Wairarapa Daily Times. [Established 1874.] FRIDAY, JANUARY 25, 1895. THE CHEAP MONEY SCHEME A NEW LIGHT.

Wairarapa Daily Times, Volume XVI, Issue 4934, 25 January 1895, Page 2

Wairarapa Daily Times. [Established 1874.] FRIDAY, JANUARY 25, 1895. THE CHEAP MONEY SCHEME A NEW LIGHT.

[it. Dulhie, M.H.E., said the othei ay, "who wants a-mortgage foi 6i years," and tho New '/malmiu 'hum, taking bim up on this point, üblislied a Government regulation howing that the, mortgage could be iaid off at any time. This regulaion threw a new light, however, and lot a very pleasant one, on the vorking of the scheme. It appears rom this regulation, that borrowers inder the Act, have the light to relay any part of their lpajj.s in nultiplps j}f, sj, but if tjieyvilo so, ky are immediately saddled with a lighcr rate 'of-.interest, and the arger the sum they pay oil',' the ligher becomes the rate they r i)ave o pay, The-intcrest on the-.original ldvance is C:pep.,cent; paid:halfyearly, but only i per cent; is allowed pn repaynients. An example sgiyenip the regulation jn question, so that there can be no pqssfbio ioubt about.the intention. Here it is.—" If the borrower of £IOO should " at the close ■ of tho ■ second year of "the mortgage pay, in addition to "the fourth' naif-yearly instalment " of £3, a sum of £SO in reduction t' of the debt, the instalments would "continue J.Q ))? payable until the balance <rf fh/principal owing "should not exceed the 'amount of "£SO, with interest compounded '•annually at 4 per cent., that is to "say, tho'instalments would be payable for \i y£ars ; ftr until the 28th "Walfflffit bad been pafi wljeu « +i,„"k- -Iftaeeof ijie-principal pwjiig tueK -tfjjg ] s 4(i an rfti iesmn ' of £SO would, .wiii. . • "tiouof interest at 4 per ;1 annum, jmomit to £BO Is. A t W' "mont'of 'ld would consequently "then repay tho whole balance of "principal then owing," Now, in the aboye; case, the balance' due at the end of the second year, Would be W 18s W,' from which would have to be deducted the payment of £SO. This would leave £47 18s fid owing, to redeem which, the borrower would have to pay £6 per annum for 12 years. Thei present value of £8 a year for 12' years, with interest;-ait 5 per cent, is a'trille .owr £53, and the interest, payed by ".%• borrower would bo

about 7 per cent, instead of 5 per cent. If interest were reckoned at j 5 per cent., he would'only have to | pay for 10 years, instead of for 12 , years, i.e. the aggregate of his payments to redeem the balance of £47 18s Gd, would amount to £6O instead of £72. If, at the end of two years, the borrower had paid off £75, instead of £SO, as in the example cited, he would, on the same principle, have to continue his payment of £6 per annum, for 5 years longer, and the rate''of interest he would have to pay, would be 10 per cent. There are wheels within wheels in this cheap money scheme, and this is a somewhat remarkable example. A farmer who endeavors to reduce his term of 36£ years, may find that he is paying, not the five per cent, which lie bargained for, but 10 per cent. This, of course, is contrary to the spirit of the Act, but the letter of the law gives the Government power to make regulations, and if the settler has an advantage under the Act, the department takes a benefit in its turn, under the regulation. It somewhat reminds us of an experience we once had at a bazaar, \a bad paid our admission money in due course, but when we desired to retire from the show, we found there was a charge made for leaving as well as for entering in. The Government, by, its regulation, have levied'a toll oil 1 "paying off" under its cheap mnnoy scheme. Pleasant for the Government, no doubt, but a little rough on settlers.

The Jlev. A. C. Yorke, left Maslerlon for Wellington on Thursday last, to be present at the consecration of the new liishop of Wellington. The next sitting of the S.JL Court ■at JUkctauuna, will be held on February •Ith. '

Tn connection with the Pahiatua Presbyterian Church, services will lie held by licv.W. 11. Phillip, on Sunday, 2?tk inst., as under:—Allredton at 11; Pahiatua at 11, (Mrllopkirk); Pahiatua at 7.

A llawke's Lay correspondent states that owing to the ravages of the cutlin moth this year it is dilliuult to gel a sound apple in the district.

Anniversary services in, connection with the liketaluiiia Wesloyau Church will he held next Sunday. The liev. ,1. Dukes will preach both morning and evening.

A disease has broken out amongst the potatoes in the district this season, says the Woodvillc Jixamimr, by which Hie crops are dying oil' all over (he district. It is supposed to be due to the dry weather.

The Taicri Admntksnp it is rumored that there is a possibility uf a meeting ol fanners being held in the district shortly for the purpose of considering a propusal for the reduction of the wages of harvesters. Hitherto, Sd and Dd has been paid to harvesters, and it is proposed to reduce the rate to 7d.

A liie broke out in the Grcytown Catholic Cemetery, the other day, and by the help of the breeze spread rapidly in the long grass, destroying many trees. The lire was with great dilliculty extinguished.

I'robably the most aged bicycle rider in the United States is a Acw York woman, who celebrated her ninety-third birthday recently by giving a picnic, to which she and her friends rode on bicylcs,

Aii English squire taking a walk through his estate early one morning before sunrise, found a young woman busy at work diggingup potatoes in one of his fields. " What latit as soon as this ?" he hundred. '' Well you deserve a reward. Here," and so saying he threw her a half a crown, When he got home he asked the farm overseer the name of tho girl. "We ain't got no girls diggiu' titters." replied the man, "she must have been diggin' them tutors for herself."

An exeliango says -.-Aiwops of the gown question, why is it that mau, when he wants to look more than usually impressive always gets into skirts '! Surplices, barristers' and judges' gowns,the Speaker's robe, the glaring millinery worn by kings on eoronaliou-day, the millinery of lord chancellors, bishops, cardinals, popes, and other large diguiliiries, are all evidences of man's hunger to get into petticoats.

Messrs Francis Sidcy and Co, announce a sale on Feb. Ist next, of a section in Chapel street, Maslerton. The salo of this clegible freehold property is under a decree of the Supreme Court, for the administration ot the estate of the late William Hickson,

Some 400 tons of butter and 10,000 frozen rabbits will he shipped to Loudon from Melbourne next Saturday. By the capsize of a coach on a steep incline near Bruthcn, Victoria, the driver, named Walsh, was killed, and the passeugers—Messrs Graeber and Thomson, Mrs "Withers and two children-were severely injured.

Mr C. W. Walker, of the Wairarapa Boot palace, is now offering the balance of his summer goods at great reductions. Ten young homing pigeons were sent about a forliiiglit'ago for liberation outside the Wellington Heads, (says the Post), but were carried on by mistake about three-quarters of the way toLyttelton. Of course none wore expected home, hut three of them have arrived, safely aftortwo weeks'battling for home. Tho birds belong to Messrs J. Prentice and W. Perkins. e

Sports lvere held at Alfrcdton on Tuesday last, in a paddock kindly lent by Mr Mkquarric. A correspondent sends us the following results:-District Maiden liace, <220 yds)—J. Wingatc; Alfrcdton Handicap, Ist event, 100 yds, C. Williams, J. licnjcy, 0. Nicholson; 2nd event, 220 yds :—J. Bcrney, C. Williams, J. George; 3rd event, 410 yds: —T. Hudson, J. George, J. Bcrney j Hop, Step, and Jump: -J. fficholk 42ft Win; Three-legged liace i-Nicliolls and Darley; Putting the Stone :-S. Harding, 3Ut oiu; Sack liace :-L. Hunter; Boys l!acc:-T. Emeny; Wrestling :-Hobinson; High Jump :- ,'C. Williams; Hurdlo Hace:—C Wil-' Uarasj Local Handicap, 5 mile:—H, Phillips,' (40 yds); Consolation:-J. George. Luncheon was provided in Mr Macquarrie's woolslicd, the day being wound up. witli a vory enjoyable concert and dauco. ' '•

According to an Oaniaru contemporary, one of the anglers at IhoWaitaki Diver, on Thursday, had a narrow escape of losing an ear-not that that appendage was more than, ordinarily elongated. The wind was blowing a gale, and occasionally it was a difficult thing(o.cast the lines into thewator. One angler, determined to succeed, jerked his line over his shoulder, and tho. wind blow it alongside- his ear. The hooks, as they passed up to his ear, .caught that structure, and the angler rose to the bite with' a yell that would have doao credit to a rodludjan ou the war-path, ..ft. was fortunately found, l H f j- WM no l* to necessary to amputatDthepaL'fqjayQ.thpliqqlis. '

• The following is from Lhi/d's Weekly News:—" Only a few days ago we had'a complaintfroni a Devonshire stock-raiser •who liod received 2s 2d for two pigs consigned to Smithfiold market, when, at current price's, lie should have had 'at least £145... On Saturday last, necks of mutton—iffeiv Zealand-were on sale in a district 61' UortU London at a penny a' lb i breasts Is.' To ik wusiiniw's question lis fosrijy'Eo cheap, the butcher madeans'wr,'Wo'rti.s'twfjng 'em out. ma'am; .they 11 get tii'M of sending it over 890U.'-. -Theao' liilter* acts were known to .the' law as 'forestalling the market -still an offfuce agaihstp'ujjlic tra'del Ths $Mg .are intensely lnjunoifs to tliejniblle, because a fp w rj cjj men havo tbo p'owof to'i'aiso;. prices ofc-tlieiroirn will, audkeop legitimate producers out.

Messrs Lowes & lorns announce their next stock sale for 7th February. A Royal Commission is to be set up to investigate the whole history of the Horowlien.ua block since it first passed the Satire Laud Court in 1873, with a view to the introduction next session of legislation to set at rest all questions of dispute in connection with the titles to the block.

Alamo crowd assembled in St. Paul's Pro-cathedral, Wellington, yesterday morning to witness the marriage of Mr ■Henry S. Hadlleld, Maori interpreter in the Legislative Council, (eldest son of Bishop Hndfield), to Miss Bessie li. Tuckcy, second daughter of the liev. H. E. Tuckcy of Wellington. Iho ceremony was performed by the Bishop of Nelson, assisted by the Vcn. Archdeacon Williams, of To Aute, (Hawke's Bay), and the Her T. H. Sprott, incumbent of St. Pauls.-N.Z.Zto,

Work on the new gas tank at Masterton, will probably be comineuccdnext week,

Jane Dunn, a youngwomau aged 18, died suddenly at Tenui yesterday.

ThcGreytown correspondent of tho Okeiw writes:-" The last news from Coolgardie in reference to the young fellows who went away from here is causing anxiety to the friends of Mr J. Qiiiim, the only one remaining. A letter rcccivod tho other da}-, written before the deatli of Messrs Haigh and Amos, slates ho bad been in the Coolgardie hospital seven days, suffering from the prevailing fever, but expected to be out iif'it lew"(lays. Since then, however, nothing has been heard from him." There were over 1200 entries for the Ham and Ewe fair held at l'etone, on Wednesday, in connection with the Wellington A. and P.Society.The auction-eerswere,iUrW.G-.Fostcr(iN T ow Zealand Loan mid Mercantile Agency Company), and Mr Wilson (Taine and Co.) A fourtooth liomncy Marsh ram, belonging to the Hon. M. Holmes, Oamavu, was sold by the Loan and Mercantile Agency Company, to Mr Alfred Matthews, for 28 guineas. Mr J. Martin, of the Wairarapa, purchased a four tooth Jiomney sheep for 12 guineas, The greater portion of the sheep entered, were sold.

The uowly tarred footpath from Mr Geo. Johnston's store to the school is found to bo a very great improvement, awl residents at the Kuripuni end of the to'wii'speak highly of the work. Messrs Sininis and Mowlem add to the list of entries for their neit Stock sale, in the yards, Queen Street, on Wednesday ;)Ulh inst, -W 18-months old cuttle, and (i() strong yearlings, The Australasian says:—What may prove to be Victoria's opportunity is the falljng oil in the number of pigs in the United States. The returns shows a reduction of about seven millions below tho highest point reached of late years, and tin's willu rapidly-increasing population. As pigs are now slaughtered at a younger age than formerly, it follows than a larger stock is required if the United Slates is to keep up its export and home consumption. Willi our vast dairying industry and mild climate thcro is no country in the world that can raise sound, healthy pigs more economically than Victoria. The pigs can be produced readily enough ; what is wanted iH the _ proper management of the raw material after it has left the fanner's hands.

At a meeting of cyclists held on Monday evening at the Marquis of Normanby Hotel, Carterton, it was decided to form a club, to be called, " The Carterton Cycling Club." A large number of members was enlisted in the room. On Thursday evening the opening run look place, when between 20 and 30 cyclists rolled up, and the largest run held in the Wairarapa took place, Mastcrton.Grcytown and Peatlierston each sending a representative. A road nice is to take placo shortly, for which Dr Johnston, the President has presented a handsome gold medal, Mr Ordisli, late of Masterton, is Captain of the Club, and intends keeping his men together. We wish the new club ovcry success.

The boring of the Blackwall tunnel under the Thames has lately been proceeding with a rapidity said to be quite unprecedented in such work. Within the past two months about 500 feet of the subaqueous portion of the tunnel have been excavated. Considering that the diameter of (ho boring is 'll feet, no work of the kind has ever been pushed forward with such rapidity, ll is nearly half of the most serious part of the boring. The extreme length of the completed tunnel, including approaches, will be G2OO feet. The covered portion will bo JtG5 feet, and that part of it requiring to be excavated under air pressure— the part now in hand—is about lli)0 feet, of which, as we have said, the first 500 feet have been got through in two months.

A Taicri resident, now at Coolgardie, writes lo a friend at Moseicl:—"l was just about wishing that I had never seen Western Australia. There is one tiling certain: when I come back to Now Zealand I will not be likely to loavc it again in a hurry; so if you hear of anyone coming from that part, you can give them my opinion of i(. I sec by the papers, that there arc still a good few ■ coming from New Zealand yet, but if | they laud in this colony just now, they I will soon wish themselves out of it— I unless they are very lucky—for the flies ! arc a perfect terror all day. They seem ito be worst on the eyes, keeping them I sore all the time; so this, along with the heat, docs not givo us a very pleasant time of it. There were some people over hero from • the Jforth Island, that I knew, hut they only stopped a fortnight, having had enough, of the heat and tho place by that time."— Admmte.

Mr Michael Davitt has at last found (says the World) that he is able to pay his long-promised visit to Australia. He is still a person of power in the Home Eulc movement, and has been amusing himself lately by trying to found an alliahfco" with what is facetiously called the Irish' Independent Labour Movement. ' Ho has now written to an Adelaide correspondent to toll him that he hopes to be oror there in February. Presumably he is going lecturing, and if he can dons well for himself as did MrT. D. Sullivan, author of " Dirty Little England," whoisnowreceiving£2ooofor . a course of one hundred lectures, in the I States, he will have no cause to regret j the trip. He is not likely, however, to I bring back much in the way of party subscriptions. Mrs Ormiston Chant, in a crusade against the immoralities of the London music jialls says:—The class which was fheif disgrace and heaviest weight was the.idlc, rich young men. They had scarccjy a'teaspoonful of brains between them'; they had been brought up to be dangled there was no tax upon their imagination, they had nothing to do hut to bo fed like so many machines, dress like tailors' dummies; they had nothing to do but kill time, and they tearcd neither God nor man. Those were the prowlers of life, and they must be amused, althoagh their amusement was reached oyer the dying bodies of men and women. We had had enough of that class of people and could not do with them any longer.

Applo, or other fruit, butter is one of the big things in the backwoods of the United States of America, says an explunge. Prom onoto three largo barrels niay be mado at one cooking. First, a great lot of juice is pressed from the' apples-or other fruit-and this juice is boiled in a cauldron for several hours, being kept stirred with a pole to prevent burning. When reduced by between half and two-thirds, the apples, pears, quinces or peaches, are peeled, quartered, and the clean, piploss, stemless fruit is thrown in a little at a time boiled and stirred carefully tho whole' time, until the cauldron is full. Tho mass is still boiled tor an hour or so. until about sixteen hours have elapsed from'the first filling" with' fruit'juiee. By this time the fruit butter has become j thick, clear, viscid mass, which is then bailed ouTintd''wooil?2 ™i!«,- and' put ayvay to c,po] pdie'pp.; This better will keep good for yeah,

MrO. Praguell notifies that Lis great clearing sale lias commenced. Messrs Lowes and lorns hold a large and umescrrcd sale of furniture and effects, on account of Mr Haigh, who is leaving the Colony, the, lot now being on view.

The Mastcrton Tennis Club report, of their annual tournament, that Mr Broad beat Dr Butement by 80 points to Gl, in the Single Handicap, and in the mixed doubles, Miss Pnyton and Mr Graham, beat Miss JJoddington and Mr Norton, by 82 points to 80. Upwards of 200 names have been obtained for the petition in favor of tho Saturday half-holiday, in Mastcrton, amongst those signing being many country settlers. It is probable that arrangements will he made for taking signatures in a prominent place in the main street, during to-morrow, (Satur '(lay). I bought it in town, Did you ? Well, that's just where you made a mistake. At L. J. Hooper's, you may combine fashion witli economy. That is to Fay, you may dress well without ruining yourself, whether you are a wearer of pants, or one of the petticoat brigade. Mrs Horatio Chromio Hoppers, wli'i runs a hill at a down town draper's, pays (eventually) five pounds for her costume, but does not look one whit better tkn Mrs Eomco Smith, who comeß to the Ben Maroho and disburses fifty shilling for exactly the same dress. It may be added, that both ladies are equal as far as 1 joks, etc, ate concerned, the only difference being that Mrs Hoppers don't or won't know the ropes.—Adyt.

One of tho most cruel and crucifying; pains mankind is afflicted with, is undoubtedly toothache, It wilt bo of interest to know that instant relief can be obtained by applying a littlo of Herb Extract, and lufalliblc Cure for Toothache, which proves a permanent cure in nearly all cases where the teeth are hollow, Everybody at oil likely to get toothmlio slioul.l ho provided with a bottle, which ran he Iwd for 1/- each (guaranteed not to injure the teeth or lmalth) at the W.I'.C.A/s ftiuy Goods Department, also the following: —German cure for corns, 1/-; Mort'in Insect powder and spreaders, 1/- each; Bock's waterproof cement, 1/-; Lock's l'utz piste, largo tin!, 1/-,—l\ Bock k Co,, Manufacturing Chemists and Importers.—Advi,

The announcement is made in another part oi this paper that a sale of greater magnitude than ever yet attempted by To Aro House is now being held, aud should arrest tho at tension, of everynnc in this part of the Colony. Te Aro House has lou> held the peniicr position as the leading Family Drapery Warehouse in the city, and further developments are now taking place to innugura'c tho uow year of 1805, Early in the year Mr Smith admits to a partnership in his business, a commercial gentleman who has lont; been associated with the London buying for Te Aro House, To thoroughly reduce and prepare the stock previous to the partucrship stocktaking, sweeping leduetions will be made in all departments. The stock must be reduced by £1.1,1100, and will be offered to the purchasing public at most tempting prices, heads of linnilies, storekeepers, s ttlcrs, careful housewives, yonn» and old, rich and poor, ivike will save heaps of money by reserving their purchaser for this great partnership sale, which commences on Friday, •ith January, 1895, at Te Aro House.