The Wairarapa Daily. WEDNESDAY, JANUARY 7, 1885. NEW ZEALAND AND THE MONEY MARKET.

Wairarapa Daily Times, Volume VII, Issue 1882, 7 January 1885, Page 2

The Wairarapa Daily. WEDNESDAY, JANUARY 7, 1885. NEW ZEALAND AND THE MONEY MARKET.

Some apprehension is now felt as io the relations of this colony with the English Money Market. It is anticipated that the million loan which must be placed, will be raised on somewhat disadvantageous, terms, and it is a matter of notoriety that the new million and a half loan lias had to be postponed. Sir Julius Voqel's friends extenuate the difficulty over the latter by declaring that—- '' The reason assigned by Sir Juflus Voqel for the decision to postpone' flbat-' ing the new million and a half loan is £ very sound and good one, The only wonder is that it did'not occur-to, any one in the colony when it was first proposed to place the loan on the market. There is no doubt that there was a distinct understanding when the three million loan was authorised,.that there, should be.no, more-borrowing for three..years.hyhich •that loan was to cover," and'the Jnterpre-. tation of the Bankof EnglandHhajr.this: meant three financial years'is a fair andlegitimate one. TWb time will; however, expire with the end of March, and in April the colony will be free-to-seek" tho money.market:again.'" Probably the' market by that time will be in a more favorable condition than it ia at present."This special pleading does not clear'the Matter up. , If the facts are as stated, Sir Jut-ius VopEL bad no business to attempt to raise tie million

and.aiialf loan before April, He is on tne horns of a dilemma, and blunders in financing millions are inexcusable. The grave question, however, forces itself now upon the colony as to whethejtheconnection of Sir Julius the. Colonial Treasury is in the London money market; Sir Julius Vogel has been attacked in London financial circles, and whether be has been justly or unjustly aspersed, jnakes very little difference to colonial interests so long as liis 1 name is associated with the causes which led to the disasters of the Telephone Company, .so.'.long", will 'he and the colony lie represents be regarded with a certain amount of disjrust # the: London money market. Of course in placing ourselves in the hands of Sir Julius Vogel we took a. big risk and it would be ungenerous for \is to throw the onus of any reverse on

-his shoulders. Things seem to be turn > ing out unfortunately for .the colony, and when Parliament re-assombles we -expect to see the Stout-Vogll Ministry which went up like a rocket come down like a stick. New Zealand will yet have to say to Sir Julius " Cassio, I- love thee, But never more be officer of mine,"

Mr J. Vile arrived at Pahiatua on Friday eveuirig last, and on the following day took a trip to the Tirauniea Valley in-company with MrMcCARDLE, He writes to the Secretary of the Association that he was quite delighted with thisipiece of country which would settle from twenty-five to fifty small farmers. On Monday Mr Vile was joihed'by-Messrs Reese, Sibblewhite, and P. Petersen, and the party' proceeded- td'the Mariaw'atu Gorge to a hill 'from which a splendid view of the .Mangahao country was obtainable. With the aid of a Road Board map kindly lent by Mr Sbdcole,' the party were enabled to take observations. They saw stretched out before them a splendid Valley containing some five or six thousand acres of level land. Beyond this then was a line country sloping towards theTararua and Mangahao rivers, From the point of observation some of the Uahiatua eonntry was discernible, and they fixed upon a spot on Balfour Hill from which to view the Block, On returninc; to Pahiatua the party proceeded 'to this hill and from this position wero enabled to fix the-locality of the block required. Mr Vile states that the party were then about to visit the Block itself, to satisfy themselves as to the quality of the land and the nature of the country. So far the explorers are satisfied that it is nil the Association desires, Tomorrow the party are expected to return to Masterton, They also express an opinion that there is room for another settlement in the Mangahao Valley on splendid law-lying country towards Eketahuna, Woodville people however have their eye on the latter.

Mr McLeod the contractor for the additions to tho Waihenga bridge, iB making a good start with his work, He has already commenced pile-driving, Mr F- H. Wood holds a stock sale tomorrow, at Hammerich's yards Greytown, The Swimming Club appears to be dilatory this season.' Are there to bo no aquatic sports in Masterton this summer ? We understand that a monster Salvation Army picnic is to be held on Anniyorsary Day, when the Army.k'asVband, which iB practicing for the occasion,'-'wuT be in attendance. '"■ Venture's (No ,2) consultation on the Wairarapa Cup is advertised to-day. The m'anner'-..in which .its 'predecessor was got up and drawn gaye general satisfaction, ; '.' A picnic—is announced in-Mr J. G. Mackay's. .paddpek, ■ at : Kuripunl,<' on'.' Anniversary Dayi " Swings "and ; '6ther games will be provided arid tea'will be served frorrt;s,to7 p.m. Darici!ig-,qri,the green carpet to the efficient )nusio".bf, : Mr l De La Roche will-tie r 3flqther;attraction',;.,i ,The;.'jneeting of the LoyiiLMastertoh' Lodge) to have beenheld-kat night,lapsedfor want of a quorum..- 1 ;. The attraction of-' Jie/Jjipanes* performance- prave'd Vo great, :

We. draw the attention"of our roaders to a new announcement in another column Erom Messrs-G, Watson ,&'Co., the wellknown saddlers of this town.

MrH. J. S. Hayns, of the Public Works Department, Mauricevflle, has had handed to him some boneß of the " Moa" bird, including a bone of the leg, and some of the feet, in a good state of preservation. These bones were dugout of the blue papa, twenty feet under the surface of tho ground, at a cutting 79 miles 31 chains from Wellington, ontheKopuaranga contract, This js the second lot that has been found in this cutting,, When the contract was started, dense bush was growing over this particular spot.

An industry which bids fair to become a commercial success and to meet a long felt want was started at Auckland by the Apple Farm company, The largo consumption of apples and tho high prices ruling for the greater part of the year give ample scope for a company of this sort, • This Company held their annual meeting on the first of Npyember, The manager's report contains the following particulars:—The Company owns -226 acres of freehold land valued at at £4650 at the Tamaki, about 10 mile's from town, During the last year. 47,000 apples trees were planted and all,looked well and healthy, and during the present year 1500 more have been added,.

The Pahiatua Road "Board met on Soturday last. Present—Messrs Smith Sedcole McCardle and Hall, The minutes of the previous meeting were read and confirmed. Correspondence outwards

—A letter was received from .the Masterton Road Board asking for a. settlement of accounts. The following account? aoconnts were passed for payment:— Woodville Examiner, £l4 2s -.(jd.; Mr. Manns, rent of office, £3 1b; Clerks salary (9 months) £3ti '; Petty'cash, £1 10b •Total, £4B ,13s-(id.. . this meeting stand adjourned till Saturday ■•l7th- .insfc, and that in'in-the meantime the overseer 'examine' and report on the suitability 1 of- graval for metalling the Tiraumea road.

Eapp. k Hare've instructed to sell nt mill- price's the following goods: Mosgi'el OlothingaridHosiery, Kaiapoi-Olothing,-AupkTa'nd- Clothing, and; Wellington We intend to clear our large reduclicns,*.aridoffer a "bonuaof 2dn the £, cash to all purchasers Co. the value of £l, Don't forget the address,—Adyt.

; NBOLECfr 18OFTENA8FBRTIUBA.0AU8BOF SUFFERING asHe'dlseajelttslf. Hump nature, warned as it a by repeated examples, is prone to foigettbe ealutay lesions ttjej' u\cul<sfe,and apt to lose by (Wernwnt.fljewnd It tnayredeve from prompt and decisive action: When tbo means a e .within our grasp, It is almost sinful' to iUoW their eKape/'&iid Tioje who overlook U)0 virtues of UDOLPHO WOLFE'S BCHIEPAM AaOS{ATIC/BCHSAPPB must ttairifciWW^mrnatodaod'reimatW,

Tenders aro invited by,Mr..Ewington for a six roomed house.' The Masterton Fire Brigade meet for practice this evening, Mr Daniel Knight had a nasty spill at the Taueru to-day, his' horse falling and rolling on him. Dr Hosking was tele-' graphed for and at once proceeded to the r assistance of the sufferer. The injuries, we are glad to learn, are not serious; . ''•;•.. Three waterspouts have been seen closeto Cape Farewell Lighthouse to-day. Thekeepers were afraid one would havo J taken down the lighthouse. The sound of the water falling on the dwelling-houses i 3 described as being fearful, Sparrows are playing- havoc-w-ith--the-fast ripening crops.on .the Upper Plains and every effort is being made to lessen-'-their.,.numbej:s...by poisoning. . In, some places- they -have-stripped - the-grain from' every ear.

" Yesterday afternoon the-remains of the late Mrs Armond Bennett were laid to rest in the Carterton cemetery, and as was expected, owing to the universalrespect in which-the deceased was-held, the gathering of thote'desirous' of paying a "last tribute, was very'-large indeed; At halfpast two the cortege left Mr Bennett's residence for--St Marks'-Church, wherethe first part of the burial service was impressively read bytheßev T,-Bachelor, after which the mourners • proceeded to the cemetery where the solemn service was completed, and the deceased placed in her last resting place; We are.desired by Mr Armond BemictUb eonvey to the inhabitants of-Carterton and its surroundings his heartfelt thanks'for the very marked token of respect.that so many met to pay to the memory of his late and lamented wife,

The Woodward' , Japanese Troupe, played to a much larger house last night than on their opening'night, The performance gave gave immense satisfaction,' the programme.of the preceding night being varied with additional tumbling and tub 'tricks, Bungaro the ancient Japanese is 56 years of age and does not appear to possess the strength which is required of hinv to conduot his arduous part;: The son is'-a well made young man under the average stature and wfiighs 11 stone, Master James Greenldll took the place of the son in the performance on the larger tub and.w'ept through his part with grace and ease, this was especially noticeable wiien he stood on his head on the top of the tub, and raised himself till his feet touched tho ceiling whilst the audience held their breath fearing. a different denouement. The performer however, gracefully returned the way he had gone and was loudly cheered on reaching the floor qf the stage, Tl>e sand dance, negro' business, and tumbling were executed with equal skill. Mr Woodward thanked the audience for their patronage, and asked a favorable report to their friends in the other Wairarapa townships,