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Auckland Echoes.

(FEOM OUB OWN COBEEBPONDENT.)

Friday. One topic of conversation here just now, confined chiefly to business men, is the new Fire aad Marine Insurance Company. The shares are being taken up pretty freely, and several good names appear on the list of directors ; but many knowing ones shake their heads, and wender where the business is to come from. The representatives of the older companies say that rates are down to the minimum, and the manager of one of the Insurance concerns assured me the other day that in three years in this provincial district alone his company has sustained a dead loss of £5000. Nor is the company presided over by my friend, a singular instance of the disastrous effects to insurance companies of over competition and low rates. Certainly one or two of the older corporations have sufficient wealth to pay dividends from the interest on their investments, but I predict that before long some of the more recently formed and poorer companies will be in shoal water.

The people of the Waikato are doing wisely in taking steps to establish cheese factories and other local industries in their midst, and it does not require a very prophetic vision to foresee that unless some' thing is done now to develop our dormant resources, the time will soon come when progression will give place to retrogression. Take, for instance, our timber industry. It is really wonderful the number of persons who are absolutely dependant on that branch of industry for their subsistence. Those who have made a study of forestry tell us that in 20 years at the outside, at the present rate of consumption, all our kauri lands will be denuded of the timber, and it is not pleasant to contemplate what would be the commercial condition of this provincial district at the present moment if all our bush lands were dreary wastes of rotting stumps. It behoves us to be up and doing to develop our other resources.

A scandal anent one of the leading legislators of this colony is being whispered amongst the select coteries of the clubhouses. When the M.H.R. returned to Auckland from his labours- at Wellington, he was met on the wharf by a hand maiden formerly attached to bis household, bearing in her arms a little cherub, which she asserted was a proof of the affection of the renowned Parliamentarian. The legislator, it appears, first denied the paternity, and for a few days it was whispered that an action was pending. However, more recently a large

sum of money has, it is said, found its way from the legislator's exchequer to the ditto of the hand-maids maternal parent—in other words the oil of mammon has been cast on the turgid waters of scandal, and the public of New Zealand are again grossly swindled out of a little unhealthy excitement.

Permanent link to this item
Hononga pūmau ki tēnei tūemi

https://paperspast.natlib.govt.nz/newspapers/THS18821007.2.20

Bibliographic details
Ngā taipitopito pukapuka

Thames Star, Volume XIII, Issue 4296, 7 October 1882, Page 2

Word count
Tapeke kupu
479

Auckland Echoes. Thames Star, Volume XIII, Issue 4296, 7 October 1882, Page 2

Auckland Echoes. Thames Star, Volume XIII, Issue 4296, 7 October 1882, Page 2

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