YESTERDAY’S TELEGRAMS.

Gisborne Times, Volume XXV, Issue 2042, 20 November 1907, Page 1

YESTERDAY’S TELEGRAMS.

Press Association. AUCKLAND

• P,ntt<*rson, in. a statement rim cl© hi defence of charges of a broach of ,tho Ba-nkrupitcy Act at flawera, said that ho seit up business at Hawera in- IS9O adt-ii. his brotihor ».nd Craig, witness and his brother- putting in £3OO each,, and Craig £SOO. About fifteen months later witness bought Craig o-ut for £750. Two years hater ho purchased tdio interest of liis brother for £IOOO. Ho was enabled to, do .tiliis by Ills landlord advancing him £2OOO at 20 per cent. Ho also borrowed £OOO lait 7 l>er cent-., the business then showing a net xirofit of £IOOO a year clear of liis own drawings. In Soptembelr, 1903, he had! in face credit of £lßl3 through selling out a.t Opunake and Stratford'. lie had an -abnormlall-y large stock at flaw-era. Finances beoamo congested., and ho gave bills ■to the larger creditors, spread over 18 months, involving the payment of £420 per riiohith. He kept .these payments aip seven -mon-ths, when, ho found difficulty in obtaining supplies. After a year had elapsed lie had paid £3OOO on the original agreement. iHe .Called another meeting of liis creditors. Tho warehousemeai real,owed tho hills for two years on Buchanan agreeing to put £IOOO into the'business, and debtor’s wifo offering to sell her property. All his wife’s property had gone in the business, and his father had leant him £6OO. Ho denied having sold

the stock under cost price. Ho at/tri,bated the failure to the warehouses refusing to continue supplying goods. Buchanan, who .was to have gone into partnership with him, finally withdrew. CHK/ISTCHUBOH. Tho annual meeting of the New Zealand Shipping Company was held to-day. The h alia nce-shcet showed the licit profit on the year’s work, after'■ deducting depreciation and all charges, had been £42,143 4s 7d; tho balance -brought forward from itho previous year was £15,751 12s Bd, making a total of £55,894 17s 3d. The proposed dividend of 5 >er cent, will absorb £23,692.; the lala/nce te interest account' was £21,442 Is sd, leaving a balance to, be carried! forward of' £10,760 los 10d. Tho company’s fleet is valued at £974,497 4s lOd. Tho invest - mcuts amounted to £83,941 Cs 2d; company’s land, buildings, land ,plan,t £44,309 14s Id. The company’s fleet consists of 10 steamers, of 104,383 tons, the distance covered during the year being 710,183 miles; the co-al consumed was 175,418 tons. The retiring directors and auditors were re-elected.

DUNEDIN. The Otago Central Bail-way League passed a resolution protesting against the, (treatment the line is receiving at the hands of the Government, and regretting tho apathy of district members regarding its prosecution.

■Mr.- Lindsay, who is fitting reversible trolley poles to the Dunedin tramways, has been asked by an American firm to put a price on- the invention. NEW PLYMOUTH.

.Maoris are flocking to Pa-rilrakia in great numbers. Enormous quantities of provisions have also been ordered, sufficient to. last hundreds of people for several weeks. Thetelephone at Punga-rdiu Ims been besieged all day .by Natives sending messages. -Great suppressed excitement prevails at Par ilia lea. The Herald’s representative says tlra.t of -the Niatives^liria^fitrn'iias^S^^lSall probability will happen before, all the ceremony is over, will be awaited with great interest. Mr. W. Jack, local agent of the P-üblic Trustee, had an- interview with Te Whit-i on Thursday.- .when matters of considerable imxiort-ance concerning the Natives were -discussed, TeWlmti showing wonderful keenness and a masterly grasp of the subject. Theirrophet’s son is a man of more European ideas. If he succeeds to his father’s position Pariliaka will be run on much more modern lines. WELLINGTON. The Wellington Hospital Trustees ■to-day adopted a recommendation to •the effect that competitive architectural designs for improvement to the general hospital buildings bo invited,, the scheme to embrace an extension. capable, of -providing dto-uWe the racco-minuo-dd-t-ion -at present afforded, but arranged so that sections of improvements can be made from time to time, till tho whole d esig-ii is' cbm plc-tcd. -