The Waikato Time AND THAMES VALLEY GAZETTE. Equal and exact justice to all men, Of whatsoever state or persuasion, religious or political. TUESDAY, JUNE 16, 1891.

Waikato Times, Volume XXXVI, Issue 2952, 16 June 1891, Page 2

The Waikato Time AND THAMES VALLEY GAZETTE. Equal and exact justice to all men, Of whatsoever state or persuasion, religious or political. TUESDAY, JUNE 16, 1891.

f Mai roudci's iiro doubtloss n/.viU'O, that for sumo yotus past, pcrsistont attompts liavo been made by the colonial authorities in England to ]ntvo colonial Goverumont soeurities included m tho list authorized for the investment of Trust Funds. That such a step would be benolicinl both for tho colonies and for those iuterostod in the various (.rusts, has never been questioned. We reprint from the British Australasian some extracts from a pupor load by Sir George Badeu-Powoll, before tho Institute of Bankers in April last, in which that authority sots forth all tho negotiations and attempted legislation on tho subject during tho last three years, and also showing tho great necessity that exists for enlarging the list of such securities, In referring to tho obstacles in tho way of including colonial Goverumont inscribed stocks in tho ol'licial list Sir George says : " Those who have followed the subject aro very well aware, that while thero has been much endeavour and wish to place these securities in the position due to tliem, two obstacles have hitherto blocked the way. The one obstacle has been the absence of means for holders to enforce claims for interest or repayment by means of the English Courts. The second obstacle was the fact that there is no litni'- to the issue of colonial loans. Practically there is, of course, no Treasury or Local Government Board to supervise and restrict, as there is iu the case of t.he local loans in the Old Country. Both these obstacles have been put forward by the highest authority; both were recognised as most serious in the way of practical discussion Oil the subject at the Colonial Conference in ISS7. Tho first of these obstacles is absolutely removed because all the colonies have expressed ready willingness to take any steps necessary to protect stockholders' interests. This I was able to announce in the House of Commons in June, 1888, in the words : ' Every Colonial Government has oftieialiy expressed its willingness to take such measures as will render the Agent easily sueable in England iu respect of the interest or repayment of loans.' But it. appears to take years beforo the Government or indeed tho public can properly grasp even tho elements of tho situation. However, now the Departmental Committee has expressed its full, final, and complete approval of tho means suggosted by removing this first obstacle. The second obstacle—the practical objection iu regard to there being no limit of issuo—has also boon long ago taken up. It was shown, indeed, that such anobjoction oxisted in rogard to all other stocks, while oven conversion schemes nearer home have been known to reduce by oue-sixth tho incomes derived from trustfunds. Tho trustee, it must bo rememborod, is not bound to invost in those stocks, but morely empowered to do so if he sees fit. A practical remedy was soon seen to exist iu somo automatic rule, limiting suclt investments to such stocks as maintained a certain rank on tho London Stock Exchange. Tho independent judgment of that arbiter of world-wide values, lias to bo closely regarded by all would-be borrowers, and now tho Departmental Committee reports decisively in favour of an automatic rulo, that such investments may only be made in such colonial sesurities as do not at purehaso prico yield inoro than 1 per cent, por annum iu dividend over the diviuoud yielded by consols of similar amount at tho time of investment. Tho now proposal has the great advantage of boiug automatic, simple and general."

Tho objections, as Sir George Baden-l J owoll points out, have hitherto been that creditors of defaulting colonies (only there aro no defaulters) would not have tlie power to sue iu Euglaud, and that Parliamentary sanction way not required thero, as iu tho case of local loans and Indian stocks, to allow of fresh issues of colonial Government stocks. But so long as tho colonies borrow for reproductive works, and have British notions about the inviolability of national credit, ihoro is really nothing to fear ; indeed many of the securities now authorised as trust investments aro not so sound as those of tho colonial Governments, now cxcludod from tho list. It is very discouraging. however, to learn, as we do by 1 ato cablegrams, that iu couseijuonco of tho state of tho la to money market, and the recent failures of colonial loans, tho Financial News and other English newspapers aro arguing that Parliament should reject tho Trustees Liability Bill, which provides for trustoes investing in colonial stocks.

Sir Charles Dilke has accepted the invitation to contest tho Forest of Dean seat. Gold payments in the Argentine Republic have been suspended for six months. Tho Postal Congress has fixed tho fee for international money orders at 1 per cent, on tho value sent. The wheat crop in the United States is estimated to afford a surplus of two linndred million bushels for export purposes. James Forrier, an old man who was admitted into the Hospital about a fortnight ago, died on Sunday morning fioni general debility. We are pleased to hear that the Asylum authorities hold out hopes of Mr Ksh's speedy recovery, though at present he is labouring under great excitement. Operations at the Whatawhata butter factory aro rapidly drawing to a close for the season, the daily supply of milk now being less than a hundred gallons. Thursday next, not Tuesday, as stated in i paragraph in Saturday's issue, is the day on which Sir Walter Duller will address the electors of Te Aroha at Cambridge. New Zealand long-berried wheat in London is 13s (id ; market weaker. For New Zealand wheat on passage sellors are asking 12s, but buyers will nut give more than lis Gd. A number of stalwart young men arrived in Hamilton yesterday by the Auckland train having been engaged to work upon somo of tho bush falling contracts in tho Raglan district. The National Mortgage and Agency Company, of Nuw Zealand, iias declared a dividend of 5 per cent., and the New Zealand Loan and Mercantile Agency Company a dividend of 10 per ceut. Ships conveying aliens to Great Britain are examined by the authorities, as it is alleged the owners and masters make falso declarations of the number of passangers, in order to escapo the penalty of £100. Mr Bell, of Huntly, who was admitted into the Waikato District Hospital on Thursday, suffering from pneumonia, was removed to tho fever ward on Sunday, symptoms of typhoid fover having since broken out. There were nine tenders for the contract called for by Mr Storey for falling about 100 acres of bush at Waiinana, Maungatautiri. Messrs Clark and Johnsoli, of Hamilton, being the lowest, their tender was accepted. In consequence of the large number of horses to be offered, tho flour at which Mr J. McNicol's special horse sale at tho Hamilton Borough Yards will begin 011 Thursday next has been altered from 12 noon to 10.30 a.m. sharp. The adjourned meeting of the Hamilton Borough Council was hold in the Chambers last night, when there was a full attendance, his Worship the Mayor (Mr Isaac Coates) in the chair. A full report will appear in our next issuo. Tho frosts experienced during last Friday and Saturday nights were the sharpest wo have had this season, the whole country assuming a mantle of whit). On the Waina flits the ice lay along the shady side of tho roads all day unmolted. Active steps are being taken by some of the influential settlors in and around Whatawhata towards erecting a Public Hall ill that township abeady sufficient money has been promised to pui chase sufficient timber to erect a hall 15ft by 22ft, and the Government has been applied to for a suitable piece of ground for a site. The late cold and damp weather seems t.vhave produced an unusual crop of coughs and colds. From all quarters we hear of sufferers, young and old, being alike attacked. In the Waipa district we understand that whooping-cough is rather prevalent at [.res-tilt. A little dry weather, even if accompanied by frost, would be a welcome chatitje.

Wild pigs seem to he getting numerous on Messrs Williamson Bros', Rukuhia estate. Qiiite recently we noticed a considerable amount of rooting done by the pigs at the Tuhikaramea end of the estate. These gentry are likely to become troublesome in the lambing season, and, once they acquire a taste for lambs, much damage may be done in a very short time. We would draw the notice of our readers to the special sale of furniture advertised to be held by Mr J. McNicol at the residence of Capt. Owen, at Cambridge West, on Saturday lltli prox. Tho furniture comprises the contents of drawingroom, dining-room, three bedrooms, hall and kitchen, and the list includes articles of a descriptian uot often offered in Waikato. The Oddfellows of Cambridge are tho only brauch of this fraternity in Waikato that keep things going. The various other lodges that in former days were to be heard of in each township seem to have dropped out of existence. The anniversary ball in connection with the Royal Duke of Cambridge Bodge will bo held in tho Public Hall, Cambridge, on Thursday, tho 25th iust. On Saturday last the members of the Hamilton Light Infantry fired the last range (500 yards) in tho competition for the Hamilton IJelt. Private T. Pearson, the last holder of the belt again proved the winner, with a score of Hi; Sergt. Alexander coining second with the same score but having a larger number of misses than Pearson, ho had to be content with second honours. Private Hobbs was third man. We hear a requisition asking Mr Lemuel J. Bagnail, of Turua, to contest the To Aroha seat, was started at Cambridge on Saturday, and that tho names of fifty voters have already been obtained pledging themselves to support his candidature should he consent to stand. From another source we hear that Mr Daguall has promised to contest the seat if the requisition is considered sufficiently .cucouraging. We have heard of a shipment of apples to Frisco' which has turned out anything but satisfactory for the shippers. The apples sold for fivo shillings a case, a result which entailed a direct loss of one shilling per case over and above the loss of the fruit and labour in packing. It is only fair to say tlut tho fruit arrived m a damaged condition having been shipped as ordinary cargo. The American boats have not been as yet provided with cool chambers. Football prospects are brightening at Cambridge, and wo have every reason to believe that a good team will yet be found to do battle this season, A meeting was held on Saturday evening when a good number rolled up, and it was decided to have a scratch match next Saturday afternoon in the Government paddock. Play will commence at 3 p.m , and all interested in the grand old game are invited to bo present and take part in it. There are plenty of players in the neighbourhood, and if they will roll up a really good team may easily bo got together, for there aro one or two who cau "speel,"as well as a number of good forwards. Fred Burt, who was ono of the smartest lads that ever attended the public school, is iu Cambridge again, and he and Light would mako a couple uf half-backs that would be hard to beat. Roll up, footballers, and get some of the superfluous flesh off you. Remember, Saturday next at H p.m. The wife of a A North Auckland settler souds us the following " Sir,—l should like those of the public who suffer as I hue done, to know how greatly they may benefit by placing themselves under the skilful treatment of Dr. Wilkins. Twice he has been the means of saving me from blindness—once about four years ago, and lately by a successful operation on tho other eye. Thankful as I am to have escaped from blindness, 1 am still morn thankful that I am entirely cured of that awful disease epilepsy, from which I endured indescribable suffering. I was a victim to it for above IU years, though 1 was constantly under medical treatment. I )uring tho period mentioned I sought the advice of eight doctors, including that of Dr. Russell Reynolds of London, but gradually becamo worso, until I came to the last stage, when the attacks are followed by fainting fits. And yet in this the last stage, when all these remedies had failed, 1 was cured. I trust that Dr. Wilkins will be rqually wiccessful in hundreds of cases. [ feel assured that none need despair it they will only strictly follow Dr. Wilkins' directions. I may say that! had persevered thoroughly while iu England with all the remedies, which failed to cure me, I hope that many may, like inysolf, bo induced to try unoe more."