the first evils which were remedied. Both in England and France there were very stringent regulations in force in order to decrease the nuisance. These matters should receive his attention, and, if it lay in his power, both evils, the toll-bar and slaughter-house, should be done away with. He had given them a short exposition of his views and of the duties of a representative, and the way those duties ought to be per formed, and if those present were of opinion that he ought to be elected he trusted that they would endeavour to secure his return. He believed that in this matter all personal friendships or antipathies should cease, and that they were morally bound to send to the Provincial Council and the General Assembly men who they believe will best do their work. Therefore, although he was a comparative stranger to nearly all, and was opposing one whom was known and re spected throughout the district; although he had not personal claims, if they considered he was better able to do the work than Mr. May they were bound in duty to return him. If they considered Mr. May was equally capable of doing what they wanted him to do, they would return him. If Mr. May was returned, he (Mr. Rees) would not be sorry, and if- they returned himself he should at any rate ac complish what he desired under pre sent circumstances, and would do the best he could for his constituents.—Questions were invited, but only one was put, and that had reference to the slaughter-house, and received the answer which might have been gathered from Mr. Rees' previous remarks upon the subject. A vote of confidence in Mr. Rees was proposed by Mr. Kilgour, seconded by Mr. John Sceats, and carried unanimously. Mr. Rees returned his thanks, and a vote of thanks having been accorded to \ the chairman, the meeting separated.

UNKNOWN

The ordinary half-yearly meeting of the Bank of New Zealand was held at the offices of the Bank at noon to-day. The Eon. C. J Taylor, Chairman of Directors, presided. There was a good attendance of shareholders. After the usual preliminaries Mr Murdoch (the inspector) read the report and balance sheet for the past half-year, which were as follows :— Twenty-sixth Eepnrt of the Directors of the Bank of New Zealand, to the Half-yearly General Meeting of the Proprietors, held at the Banking-house, Auckland, on Wednesday, the 21st October, 18(4. The Directors have pleasure in connratulatingr Shareholders on the continued success of the Lank a operations, as evidenced in the following report and balance-sheet: — The net profit at 30th after making ami'le appropriation for all b»d and doubtful rirpe dfocies. and forreiluc ion of Bank premises and f'jrnitur" accounts, amounts to .. £45,703 10 10 To which has to be add-d Balance of undivided profit at Slst March, 18 4 £13,202 9 5 Making a total available for division of.. £58,010 C 3 The foi'owing appropriation of which is now recommi-nded — To (aymont of divi dend at the ratf; of 10 per cent, per annum £30,000 0 0 To bonus of 5'- pr share, equ 1 to 5 per cent, per annum ..£15.000 0 0 To ta'ance >iirri-d to piofu anil loas new account .. .. £13,910 G 3 £58,916 C 8 The dividend and bonus wil be paynb c at head office, Auckland, on Friday, the 23rd October, and at branches on receipt of advice. For the Board of Directors. Cua.ui/es J. Taylor, Chairman. Aggregate Balance-sheet of the Bank of N"ew Zealand at 30th September, 1874, including London Office at •30ih Juue. 1874. Dr. £ s. d- Bank >tock 600,000 0 0 lieserve Fund 18't.OOO 0 0 Nfites in circulation 421.158 0 0 Bill- in circulation 1,233,847 16 1 Deposits ard other liabilities .. .. 4,254,340 14 3 Balance of profit sml loss account at March 81«t, 1874 13,212 9 5 Net profit for half-yeir 45,703 10 10 £0,748,2c 2 1C 7 Cr. £ s. d Coin and cash balances .. .. 459,452 14 0 Tlu'lion on hand *nd in transitu .. 374,35110 5 Government securities . .. .. SOO.t'OO 0 0 Notes and til's of other banks .. 4,012 10 3 Landed property 25,000 4 0 Bank premises, furniture, and sta tionery 72,197 17 4 Insurance account . .. .. 2,461 1 8 Bills receivable, bills discounted, and other debts due to the bank .. 5,510,280 12 2 £8,748,202 16 7 PiIOFIT AND LOSS ACCOUNT. / Dr. & s- d- To dividend at the rate of 10 percent. per annum 30,000 0 0 To bonus of 5s per chare, equal to 5 percent 15,000 0 0 To balance carried to profit aud loss, "new account" .. .. . 13.916 6 3 £58 916 6 3 Cr. £ 8. d. By balance of profit and loss at Slst March, 1874 18,212 9 5 By net profit for hnlf-year, after writing off bad debts .. .. 45,703 16 10 £58,916 6 3 RESERVE FUND. Dr. £ b. d. ToLalance 180,000 0 0 £180.000 0 0 Cr. £ s. d. By balance from last statement .. 180,060 0 0 £180,000 0 0 , ... ,( V T)io ay AudltPd{jAM i ,B Watts

The CHAIBMAN said, in moving the adop tion of the report which has just been read, it ia no small satisfaction to me to have only matters of a congratulatory character to which to refer. When I had the pleasure to occupy this chair at our last meeting, the prospects of business appeared to warrant me in holding out a hope of the result of this half-year's operations being more satisfac tory than the previous one, and I am glad to point to the report which has just been read as evidence that I was not wrong in my an ticipations. We have had, on the whole, a very satisfactory half-year ; business, as shewn in the balance-sheet, has been well maintained, and rates, though considerably lower than in Australia, have not been dis turbed, and have yielded a fair return on the Bank's operations. Although we must reckon on fluctuations in business, I see nothing to prevent a continuance of at least as favourable results ; but this is a matter which rests very much in shareholders' own hands, as it is in no small degree to their support and influence that we are indebted for the position the Bank occupies. With the assistance of shareholders, and the same support from the public, which the Bank is ever ready to reciprocate with liberal dealing, its position may not onl}7' be maintained but improved, and with improvement we may reasonably look for increased profits. During the half-year there has been ample outlet for money, and the Bank's resources have been very actively employed. I understand that, although the import trade of the colony has continued heavy, andthe demand for goods has been seriously affected by the unusually severe weather, which has given us this year at least four months of winter, the prospects of the season are reckoned fairly satisfac tory. We know that the population is steadily and largely increasing ; that public works are being vigorously prosecuted ; and the local market for staple products is well maintained ; and though there has been a de preciation in the value of wheat in the English market, it has been more than coun terbalanced by the continued high prices of the more important export wool. Al though there are not wanting elements in our future prospects to suggest great cau tion, I think we have ample ground for hope and confidence in the future of the colony. It now only remains for me to move, " That the report and balance-sheet, as ' read, be adopted, and circulated among the share holders."

The adoption was carried unanimously. The Hon. James Williamson was elected a director of the Bank in the room of the Hon. C. J. Taylor, who retires. The Hon. C. J. Taylor was elected auditor, for the ensuing year. A vote of thanks -was passed to the directors and efficers of the Bank for their services during the past half-year The Chairman and Mr Murdoch briefly responded. The latter gentlemen called attention to the bonus of 10 per cent, which had been granted to the staff this half year. He thought that such a concession appeale to the feelings of the officers more than the half-yearly^expvessions of thanks which were however, appreciated. He trusted that the prosperity of the Bank would admit of euch a line of action being adopted on other occasions.

The draft minutes were then, read, and the meeting separated.

rtW TVWTFft &+AK QiPfrOyWMt. t**4



The lecture last evening by Mr J. Martin, on "The Chemistry of Creation," was attended by a number of intelligent listeners. The subject was handled in Mr Martin's masterly manner, and gave great satisfaction We believe that if this course of scientific lectures could conveniently have been deliv ered in the city they would Jhave attracted larger audiences.



COPFFE !-Brown, Barrett, and Co.'s Standard j5? delicious and strong. Brnwn. Barrett and Co. s Excelsior < offee deserves preference t any Coffee on account of purity and distinctness of flavour Note the brand. Sold at almost evory g ocfiry esl ahlishment in town and provinoe — Advx. Skortt's Hair-octtting Saloo», three doors b«low



N t,fW HR! 8 -; H A M I QMFI(J JN A .dvu •■ I OF NEW SPRING AND STTMAT:r-R DLUKW MATEf.!TAL a Oi all Styles. Qualiti."! •• -' T) ■ r. C NKW J !' N- •-. ••• EW !I X EW C L ■ N A\ F-■ O\ NLW BL-.C:I . ;4 j-I.: NEW PLAf ' U •-.■•• . NKW FAN- V !.U ■ ' NEW r-fn.M P -. nkw cosruviK ■ i. m new fancy stkipks new grenadines new muslins new prints new dress materials, In every va iety of Styl.- »nd M*ivri-.'- H. ATKINS With confidence ixiv t<B attention to i-i* L-rjje • DRESS MATEHI-v!.S for the SPRING AND -UMM H R •■ Now o hind The wh'*-le selection icvr;. <•; ■. ;■.■. . .•■ Style. Va-'.etv. •• ' • •■. rfttt .- t X>" • •hj"..-. ;.-. : The JAPAN S-: -iiKrf, FA VCV m.< ■ ; COLOKEI- SllK^ a-d SL' IU--K •• r- v nsaallv b^an-.tful. ' nere is a Teri a.■/■ -■ ■:. -y select from, and th<"- bav^ "be- v i n v>" ■> by nil whi have si-f.i-i).pm Tie -I S ; the game numbers aid ou- Ir ;e- »i.- a Stock, which always give satisfac; ion PI.ArN LU-!•:: !'. i tB, .. USEFUL UOOJDti TO SELECT VROXL, And the Prices of all descuptions cf GOODft, wh?ihti Silks, Fancy Dress Materials, or PUin Goods will be found fully 10 per cent cheaper than usually chii-ged. THEM^NCHES"EK f■/?.;>;■ LO •' Is fuliy supplied with ;;h^ .o'n-yp, B;*-',-.-.- :>;;.*".•' Cali-os, Ljng Curtuns. Tab!- , (;;■., .v..., General Drapery ; and ite Pri;ea charged for all Plain Goods are the very loweat poaiblc. The Balance of B-USSIia.S ,v_ X ~..,.s CARl'Exa to be cleaved out at COtVi' JE'EICJI (A nice lot of PsUtsnis to select irosxu,: THE CLOTHING DEPARTMENT Contains a Large STOCK of Men'i, Youths', anil Boys' Suits, Coats (all styles). Tioaiera, Tronsers and Vests (both Auckland mads and imported), andtho Prices the lowest in Auckland. A LARGE STOCK OP TWBEDS IN GEKLOUG, MOSGIBL, AND IMPOSTEI?. CHEAP TWKEDS FOR BOY* •-•/.•-..;-. CRIMEAN BHtH s, ,;. : .- ■■•: HOSIKKY, I: , R X I ( !' ■ A J' I:. .. , - ■ ■ . : . ■ i ;;i ;