THE ENGLISH MAIL VIA SAN FRANCISCO.

Te Aroha News, Volume VII, Issue 483, 25 June 1890, Page 5

THE ENGLISH MAIL VIA SAN FRANCISCO.

ANGLO-COLONIAL NOTES(FROM OUR SPECIAL CORRESPONDENT.) London, May 1. THE BANK OF NEW ZEALAND Major George is busy arranging preliminaries in connection with the transfer of the head office of the Bank of New Zealand to London, and finds his time very much occupied. He tells me that Mr David Hean is expected back now in about six weeks, and that' his report will almost at once be published. Whether the Major knows the drift of that document, I could not, of course, ask, but I gathered generally that he expects its effect to be beneficial. The Major says public confidence in the Bank’s stability (especially as regards financial circles) is far less shaken than he expected to find it. There are plenty of men in the city (he has been told again and again) ready to invest largely in the Bank’s shares the moment they are assured its condition has been fully probed. On the subject of Mr Buckley and his doings, Major George speaks with bitter scorn. He had not been in England a week before evidence of the ex-President's untiring hostility was forthcoming in the shape of a letter to “ Truth.” Of this more anon. Suffice it to say here a London director efficiently squelches Mr Buckley in the current issue of Labby’s periodical. Personally, you are of course aware, Major George has never approved of the removal of the head office to London ; in fact, he says he and other directors merely gave way in the matter out of deference to the wishes of the shareholders. The more the Major sees of the methods of London banking the more convinced he grows that a mistake is being made. The ways of doing business in London and in New Zealand are, he notices, in some essential respects difierent from colonial bankers . Major George expects to be in England about three or four months altogether. Mrs George has visited the Savoy and other theatres with friends, but the Major exhibits little enthusiasm in the direction of after-dinner junketings. A quiet day on the river near Somning, Pangbourne or Iffiey is his notion of enjoyment. Mr Buckley’s letter in “ Truth,” of May Bth, to which I have referred, is answered in the current issue. The reply explains the charges sufficiently, so that I need not bore you with the veracious exPresident’s lucubration. “Truth” says: —“ A director of the Bank of New Zealand writes as follows:—‘Truth,’May Bth, 1890, contains a paragraph referring to the Bank of New Zealand, and an extract of a letter from Mr Buckley, the late President of the Bank, in which he represents the value of the properties held by the Bank in security for advances as small, and the prospects of the colony as only temporarily revived. lie makes one categorical statement in proof of his opinion, viz., that ‘ the Bank has about £3,000,000 locked up in some way or another on which they have to pay £5 "per cent, to depositors in England, or £150,000 a year, out of which they geo, say, some £50,000 a year.’ This statement is incorrect. The capital sum mentioned is that which refers to certain securities described in the recent amending Bank of New Zealand Act of the General Assembly as invested in 'globo assets.’ It yielded in the last six months, as we are informed by telegraph, £62,000. The average rate of interest paid on deposits does not exceed per cent., and in the colony about 4. So much for this fact.

“ With regard to his other allegations mentioned in the article in question, the directors of the Bank of New Zealand in London are not at present in a position to deal with them. They have only had to do as an advising Board with the affairs of the Bank in this country, upon which there has never been any loss, and have not been even cognisant of the details of the accounts at the head office of the Bank. For the present they must be content to leave attacks, however malignant, unanswered. As yet they have not assumed the responsibility for the chief management of the Bank, as provided by the amending Act, bub have sent out a most competent commissioner to investigate thoroughly the state of its aflairs. His inquiry must be by this time completed, and his interim reports by letter and telegraph have been encouraging. The directors will not assume the chief direction without being assured that the state of the Bank’s affairs will warrant them in doing so, or without the fullest statement of the position to the shareholders and the public.' In the meantime, damaging statements from one in Mr Buckley’s position may well be regarded with suspicion, and the inaccuracy of the one referred to is surprising when made by a lately-retired President,” NEW 7- PLYMOUTH HARBOUR BOARD. Holders of New Zealand securities have, of course, been tremendously shocked and alarmed at the New Plymouth Harbour Board’s default. The “Financial Times,” which has always decried this class of stock openly, 1 exults over the collapse, and predicts it “ marks the commencement of a general liquidation in which one or two of the leading enterprises are certain to be involved.” “ Fair play ” likewise fears “ there are many more lame ducks in the colony which must be disposed of before the state of affairs there can be considered sound,” and the lesser financial organs adopt a similar lone. NEW ZEALAND ANTIMONY COMPANY. Mr Naidley's circular, addressed to the shareholders of the New Zealand Antimony Company, has resulted in a general meeting being called for the 22nd insb. Mr N. writes that he is receiving satisfactory promises of support every day and his committee fully expect to carry the day. LAND-GRABBING IN NEW' ZEALAND. The “Star” is continuing its attempts to rouse public opinion on the subject of landgrabbing in New Zealand, pointing out teat many of the unimproved estates , owned by absentee landlords are eminently suited for special settlement. DR. KING. fir. King (son of Mr King, of Auckland), who has been prosecuting professional studies in England for some years, sailed for Sydney on Wednesday in medical charge of the s.s. Australasian. He is accompanied by Mrs King. They will cross from Sydney to Auckland by one of the first available steamers. Dr. Kingr (I mentioned to you some time back) intends practising in one of your principal cities, probably Auckland. He leaves many friends behind in England. LIEUTENANT STAIRS. The many friends and acquaintances of Lieutenant Stairs in New Zealand will be glad to learn that Stanley’s gallant companion has been appointed Adjutanb to the troops of companies of Royal Engineers,

stationed at Aldershot. This is a comfortable and fairly well paid berth, which will enable the worn man to take life easily for a bit. AN AUCKLANDER AND THE DUKE OF SUTHERLAND. Mr Tadhunter, of Tauranga (and more latterly the head steward of Dr. Ginders’ sanatorium at Rotorua), arrived Home by the Liguria, to look after his share of the family property, which consists of houses at Greenwich, and appears to be considerable. En route, Mr Tadhunter made many acquaintances, meeting amongst other interesting people the Duke of Sutherland and his American wife (Mrs Blair). He enjoyed several chats with His Grace, and describes him as a simple, unaffected old gentleman, hail-fellow-well-met witn everybody. Mr Tadhunter is at present residing with his brother (the superintendent of the Stewards’ Department in the P. and O. Company), at VVestcombe Park. He hopes to return to New Zealand veryshortly. THE AUSTRALIAN CRICKETERS. The Australian cricketers seem to have been the reverse of popular on the Liguria. They gave unceasing trouble, complained of everything, and were satisfied with nothing. MR VINCENT PYKE’S NOVELS. The success of the English edition “ Wild Will Enderby ” has sufficed to tem.pt Messrs Hutchinson into printing another o 1 Mr Vincent Pyke M.H.R.’s stories. Act cordingly on Wednesday week there appeared a tempting-looking “ shocker” with the title of “ George Washington Pratt: A Tale of Life and Adventure on the New Zealand Goldfields ” The scene appears (from the headings of the chapters) to be laid entirely in Otago. I have not read it yet. TUATARA LIZARDS IN LONDON. The reptile house at the Zoo advertises a new and remarkable attraction in the shape of a tuatara lizard, which w T as brought from New Zealand by the captain of one of the mail boats. This little beasty has aroused considerable interest in scientific circles, as is evidenced by the streams of snuffy dried-up old gentlemen who, apparently, make soecial visits to the Zoo to inspect it. I notice, too, that four variegated sheldrakes have been presented to the gardens by Captain C. A. Findley, R.N.R. RACING TOPICS. Anakin, a two-year-old son of the Auckland Stud Company’s deceased sire Sword Dance and a mare called Annette, won the Weston Stakes of 300sovs for two-year-olds at Bath on Wednesday for Sir W. Throckmorton. This would seem to show that properly nicked Sword Dance was not incapable of getting an occasional winner. Major George says the horse proved a lamentable failure in New Zealand. COLLIERY ENTERPRISE IN NEW ZEALAND. I learn from Capt. W. Ashby that the heads of a wealthy firm of colliery proprietors at Sunderland, accompanied by qualified experts, leave England forthwith for Greymouth, New Zealand, where they propose opening up and developing the West Coast coal fields. WEST AUSTRALIAN CONSTITUTION. The action of the Select Committee on the West Australian Constitution Bill in expunging the all-important clauses reserving lands, and imposing a veto on the anti-emigration laws, has raised a perfect storm of indignant protest. The measure is now precisely the same as the one which was so hotly opposed last session, and whether it will be allowed to pass in its present form is, I should think, extremely doubtful. The “Pall Mall ” literally foams over the Committee’s decision, and the “Daily News” likewise' protests, though rather more mildly. I confess I agree with Mr D., a correspondent of the latter journal, who asks what on earth is the use of appointing a Select Committee at all if their conclusions are to be roughly traversed before there has been any opportunity of ascertaining the why and wherefore of their action. The Committee, though sufficiently diversely constituted, un animously came the conclusion that the Government had made a mistake in reserving powers to the Colonial Office to deal with the northern lands of the territory. They may be wrong, but it is no more than decent to wait until we have the material for judging before us. If even Sir George Campbell himself did not care to divide the Committee on clause 4, but agreed with his colleagues on its inutility, I think we may assume that when the Blue Book appears the Committee will have something to say for themselves. At any rate, I agree with D., we may just as well read the evidence before flying into a passion at the unanimous verdict of as competent a jury as the House of Commons can furnish.

THE DECEASED WIFE’S SISTER. Sir James Fergusson’s statement that the Deceased Wife’s Sister Bill was rushed through at least one Colonial Legislature (S.A.) by a clique against the people’s wishes, has roused a storm of contradiction and disapprobation. Nevertheless, Sir James, who is a thorough-going Churchman, persists in his allegation. THE GAIETY - COMPANY. The theatrical papers this week announce that the Gaiety Company will open in your part of the world under Williamson and Garner’s management either at Auckland, New Zealand, or Sydney, on July 4th, 1891. The Australian season is to last altogether three or four months, the Company returning Home in time to produce the Christmas burlesaue for the Gaiety, 1891-2.

THE AUSTRALIAN MAGNETISER. Mr Kennedy, who describes himself as the Australian maemetiser, has been drawing large crowds to the Aquarium. His mesmeric practical jokes are, nevertheless, many of them very odious.

POSTSCRIPT.

London, May 17.

The publication of Mr Hean’s cabled report (no doubt already printed in the colony) anent the Bank of New Zealand, resulted in another drop in the shares. It seems, however, to be thought they will recover in a few days. Captain Ashby, whose son is on the overdue ship Marlborough, upon which insurance agents are asking 90 guineas p.c. premium, does not appear specially anxious about the safety of the vessel. He assumes she was badly knocked about off the Horn, and is making her way home very slowly.

Mr Snell, of Auckland, has imported a lot of New Zealand tomatoes and new potatoes, which he is arranging to sell at Covent Garden. Unfortunately, the vessel they came by was in ten days (and the cases kicking about at the Docks) before he found them.

A company is being floated in London with a capital of £40,000 in £5 shares for supplying Dunedin suburbs with gas, and adopting the business of the City of Dunedin Suburban Gas Company. Directors, Colonel Walter Hankey, Mr Hugh Grunston, Mr Charles Day, and Fred Dutton. I hear Sir Francis Bell was much surprised at the Colonial Government’s action re the Imperial postage reductions. He appears to have expected that some of the Australiae might object, but certainly not New Zealand. •