AUCKLAND AGRICULTURAL "AND PASTORAL ASSOCIATION.

Te Aroha News, Volume V, Issue 238, 21 January 1888, Page 8

AUCKLAND AGRICULTURAL "AND PASTORAL ASSOCIATION.

The Agricultural and Pastoral Association, which, until very recently, was recognised as a very prosperous institution, now ap- , pears to be in a bad way, and a special effort is required fco bring about a much desired revival. The Association borrowed £3,000 from the University College Council in June, 1884, for live years at 7i per gent. For the last year and a-haif the interest has not been paid, and there is a year and a-half to run, with little prospect: of things improving, ThelastShpwheldon theEllersfie Grounds did not pro vesuch a financial success as had bean anticipated, and in November just passed it was considered inadvisable to hold the annual fgte as usual on account of the dulness of the times. It was decided, on the contrary, to, postpone the Show till j May, in the hope that some 1 better prospect of success may then be in view. | At the ordinary meeting of the University College Council, held yesterday afternoon^ a deputation of members of the Agricultural I Show was received in the persons of Messrs Atkin and Garrett. Mr Atkin stated the object of their presence, which was to ask the Council to consent to a reduction of interest pn a mortgage of £3,000. He said that Mr GarrelMf and himself represented a very small riumber of tho members of the Association who were i anxious to re-instate the annual Show, which was pretty nearly in a state of collapse. ,They had received certain promises of help conditionally that the rate of interest was lowered. ' Messrs Buokland, Garrett, and himself were requested to interview the Council with tyie view of soliciting a reduction of intetest. If this was not granted it was hard -to say what would take pace. They should have to report proceedings to the Committee and see what they would do.- Some four years ago some' of those who were now working hard on the Committee saw that there was a future likely .to lead them into difficulties. ' There had been two wet holidays for the Show, and they had received, comparatively, no patronage whatever* This landed the Committee in difficulties, and a resolution was passed that they should hot move forward- until they had £300 in hand. They had now £265, which could be brought up to the required sum by several individuals, but they did nob feel inclined to put their hands into their pockets unless the rate of interest was lowered to the' rate now current. Mr Garrett and himself actually did not know what the amount of interest was. They had one statement ] that it was B£, and another that it was 1\ per cent. (Sir Maurice O'Rorke : "7£ per cent, is correct.") Our object, then, is to ask that the interest be made 6£ per cont., and to state that they with others would endeavour to beg the money and cover labilities as far as possible. ' Mr Garrett added that there was a strong feeling in the Committee ot th« Agricultural and Pastoral Association that its present expenditure was too great, and they had resolved that unless it was reduced they could not go on. The Committee thought that if the interest payable to th.3 Council were reduced to 6 per cent, they would be able to pay the money due. There was a feeling that the Society had been mixed up with things with which it should not have been concerned, but this was all changed and a new commifcteehad been appointed. The money referred to, as promised, ' was obtainable on condition that they should^ get out of debt. Sir Maurice O'Rorke (Chairman) : Do you consider 6£' per cent, is the current rate of interest in Auckland at present ? IMr Abkin : I know a good deal of money has been placed out at 6£ per cent, in connection, with the Hospital Board and City Council. The Chairman : The deputation is, no doubt, aware that the two Gillies scholarships are dependent upon the interest for money lent on the Society's land. We lent the money, £3,000, at p, sum barely sufficient to pay these scholarships, and we j are receiving interest equal to £210, whilst, ; we pay away £200. Mr Garrett : TJiere is just' this question. ! If you cannot reduce the interest you.may : have to foreclose the mortgage i The Chairman: You have postponed your Show till March? Mr Atkin : Yes. Ifc was thought that March would be a more favourable time. Mr Garrett and myself are not trustees ; in fact, the whole thing has been badly managed, none of the members of the Association, except those originally elected, having any legal standing. Colonel Haultain said he believed a great deal of money had been lent recently at 6£ per cent , but they could not consider an investment that had not paid interest for sixteen months good security. He would like to have Mr Justice Gillies's opinion on j the matter. After some further discussion it was re j solved, on the motion of Rev. D. Bruce, i " That Colonel Haultain, Mr' A. B. Devon? | and the mover be a Committee to cotnmuni- j cate with Mr Gillies and consider what iB ! best to he done in this matter y~ also, that a special meeting of the Counoil be held at an j early date, to receive their report." . Auckland Star, January 18.

licmn 'Salisbury, in the course of a speech j ! said fchere were undoubted signsjtbat the do« pre^ion in trade isgradu'ally disappearing? I This, he thought, would tend to remove the [-Irish ' difficulty.. -Next session, however, 1 ' I would be a diftieuitand hazardous One. Th© ; iGoyerninent would have to depend- on^the. i assistance of the. Unionists in ; framing, their me<\3ureB, ( , ;'♦',,.-