NEWS OF THE DAY.

South Canterbury Times, Issue 2463, 9 February 1881, Page 2

NEWS OF THE DAY.

Some of the Oamaru larrikins threw a number of bad eggs at the volunteers whilst on parade last week. Three members had new uniforms spoilt, and Major Sumpter at once offered £2 reward for the detection of the culprits.

A correspondent pants for a resurrection —The resurrection of a well that was buried by the Borough Council three years ago. He says that the well stands at the intersection of Sophia and Elizabeth streets on a small triangular plot belonging to the ratepayers. It is forty feet deep, contains a permanent supply of water and used to be enclosed with a fence, hut was bricked over for safety. All that is needed is a pump which need not be very expensive, and, our correspondent suggests, a most valuable boon would be conferred on the surrounding residents.

Mr W. H. Lingard made an arrangement with his opposing creditor (Mr Williamson) before leaving Auckland. It will be recollected that Mr Williamson, by his agents proved against Lingard’s estate for £SBO. The basis of the settlement was, we understand, that Mr Lingard should pay £250, to Williamson or his agents. This would represent very nearly 8s Gd in the pound on the principal claim against the estate. It is not stated that the other creditors (Messrs Searell and Craig) made any objections to this settlement. The money we are informed, has been paid.

How they do it in America is illustrated by the following telegram from Chicago forwarded to the Times” : —“ln July, 1879, after one member of the firm of Armour and Co had returned from Europe where he had been taking observation of the pork market, the firm began buying pork ; and in December, when it had risen to 11 dols.. closed out, making a profit of 2,000,000 dols. Not satisfied that it had

reached the highest point, they continued buying until pork had dropped from 11 dols to 9 dols., 25 cents., absorbing their profit and an additional million. In April of this year they again began buying at from 10 dols. to 10 dols, 50 cents, a barrel, and bought up 300,000 barrels of spot pork between these figures and 1,250,000 barrels of options. For the last three months they have been closing out their gigantic purchases at prices ranging from 1G dols. to IS dols 50 cents., clearing over seven millions on this deal, and being winners on the two deals to the extent of six millions.”

At the R.M. Court this morning, the defendant’s evidence in the case Press Association v. Robert Wood, claim £8 5s for one quarter’s telegrams supplied to the “ Evening Telegraph,” was taken for transmission to Wellington. The plaintiffs sue for telegrams supplied from Dec. 1 to Feb 28, 1881. Messrs E. Jones and B. J. Lane, formerly in the defendant’s employment, stated for the defence that 25s had been paid into Court, being what was considered an equivalent for value received, defendant being charged up to the end of the present month for telegrams which he only actually received up to Dec. 15. It was further contended that the defendant was not aware that any agreement, either written or verbal, had been made with the Association respecting payment in advance. Mr Austin appeared for the defendant.

The “ New Zealand Times” in referring to the success of the shipment of butter sent home by the Protos, says:—We trust to see this export trade established on a large scale. The London prices current shows that from Is to Is 4d can be obtained for the finest qualities of tinned butter in London. It is clear therefore, that, a large export trade in butter would bring great gain to the New Zealand farmer. And there is abundance of demand there. The yearly consumption of butter in London has been estimated at ten pounds per head of the population, or 40,000,000 pounds per year without including some 3000 tons necessary for victualling ships leaving the port. Here now is the prospect of a highly profitable trade, in which this colony ought to fully participate well as in the export trade of frozen meats.

While the canny inhabitants of Dunedin have been halting and hesitating between an Industrial Exhibition and a Winter Palace, our northern neighbors in Ashburton with a keen eye to the practical have “ gone and done it.” In other words the leading residents have promoted an Exhibition of ait and industries, which is to be held on Thursday March 17th and following days. The title of the Exhibition sufficiently indicates its character. The exhibits arc intended to embrace products and manufactures of every description, from samples of elegant needle-work to local made machinery, farm produce, and specimens of timber and minerals. The Kakaliu district is rich in limestone, marble, clays, and coal; Pareora stands without a rival for bright plump grain ; Timaru with its beautiful gardens is unsurpassed for its horticultural productions ; and if our factories are still in their infancy our artisans can turn out articles of merchandise that will bear inspection. If our producers and tradesmen wish to force a market they must show such enterprising neighbors as the people of Ashburton what they can do. Intending exhibitors will be able to obtain every information from Mr Stephen E. Poyntz, the Hon. Secretary, and we trust they will lose no time in placing themselves in communication with him.