THRUSDAY, MARCH 4, 1886.

Waikato Times, Volume XXVI, Issue 2130, 4 March 1886, Page 2

THRU SDAY , MARCH 4, 1886.

To-morrow, the directors of the .\ 7 orth New Zealand Farmers' Co>perative Association meet the shareholders to give an account of its second year's operations. In the interest of co-operation we regret with them that the report is an unfavourable one. Not only has the balance of J8519 to the credit of profit and loss at the end of the previous year been absorbed, but a further sum of £293 is goue out of the capital. In round numbers tho

business has been carried on at a loss of £*00 on the year's transactions. This loss is accounted for by depression, competition, bad debts, depreciation in value of stock, or to, ! put it in other words, the association has either cost too much to run or has been selling at prices too low to co\ or the risks enumerated above. In the matter of loss through giving credit, the directors have decided to very considerably restrict this, but we shall be much surprised if the shareholders to-morrow do not go further, and demand that no credit shall be given in any shape or form. Many shareholders, who at the start were of opinion that a strictly cash basis could not be adhered to, have, in the face of past events, changed their opinions, and reali.se that co-operation can only be conducted fairly and successfully upon a purely cash basis. The moment credit in any shape is given, an element of risk is introduced, which ought to be provided for by increased charges, and then comes in the injustice of the good mark paying for the bad one, the great evil complained about in the past, and which the introduction of co-operation was intended to cure, and so it will, if conducted upon one system only — that of cash. The necessity for calling up more capital, also referred to in the report, will not exist if the credit system is put a stop to. A capital of between £4000 and £5000 would do four times the amount of the present business of the association if all transactions were for cash, j Tt is matter for regret that any but j a cash system should have been tried by the advocates of co-opera- > tion in Waikato, for with the enthusiasm that brought about its inauguration, not one of its supporters would at that time have demurred at the strictly cash basis of all its transactions, especially if one of its promoters could have argued from experience that no other course would lead to successful results. No doubt the extent of the business would not have reached its present proportions, but there would have been this satisfaction, that a balance-sheet would have been presented free from many doubtful items. However, experience has been gained and although, at some loss, it is still an easy matter, if the shareholders stick together, to reorganise the association and gain for its supporters in the future, all the benefits promised upon its institution. The great successes achieved at Home demonstrate the soundness of the system, and the rapid growth of these institutions is proof of their increasing popularity. No one but those who have had to do with a large concern where credit is the order of the day can realize the immense relief a direct departure to a purely cash basis means. We can quite understand that a lot of anxiety has been felt by the directors, and a great deal of the time of the manager has been taken up by what is called " financing " for the association. Relieve tho management of this, and you not onl) make a great reduction in the working expenses but what is of for more importance, tlio time and ability of the manager can be devoted to the interests of the shareholders in finding markets for their produce, the absence of which feature in the working of the association has given more dissatisfaction than anything else. It was the assurance of this that held out the strongest inducements to many settlers to join the association. From the first we have strongly supported the principle of co - operation, believing that its application would be to the benefit of the farmers particularly, and through them to the community generally, and we sincerely trust that the shareholders of the North New Zealand Farmers' Co-operative Association will to-morrow decide upon " cash " as the basis of future operations. We feel certain if this be carried into effect that future balance-sheets will be as satisfactory to all concerned as the present one is disappointing.

At yesterday's sitting of the Hamilton K.M. Court, before Mr Northcroft, only a few civil cases were disposed of «. ... .. .... «.«,. -j.

A public meeting will be b.3ld at the Tauwharo school-room on Wednesday next, to consider the advinableneas of holdins; athletic sports at Tauwhare on Easter Monday.

His Eminence Cardinal Moran visited tlio various Roman Catholic schools in Auckland on Tuesday, and expressed himself greatly pleased with the condition and conduct of each.

Mr Bull, postmaster, has obtained three weeks' leave of absence, and has left for Te Aroha and the Thames to enjoy a well-earned holiday. He has been relieved by Mr Salmon.

The annual distribution of prizes to the Sunday school children of S. Peter's, Hamilton, will take place at 8 o'clock this evening in the Public Hall, Addresses will be given by the Rev. T. O'Callaghan, D.1)., and others.

In response to a requisition by the resident* of the district the Chairman of the Te Awamutn Town Board hai convened a public meeting for to-morrow evening at the Public Hall to consider the proposed new time-table.

The Freezing Company hare decided to open a retail branch of their butchering business in Cambridge, and have taken the promises in Victoria-street belonging to Mr McCann, and lately occupied by Mr Webb, butcher.

At the R,M. Court, Alexandra,. on Friday, only one case was heard, that of T. Hughes v. Para Komanga, claim £11 19s fid, defendant's share of certain legal costs. After hearing a largo amount of very contradictory evidence, the bench gave judgment for the amount claimed with coats.

The following are the names of the Cambridge team that will play the return cricket match at Hamilton on Saturday next:— Messrs Park, Ca^o, Hunt, Parson, Fitzgerald, Cowper, Hitchman, Lonj?bott(im, Sharp, Knox, Forrest, Graham and Verity.

The native meeting at Maungakawa has entirely broken up. Having arrived at the conclusion that it is desirable for the whole of the Ngntihnua hapui to nettle together and form a township, it is intended to hold another meeting at Whatiwhatihoe some time this month for another korero on the subject.

The following tenders were received by Mr O'Dwv, architect, yestordfty, for additions to the Hon. Mr Williamsons house at Ruknhia :— W. Thompson, £305 ; 0. Fowler, £350; H. Jonea, £350; R. Spurdle, £347 ; H. Carter, £345 ; Pearson and Warr, £328; Potterton and Jurrett, £293; R. Gracie, £292; G. T. Worthington, £?7*

With respect to the telegram from Cambridge, ru the return match between the Hamilton and the Cambridge cricket clubs, wo are informed by the Hamilton hecretary that there mmt be amue miyftpprnhenaion inCambi idgoanto the date, hs Siiturd «y, the 13ih inst., w.i« distinctly mentioned by him in the challenge, whereas the telegram state* next Satin day, by which data it would be impossible to get together n Hamilton texm.

Capt. Speedy delivered his highly instructive nnd entertaining lecture on Aby»sinia at Cambridge on Monday night to a small but veiy appreciative audience. The gallant lecturer wan frequently applauded, particularly in his impersonations of the manners .md custom* of th.it country. It w:is unfortunate that Monday eit*n ing had been selected for hi« appeiirancq, when the whole tow n wa-> absent on » holiday to Te Arolu. Ca])t. Siwedy's cultured address deseives cm wded hou«.e-., and few will fail to come away without learning Kumcthing they never knew before.

The Show Committee of the Horticultural Society has received a reply from Mr Hud-ton, district railway manager, to the effect that arrangements have been made for running an excursion train from Auckland to Cambridge on 8. PatrickV D.iy. The train will leavo Auckland at 7 a.m., returning from Cambridge at <>.30p.m. The fares will be, Ist class 9s, and 2nd class 6s (id, available for day of issue unly. Tickets will a-ko be issued available for three days, to return by any ordinary train, for 18s Ist class, and 13s 2nd class. Exhibits cannot be allowed to pass free of charge, but Mr Hndmrn will see if returned exhibits cannot he allowed the privilege. The»e facilities uhould bring a large number of visitors to the »how.

A correspondent writes : — The Cambridge exeursionUtH returned to Cambridge on Monday evening very much pleased with the day's outing. They complained bitterly, however, of one great annoyance to which they had been xubjected through the unconscionable lflngth of time, nearly two hours, which they nad to wait at the Kuakura junction before the Auckland tvain joined them. This surely betrays bad management and insufficient foresight on tho part of the railway people. During all that waste of time the Cambridge train could have proceeded alone to Te Aroba, landed its two hundred and fifty passengers and returned to the junction before the other train ani\ed there. There i> an absurdity about the manner in which the New Zealand i ail way* are conducted, which is pitiable in theoyea of welltravelled men.

The following special messages to the Pre*s Association, dated London, March Ist and 2nd, have been published :— Sir Saul Samuel, Agont-Genei al for New South Wales, insists on the Weekly Despatch denying certain insulting charges which were made against Sir Ale*. Stuart at the S<>cnlist Emigration Conference. — The colonial member* of the Chamber of Commerce unite with the members of St. George's Club in banqueting Mr Murray ' Smith. The banquet will t.iko place at Cam- \ bridge on the 7th, the E irl<>f Granville presiding.—Sir Charles Tupper, High Commissioner of Canada, has invited the several Agents-General to discuss with him a proposal to construct a cable between Vancouver's Island and New Zealand. — The' lie*. Mr Gray, of Brmnsgrovn School, Worcestershire, has been appointed principal of the Parramatta High School, Sydney.

We (Herald) understand that 200,000 salmon ora are on board the steamer lonic (which is to arrive at Auckland shortly), for distribution throughout the colony. Mr Farr, Secretary of the Canterbury Acclimatisation Society, came up last Saturday by tho Hinemoa, to attend to the ova on their arrival. We do not believe that the project will bo successful under the proposed scheme of distribution, under which the shipment will be sent in small quantities to a number of different places, from which have been received applications If we mistake not, Mr Farr condemns the scheme of distribution, but is powerless to alter it. The proper way would have been to huve sent the whole shipment to some two or three places in the South, where the conditions most nearly resemble those at home. Scattering salmon ova in. small numbers is simply to lose them. We suppose that political motives may have intervened, and that the Government may be dcMi-ons not to offend any place which has made an application. But this seems a queer thing to do in a case of thi-i kind, when the^objectjs to acclimatise the salmon.

The Assessment Court for the Borough of Hamilton, held its annual sittings at the R.M. Court, before Mr NWthcroft, AbiOMneut Judge ye-.teid.iy. The following c.i<,«^ were lioaid : — M. Yates lot 41, Cook-street, with two cottnees valnatioii £200. sustained ; J. Kno\, Public Hull, £00, and several private allotment-!, valuation sustained ; J. McPher-on, lot 314, Hamilton Kast, valuation reduced from kl to t'2; lot 37, Huniilfcun K.ist, €10, valuation sustained. 0. >[. W. Bui'ton, Comniorcial Hotel, vuluution reduced from £'200 to £188. (I. Sevtim, lot 25(5, valuation reduced from t'lo to t'B. P. Le Quesne, Waikato Hotel, €200, valuation sustained, valuation of i-em.iiuiner p«rtinn l>ropevty reduced from t'l(i2 10s to i'loo. li. Muiray, two ucret. in H.nnilt»n Kxst, valuation sustained. At the opening of the Court, the Town Clerk, Mr Gelling, htated that he had the authority of the Mayor to say that no .uh.intage would bo taken of any technicalities, but that each cabe would be dealt with on its tneiits as the council were de-h-ourf «>f arriving at a. fair valuation. Sever.il of tho ol)jectort., including Mr Km>\, were Ab»cnt through inadvertence.

A Chinese entertainment on a grand scale was given at Cromwell the other day in aid of the local Atheniuum. That thriving district is so entirely void of European talont of tiny description that th« Celestials were interviewed by the local authorities and humbly besought to aw>i»t in getting up j, musical »pree. Of course the Chinese consented, and the result is graphically described by the local paper. The programme was opened with an overture by u Chinese baud in front of the hall. The instruments or implements rather, are described as a pair of huge clashing cymbals and a big gong. A drum improvisedv ised out of a bhutter, and a squeaky instrument of the bag-pipe order, completed the combination. The performers played with commendable vigour until the clouds began to fall in, and induced them to stop. The Cromwell Brass Band came to their assistance, but after playing together # for some short time the Chinese withdrew in disgust, leaving the Europpans in undisputed possession. The Chinamen's efforts were beyond the ranee of criticism, and the whole thing went off to their entire .satisfaction. Solos, instrumental and vocal, were also rendered. A vote of thanks to the Chinese, and a caution from the police, brought a most enjoyable evening to a close.— Tuapeka Times.

The Fighting Fortune Dramatic Company again api»ared before a Cambridge audience on Tuesday night, when there was n good house. The adaptation of Airs Woods popular novel, " East Lyune," was the piece produced, and was hiibtained throughout in a most admirable manner, which had a great effect on the audience. Mr Oscar Balfe as "Mr Carlyle," the hero of the story, was very good. Miss Lizzie Lawrence, in her character of the " Lady I«abel," proved herself an actress of no mean order and jwssessed of great histrionic force. Miss Gertiude Duke as " Barbara Hare," the rival of " Lady Isabel," also displayed excellent dramatic capabilities, and Mr Rede rendered his impersonation of the cool and self-poMfsed villain, "Sir Francis Leveson," in capital style. Mr Marter as the prim old maid "Coruelin," was very amusing. The minor parts of " Dille " the valet and " Richard Hare "' were taken by Mr Pulford and Mr Barlow. Th« drama was followed by some capital recitations by Mr Balfe, given in the Irish, Scotch Mid Lancashire brogue and dialects. The entertainment closed at a late hour with the laughable force of " Chopsticks, " which sent thfl audience away very well pleased with the evening's amusement. Last night the company played again at half-prices the principal piece being "Uncle Tom's Cabin," with negro impersonations and grand jubilee songs.

The adjourned meeting of the creditors in the estate of John Runciraan was held at the office of the Deputy Assignee, the Waikato Times buildinpr-», Hamilton, on Tuesday. The followiug creditors were present, in person, or by proxy :— Messrs Knox, Wallace, Kirkwood, Boyce, T. Walker, Lodder, Sontter, Baggs, Bartlett, Hall, A. J. Forrest, and Capt. Steele. A statement of assets and liabilities also the debtor's statement to the Assignee were read. From the latter it appeared that tho debtor had purchased about 350 acres of his farm at Broad Meadows in 18G5 for*£3 11s per acre; the romaindor he purchased at various tunes at prices ranging up to £7 10-? per acre. In J877 ha nwrt&«& ( > d . tfco property to tty>

Loan Company for £4,000, and in 18S2 to the Accident Ir)*ur.mco Company fur £6000, taking up the first mortgage. Ho considered the land, to bo worth at the present time £10 an acre. About a year ago he bought 1575 -beep from Mr M. R. Miller, of Napier, n* 3s Od per head. In 1882 he lost about £T>oo by lung worm in hi-< sheep, and about £700 over hoitjo laud tran>action.s at Tamahere. He had also spent large Hums of money on Home property near Hamilton, which property had lapsed to the mortgagee through n>m payment <>f principal and interest. The debtor was not subjected to any examination by the creditors present, but the fjllowinjf resolutions were carried: — Proposed by Mr H. .Steelo, (an proxy for Capt. Steele) and seconded by Mr John Kno\, "Th.it Mr Runciman be allowed to r.it.xin his fumitnre, and that tho meeting express sympathy with him, m they consider th it his bankruptcy has not been brought about by any want of prudence or ability." Resolved, '"That the Assignee realise the buikrupt'ri properties with as little delay as poßsiblo."

The following; are the outlines of the English Laud League :—": — " First, abolition of primogeniture, settlements and restrictions in dealing with the land ; second, enfranchisement of all inferior and ciiHtomary tenures, and abolition of absolute manorial rights ; third, compulsory registration of titles, and the simplest and cheapest .system of transfer ; fourth, preservation of commons, foreshores, roadsides, and popular rights over land and water, and restitution of those improper taken away in recent timc»; fifth, enfranchisement of long non-agiicultural leaseholds; sixth, a modification of the law ot landloid and tenant calculated to protect tenants from capricious eviction, and to establish the right of the occupier to all improvements made by himself ; neventh, to promote the occupation and ownership of land by the people for reaidence and occupation, both by general laws and by the instrumentality of municipalities and other local bodies."

It is remarked by the St Stephen's Review, that " Lancashire presents an awkward situation for men who are anvious for the public peace. In the northern portion of tho county alwne there are 1,000,000 Hpindles and 40,000 looms idle, and 13.000 operatives out of employment. This dooa not take in the enormous number <>f unemployed in Manchester, Oldham, Blackburn, Ashton, tttalevbridp*, and otiiei | Lancashire towns. Lot Mi J. Blight, with his one-sided fre? tiado craze, picture t<» himself the tremendous amount of umery which all this represent*. If he is tho Christian man, the man who has the heartfelt sympathy for the poor he is reuresented to have, he will shrink from even the contemplation of tho hardships whicli hii> policy has brought down upon the people. And what does it all arise from ? Millclosed through foreign competition and strikes against reduction* in w«iges. And why reduce wages ? Because the employer* must lower the cost of production if they are to overlap foreign tariffs or pre\ent themselves from boing undersold in the home markets. When a tariff in raised it means lower wages for the English workers. Why do not the Conservatives drive thia undeniable truth home to the heai ts of the new voters ? Because they will not take the trouble to think about it. Under protec tion Germany has increased her production of cotton goods twehefold, and haying a monopoly of her home market, site i* able to sell more cheaply than we can in neutral a3 well as in colonial markets, winch we formerly looked upon as absolutely our own. America is rapidly bringing herself into a similar position.