The Waikato Times AND THAMES VALLEY GAZETTE.
Equal and exact justice to all men, Ot \vhatsoe\ur state or persuasion, re%ious or po)tt'ir.i). Here shall the Press the People's ri«h' maintain, Unawed by influence and unbribed by gain.
TUESDA V, DEC. 18, 18S3.
Tiik telegrams which h ive reached us in reference to the New South Wales Loan are very instructive. It has long been felt that the rates of interest for colonial loans have been unnecessarily high. The cause appears to lie in the fact that the brokers will have the price of the loan fixed at such a rate as will leave them a handsome ptofil when they retail it to the outside public. If they cannot get this done they damn the loan, by bearing the stock of the colony that may be applying for it. The late Victorian. Loan was put upon the market with the avowed intention of ignoring the brokers and their profits, and what was the consequence 1 It resulted in complete failure. It is well understood that investors in stocks of a comparatively unknown character are guided almost entirely by the brokers, and are deterred from investing, or encouraged to invest, by their advice. New South Wales has now come into the English market with an application for a loan of three million*, for which it is prepared to pay -1 per cent. Now, New South Waks stock is notoriously as wood as any investment of the kind In the world. Tt possesses a territory of 310,037 square miles — three times as large as Great Britain and Ireland — it has a rapidly increasing population, already numbering nearly 850,000, and as many sheep as Great Britain itself can boast of. Its revenue is about £6,000 000, and it has 1200 odd miles of railway, which are already nearly paying expenses and interest. Its debt, the while, does not largely exceed 20 millions, and it is of course needless to add that the interest has always been regularly paid. Under these circumstances New South Wales naturally says : " I want my money at four per cent.," and it is but fair that it should get it. But the brokers won't have it. At 98 it would do — at 981 even it might be fathered, but at par there is no margin, and the proceedings must be stopped, and the credit of the colony damned, because this ring cannot put, one ond a-half or two per cent, and what premium they can make over and above par, into their own fobs. Victoria, after its failure, lowered its minimum, and the loan was instantly subscribed, and just as quickly rose to a premium, and now stands, ex two months' interest, at 100|. But New South Wales is a very strong colony, and can afford a little rebuff, and it is therefore devoutly to be hoped that she will make a strong stand, once for all, to bring herself face to face with the bona fide investor. There is a very significant paragraph in the telegram, that "the brokers think the loan will float, as investors are offering \ per cent, premium." At the same time brokers are "bearing" Now South Wales stock, and have knocked it down 2 per cent. Let us hope the colony will win, and colonial stock, for the first time, be independent of brokers.
The full text of the " Federal Council of Australasia Ac^, 1884," has reached us, and we shall endeavour to find room for it in an early issue. This measure is the fruit of the recent Conference of , colonial representatives, which, concluded i,ts sittings at Sydney a few days ago. Whatever opinions may obtain on the subject of the further extension of the empire by annexation, \ve had thoughts that, tnoj question.,, of •< federation was ■ one- 1 abp"qj> ■ tybich
most f4&pltnvfc£|i|pid>,. To overy patriotic Australian tliH dream of a grand jrnited jeniplrp in these seas mtist ho an eve* pr seritand all-ab-sorbing one, iTLud in tinjes to come, no matter.' what bb'stablos shortsighted politicians inny pub in the way, tliere must lie a federated Australasia. As separate sfcvtes ti.o colonies can never hope to nchie-e much greatness, ne.ver t xhibifc much progress, whi'e as a united whole, ani mated with one national feeling, they may attain to the highest position among the nations of the oar h. There are so many questions of international importance arising nowadays, t > deal with with which it is necessary to have some federal authority, that the change cannot with safety be much longer delayed. Our commercial and social relationships are attaining such magnitude as to demand that more elncient means for their regulation should be applied, while the necessity for providing for our defence, as much against the influx of the lowest criminals of France as against the guns of an enemy, demand that the colonies should take concerted action. Looked at from any standpoint, it seems to us that federation is one of the wants of the age. We do not suppose for a moment that the Sydney Conference has done everything that is to be done before the change can be effected ; nor do we think that the delegates are so vain as to imagine that they have settled the question once and for all. That they have done good work we do claim, but the details of the scheme which they have shadowed forth must of necessity be settled by the c mtracting parties (i.e. the colonies) themselves. We are sorry to see u journal of such influence as the Auckland Herald at the very outset ranging itself with the opponents of federation," which it seeks to discredit on the plea that it; is but centralism emphasised. Our contemporary, however, bespeaks " attentive perusal of the bill on the part of every colonist that has the least puVie interest in the welfare of New Zealand." To this wish we cordially subscribe, booausft it .seems to us that nothing but thoughtful consideration of the subject is wanted to bring the principle of federation into general esteem.
1 The concert in aid of the Hamilton West School Funds will take place in the Public Hall to-morrow evening. In consequence of the date of Mr J. S. Bucklatid'rf regular" cattle sale :it Ohaupo falling on Cnt'wfcuiaa Day the sale will be held on Fiid.iy next, the 21st. That portion of the CambridgeHamilton road between Fanthams corner and Hautapu, having of late fallen into a bad state, the highway boaicl is about to undeitake its repair. An important meeting of the Cambridge School Committee will be held this evening, at which the proceedings ;ue expected to be somewhat interesting. The first performance of the Comns Dramatic Club, for the season 188384, conies off at the Oddfellows' Hall, Hamilton, this evening, A \eiy attractive pi ogi ammo has been piepaiod, and theie will doubtless bo a laige attendance of honorary incmbcia. A proposal will be submitted at the meeting of the Pialco County Council to-morrow (Wednesday) to erect a powder magazine at Te Aioha. Laige pai cols arrive daily, and theie is no suitable place to receive them. The Cambridge end of the Victoria load, which has ne\ei yet been piopeily formed, and which it. now almost dosed in with a thick growth of ti-tree and flax, ii about to be cleared and pioperly formed. This will ceitainly be a much needed improvement. Steps are at present being taken for the opening of a new road through the land of the T.vniahere estate which was recently cut up into farm* for the accommodation of the new settlers. Mr S. S. Graham at a meeting of the Cambi idge Board on Satin day last moved, in the matter. His Worship the Resident Magistiate gave judgment in the case W. M. Hay v. Tippen on Saturday. Judgment was given for £3, or the return of the heifer, with £2. The Magistiate held that the conduct of plaintiff was not such as to estop his taking action againt the defendant. At the Police Court, Hamilton, yesterday, before Mr H. W. Noithcioft, a girl named Mary (4ilfoyle, aged 13, was committed to the Hosvo-.street Industrial School until she shall ha\e i cached the ago of 13. The girl, who resided at Ngaruawahia, has given her mother a largo amount of tumble, and on one occasion lemainod away from home for five months in Auckland. Owing to the present bad condition of thoCambridge-Oxford road in places, .some cairiers with lien vy loads have elected to dri\ c round by Hiimcra, which, though a long ciicuit, is decidedly the safest and more easily travelled road. Doubtless, now there is a possibility of fine weather prevailing for a time, the constabulary road party will attend to the many unpleasant and almost fathomless holes which exist. Great satisfaction was manifested at Cambridge on Satm day evening last on leceipt of the result of the ciicket match with Alexandia. The Cambridge men left home in the morning confident of the superiority of their team and certain of victory. They were conveyed to Alexandra in one of Mr W. K. Carter's drags, drawn by no less than five horses. The weather was exceedingly favourable to the contest throughout the day. The Waikato County Council having signified their intention to strike a .special rate throughout the county, at a meeting of the Cambridge Highway Board held on Saturday last, Mr J. Forrest objected to the rate on the ground that the Cambridge lidnig being in funds and all works in the riding provided for, he could not see why that portion of the county should contiibute to the liquidation of the debts of the other ridings. Owing to the continued " inclemency of the weather, a number of works, principally road formation, in the Cambridge high way district, V a ye be 311 suspended, and others for which tenders have been accepted have not been commenced through the same cause. On other contracts in course of progiess in the district contractor are losing considerably, owing to the disappointment they have experienced m the weather. The Whitehall road, in the Taotaoroa district, is reported to be impassable for traffic at present. At the meeting of the Taotaoroa Board on Saturday last, Mr Brunskill drew attention to the condition of the road and the inconvenience which it afforded to the settlers of the district, in the hope of having something done to it. But the Board is not at present in a position to undertake the necessary improvements. The Rev- E. H. Gullivar, Warden of S. John's College, ■ Aucklaud, officiated at the morning and evening services at S. Andrew's, Cambridge, on fcViday, li^the morning he took his text from the 3rd chapter of S. Luke's Gospel, Jjar^qf 4th verse, "The voice of one crying 'in., the wilderness, Prepare ye the way of the Lord, make His path straight.' In the evening he preached from the 16th chapter of S. Luke's Gospel,, part of Bth verse, " $q Vi the children, of. this. world, are,-- in thejr, generation, wiser than the "children of li(?ht;" <; There' was: anexcbpfci6ually 'large attendance afcbqtb, semises, '- .. The late impounding case, Ha^.y-i jTipperiiitriediin. the3jM'. Courts!jifHa.'mjl- fc ton, points putjjyery^oieftrly^atthe -perßon
besides just handing over the cattle to the* poundkeeper, as the 'l7th clause of the Imv pounding Act roadk as follows: — "Every; person impounding^ cattle in any of <thej said pofthdstihairspecify in writing to the keeper |s*u4b pouiiS'the number' and kind of cattle so impounded, and;the name of the| owner thereof 'if ho'' be known, '"or of the\ supposed ow/her, or that lie is known* amLtho land whereon ftuch 'cattle" were found trespassing, and in case of such land being enclosed with such fence as afoiesaid, the amount of damages claimed for such trespass." The examination of the Waikato candidates for the District scholarships will commence to-day at the High School, Hamilton East, and will continue t»morrow and Thursday. Mr Arthur Gifford, of the Training College Auckland, will MiperwiHe the examination. The number of scholarships to be competed for is twelve. The number of candidates in Auckland is 120, in Waikato 17, and probably similar number at the Thames. Saturday last was a beautiful fine day and there seemed every prospect of a spell of good weather"; but on Sunday, the barometer fell and about midday ram commenced to fall again, culiminating in the evening in one of the heaviest storms we have expeiienced this year. Rain continued to fall through the night, but yesterday saw a change for the better. Irreparable damage has been done to the grain ciops throughout the district, the winter wheat, in particular, having suffered, greatly. The roads in .some parts of the district are in a worse plight now than they were during the depth of winter. By advertisement in another column it will be seen that the favourite ntcamcr Delta will make an excursion trip from Cambridge to Ngaruawahia, calling at Hamilton, on Boxing Day, iv order to afford those who wish to witness the Ngaruawahia races an opportunity of so doing. Should the weather prove line, no I doubt a great many will avail themselves of • this marine trip. Every care has been j taken by the company for the comfort of the passengers. The boat will leave Cambridge at half-past eight, and Hamilton at 10.30., leaving Ngaruawahia on the homeward trip at five. The fares are exceed-, i ingly low. The p.s. Rangiriri will also run between Huntly and Ngaruawahia on the same day to the races. The following special telegrams to the Piess Association, dated London, December 14th and 15th, have been published in the Herald i— The Daily News supports the annexation scheme of the colonies. — The bombardment of ceitain poits in Madagascar by the French still continues. —Sir Win. McArthur ha*, wiittento the London Chamber of Commeice, inviting them to support the claims of the colonies in i expect to wine->, and that concessions should .be gi anted to them similar to those given in Spain. — Mina Jniy, the Tichborne adventuress, has been sentenced to a year 1 -, imprisonment for her recent fiauds.— Austi dliaU whe.it, ex store, is quoted at 4(>s (id to 475. We notice by advertisement in another column that Messis Dougl.is, of Tiiniahere, aie offeiing foi .sale a bundled Giey-faced ewes, which they state may be woiked up into a good Shropshire nock. Looking ovei our Home file, ■we find that at recent sales of Shrop-»lmes, rams havo realised from £3 to 400 guineas each, and that ewes at ordinary sales have fetched fiom£s to £20 a peice. It would be a very expensive hobby to start at these prices a pure Shropshire flock in New Zealand, but by getting pure rams of this breed in JBiiffJiWjd, and putting, sa,y, 50 ewes of the Grey-fact} (Southdown-Lincolu) breed to each, there can be no doubt that a good Shropshire flock would soon be Worked up. Tile Shropshire breed itself has not got a vory ancient pedigree. A number of Down breeds ha\o been made from Southdown and Hanip-.hu c Downs by owmningf with the old local broods. In our last issue we noted the success at Taianaki of a r.im bred by the Mows Douglas, of Tamahere, and shown by Mr Fantlmm. It will inteiest bieedeis and other.-, if we add a word concerning the Hock. In 1881 Messis Douglas bought a iani, which they christened "Giimsby," sent out to Auckland by Messis Grant and Foster, and bied by Mr Kirkhain, of Cadely Hall, Lincoln. This ram was sold by Mr Buckland, and bought at a time when sheep weie low foi 7<> guineas. The ne\t bost iani in the same lot was knocked down for 55 guinea-, to Mr Graham, of Awhitu. Next yeai this urn was also purchased by the Messrs Douglas. In 1882 two ra.ni hoggets by " Giimsby" weie shown by the Messis Douglas at the Auckland Show, and obtained Ist and 2nd prizes, respectively, in the Lincoln classes, and in 1883 one of those took Ist prize in the aged class. Mr A. A. Fantham, lute of Waikato, and now of Hawera, in ISS2, pievious to sheaiing, bought three rams from the Messrs Douglas, with which he took first and second prizes at Patea a few weeks after his pin chase. This year, a» alieady noticed, one of the three has taken the champion piize at Taranaki, and was pronounced b> the judges to be a grand sheep, All tins i,s in the highest degree satisfactory, and must result iv raising the character of Waikato-bred sheep iv the estimation of the outside world.
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Waikato Times, Volume XXI, Issue 1787, 18 December 1883, Page 2
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2,771The Waikato Times AND THAMES VALLEY GAZETTE. Waikato Times, Volume XXI, Issue 1787, 18 December 1883, Page 2
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