ANGLO- COLONIAL NOTES. [VIA BRINDISI.] [BY THE AUCKLAND "star's" LONDON CORRESPONDENT.] London, April 4.

Te Aroha News, Volume I, Issue 52, 31 May 1884, Page 5

ANGLO- COLONIAL NOTES. [VIA BRI NDISI.] [BY THE AUCKLAND "star's" LONDON CORRESPONDENT. ] London, April 4.

Thb few days that have elapsed since the departure of the 'Frisco mail, though pregnant with important news of a general kind, have not brought us anything particularly novel in an Anglo-Colonial way. Easter is new rapidly approaching, and all who can afford it are preparing to avail themselves of the genial spring weather and snatch a brief holiday in the country. Sir John Hall has either gone or is just going back to Dresden. Sir Charles Cliffor I leaves town next Thursday, and even your indefatigable Agent-General will probably run down to the seaside for a few days.

Shipping News. The extraordinary rapidity with which Thaw-Saville despatched the s.s. Victory -ast week has made people open their eyes. For a vessel of her tonnage to discharge her cargo, be re-loaded, re-stored, fitted up for emigrants, and coaled, and for her again to sail all within four days, seems incredible, but it was done. The metive for this extraordinary speed was to enable the Victory to sail at the same time as the Aorangi. Shaw-Saville are also trying to undercut the New Zealand Shipping Company in other ways. I see the steerage rates per Bombay are £2 less than the New Zealand Shipping Company's fares, and the saloon per s.s. Coptic £5 less. Surely it is early days to begin undercutting. The prospects of the passenger trade appear to have brightened somewhat during this last month. The brokers still complain of bad times, and wonder what the breakneck competition betwixt the various colonial shipping companies will end in, but there are certainly more folks travelling than there were, and the majority of firstclass vessels seem to go out pretty full, both as regards passengei's and cargo. The establishment of depots for the sale of N.Z. frozen mutton in the English provinces continues. Derby and Chesterfield are two of the latest converts. The New Zealand Shipping Company's Otaki, which sailed for Auckland the other day, has on board the following saloon Passengers : — Mrs Parker and son, Mr James age. The following saloon passengers are already booked by the steamer Doric, advertised to sail for New Zealand ports (Auckland, Wellington, and Canterbury) on April 24:— Mrs and Miss Campbell, Mis 3 Ashton, Mr and Mrs Jardine, Mr Jardine, jun., Mr Becher, Mr Higinbotham, Mr Ingram, Mr and Mrs Ashton St. Hill, Mr and Mrs Cobbett, Mr R. J. Ogle,' Mr F. G. Hartley, Mr A. L. Withers. The second cabin of the Doric is already quite full of passengers. The Orient liner Potosi, sailing from Plymouth to-day, has on board the following through saloon passengers for N<3W Zealand :— Mr and Mrs E. W. Bartleet, Mr R. McCormack, Mr J. W. Richardson, Mr W. Richardson, and Mr Trinder.

Various Notes. The statement that Mr Sims Reeves intends to make a tour through Australia and New Zealand very shortly turns out to be strictly correct. The great tenor will travel via America, singing at all the principal cities en route. The exact date he may be expected to arrive at Auckland has not yet been determined, but so soon as he returns to London I shall secure an interview and obtain full particulars. I hear that Lord and Lady Rosebery speak in enthusiastic terms of the kindness and hospitality with which they were received at the antipodes, and that they are strongly recommending all their friends to try the effect of a winter in Australia instead of at the south of France. We don't know what to think or believe about Tawhiao's visit. On Monday a cablegram was published saying the whole affair was postponed, and last night came another stating he had started.

New Zealand Agricultural Company. At the fifth ordinary general meeting of the New Zealand Agricultural Company last week, the report, accounts, and balancesheet (already sent you) were approved and adopted, and a letter read from Mr Robertson, a large shareholder now in the colony, urging the directors to allow their managers to put in crop 10.000 acres. Mr Robertson speaks very highly of the Company's land, and also of their managers, Mr Austin and Mr Donald, whom he considers "thoroughly honest, able men, trying to sell land and keep down expenses." Mrllodger said " he was very greatly interested in New Zealand, and he had recently sent an agent out to report to him, and he had also instructed him to look at the Company's property. His report upon the Company's property was that it could not be excelled in New Zealand, and that for growing oats and wheat there was no land in the place so good. He had suggested that the best plan would be to put the land down in sections, and give a manager for each section power to work the land to the best advantage, and make his remuneration largely dependent upon the profits derived from his exertions. By doing that they were likely to secure much better results than by handing over 10,000 acres of land to one man to control. They possessed a property which, if properly managed, would ultimately become one of the greatest value. He wished to know if Sir Julius Vogel had gone to New Zealand on the business of the Company, and if so, what remuneration he was to be paid, and whether he was to be paid a fixed sum, or by results." This query does not seem to have been answered. Mr Thurlow Dowling and Mr Valentine were re-elected directors, and a vote of thanks to the Chairman closed the proceedings.

Miss Gordon-dimming. Miss Gordon - dimming contributes an entertaining article on your colony to the current number of the " Century" magazine entitled " New Zealand in Sunny December." It is odd, by the way, to hear that this much -travelled lady " was not much struck by the beauty of Auckland." " And yet," says the " Pall Mali Gazette " in a review of Miss Cumming's article, "in the eyes of some lovers of the picturesque, the sail from the Barriers to the harbour proper is equal to anything for loveliness in the South Pacific."

Mr Thomas Russell on the Frozen Meat Trade. The meeting of the N.Z. Land and Mortgage Company on Friday last was a most satisfactory one in all respects, and greatly pleased Mr Thos. Russell, who was in the chair. The speeches on the frozen meat trade are specially cogent, and it is sincerely to bo hoped none of your readers interested therein will miss reading them. I think the company has a prosperous future before it. After reading the report (already sent out to you) the Chairman said he had to express the great pleasure they had in meeting the shareholders for the first time, and in congratulating them upon the formation of the company and its successful start. If he were allowed to predict, he thought he might safely say they would have freqnent meetings with them of a satisfactory character, and that the company would he profitable. The meeting was called in«accordance with/tlie requirements of the Companies Act,

and the artiolos of association, which provided that within four months of the formation of tho company tho directors and the shareholders should meet. Tho precise object of tho law ho did not know, but it was the law, and they had to comply with it. Thoy had no accounts to lay before them, as a matter of course, what thoy had to say to thorn was so woll said in the printed report of which thoy wero in possession that ho need not detain them with more observations. He moved the adoption of tho roport. —A Shareholder asked how it was that the names of tho directors appeared in|tho roport wlion they had not boon elected.— Mr Drysdalo askod when tho remaining 10s. per share would bo called up.— Mr Simons said he saw it was stated at a mooting of tho Hank of Australasia that the frozen meat trade had not been a sue cess, from which ho supposed that the cost of importation was too great, or tho prico hero was not sufficient. Ho asked for somo information on this point.— Tho Chairman said with regard to tho directors thoy wore iirst appointed by the articles of association, thoy rotirodsomany each yoar, and tho sharoholdors thon ro-electcd thorn or oloctod othors in their places. As to tho call of 10s. pov shavo, thoy should dofor it aa long as thoy could, as if thoy burdened themselves with a largo amount of capital in a now concern they would have to pay dividends on a largo capital with small earning power. As to the frozen meat trade, thoy wero not consignees of moat, nor should thoy be proprietors of sheep. They would confine their operations entirely to borrowing money and lending it on lirst mortgage security, so that the frozen meat question did not concern them directly. But indirectly it did to this oxtcnt. that if that trade became a great success it would bo a great factor in New Zealand. He believed that tho trado was a comparativo success, and he thought that tho gentleman who made the statement that it was not made it in ignorance of the facts of tho case. He could say from his own knowledge that, before the frozen meat trado was commenced shoop j wero valuable in New Zealand only for the wool, and tho fat for boiling down ; and that the effect of this trade had been to increase tho value of sheep in tho colony very much indeed, and every sheep that was sent out of tho colony increased tho value of tho sheep loft in, for the colonists not only got a better prico for theshoep that wore cxportod. but for those that remained. No doubt there had been failures, but the shipments that were now coming in from New Zealand in good condition wero Saying and more than ; and, if tho prico id not come down, tho trado would be a great benefit to tho colony as affording an outlet tor their surplus stock ; and he % enturedto hope that not only the mutton but tho prime beef of New Zealand would soon be highly appreciated here. Ho knew that at the "Wcst-pnd butchers were now recommending to their customers Now Zealand mutton ns a desirable thing, when three months ago thoy would not have had such a thing in their shop.— Mr Larkworthy seconded the motion for the adoption of tho report, and in doing so said if tho frozen meat trade had not been a commercial success that might be accounted for by the fact that the circumstances during tho last tew months in which New Zealand meat had been sold in this country had been adverse, not to the sellers of Now Zealand alone, but to the sellers of all kinds of meat. Wo had a very extraordinary season, and a very open season. An immense quantity of sheep had been pastured in the Holds under circumstances not usual. They had lived on the grass, and the result had been that a very large quantity had been brought to the market, and thorc hnd been a large supply of fish and vegetables. All these things had depreciate the price of meat generally. The consequence was that shippers of meat from Now Zealand had to a certain extent been disappointed. They were at one time getting 7d and 7M por lb. in this market, and during the last few months they had not been realising more than 5d to 5Jd. A reduction had taken place in other meat, and this had created a certain amount of disappointment and led to a certain amount of loss to those who bought meat m New Zealand in expectation of its going to a higher price. But that condition of things was not going to continue. They had at the present moment better prices for New Zealand mutton, prices which he was certain would answer the purpose of exporters. The difficulties with which the trade had had to contend with here were nothing like the difficulties with which other trades had had to contend. They had had one or two little troubles from depression in prices, but these hud been got over, and he had no doubt that this would be got over, and that the trade would be continued on a firm basis. With regard to the total airount of tho export of sheep, he thought that for a time it would be very small indeed, foa this reason— that it was only one particular kind of shcop that was fit for this market, and New Zealand was tho only colony which reared that kind of sheep, a cross between the Hampshire downs and the merino or the cross-bred Lincoln. That was the kind of sheep New Zealand was capable of exporting in very large quantities, but not at this moment. He did not think that at the present time they were capable of exporting more than 400,000 or 500,000 sheep a year ; but in a short time they would be able to export a million a year.— Mr Druco said ho inquired yesterday the price of New Zealand mutton, and was told that they did not soil it under sixpence. He suggested that tho trade would be much extended by opening ono or two little depots in the neighbourhood of every railway station. Tho motion was thon put and carried, and tho proceedings closed with a vote of thanks to tho chairman and directors.

Australian and New Zealand Mortgage Company. The fifth ordinary general meeting of the Australian and New Zealand Mortgage Coin pany was held on the 28th of March, Mr. J. Sheriff Hill in the chair. The Chairman, in moving the adoption of the report, which recommended the paymentfof a dividend of 5 percent.|making, with the interim dividend paid in July last, lOperccnt 1 for the year, congratulated the shareholders on the favourable nature of the balance-sheet, which he thought fulfilled the expectations that were held out when it was detrrmined to increase the debenture issue. There had been a great demand for money in Australia, which they had been able to take advantage of, the rates paid there being higher— which was contrary to precedent— than in New Zealand. Their loans had remained stationary in New Zealand at about £300,000, while in Australia they had increased from £04,' 00 to £585,0u0, the demand for money in the latter place arising largely from the development that was going on in Queensland, in consequence of which an independent agency had been opened at Brisbaino. They had therefore now three independent agencies in operation in the colonies. Whilst there was a good demand for money in the colonies the rates for money in England had ruled moderate, and the consequence was that money had flowed into them from debentures quite as rapidly as they were in a position to absorb it. In April last they decided to reduce the maximum rate of interest on debentures from 5 to 4J per cent., at which rates they had been able to obtain the money required, and he did not think they were likely to alter that 4 j per cent, again unless they were fortunate enough to be able to reduce it. The amount of money on debenture last year was £376,000, and it now stood at £693,000, In the middle of the year the board thought it was desirable that the whole of their resources should not be in a terminable shape, and being told that there were a certain class of investors who preferred a permanent stock, it was decided to issuo debenture stock at i\ at £98 percent. The board has been a little disappointed at the response to the invitations to subscribe to that stock, but this was a matter in which the shareholders could assist by recommending it to their friends. Most of the loans in Australia had been made fora period of throe years, so that for that period they had insured the continuance of a fair rate of profit. They had now £887,000 employed in New Zealand and Australia, while at the corresSonding date, in 1882, £100,000 was lying in Lonon, all their funds being now invested in the colonies. The profit and loss acount showed a balance of £19,511, but the profits really amounted to £21,541, as £2,000 had been set aside as a matter of prudence for any losses that might occur. The interest from loans in the colonies amounted to £56,000 after provision had been made for all possible losses. Exchange had cost them £2,500 they had written off nearly £2,000 half tho amount outstanding in issuing debentures, and they had also written off £2,100 for expenses in connection with the issuo of debenture stock. Finally, there remained an available balance of nearly £13,000, out of which it was proposed to pay a dividend of 5 per cent., making, with the interim dividend already paid, 10 per cent, for the year ; to transf et £5,428 to the reserve fund increasing it to £15,000, and to carry forward £592. By their rules they could not declare a larger dividend than 10 per cent, until their reserve fund equalled half the paid-up capital.

The Chinese colony in New York is now said to number 5,000. They are mostly employed in making cigars or in laundry work. Perhaps no man was ever more disturbed by a trifle than the reporter who, concerning the appearance of the belle of a town at a picnic, intended to say, " she looked cm fait," and found the types had it, "she looked all feet." That was a very natural but a very lu dicrous remark of a venerable lady, now in her one hundreth year, on the death of her daughter, who had attained the good old age of eighty. The mother's grief was great ; and to a friend who came to condple with her she could only say, " Oh, dear ! oH, dear ! I knew I never should be able to i bring up.tfaat child I"