The Daily News. TUESDAY, APRIL 21, 1903. DISHONEST LITTLE NEW ZEALAND.

Taranaki Daily News, Volume XXXXV, Issue 96, 21 April 1903, Page 2

The Daily News. TUESDAY, APRIL 21, 1903. DISHONEST LITTLE NEW ZEALAND.

Under " New Issues " in the London Taller of 18 ;h February last appears the following New Zealand Threes —" Undeterred by the snub received in 1901 (when the underwriters were stuck with nearly half the issue) the dishoL63t little colony of ISew Zealand has the assurance on this occasion to ask for £1,250,000 more of the same 3 per cent. st< ck which last time it could not place sati.-factoiily at 94. Those wno are foolish enough to take this stock must not be surprised if later she New Zealand Government trtat them as they treated the unhappy de-benture-holders of the New Zealand Midland Railway," Commenting on this " Kodac " writes : little colony ! " The - rest is all but leather and prunella," But isn't " dishonest " actionable ? If written of an individual, it would be ; why not when nearly a million of individuals is meant ? Aed " little colony " ! England, Wales, and Scotland together Bompriae an area of 88,648 equate miles, while our " little" country covers 104,471 square miles. "Ex p6de Herculem!" It is grat ; fjing, however, to find that there are some people at Home who are able to appreciate the colony acd its progress, and the following is in pleasing contrast to the above. The National Mortgage and Agency Company of New Zealand held its twenty-seventh ordinary general m»e'ing in London on 11th February last, and on that occasion the directors were able to announce a gross profit for the past year of £65,946 17s 6d after making provision for bad and doubtful debts. An interim dividend of Is 3d per share had previously been declared, and a further dividend of the same amount was recommended, along with a bonus of 9d per share; and after doing all this and adding £BOOO tn reserve fund, a balance of £7098 2s 10d was cairied forward to credit tn the current year. The report was received by the shareholders with every sign of gratification, and the chairman, Viscount Hampden, in the course of his remarks, said : The progress ot New Z-al-jnd, I am happy to say, durii g the last year has been satis factory. Prices botb of meat and wool have hardened, and remunerative rates have alto been obtained for cereals, mainly on War Office account for South Africa. With regard to the progrefs of the colony of New Zealand generally, I would like to draw attention -i soma statistics, which have been published officially, and which relate to the pifo-

t;ress of the colony during the Isst tec years. They are striking, and I think you will find them interesting. The population of New Zebland in that peiiod has increased 24 per cent., the occupied holdings have increased by 68 per cent., the land in cultivation htß increase) 54 percent., or from 8,500,000 iacrej to 13.000,000 acres. There h.«s j | baen an iucreaso of 63 p.;r cent, in the I cumber of c >ttle, and au increase of 20 ] p: r cent, in the number of sheep. In 1 , , th-i mileage of railways there lus be-n an increase of 19 per cent:,, and an increase in the receipts of 68 per ceat. • The savings bank depositors have increased in number by, 93 per cent., and thi) deposits have increased by 113 pr cei.t ,orfrom .£3,300,000 to £7,200,000. The exports to England of frozan mufetosi aid lamb have rißen from one and a half million carcases in 1892 to fchrea and two-third million carcases in 1902." A proof, says the Times, that the direo ors were, through their chairman, usii g no empty phrases may ba fcuod in t'he fact ' hat the accounts showed that the coicpmy had last year m de a special payment of £SOO to its general manager in New Zealand, in return for a sacrifice he had voluntarily made "some yeais ago, when there we>e serious times in the colony." Facts of this kind are worth a great deal moru than the fulminatioos of jaundiced political critics or selfish Loadon " bears." 'I he deprecations of interested or disappointed persons are more than coun-ter-balanced by the testimony of th< He who ard shaiing in New Zealand's undoubted prosperity.