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Evening Star, Issue 3055, 3 December 1872, Page 2

The usual meeting of the Port Chalmers Town Council was not held last night, being a holiday it was postponed it was postponed until Wednesday evening. A rifle match is expected to take place on Wednesday at the Port Chalmers Naval Brigade Butts between ten of the officers of R.M. Dido, and the same number of Port Volunteers. The Provincial Government has received intimation that the Zealandia sailed for Otago on the sth October with 267 statute adult emigrants : 190 for tiic Bluff and of the total for Messrs Brogden and Sons. No further particulars have reached Wellington, One of the speakers, at a meeting recently held at Cromwell, is resorted by the Ary us to have said : “ The b?st definition of a squatter that he ever remembered heating, by the late Mr John Hetheriugton, formerly a resident there. It was this: ‘A squatter is a biped that sirs upon his haunches and growls at civilisation.’ ” A meeting of those favorable to the formation of a canary society was held last evening at the Bull and Mouth Hotel. There was a good attendance, and it was proposed that a society be formed, to he called “ The Dunedin Canary and Poultry Association. ” A committee having been formed, with power to add to their number, farther proceedings were adjourned for a week. In addition to the collection of native timbers referred to elsewhere, Mr Blair, G.E. ; will exhibit at the Christchurch Exhibition a collection of fossils found j.n the Cayersham tunnel, plans showing the. progress of the construction of the tunnel; and three photographs of the Rangitata bridge, which was erected under his supervision. One photograph will show the work shortly after its commencement; the second, the bridge wdien tire iron work was completed ; and the third as it is now ready for traffic. At the monthly meeting of the Dunedin Fire Brigade last night, the following letter from Mr James Wilson, of Wellpark Brewery, was read: —“ On behalf of Mr George Duncan and myself, I beg to tender our best thanks to the members of the Brigade for the great services rendered to via at the late 6re at our mills and brewery, and to enclose a donation (cheque for LlO herewith) towards the sick and accident fund.” The Secretary was instructed to acknowledge with thanks the receipt of the donation. Captain Wain stated he bad aot yet seen Major Atkiusuu

on volunteer matters, but would do so and report the result at the next practice. It was resolved to ask the Corporation to supply a new uniform, to consist of trousers, coats, and boots, the present uniforms having been in use close upon six years. Messrs G, F. llcid and Buck were elected honorary members.

The Lytle ton Thnes devotes a couple of lea,'ling articles to answering those of our contemporaries who continue to be greatly exercised about the indebtedness of the Colony, actual and prospective ; and. while uotiohig the fact that these continual lamentations about our indebtedness come, almost exclusively, from among those who, directly and indirectly, have opposed and still oppose the settlement of the country and the development of its resources, observes that “ it is quite true that, adding tho Colonial to the Provincial debts, and vailing the aggregate, as it is, the Colonial liability, we owe now close ou £10,000.01)0 It is also true that, in order to tini-h the railways already authorised, about four millions more will have to be expended in the course of four years. The population of the Colony, in round numbers, is 2d7,U00, and the liability per head is therefore about £37. Supposing the population to increase at only the same rate as in 1871, we should have at the end of four years, say in 187(3, a total population of 327,000. But it is safe to assume that, with greatly stimulated immigration, the increase will be ranch larger, and that at the end of the time specified the total population of the Colony wi Ibe at least 350,000. Say that the debt is then £l4 000,000, aud we have a liability per head of £4O, which is certainly not an alarming amount. Taking everything into account—natural increase and immigration—we answer that the estimate given above is under the mark, and that the population will increase in much the same ratio as the debt, thus keeping the liability per head at or about the sum hist mentioned, £37. This, compared with the liabilities of other countries, which do not, as is the case with New Zealand, possess immense undeveloped resources, is not a very heavy burden. ’’

The fourth annual meeting of the Union Permanent Building Society was held at the Masonic Hall last evening; Mr G-. A. Campbell in the chair. The report of the past year’s transactions stated that, after making due provision for the realization of the terminating shares, and for the payment of accruing interest upon permanent shares debentures, and all other liabilities, there was a surplus profit of £166 12s Id, which, in accordance with rule 52, had been carried to the credit of the guarantee fund. The present value of the investments of the Society, after divesting the future repayments of all interest on the prospective payments, is £7,5(19 ns 7d, as follows :—Value of investments, 1871, £7,063 19s; new investments, 1872, £3,160, from which have to be deducted repayments and mortgages redeemed, £3,451 Us JOd, less interest and profits on investments for the year, £S26 18s sd, making the present value of future repayments £7,599 5s 7d. Thus the guarantee fund represents a reserved profit equal to nearly 9A per cent upon the total investments, and the reserved profit of the year is equal to nearly 3.J per cent upon the yeai’s investments. All the securities, with the exception of one which has fallen into the bands of the Society through the bankruptcy of the mortgagor, are of ample value. The security in question, however, although at present representing a considerable sum for arrears, will eventually work out without any loss to the society. The present aggregate accrued value of the investing shareholders’ subset ip tious is L 4755 12s 9d, divided into subscriptions L 4150 ss, and aggregate profit credited L 605 7s 9J, or a total of L 4755 12s 9d. The oldest shares have had a duration of 4S months, upon which the accrued profit is L 4 7a, making the office value of each of these shares L2B 7s. The average duration of each share is months ; and the average prolic per share is L2 Is Bd. The portion of profit applicable to the past year upon shares of 48 months duration is L2 Is per share, and a proportionate amount upon those of shorter age. During the year fifteen terminating shares have been converted into permanent shares, and two new permanent shares have been taken up. The directors in concluding their report congratulated the shareholders up.m the prosperous state of the Society, which they said amply demonstrated the wisdom of the change lately effected in its cbnstitution, and the soundness of the principle upon which it was based. Mr G. H. Campbell was re-elected president; Messrs Mitchell, A. Mercer, and C. 8, Reeves re-elected directors ; Mr R. Howlisou director in the room of the late Mr Cantnll; and Mr Lanseigne shareholders’ auditor.

The attention of Volunteers is directed to a general order which appears in our advertising columns.