The Walkato Argus GEORGE EDGEGUMBE, Proprietor. TUESDAY, OCT. 13, 1896

Waikato Argus, Volume I, Issue 41, 13 October 1896, Page 2

The Walkato Argus GEORGE EDGEGUMBE, Proprietor. TUESDAY, OCT. 13, 1896

The report of the Committee of the House set up to inquire into Banking affairs is presented, and a terrible tale they have to tell, as the result of several weeks' investigation. It appears that sinee 1888 no less a sum than £'6,o'.)j.ld[) has been written off. From this there is to bo deducted £171,10G now standing to the credit of the contingency fund account, leaving £2,1)24,003. To that has to be added an estimated deficiency, transferred to the localization Board of £SoS,OOU, estimated additional deficiency, i'lo.OOO, Contingency fund (tue whole will be required),£'l7l,l36; ascertained losses in IS9G, £45,000 ; total, £1,110,131). This, added to the above £2,924,063. makes a total of ascertained and estimated losses of £4,0-10,790. In addition to this, there may be losses in the trading concerns remaining in the hands of the Estates Company, but of these the Committee report they have not been able to form any reliable estimate. During the period when these losses were made no less than £2G.">,GSS was paid away in dividends. The Committee conclude this portion of their report with the remark : " These figures tell the story of the past management of the Bank." The formation of the Estates Company was a sham to blind the eyes of the public to the true position. It did this, however. It gave the directors a colourable excuse to pay dividends out of purely imaginary profits, but knowing as they did that this company was part and parcel of the Bank, inasmuch as tho Bank held all the shares, their conduct was on all-fours with that of the City of Glasgow Bank directors, who suffered lone terms of imprisonment for their " mismanagement. The Judge, however, who sentenced them had quite another name for their proceedings. The Conmntte condemn tho Government for not having insisted upon fuller information before introducing legislation to assist tho Bank, but <vs could only be expected from a Committee so constituted, it adds: "Had, however, fuller information been obtained at the time it would not have been sulHcicnt reason for the Government to refuse to assist the Bank." If the information had been insisted upon however, it would have prevented the Government from assuring Parliament that the first gir.uanteed million would tide the Bank over its difficulties and place; it in a sound position. This statement subsequent events have proved conclusively was justifiable, in the first place because if was not true, and in the second because Ministers who made it, had they done their duty, would have known tin; fact. No far from the original statement of Ministers proving correct it lias been deemed necessary for the country to guarantee auutbov two millions, and

there is every reason to fear that this will not be the lust liability the country will have to suffer, and that there is every probability of another Guarantee Bill presenting its unwelcome figure to Parliament next session. The banking experts who arc iu a position to know, and who have given evidence, have not committed themselves to a stronger prophecy than that with skilful and careful management the Hank may be able to meet its liabilities. So much for the By.uk of New Zealand's past and present position. As to the terms of amalgamation between the two Banks, the evidence points to the fact that the bargain made with the Colonial IBank was satisfactory to the country in that the Bank of New Zealand had the best of the bargain, with the result that the shareholders of the former are rn-opor-tionate sufferers. The Committee recommend that some of those whose names appear on certain lists shall be relieved by legislation, of which, it may be noted, the Premier lias given notice, As we pointed out above, exports only predict success to the Bank if the management is wise and skilful. This being so, the remarks of the Committee in regard to the officers who control it call for most serious consideration. The Committees state that the evidence brought before them leads to the opinion that the balancesheet dated olst August, 1595, did not disclose the true position of the Cokmial Bank, and that the examination which preceded the purchasf agreement shows that mismanagement had taken place, the responsibility for which rests upon tho directors and officers of that institution. They are also of opinion that the crisis in tho history of the Bank of New Zealand was directly traceable to the errors of judgment and gross mismanagement of the directors and officers of that Bank. They add that their conduct should at that time have beer, inquired iuto, with a view to criminal proceedings. In this regard tho Committee remark that several of the directors were opposed to the appointment of the President and General Manager on the ground that it was undesirable that the two chief officers of the Bank of New Zealand should be chosen from tho staff of a Bank, the management of which they considered had been far from satisfactory. Others favoured the appointment of Mil McKenzie on the ground that it would give confidence to the customers of the Colonial Bank and in consequence there would be less risk of losing the good accounts. Every man will endorse the principle if not the details which follow, " Your Committee recommend that a re-or-ganisation should take place. The office of President should be abolished and a new General Manager appointed, the directors be increased to eight, to consist of three representing the shareholders, three to be appointed by the Governor-iu-Council, one to be elected by the House of Representatives, and one by the Legislative Council, the Chairman to have the power of veto and be appointed by the Governor-iu-Council, and as far as practicable each commercial centre of the colony to be represented. "We will return to the subject in a future issue and touch upon aspects of the position which wo have omitted above.

Wo notice from the Herald that Mr Spencer von Stunner Ins announced his intention of eontcs'ing the Paruoll seat at the coming election. The barometer ranged unusually high yesterday morning, the glass indicating 30.5."), a reading which has rarely been recorded in this district. All English mail, via Suez, per S.S. Tarawcra, will close at Hamilton at !) a.m. to-day, and one via Kio do Janeiro, per S.S. Aotca, at 1.30 p.m. tomorrow. Yesterday morning a daughter of .MrThos. llinton, ot Maungatapani, near Morrinsvillc, was admitted into the Wai. kato Hospital. The little girl is seriously ill with pleurisy. Owing to the excessively wet and cold evening the meeting of the Cambridge Branch of the fruitgrowers Association that should have been held on Friday evening was adjourned till Wednesday next at 7.30 p.m. An infant child of .Mr Quinn, of Hamilton East, died rather suddenly last evening. Although previously attended by a doctor, the Coroner (Mr T. H. White) deemed it advisable to hold an inquest, which will take p'aee to-day. The many friends of .Mr W. K. Carter, of Cambridge, will regret to hear that he is at present an inmate of the Waikato Hospital. We are glad to siy however, that his illness is not a very serious one and l)r Kenny hopes to hive his patient able to leave the institution in a few days.

An announcement appears in this issue from the well-known ;eratcd and cordial nianfacturcr.s, Messrs Men/.ies and On., 'IV Arolia. The principal partner in this linn has been visiting the various centres in Waikato daring the past few days with the view of pushing the firm's business in tins district. .Messrs Cousins and Cousins, the well-known coachbuilders of Auckland, intimate that, owing to pressure of business, the J' will lie unable to have an exhibit at the Waikato Show this year, but enquirers are requested to communicate with the lira) through their Waikato Agent, Mr \V. T. Davidge, Hamilton.

The privileges in connection with tlic forthcoming Waikato Agricultural and I'astora l . Association's Show were sold by Mr John Knox nt his unit on Saturday last, both realised satisfactory prices. The bar fell to .Mr Tlios. Buxton at £3O 10s, and the temperance booth to Mr J. T. Home for £lO. Tin paces for the same last year ware. Bar, £.">! ; temperance booth, £S 10s. At Messrs jNEcISTicoI and Oo.'s Kale, on behalf of .Major frtorge, at Wairakau on Thursday, the cuttle to be offered are all of the best class. The fat .stock arc in prime condition, and the .store steers —a nice forward lot—arc ready for finishing off. The implements and furniture are all in good order, and should realise satisfactory prices. The sale will commence at noon, luncheon being provided.

A valuable draught mare belonging to .Messrs .1. and .J. Primrose, of Kirikiriroa, which shortly after foali'ii" developed .symptoms of inflammation, "has been successfully treited by Mr Slammi'il, our local vet. In the testimonial given by the Messrs Primrose, they express themselves as thoroughly satisfied with Mr Stannard's treatment. The mare has now, we are pleased to hear, fully recovered from the ailment which atone time seemed likely to prove fatal.

At the Wcslcyan Church, Hamilton, on Sunday evening, Rev. ,T. J. Mather announced that on Sunday next the pulpit would lie occupied by a lady, .Mrs Freeman of Ohaupo. Mrs Freeman as the residents of that district know, is a fluent and aide speaker and her presence will no doubt attract largo congregations. Mr .Mather will proceed to the King country on Thursday to conduct .ei vices in that part which in a leligtoiu sense is strangely neglected.

Mr Cooke, of Melbourne, has arranged for direct shipments of Australian meat to several provincial ports.

The Waipa County and the Hainiton Boronuh Councils and the Hamilton Domain Board will hold their monthly meetings at their usual times to-day. Messrs McNicol and Co. will hold a special horse sale in the Hamilton Borough Yards on Wednesday, 25th November, for which entries are solicited . In our local on Saturday with reference to Mr \V. .1- Hunter's horse fair at OTnuipo to-morrow, the date was given as the 24th instead of the 11th inst.

The Hamilton Cricket Club will open the season to-morrow with a match on Sydney Square—married v. sing'e. Both sides are working hard to put the best team iu the field, and a good game may be looked for. The Paeroa correspondent of tho N.Z. Herald states that a letter had been received at •hat place staling that the Hon. Mr Cadnian, who intends contesting the Ohiucmuri constituency will visit Paeroa immediately after the session.

Those who witnessed the display of fireworks at Hamilton last year will be glad to know that Mr C. C. Cox is arranging for another to be held early in November. He has been for the past few days engaged iu collecting subscriptions, and Ins met with such success that the amount obtained will allow of the purchase of a better selection for the coming occasion.

With the approach of. line weather, the members of the Hamilton Lawn Tennis Club are hard at work getting their courts in order for tho cominf season. Tnere was a good muster on the courts on Saturday, and some interesting matches were played. During this week new tapes will he laid, and the courts generally overhauled, and the annual meeting will we understand he held on Saturday next.

On Sunday morning a son of Mr W. F. Bell, of Hamilton '.East, met with a nasty accident. He was jumping off a fence, when He fell on n, piece of wood, part of which ran into his arm and broke off. One piece was extracted at once, but as the other could not bo seen, he was taken to Dr. Brewis, who placed him under chloroform and removed the other part. The little fellowis now making good progress.

In summing up a share-dealing case in Loudon, Mr Justice Willis 3aid that when he first cime upon the bench he used to think tint drink was the most fruitful eaiiie of crime, but in recent years he had somewhat modified that opinion. He now thought it was a question whether the unlimited facilities for illegitimate speculation on the part of people who had no means of embarking in it, but who were tempted by advertisements of the kind issued by the plaintiff, were not a more prevalent source of mischief and crime even than drink.

On Sunday the Rev. L. Hudson preached a special sermon on " .Music " in St. Paul's Church at Cambridge. The building was crowded, but \\c learn there was very little difference in the amount collected to that taken at the ordinary services. The soloists were the Misses Caley and Jarrctt and Mrs Hudson, who sang "The Homeland/' Miss Garland gave " 0 Rest in the Lord " from Elijah, and took the solo in " The .Sinner's Return," which was given by request. The choir sang two of the Jubilee Singer's choruses, " Ho Rose " and " Steal Away." The accompaniments were played very nicely by Mrs Hudson.

A widow named Jane Wakefield committed suicide on Saturday afternoon in Auckland. She is reported to have been drinking during the past week, and her two children, a girl aged 11, and a boy aged 10, tried to take care of her. During their temporary absence from the home in Cook - street, the deceased woman sent a child lor " Rough on Rats," which she purchased at a chemist's shop. Shortly afterwards the boy, Sydney Wakefield, returned and found his mother in a bad way. The boy told sonic neighbours, who came to sec what was the matter, they saw the remains of the poison about and concluded that she had poisoned herself. They sent for Dr. Hooper, who ordered the woman to be taken to the hospital, where she expired about an hour after admission.

A daring attempt was made to escape from Darlinghurst Gaol, Sydney. last week. The authorities arc very reticent over the matter, but Haieford, alias i'rudgeon, who made the bogus confession re Hawkin's murder in Wellington, for which Cheniis was convicted is understood to be the prime mover in the matter. Owing to retrenchment the night staff was somewhat; curtailed, and this evidently afforded greater facility to th". operators. A hole was cut in the ceiling of the cell, by which means the roof was reached. Crappling irons, with a line attached, had been thrown on to the wall, and the escapees would then have .scrambled down the water-pipe, and thence over the wall into the street by means of a grapnel. A timely discovery of the plant upset the plot.

.Air C. D. Farley, manager for .Messrs Reynolds and Co., was in Hamilton for a short while yesterday. During the past week he has been engaged in handing over the creameries of Messrs Reynolds and Co. to the representatives of the New Zealand Dairy Association, and he completed this work yesterday afternoon. Notwithstanding the differences that have existed between the old company and the suppliers in the past, we understand that, throughout the district, almost universal regret has been expressed that Messrs Reynolds and Co. have had to retire from the business, and Mr Farley informs us that he is very grateful to the suppliers for their expressions towards him on his retirement. His work during the past few days must certainly have been not altogether pleasant, as it severs many ties of long ,-tanding. Mr Farley has been eonneetoJ with the Waikato milk supply industry for many years, and during hia service with Messrs Reynolds and Co. of over ten years he has not had a holiday, and before settling into harness again he intends to take a spell and have a good rest. How often it seems to us that death chooses as his own our brightest and best. To the sorrowing family and many friends of Mr John Fleming (alder this painful thought must have been borne home at his taking lumee, on Thursday morning last, with a pang, but little softened by the knowledge that the summons could not be long delayed. The brief career of this clever and accomplished young man points once more to the terrible results of neglecting what appears to be but a trilling indisposition. That his ease had been wrongly diagnosed by the medical man he consulted is only too clear, for with serious lung trouble lie coutinucd to discharge his arduoua duties on his father's farm at Whatawhata for a long time after the cold hail settled on his lungs, under the impression that he had only strained the muscles of his side. Kight weeks he spent in the Auckland Hospital, ami then his family, chielly for his health's sake, removed to To Aroha. The disease, however, had got too firm a hold upon its victim, and ho died very suddenly on Thursday morning, aged 2U years all but 10 days. Young ('aider was a good musician, and excelled in such a delicate work as violin making. We have seen a specimen of his workmanship, which affords ample proof of his ability in that direction, and bespeaks in its maker the possession ol artistic intelligence ol a high To Aroha Nowo.

The concluding football match of the season will be played at Cambridge tomorrow, when The Town will meet The Gymnasium. The following will represent The Town: Full-back, Popple; three-quarters, Iverr, Howe and Forbes ; half, McFarlane ; live-eighths, Johanscn ; forwards, Hciison,scu. (captain), (rolder, Lodder, \V. Stuart, Wilkiusoo, Carter, Hill, Moisley and Bell, Emergencies, S. Henson and W. Rout. The Maungatautari natives hardly know what to do with their gold mine, and they have invited Mr Tlios. Wells to go up and inspect the reef next Monday and advise as to what is best to be done. Wo quite expect they will throw open the field to European prospectors, indeed it has been rumoured for some time in Cambridge that that step would be taken on the 15th inst., the day after to-morrow. That there is both gold and silver at Maungatautari is certain, for quartz taken from the outcrop of the reef that the Maoris are at present working at, gave a return of 2dwts. 12grs. of gold and 7dwts. llgrs. of silver per ton, its value being K)s 81. If the outside of the reef gives that, it should surely improve as it goes deeper, In a late issue wo announced that Mr 11. Gordon Rich had purchased Mr Brindle's place on the Fcucourt road, at Cambridge. That was correct for all arrangements had been made and a deposit paid, but by mutual consent the sale was declared oil and Mr Rich has now purchased the next farm to the one above mentioned, viz., Mr Geo. Mann's pretty little estate known as "Glynn." Tiie price paid averages about £l7 per acre, but that of course includes the homestead, which has lately had a lot of money expended upon it, and also one of the best orchards in Waikato. Messrs McNicol and Co. will sell Mr Mann's live and dead stock on Wednesday, IStll November, and those who require really good milking cows cannot do better than buy some of Mr Mann's, for he has been weeding out all inferior ones for some years and those remaining are all first class.

A subscriber writes :—" There were many incidents on the second night at the late Hospital ball, which to say the least may have been very amusing hut at the same time were very disgusting ; one among them was specially noticed by our observing friend. It was this : A lull had occurred in the excitement and bustle of the supper hall, nearly all having vacated this interesting part of the premises for the •'sheep-yard." Presently in came three characters known to our correspondent. The tables, burdened with their loads of all sorts of delicacies, uncorked bottles, etc., caused the faces of the three to beam with satisfaction. In front of them lay two beautiful turkeys. A brief consultation resulted in one of the aforesaid dissecting the gobbler, and extracting the stuffing. I fancy I sec them now, with stuffing in one hand, junk of breast in the other, and each with a bottle of xxxx in a direct line with his waist-coat biu'ons. They had a royal time. But for only three to geb outside of two large fat gobblers was no easy task, and as a solution of the difficulty, one of the birds was spirited away in a nice clean napkin, when after much precaution and vigilance, the ceremony of "scraping the bones" took place in one of our local workshops, and after all and sundry had expressed themselves on the merits of the deceased gobbler, its remains were rtvorently consigned to the dust-bin at the rear, and none of the partakers of the feast appeared ashamed of themselves. lam ashamed of them. Such reprehensible conduct might have been attributed to persons quite innocent, but for the timely arrival of " Subscriber/'

A debate on thequestion, Whether men or women have done most to elevate the human race, took place in the (Jambridge West School on Friday last between representatives of the Hautapu and Pukekura Mutual Improvement Societies, Mr T. A. Hicks (Pukekura) led off in support of men, but the time allowed him was too short, and he had only warmed up to his subject when time was called. Miss Sinclair followed and eloquently advocated the claims of women, her strongest point being the influence of a mother. Mr J. liridgmau (Pukekura) next took up the cudgels and contended that the great and noble women referred to by the previous speaker were but a drop in the bucket compared with the great and noble of the other sex. Neither, he maintained, had Miss Sinclair proved that mothers had in the past mainly used their influence for good. Mr Russell (Hautapu) next spoke briefly, and was succeeded by Miss Dean, who dealt chiefly with reformers, preachers and missionaries, the vast majority of whom had been men. Miss Sinclair again spoke, criticising the arguments of the previous speakers. Mr J. Dean followed and spoke at considerable length, contending that as woman had for centuries held a very inferior position she had, until comparatively recent times, been practically debarred from exercising any influ?ncc outside her own home, and that owing to her tiegraded position her home influence in the past hail been pernicious to a greater extent than was often supposed. Mr Dixon (Hautapu) then dwelt very strongly on the selfishness of men as opposed to the unselfish love of women, which he said had been the greatest uplifting power in the past. Mr T. A. Hicks closed the debate by replying to various arguments used by Mr Dixon. He traversed the statement that women were never seen at low exhibitions such as prize-fights, etc., and instanced the bull lights in Spain where the women were as eager for the sight of blood as the men. There was plenty of proof that selfishness was not exclusively a possession of men. The question was then voted upon, the Pukekura Society winning by 1") to 11. It was arranged that the Pukekura Society should visit Hautapu on November och. A. vote of thanks to Mr \V. Waihoe for the able manner in which he had tilled the chair closed what had proved to be a nio.-.c interesting meeting.