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Oamaru Mail, Volume IV, Issue 1255, 26 April 1880, Page 2

The Harbor six per cent, loan of LIOO,OOO Tiaa been floated at L 96 14s. The terms might appear to the casual observer to be less favorable than those upon which the late Municipal loan was floated ; but it will be seen that the reverse is the case when it is considered that the Harbor loan is at six per cent, and the Municipal loan at seven per cent. The latter was floated at about LlO4, and the former at L 96 14s, We have made a rough calculation, and find the amount realised by the Council would have to be Lll2 before it would be equal to that realised by the Board, the 1 per cent, making all this difference ; that, in fact, the Council has paid nearly 7 per cent, more than the Board for its loan. This is, of course, ■ only an approximate estimate, as there are particulars concerning the loan which have not reached-us, and which may affect its position.'

The Dunedin Star pays us the compliment to draw attention to our enterprise in giving a full telegraphic report of the trial of Bntler on Thursday last; but it also says that we did not acknowledge the source whence we derived it. This is a grave charge, and we are glad that we are in a position to clear our character in a manner that will be acceptable to the Star and creditable to us. The fact is that, in the hurry-scurry of wiring, our correspondent had forgotten to pay the'usual-compliment to the journal- to whom we were indebted for the report. For this our transgression we offer ourhumbleapology to our contemporary. But, fortunately, fully recognising our duty in the matter, we, in the issue following that in which oar omission occurred, and pn the same evening that the Star published the gentle reminder, made the amende honorable. It is pleasant to be able to prove so conclusively that our admission was voluntarily made, and not the result of the Star's remarks, which could not have been read in Oamaru until hours after we had made it.

Information has been received that a stack of oats, consisting of the total produce of seven acres of land, was destroyed by fire early yesterday morning on the north-road. The particulars are as follows :—About six o'clock a son of Mr. Hogan, the owner of the stack, looked out of the window, and saw the stack burning. Mr. Hogan was fromhomeat the time, and his wife got up and went down to the stack, but could find no trace of any person about the premises, nor anything to thow how the fire originated. The boy, however, found an old clay pipe near the stack, which would lead to the supposition that some person had been sleeping near it, and had probably set fire to it by means of a spark from his pipe.

It was rumored in Dunedin to-day that the police have found the mis ing soles of Butler's boots. But as a report of the occurrence has neither been published in the Dunedin papers of to-day, nor been wired to us, perhaps there is no more truth in it than there is in the other multitudinous reports that have been circulated since Butler's arre3fc. If, however, tlie police have fonnd the soles of Butler's boots, we presume that his trial at the earliest possible moment for the murder of Mrs. Dewar will be probable.

Our contemporary in this morning's issue gives a list of the principal articles imported and exported from New Zealand during 1879. It states the value of the receipts to be L 5,473,126, and the imports L 8,374,585, but it has omitted to include some very important items that will very considerably swell the total of our imports, viz., tobacco, wines, spirits, and beer. We are not yet in a position to give the value of these items for 1579, not having been favored with a summary of them from the Hon. the Commissioner of Customs ; but in 1878 they represented a sum of L 609,547, and we suppose that there will not be much difference between this amount and that for the year just ended. It-. will be. seen that the value of our exports is double that of our imports, a fact not very pleasant to contemplate, and one that points to the necessity for some radical change.

According to Mr. Crombie's work on the Property Assessment Act, in 1844 the Legislative Council, then the only Chamber, passed a Property Rate Ordinance, which repealed all customs duties, and provided for raising the revenue by taxation. The idea was to promote the free intercourse of shipping. The tax was on real and personal property and income, the former to be assessed at its marketable value, the latter to be on the probable net income for the year following the date of the return. When the value of property and the amount of estimated net ingome reached LIQO, the tax was LI a year, and LI for each additional LIOO up to LIOOO. Any person, however, who had more property than this, or who did not wish to make a return, could compound by paying Ll2 a year, which seems to have been the maximum contribution. There was no secreGy; re.turns were published in the Gazette, and posted in conspicuous places. As may be imagined, the trial was neither long nor satisfactory, and the Act was repealed in 1845. The financial necessities of New Zealand in those days were not large, the appropriations made for 1845 being L 25,672, while the then public works policy was thus provided for, " Public Works Establishment, tools and contingencies, L 1420."

The cricket match between the first elevens of the Oamaru. and Eycejsior. Clubs was resumed on Saturday afternoon,.; .and, very unexpectedly, terminated in a very close game. It will be remembered that the senior club had made 82 in each of its innings, and that the Excelsior team were all dismissed in their first innings for 28, and had lost three wickets in their second innings for 27 runs. With 109 runs to the

bad the Excelsior eleven're-commenced play on Saturday afternoon,. and right merrily they set to work to wipe off the large total against them. In their efforts to do so they were greatly assisted by the enforced absence of G. Millington, while Grigg,' on whom, the senior club had chiefly to depend as a bowler, wa3 far from being in proper form. The result was that, assisted by bad fielding, runs came very freely, and it was not until the Excelsior eleven were within seven of the score of their opponents that the last wicket was disposed of, and the victory secured for the senior club. The second innings of the junior club thus closed for the highly respectable total of 129, of which Marshall, by vigorous play, made 42, Hewat 27, Denton 12, and Finch 12. The clubs have now played three matches during the season, the Oaraara Club having obtained two victories. The Ringarooma, with the inward Suez mail, arrived at the Bluff at ten minutes past seven o.'clock this morning. Mails for the United Kingdon, via San Francisco, per Zealandia, will close at Auckland at 11 a.m. on Tuesday, 27th, and for Sydney, per Te Anau, at Auckland at 1 p.m. on the same day. It is rumored that one of the Government measures in the coming session may probably be an alteration in the present system of valuation, both for the purposes of the Property Assessment Act and for the various Municipal bodies. Hitherto these latter have valuers of their own at considerable salaries, and when the Government required .valuation for land tax or property tax, they had to make special appointments, all of which did not prove wholly satisfactory. We'hear that the new plan is likely to be for the Government to employ valuers throughout the Colony, and for the valuers to furnish the various Municipalities with their valuations for rating purposes at a small fixed charge. It is calculated that a mate rial saving in expense would thus be effected, while the valuations, would probably be more satisfactory, especially in regard to uniformity. We give this rumor simply as it has reached us, and without being in possession of any absolute official information on the subject.—Post. The Wellington Po=t says:—"The Hon. the Colonial Treasurer leaves Taranaki in the s.s. Hinemoa this evening for a short holiday. A very heavy share of Ministerial labor and responsibility has fallen on the lion, gentleman, and the short respite is no doubt greatly needed, as well as deserved, We understand that Major Atkinson is only expected to be away about ten days," It ig satisfactory to find that the present Ministry are able conscientiously to make use of. that which was once their bete noir.- But then the Grey Ministry used to travel in her, and that probably makes all the difference. The present Government have taught us in more instances than one that what is sauce for the goose is not sauce for the gander. How fortunate it is that the Hinemoa happened to be in port just when the Col. Treasurer desired a ten day's holiday away from the turmoils of Colonial financing. Whatever would he have done had she not been in port?