The Gisborne Times PUBLISHED EVERY MORNING GTSBOENE MAY 24, 1906 INFLATED VALUES.

Gisborne Times, Volume XXII, Issue 1757, 24 May 1906, Page 2

The Gisborne Times PUBLISHED EVERY MORNING GTSBOENE MAY 24, 1906 INFLATED VALUES.

Tut: speech of the Minister of Lajods* conveying a warning as to inflated land values, has naturally aroused a good deal of interest. His remarks had special application to Wellington, where he considered the boom is in full force. He said he thought it was a great injury to all concerned, because the land had been boomed far and away beyond its intrinsic values Wages had been increased, but the wage-earners found that they wore no better off than before thfc t increase. On every addition to theeffil e 3 up went the price of land, ar * went the cost of buildings and cc register ]ces, so that they were hardly w j,h o ut I ,i;er off, and the land-boomin^ DD . .mates had scooped in the money. They Jilted about stopping the operations of combines, but lie wished to heaven they would do something with these land-booming syndicates. To this the Wellington Bust makes the rejoinder : “ Under present conditions experience unfortunately proves that the fool cannot be protected against his folly, and the gamble will go on until the latest buyer cannot find yet another speculator to pay a higher price and take a higher risk, but we have never heard any legislative remedy suggested except such as would strike at the very root of private ownership of laud.”

Then tho Pont tnlcoa up tho opening; offerorl nncl in an articlo tliat is bused

on Bound logic takos tlio Valuation Department to task. “ it is,” it states, “worth «liilo for Mr Duncan and his collonguos to considor wliothor their own valuation Department is not doing somothing to promote t'lo tendency which ho very justly doplores. Do not tlio rocont striking iucroasos in the valuations of properties in tho city i moan that tho department is to a largo oxtont troating speculative valuos as roal valuos, and thus unwittingly making itself an accomplice in tlio work of inflation V It is always difficult in those matters to eliminate puroly local conditions from ones calculations, and thoro aro cortainly special causes operating to increase tho prico of land in Wellington, apart akogothor from tho oll'ects of speculations.” The writer then goes on to omphasisq that “ the process of inflation is not confined to city lands, and its operation in the country is probably of a still more baneful character. Dairy lands especially have been boomod on tho basis of child labor and tho high prices of produce, and in some of the most prosperous districts of the colony many a fanner is already foeling the pinch. As one result of the pro ess thoro is good reason to fear that many promising young settlors nro uow turning their attention to Australia, where rcdativoly cheap land is roadily obtainable. Queensland

alone lias no loss than three agents in this colony who aro authorised to offer very libornl inducoments to sottlers of tlio right class to rnako their homos in iho northern colony ; and when dairy land has boon boornod in some parts of Now Zealand, as Mr Duncan stated, to tho extravagant price of £3O an aero, it is natural that our young mon should think of turning elsewhere. The role of a prophet of evil is never a pleasant one, but we should bo glad to seo other responsible authorities repeating the Minister’s warning, with a view to saving the colony from the disastrous reaction which inußt follow the process of inflation if it is not speedily checked ” With all of which we can cordially agree, When times aro prosperous high prices of land can be borne by those having to pay rent and rates, but it is when times change for the worse that the dang r arises. The warning and comments thereon should do good service.

To-day is Empire Day. Wang nui and Takapuna races tike place to day. The steamer Sierra arrived at Sm Francitco on May 21st at 1 p m. Three “ drunlo " were dealt with in the usual manner yesterday, the Justioeß beiDg Mr H. Lewis aod Captain Cbrisp. It is anliaipated that tbero wi'.l be a vtry 1 .rgo attend icce at tho musiosl festival at Hia Majesty’s Tneatre to morrow night.

The second lecture on nursing, under the auspices of the Ambulance Association, will be given at 7.30 this evening. Messrs Dalgety and Co. are receiving entries for their Nuhaka stock sale, the last of the season, which is to be held on Wednesday next.

A dairy farm of 25 acres and another of 50 acres arc offered for sale on exceptional terms by Mr 1-. S. Desbarres. The meetiog of the oommittee o-ganiz ing the swimming bath sec al will be held in the Borough Council Chambers at 7.30 to-morrow night ins'ead of t>mght.

Captain Edwin telegraphed yesterday Stiong winds to gale from southward glass rise, an! probably fast, tides higb sea decreasing, and weather very cold,

The perversity of the weather yesterday wi'l ensure Gisborne people the pleasure of ancther onto tainmeni by Mr Audrow Black’s Conoeit Compaoy.

The quarterly meeting of Turanganui Lodge No. 7 will be held at the Ledge room at 8 o'clock this evening. The business will include the nomination of officers.

A large cutnlc- of petplo visited the beach yosterday to witness ihe storm. E lormous rollers were surging intj the river, and from an hour each way to full tide the breskw .ter and training wall were aw sh with great waves tossing over ihom.

For the musical festival at His Majesty's Theatre this evening (under the patronage of llis Worship the Mayor) the combined (jit v Band will march from the band-room at 7.30. A full bouse should greet the local talent.

There will be two senior cup football matches at Victoria Domain on Saturday, when Takitinju plays West End and IvaitiCity plays ITuia. The junior cup match starts at 2 o'clock, the rival teams being Tahiti mu and liuia.

There is to be an exceptionally interestjug match at the Gisborne Bowling Chib's green this afternoon, the fixture being an inter club one, Gisborne v. Turanganui. Play commences at 2 o’clock. Members of both clubs and their friends arc exfccu<lo{J .1,1 hearty invitation.

The attention of those intending to proceed to the Ormond social and concert to-night is especially directed to the alteration in advertisement of the time the brake will leave town. The Bailway Stables’ brake will leave the lost office at a quarter to seven this evening. The City and Wo it Eod Hickey Cube meet ai tbe Viet nil Dan tin this afternoon in tbe fir.-t Cup mV.ch. The teams are : City: Delaney, Dioea, Bayly, Wrigbt, Giddeon Pirie, Svgisson (cap'ain), Olsen, MoLaogblin, Edwards, Beeche West End: Hck>, W.-piba, Browo, Wi F.iday, Glover, Wilson (evptiio), Allen, Johoetonr, Roderick, P.t-e Harding. Mr Pavi t will have oharge of the game, Ploy starls at 3 o’clock tharp.

There is to be a funo'don at Mang papa school to-day. Spieches are to bi giveD ibis morning by several prominent gentle - m n on tbo subjet of i mpire Lubdiog. Coloml For!or deals wfih the military pba=o of the eubjeo*, Mr W. L. Rees speaks fiom the statesman's point of view, and the Rev. F. W. Ohattertoo will t.ke tho ecclesiastical side. Wo havo reoeivod the following i i<o *- tsting communioation from Te Reinga : - .. OOTIC-jE.—lluakituri Football Teem.— The Ruaiti uri Nativo is willing to put up o football Glub. and wishing you pak has to join in to help them to put a club for ltuak turi and also for T.niroti and tbe Na'ive at Ruaki uri is wishing the ones wbo ever want to join to be be o at about half-o-st two and then tbe pralice will comenece at three sharp.— \ ours sinoerely, NED W h LLAOE RU KU, Seoataiy of the Ruak'turi Football Club just at Present.” A very enjoyable gathering was hdd in His Majesty’s Theatre last evening, on tbe ocoasion of the eecond of a series ol d moss in conn-ction with tbe La Mascotte Assembly. There was a largi attendance, upwards of ninoty couples btii g present Toe floor was in splendid order, and a very choice selection of popular music was provided by Mi s McGowan. Messrs P. Doyle, P. Hushnell, and Cambridge made ino6t efficient masters of ceremonies. An excellent supper was provided by the Indies’ committee, and everything passed off in a most suecessfol manner, ttie Bccial being voted one of tbo most succcesfu- held n Gisborne for a long tune.

Whilo tbs Union Steam Ship Company’s steamer Corinna was at Timatu the other day, tbero was an exploeion of chemicd3 in connection with the fretzing chamber, and ths chief engineer, who very piuckdy rushed down to the assistance of one of tho engine ro.m bands, whom he supposed to be in danger, was overpowered !.y the fum s. ludeed, had he not been a man of robußt physique, his Mfo would have been endangered. As it iq his injuries orp serious, and be has had to leave the ship for treatment in the Wellington Hospital. For some time be oould not sp-ak, and his eyes are still bandaged and yery painful. The man whom he went to rescue eßosptd through tho stokehole. A eimilat acoidont occurred on tbo Qotinua some tints ago,

A epeoial meeting r>( tho Borough Goutt* oil is to bo bold noxt Tuesday ovoning to revise by-laws.

Among tho passo'igori eoniod on by tho b.h. Ta'uno was Jovoo, who was coming to inspoct the local military.

Messrs Williams and Kettle, Murray' Roberta and Go., Now Zealand L:au and Agency Go., and Dalgety and Go. aro observing to day as a c'ose holiday.

Tho East Coast Mountod Riil.-s’ oamp at Waeronga-a b'k* is to bo thrown open to tho public this afternoon, and a CBinp concert will bo hold this ovnning. Tbo li lies aro having a vory usoful time. A largo number of nativos arrived from tho Coaßt yesterday to participa'o in tbo tang s proooeding at Waorcnga a-bika in oomiLotion with tho death of Peka Kerokoto.

Tho Gisborne Sboepfarmcrs’ Fiozsn Meat Company lutvo rrcoived word that

the ateamor Kotiro was sheltering at Hick’s Bay until Monday. Tbo vessel left port on Friday last with a cargo of sheep for tbo Thames. Among tho paseengors carried on by tbe stoamor Talune yesterday was Mr Apirana Ngata, M ill, who had intended visiting Gisborno luting tbo day and returning that ovoning to Nspirr to rosumo his

duties at tbo To Auto Trust Commission. I His wife and father arrived from the Coast, but Ngata was carried on North. There wits a heavy southerly sea running on the coast yesterday, which interfered considerably with shipping. The s.s. Talune arrived from Napier after a rough trip, and was tendered by the Tawcra at live o’clock. The Tuatea went out at 0.510, hut was unable lo lie alongside the vessel, and returned to the river. The Tawcra east oil' after loading about «0 tons cargo under great difficulty. The Talune then proceeded to the shelter of Young Nick’s Head, it being decided to postpone the tendering of the vessel until the afternoon. About noon she returned to the usual anchorage, hut at 1.5)0, the sea having increased, the vessel resumed her voyage. The Toroa arrived from South yesterday morning, but iindin"' the sea too heavy proceeded to the shelter of the Mahia. The steamer Westralia, which passed the East Cape at <1.5)0 yesterday morning, arrived in the bay at -1.45 last evening, at dusk, and was signalled to stand by until this morning. Rater on she proceeded seaward, but whether she went on to Napier or is stands jug off until daylight is not certain. The Kotare lias been sheltering at Hick’s 1 Bay, and the Haupiri will probably be sheltering there also.