The Wairoa Bell, AND Hobson County Gazette. FRIDAY, MAY 27th.

Wairoa Bell, Volume IV, Issue 147, 27 May 1892, Page 4

The Wairoa Bell, AND Hobson County Gazette. FRIDAY, MAY 27th.

If the prospectuses of the many Australian companies that have within the last few years been scattering ruin amongst the shareholders were anything like the prospectus of the Kailiu Valley Kauri Timber Company, wh : ch it is now sought to form for the purchase of 14,4-97 acres from Mr John Owen, we can no longer wonder at the many signal failures that have taken place. To float this new company a capital of £20.000 is asked for in 200 shares of £IOO each. The veodor requires £15,000 and it is estimated that another £5,000 may be absorbed in interest and contingencies. The business the Company proposes to take up is the working of the bushesfand gum land; and when the timber has all been disposed of and the gum secured and sold the land

is to be again sold and the wcrk come to an end. Such a work in the Kaihu Valley, if properly carried out, would be of great advantage to the whole Northern Wairoa District, and tradesmen as well as others would feel the benefit. But. however much we would like to see such a work proceeding, we cannot approve of the prospectus issued for the formation of the Kaihu Valley Kauri Timber Company. First of all we object to the prospectus because we consider it scarcely honest, as many of the inducements held out to tempt investors are, to say the least, incorrect and bubble-like. It is stated that there are 800 acres of gum land which can be readily drained by the expenditure of two or three hundred pounds,whicli would allow of the recovery of the gum and render the land (with the gum taken out) readily saleable at from £5 to £lO per acre. These 800 acres are estimated to yield out 400 tons of gum which in a crude state would be worth £3O a ton, altogether £12,000. The cost of recovering the gum, after the drainage works, it is said ivould not ex —• ceed £lO per ton , thus leaving the Corn--pany a profit of £B,OOO on the gum alone. We have an idea that gumdiggers do not find a very fat living at the present time when they are receiving about three times £lO per ton for digging guin, and unless the new Company has some ‘‘ Submerged Tenth ” twin scheme, or some ingenious gum extracting patent in the background we fail to see how they are going to secure the gum at the price they name. The quantity of timber on the block is estimated at between 30 and 40million feet, but only twenty millions are taken into calculation and for this delivered in Sydney in bulk the Company expect to get LOs 6d per hundred. Haulage to railway, forest charges, freight &c by train and vessel and duty in Sydney are estimated at 8s per hundred so that a profit of £25,000 is to be made on the timber. Then the 800 acres of dugout gum land are to be sold at£7 10s an acre and the forest lands at 15s per acre; altogether £16,272 15s for land sold. Of course the Company do not anticipate having to call up even one-half of the capital and hope to make a clear profit of £29,272 15s for the investment of about £7,000. The prospectus hails from Sydney and possibly our friends over there may find sufficient capital for the enterprise. The objections already raised are however of only secondary importance as they only effect those who form the Company It is unfortunate for this district and the Colony, that Mr Owen ever became possessed of such a large block, as such monoply of land by an absentee must prove a hindrance to settlement. Two or three points in the prospectus are of extreme importance to this district, and to the labouring portion of our community specially. As we have already stated it is contemplated to lower the gumdiggers’ earnings to 10s per cwt of gum dug. Then those who desire to settle on the land are to be asked to pay between £5 and £lO per acre for the freehold. And lastly the Company contemplates exporting the timber in baulk and does not intend to give our mill men a share in the work. A few weeks back we referred to the baulk timber question and asked those interested to take it up. To this the response was but limited, and about the only reason urged for allowing the export of baulk timber to continue unchecked was that if any hindrances were thrown in the way of such export owners of small bushes would be placed at the mercy of millowners, Now we have some persons seek - ing to form a company for the export of twenty or thirty millions of kauri in baulk, and we again ask whether some steps should not be taken to secure to our working men the employment to be derived irom the cutting up of the products of tlieir own country.

If it will pay our Sydney customers to import in baulk and then cut up, it should pay them to allow our sawyers to do the cutting and take the timber ready for use. We could name several men who have been thrown out of work by the closing of mills in this province and have gone to the Australian cities where they are now engaged in cutting up our timber. These men though employed at the same work and on the same timber (Auckland) are no longer helping us to bear the burdens of our government and country, but are assisting our sister colonies at our expense. Surely there can be no justice in this ; it seems to us that our Australian friends might well be arraigned on a charge of open robbery.

The Auction Sale at Mititai on Wednesday was not at all brisk. Very little changed hands. Mr M. O’Connor has promised a donation of £5 to the Wairoa Rugby Union. Mr N. Moros has forwarded a guinea. Our population still seems to be on the move; Departures 1,681, Arrivals 1,048 are the numbers given for April. Mr J. Robb, late of Tokatoka, lias been temporarily appointed to Newton East school.

Several members of the Aratapu Brass Band played in Mr Haynes’ Rink, at Dargavillo, last Saturday evening. Mr Haynes was always a friend to local bands.

Sir E. A. Dashwood, and valet, and Lady Dashwood are amongst the passengers on board the lonic which left London on April 1 Ith. Mr D. Garner Jones late of Te Kopuru, has resigned his position under the Education Board as the Board found him guilty of irregularities in his school roll and were about to dismiss him. ’ Messrs Mead and Barbour launched another pearling ketch for the Torres Straits this week. She is called the ‘ Eon ’ and is in all respects similar to the Dad which only recently reached her destination. The W. F. Witzemann has completed her trading to this port and is about to return to America, where Captain Johnston intends to settle down on his farm. The vessel has had a very profitable career during her engagement with the Kauri Company. Mr John Morgan has purchased four young ostriches to run on his farm. The birds were landed on Thursday evening and attracted a lot of curiosity. Mr Morgan is undoubtedly one of the most go ahead settlers of our district and we wish him every success in his ostrich farming.

A young man named Christiansen met with a severe and painful accident at the Aratapu rink last Saturday. He was skating in the Rotunda and coming near the wall he put forth his hand to grasp one of the iron bars which protect the windows, but evidently aimed too high and put his hand right through a pane of glass. His arm was severely cut between the elbow and the wrist and blood spurted forth rapidly. He was taken outside and went to his sister’s house. Mr Samuel Webd was in the rink and judged that the artery had been cut, so followed him home and skilfully bound the arm to stop the flow of blood till the arrival of the doctor, who had been immediately sent for. Dr. Norton came quickly from Mangawhare and attended to the wound.

The news of the sudden and sad death of Mr F. Turney was received with very deep regret in this district, Mr Turney came out to the Colony many years ago and first started at the mills in the Sounds about Picton It was from there that he came to Te Kopuru about thirteen years ago. He first worked in the mill at the latter place and was unfortuuate enough to lose one of his fingers there. He was unable to work for some time, and when he did resume work it was in the saw-doctors’ department. There he remained until after the Kauri Company took over the mill, and amid the general retrenchment of skilled artisans who required adequate payment Mr Turney’s services were dispensed with and he repaired to town. During Mr Turney’s residence at Te Kopuru he made many friends for he had ever a good natured genial character. Very few men, if any, contributed more liberally than be did to public and charitable objects.

When the Board of Reviewers of Assessments adjourned after their first meet ing at Dargaville on Thursday last, having decided to hold their next sitting on Tuesday 7th June, in the Council Chambers, Aratapu, (this place being much more central and conyenient than Dargaville) a question arose as to the legality of such adjournment, whereupon Mr F. Bradley, the Chairman of Reviewers, telegraphed to Mr Crombie, Commissioner of Taxes, Wellington, for information. The message was sent from Dargaville at about 3.30 p.m. and the answer was received at Aratapu the same evening at about 5,30 ; pretty smart communication. The answer received by Mr Bradley was as follows:—“The Board of Reviewers has full power of adjourning, and naming time and place of adjourned meeting.” As there are only the objections of the Kauri Timber Company and Mr Nirarao to bo dealt with, the Reviewers expect to finish their duties on the day above named »