TINUI.

Wairarapa Daily Times, Volume 2, Issue 109, 15 March 1879, Page 2

TINUI.

0 | (FROM OUR QWN CORRESPONDENT.) j Tinui, March 11, 1870. j Since my last there has been a decided change for the,better, in the weather; Last Wednesday and Thursday we had sonie refreshing alioweva;-anft 1 ciiv-Sanday niglit it rained in good'earnest, filling, up.,tanfe and water-holes, thus supplying a'great .I™"^. is springing sricelyafter the drought, and with an occasional shower we hope for good winter feed yet, Mr Thompson, the contractor for the Whateama. bridge, 1 -is makiifg good pro eress, and he anticipates being finished ill about a we.ek, I am' informed that tin} Highway Board .have not decided ii] addition Ts urgently needed, and for pubiic safety it should be attended to. . •

I see the only genbral store.in the place, mth-too We' market, and £2,000 is being asked for it. TJiis is fhp making of a really I,; biisitr&i,' It is time there wafj Soino"HiipositM : in this lGspect, iilul no doubt there will bo when the to\yn?l)ip,is cu|;,flp r .,..y.v('.v:v >••>> Mr Riddle is.abo'ut to erect a store and accommodation house on the Tiraumea, road, about pightmiles from;Tinui. This will be a public convenienoe, Messrs.Jghnston's store at Castlepoint appears to be' doing ii" large 'trade, and there is every reas6ri%lielieve that this will continue as long as prices, are moderate, ; : i; "j 1 ' r The steamer amved at Castlepoint to-day, and i^,now landing .soiue iO tons of cargo ; this, siippleifiented.by. the Kiwi's 1 to 10 tons Marly..eviuy-Avdek,-shows tlie coniimijjtjmijpf .tiA.q o distrijct"M" be large.' "" '' ' . If-'-Wool-hauling'is liboiit' fimslied for the. season; and- tlie .fhimers-'are busj/' drafting and otherwise, employed,.-, ' I heir that ;the proprietors of.iongdale.. SMIon- intend'•' breaking 'iip..' the.'flats arounds tte'liomestead' for'-ci^s.' :: It''is' to be l)opp(ltlmtothm^ill'!oliow''iSr : example,..

I regret to hear that Mr McLean, late manager of Longdate, hag committed suicide in Wellington. This gcutlemu.ii was highly respected whita)sr<)jsi, \ There are a gj|)d many |sihplainiiiig of severe colds, a sttof tins is owing $j the siiddeti! cli&s of weate. J3SS p ' j If meanly gj?t anotheY fojsni||itV mild weather, with no frosts, -filiate potato ciops may bo fair; however wo hope for the best,

NEW ZEALAND LOAN AND MER- . CANTILE AGENCY COMPANY

The new Zealand Loan and Mercantile Agency Company now occupy thq proud position of'being the largest importers to Engird.of 'Wool from all% Australian and large the Agency's .imports in 1878 b'ejng;Cs,223 bales, of fully 25 per cent, above those of any other firm or company, while their imports. to England •fen Now '.Zealand amounted to! 38,194 bales, which, is more than that! of the three next largest importers put tqgether. *. Jhe folloy.'ingyaport was'ito be presented to the shareholders at the fourteenth annual gefural meeting to be held on ; Friday j t'he7th'^ijj ,^f 'February :-tTlie directors in submitting to the shareholders foiMtttir'approval and adoption, the fourteenth aniiual reiiort Com•pahy ,■ with%lance-aieet containing statement of accounts made up in New Zenlaud to 30th September, and in London ;to' Efi'st December, 1878, invite their attention to the fpjloffing results, j The net profit for the year! 1878 inclusive of-£3;548 2s 9d brought forward the;i'^edin^year, after deducting all expends, interest, commissions and income tax, writing off stationery and furniture, iuid'nidkhig aiiiple proviuion for all bad iihd doubtful debts, shows U sum of £58,091 0s Id, which the directors recommend Bhould' be applied as follows,

To payment of a dividend at ' • the j'iitoof -10 per cei|f,.;pei' 'i ' aiiiiiiiiv/'and'' 'inter&t' 011 | calls paid 'iftttdvanco on . ; old shares ... .%2"8?3 0 2 ,J payment o£a boiius at's f)er ' ... 11,39419 „reserve fund ~:,r . n.'," -2(>;00000 ~-be carried forward A3,824 4 2 .: ; Total :... £58,091 G1 lu'ffuty last ffn'ad iiiteriih'diylUcntl was paid at the rate of 10 per cent, per annum, amounting with 'calls paid in advance to £10,614 that thfcre is now left 'for distribution "tho sum of £23,752 14a,7d.| lii accordance >vith -the resolutions- | passed .at mi .extraprdiuarj: genefal meeting of the shareholders held., on .the' Bth ifebtimry, 1878, ;tliejs3ue-of shares' at £25 ; each then authorised Hm been! car : :ri.®;l- «ihto reflect, ' I on emission at ten shillings per share amounting to £20,000, the directors 'now ' propose' should be added fe'tlie 1 reserve fund, which, with the £20,000 recommended to-be added from the profit of i:tlm--past' -year,'■ will -iticreitsei'l'tljat fund £40,000, thereby -raising it tb'a'total of £lGQ t( Qoft r ,; , r i | Notwithstandi()g ; .t ; he,commercial disasters and financial difficulties consequent on the suspension of the City of Glasgow Bank, and other provincial banking institutions in the last quarter of the year it is with satisfaction that the directors have to inform, tho shareholders that the company lias in no way been involved; in the recent failures. There has been a satisfactory increase of debenture-capital during, the pas) ygay., for which safe ; [fad desirablo outlets continue to be found I in the Australian colonies and New Zealaid. Throughout the former, the evil efl'efcts of the cumulative droughts of tho yfcir 1877 and 18/8 have passed away, and jin the latter, while larger areas are brought under cultivation, increased facilities are rapidly behig afforded for the occupation of the country and for the speedy, trainsit of wool and'graiiit -to the various polts for sliipment! ; - During thepast year tlie : consignments of. these and other colonial products to the company have been much developed .ftiid,it. ww occupies for the first time the highest position amongst impiirtors of colonial wool; ■ ; T The extension of the company's business has necessitated colisideraDle additions to the stall both in London and the colonies. Tho directors, accordingly, consider ttyt the time has now, arrived for the establishment of a' Guarantee and Provideilt Fund, for the purpose only of insuring tlje iidelty of the company's officials, but, bV the accumulation aiiff investment of guarantee premiums which have hitherto beeii paid to various associations on their behalf, of making. provisions for the payment of suitable pensions, on retirement, to those who, after a satisfactory tern} • of service, might be' precluded from remaining;,oil the, stafl> .In ' order' tiff Mii a juicleusjfof.such B>iuftd; tli6 dlfeteis mvtte .po-operation-(if the shareholders bt tlie jiuithonsiiift- a sum,of .L 5000: to be tlie^divlS . at tl)q.disposal.o^

:: 'Mforlhit.y ! with : the : ' provision?' o'j the Articfe 1 of Assdciaiioh's,'Sir Jame! .•Eergasson- and 'Mr Bo'utcher - retire ! Mnj the Board of Directors, but offer selves for re-election;•••• " i '