MONTHLY SUMMARY FOR EUROPE and AMERICA.

Auckland Star, Volume XXV, Issue 237, 4 October 1894, Page 5

MONTHLY SUMMARY FOR EUROPE and AMERICA.

OUBIOME LETTER.

AUCKLAND, N.Z.,

October 4, 1894.

finMttAOT negotiations have taken place LrW the month bebween Mr John Mur,l on bsholf of the Bank of New Zealand, md the Hon. Geo. McLean (Chairman of doctors of the Colonial Bank of New Zealand), for an amalgamation of those institution*. An agreement was finally arrived ab and submitted to the Government for approval. As the terms are given in full elsewhere in today's) issue ib fs"'needless to recapitulate them .here. The. Government sought to impose certain additional conditions which both banks refund to accept, and tho negotiations javfl for the present fallen through. The head office of the Bank of New Zealand has been removed to Wellington, and new directors were appointed at a meeting of shareholders held there on the 27th nit On the same date the half yearly meeting of the Colonial Bank was held in Dunedin, at which Mr McLean explained jb gome length tho attitude adopted by that institution with regard to the proposed amalgamation. Full reports appear in another parb of our summary of the month's news.

Parliament, which is now in its fourth jnontb of the present session, has done good work during the past four weeks. One of the'tnos* important of the Acts paseed by both branches of tho Legislature is a Bill briiigiog the Now Zealand railways under direct control of the Government, instead by Commissioners, as heretofore. The Bill, as originally introduced, proposed to appoinb a Board of Management, consisting of three Commissioners and' a Minister of the Crown, bub the Premier accepted an amondraenb by Mr Pinkerton providing for complete State control of the Now Zealand railways, and ' this'was carried by 36 to 27. The term for . which the present Commissioners were appointed was twelve months, about three months of which period has expired, and the' Government will about May of nexc year Jake over control of the railways, ' allowing the existing arrangemenb to lapaebyeffluxionof time. The New Zealand Consols Bill, introduced by the Colonial Treasurer, Rave rise to a great deal of discussion in the House of Representatives, and ia expected to meot with gome opposition from the other branch of the Legislature. It provides that the Colonial Treasurer may be authorised'by Order-in-Council to receive by way of deposit from persons in the colony such sum or sums as may bo mentioned in such : order, nob exceeding in thewholeone million ' pounds sterling, at interest at a rate not exceeding 4 per cent per annum. Further clauses state that deposits may be made at any timo, and in any amount, either at the Treasury Office,in Wellington or. ab any '©Qlne'y Girder biitee in tb& colony, that 1 jntere^b'shall be payable at'thei same places ~ do Wp Ikb February'and'let''August in' of sf^inay •fib!a;:cb;Bsoir vatid ityya'-'fjrit povySt- of ra^aliri{j with them. Consols created under this Act may. by Order-in-

Council, be declared convertible into stock

issued under the Acts of 1877 and 1884. This Act is to be administered by the Secretary to the Treasury under under the titlffiOfttepißtrar oHnscribed Consols. The Registrar may, with consenb of the Colonial Treasurer, accept Government securities in lieu of cash for consols. A very strict clause designed to prevent the investment of trust money in consols,

declares thab no notice of any trust in reepect of consols or certificates shall be registered or ehall bo rocognised by the Government,. In moving the second reading of the Bill Mr Ward said thia measure was necessary in order to enable people to depbsib larger sums of money than could be plabed in the postal savings banks, which did. not pay interest) on larger auras than £500. The Bill passed ita second reading by 39 to 23 on the Colonial Treasurer undertaking to amend the Bill, so that uny money that may be deposited under the Bill shall be entered in a separate account and laid on the table of the House every year, in fcha Bame way as the Post Office Savings Bank account. The Bill subsequently was pub through its final stages and sonb up to the levising chamber. When the Bill came before the Legislative Council the Colonial Secretary stated that Ministers had agreed toroduco the amount to bo raised under the Bill to half a million, extending over two years. The second reading was carried by a majority of three. Another important policy Bill which bas passed tho Hous6 of Representatives is the Acquisition and Improvement of Lnnda Bill, that fore- . Mmdowed in the Budget having for its . object tho making of bettor provision for tho preparation of lands for settlement, and the acquisition of native lands. It providos that, for the purpoaea of this Act, the fipjpnjal Trgasgror may rsii?e sums, of i; monoy not excbeding a. total of £500,000 either, out of balances in the public accounts or wholly or partly from any bank, '.monetary institution, ,or person.", Power is taken to issue debenburoa for oalf-a-million sterling of a value nob loss .than £100 or more' than £1,000, with-a currency of U years, and bearing 4 per cent, jotpreut payable only within - the colony.. On debentures fulling due, theymay ', be renewed for a further term of fourteen years, mid tho Governor-inCouncil may at J>ny time;.declare, debentures convertible , into stock under tho Acts of .1877 and 1884. One half of the money authorised to bo rawed is to bo devoted to preparation of wowni lands for setclorr.ent by the construction of road?, bridges, and such other works as the Minister of Lands m»y approve of, subject to an annual appropriation by Parliament. Any peiHon raaVi by agreement with the • settle upon Crown.lands for the purpose of cloaririg or otherwise improving tho same, and the Treasurer mny, when authorised by Parliament, make advances to suib settlers oub of the Lands Improvement Account. Any *>eh settler shall have a prior right to license or lease under parb 3 of the Land Aco of Buch portions of the lands improved by him as may be defined by regulations, the yearly renb to be calculated tJpon the unimproved value plus the value of improvements. The *;'" Provides thab a second sum of £.-50,000 shall be applicable for the purpose ofi providing fund 9 for tho acquisition of laoo unde!tho Native Land Purchase Act, 1892, and Native Land Purchase and Acquisition Act, 1893.

•i a j °^ even greater importance is the Advances to Sottlers Bill," under which toe Government propose to raise a sum nob exro«iitig^t i 600 l oe4:» yasraJFa-maximum--interest of 4 per cenfc., to be advanced to wttlers ab 5 per, cenb., plus a sinking fund Of one per cent., which would extinguish the debb in a-period of -36 years; The VQlonUl Treaauret moved ita-second read-

ing in an excellent speech, and spoke most hopefully of the benefits likely to flow from the adoption of "the measure. All of the speakers who followed agreed as to the desirability of reducing the rate of interest on money borrowed for purposes of bona fide settlement, but exception was taken to certain matters of detail, notably bo thab parb of the Bill authorising advances bo bo made up to two thirds of the security. To this the Treasurer replied that only in casos where the security was exceptionally good would advances be made to this limit. A proposal to limit the amount of loans to £1,000 instead of £5,000, was discussed ab length, and was rejected by 36 to 26, it being resolved thab not more than £5,000 should be advanced to any one borrower, applications for loans not exceeding £500 to have priority over applications for larger sums. Ib was resolved to limit the borrowing powers to two years, or three millions in all. Eventually the Bill was put through its final stages and it is now before tho Legislative Council.

The Government Advances to Settlers Bill provides for the creation of a special office under the charge of an official to be known as the Government Advances to Settlers Office Superintendent. _ Tho General Board consists of the Superintendent, the Colonial Treasurer, Public Trustee, Government Insurance Commissioner, Surveyor - General, SolicitorGeneral and the Commissioner of Taxes. District boards a?e also bo beset up throughout the colony in districts defined by the Governor-in-Council. Each board will consist of nob 1e33 than three Governmenb officers when practical. Monies ara to be advanced on first mortgages on (1) freehold land; (2) Crown lands on perpetual lease; (3) Crown land on lease in perpetuity; (4) native land on lease in perpetuity — advances to ba nob less than £50 or more than £5,000. Advances on freehold shall nob exceed two-thirds the value of the security, and on leaseholds shall not exceed ons-half the value. Lesscß* interest advances shall be made for a term of thirtysix and a-half years repayable in halfyearly instalments with interest at five* par cent. The monies from which these advances are to be made, are to be raised and managed by two or more agents appointed by the Governorin-Counoil, and the amount of the loan shall not exceed one million and a half in any year. An assurance fund ia to be created by one-tenth of the monies received as interest, and one per cent, per annum on the amount of the loan being paid over to tho Public Trustee, the principal monies repaid to be held by the Public Trustee as debenture sinking fund. District solicitors and valuers are to be appointed in each district, and shall give their services exclusively to this and other Government departments. Tho valuation fees and solicitor's, fees to bo paid by the borrower are the lowest known anywhere

The Land" for Settlement Bill baa been somewhat mutilated in the Legislative Council, and will no doubt be the subject of a conference between the two Houses, bub after the public pronouncement at the general election in favour of the Government land policy, ib is hardly likely thab bhe upper chamber will insist on the rejection of any of the vital principles of the Bill. In tho Shop and Shop Assistants Half-holiday Bill the Council inserted an amendment exempting from the operation of the Act all shops where no assistants are employed. The Government decline to accept the Bill in this form, and the Bill is now the subject of a conference between the two Chambers. Among the measures' that hayo already passed into law is tho Gaming and Lotteries Bill, one of the features of which is bo reduce by one-third the number of race meetings that may bo held in oach year, and another is a determined attempt..to suppress w.hat'w known as 11tote"' betting.* -In the Criminal Code Bill, Parliament has raised tfie ago of cpngent to sixteen years. The new Licensing Bill ia yeb to be discussed, and gives promise of a prolonged.debate. The session is expected to cloae about the end of October. . , .

The, -Bankruptcy Act Amendment Bill, introduced by the Hon. A. J. Cadman, is designed to protect small creditors againsb tho action of bankrupts, who frequently make private assignments to a large creditor. Ib proposes to provide that any deed of assignment shall be void unless made in favour of at least two trustees who are also creditors, and tbab provision be made thab every claim nob exceeding £5, as well as every debb for wages, be paid in full. The deed of assignmonb must be registered under the Chattels Tranfer Act, and within seven days of its execution. Trustees must advertise the fact, end call a meeting of creditors. Every deed of assignment will be liable to a £5 stamp duty, and must be dated on the day on which it is executed. Every debtor making Buch a deed shall submit to public examination before the court as if lie were a bankrupt. Imprisonment for not more than two years with or without hard labour, is provided as a penalty for ariy offence againsb this Act.

The Insurance Companies' Deposits Bill, prepared by tho Treasurer for the purpose of providing for the depositing of securities by foreign insurance companies doing business in the colony, is a measure of 21 clauses, and ia to bo read along with the Life Assurance Companies' Act, 1873. It is provided that every foreign company carrying on business, or proposing to commence business of life assurauce in this colony shall deDosit £50,000 in cash or approved securities wich the Public Trustee. Foreign life companies with a limited liability are prohibited from commencing business in tho colony, and any such that may be established prior to the passing of the Acb must cease to do buaineea within six months. Foreign fir;e, marine, accident), and other Insurance Companies are each to deposit £10 > 000 in cash, or approved securities, with the Public Trustee when they propose to commence business in the colony, and euch companies established at tho time of bho Act passing shall each deposit £5,000, when the amount assured by current policies does not oxceed £20,000, with an increa3O of £1,000 deposit for every additional £20,000 assured unbil the totaldoposib amounts to £10,000. If any company makes default in complying with 'tho. Acb, 5b is liable to a penalty of from £5 to £50 for every,; day such default continues,' and may be absolutely prohibited from doing business in the colony. The Foreign Insurance Companies Bill wa» considered Jn Committee on October 2nd, and on Mr Ward's motion the measure wa3 amended so as to provide that where policies of a company do nob exceed £100,000 deposits shall bo £5,000, and an addibionalsum of £5,000 for every additional £100,000 unbil the tobal amount deposited roaches £50,000. Clause 4,_ providine that no foreign company with a limited liability shall carry on life insurance, was struck out. Clause 5 was struck oub, and a new. clause substituted, roquiring every fire and marine insurance company bo obtain from tho Public Trustee a certificate authorising the company to carry on such business. Another new clause was added, providing that before such company can obtain a certificate, ibs financial stability must be proved. The Bill was then reported with amendments.

The Government measure to promo be land settlement in small areas In, 'mining districts has just been circulated. It is entitled The Mining District Land Occupation Bill and provides for the Governor-in-Couiioil making regulations for the issue of occupation leases for agricultural, horticultural,, or- pastoral- purposes of reserve*, and Crown lands situated in mining districts. The Land Board is to issue leases subject to approval of the warden. Leases are to^be for 21 years. The area shall in no case exceed 100 acres, and residence on

the land is an indispensable condition, save in cases where the lessee owns a bouse or a residence area under the Mining Act, 1801, when an area of ten acres may be leased with-' out residence conditions.

There are a number of instructive and interesting facts to be gathered from the annual report of Dr. McGregor, Inspector of Hospitals, which has been laid before Parliament. The reporb deals with the year ending March last, a period, we may say in passing, which is likely to compare very favourably with that which will be traversed by Dr, McGregor in his next report. As he himself anticipated when he drew up the document before us, there is every reason to believe that the low prices of our products and unusually bad harvest have had the effect of increasing our charitable aid expenditure very considerably.. Durine the year dealt with there was an increase of £9,597 in the amount expended on hospitals over the previous year, while the charitable aid expenditure wa3 £124 more than it was during the preceding twelve months. The total amount spent under these two headings was £163,677 14s 4d, of which Buni £87,060 19a 5d is set againsb hospitals and £76,49213s 5d against charitable aid. The increase in charitable aid was £124, but as the expenditure on now buildings, etc., in connection with our charitable institutions was £2,768 less than in the previous year, there is in reality an increaso of £2,892. In connection with this increase, which has become a familiar difficulty to our charitable aid boards, ito may bo well here to Btate the opinion of Dr. McGregor on the best method of solving the problem of how to grant outdoor relief, which has presented itself before us more than once with a threatening aspect. " That time is coming," he says, " when no money will be raised by the central Government to be expended in outdoor relief by local bodies, and when all outdoor relief is paid for out of direct local taxation." The revenue and expenditure at Auckland were respectively £7,826 and £7,826; afe Christchureh, £8,737 and £7,682; and at Dunodin, £7,041 and £9,446.

One of the events of tho pasb month has been tho interesting native ceremonial connected with tho death of the late Maori King Tawhiao, Potatatu 11. Although bho Maori • Kingdom' ia now but a travesty of what it once wa?, and tho Kingite eection is a comparatively small one amongst the native population, tho death of Tawhiao and the tangi, or mourning which followed tho old chief's demise, formed the occasion for a great Maori gathering. Tawhiao died ab Parawera, on the borders of the King Country, but his remains wore conveyed from settlement to settlement, through the Waikato, until the cortege, consisting of cloee on a thousand natives, arrived at Taupiri, on bho Lower Waikato River, where the final ceremonies book place. The gathering of Maoris at the tangi \vuß fully three thousand, and was the largest seen in the colony since the great native political meeting at Kopua, on the Waipa, in 1879, when Sir George Groy was present. In all probability such a gathering of the nativo race will uot again occur in New Zealand, and in view of this, the description of the picturesque Maori customs at the Taupiri meeting, which wo publish elsewhere, will no doubts bo found interesting. The funeral, ceremony took place on Wednesday, tho 26th ult., in the tribal burying ground on Taupiri Hill, amidßt great lamentations on the part of the natives, but there is reason to believe that the body of the deceased chief was taken out of the coffin two nights previously, and secretly deposited in a tree or a cave, in a ppot known only to two or three chiefs, relatives of the old King, where it will remain for a year or so, untii tho ceremony of bone-scraping, which will form tho occasion for another big tangi.

Auckland mil very sbofbJY be; in complete, railway communication with Rotorua, andia through train from this city to the shore of that lake, the centre of the thermal 6priHgs district', will be Utn fait 'accompli before the end of this year. Our correspondent at Eotorua telegraphed to us aa follows on Sept. 11:—" Tho contractor's engine reached the Rotorua Station today." This message indicates that tho whole of the rails on the Government line between Auckland and Kotorua have been laid, and that in a very shorb space of time through passenger trains from Auckland will be running right into 'tho centre of tho new township on Lake Rotorua. The station is in the Government township, near the Government Sanatorium, some little distance from Ohinemutu proper. Mr D. Fallon is the contractor for tho final section of the Rotorua railway —Tarukenga to Rotorua —some eight miles in length, and it is stated that he oxpecta to be linhhod by about tho Ist of November. Mr Fallon's contract did not include the bridges or formation, as this work had boon dono in a previous contract. His tender was for the platelaying, ballasting, and tho erection of station buildings, etc. Ib is reported that the line will nob bo opened until the first of Decembor, when the Hon. tho Premier, in -hia capacity as Minister for Public Works, will officially open tho line. In any case the line will bo open righo through to Rotorua by next holiday season, and tourists and others will be able to cover tho 170 miles of railway from the Auckland station to the Hot Lakes comfortably in a day. This will mean an immense benefit to the Hot Lakes district and a great increase in the number of the public who will pa*y a living vi3ib to view the wenders of Rotorua, Tarawera, Whakarowarewa, Tikitore and Rotomahana, and to bathe in the healthgiving hot springs which have earned for that district tho title of the " Sanatorium of the South." The tourist season commences about the middle ol November, so far as Australians are concerned, so that the line will be opened none too soon. Fuburo visitors to Rotorua may expect to find excellent) accommodation fhere. The Palace Hotel has been purchased from Mr W,H, Kelly,.M.H.R., by Messrs "Hancock and Co., and it is to be removed from OliiDsrijutu to tho now township and reerected on a site noar the Government sanatorium. The new hotel will have from 40 to 50 rooms added to it, in anticipation of tho tourist traffic of next summer. Mrs Robert Graham also intends making extensive additions to Lako House, Ohinemutu. With cheap railway fares, thousands of travellers should visit the Hot Lakes during the next holiday eoasou.

At a meeting of the Gommitteesappointed by both Houses to ascertain the date on which Now Zealand was declared a separate colony of England, in order that a day may be officially fixed for commemorating the event, it was decided thac tho 30th of Januarywas 'thai correct day. The reason why tho Committee decided on tho 30th instead of the 29th, which has always been the recognised day in the Auckland Province, was because the flag was hoisted and saluted and tho " proce3 verbal" signed then. It was on the previous day, the 29th, that Captain Hobson arrived at tho Bay of Islands in H.M.s. Herald, and it is because of that fact that that day has been erroneously observed as the day on which New Zealand b.ecame a separate British colony.

The report of the Tariff and Industries Committee, presented by Mr VVm. Hutchison, Chairman, puts an end to any hope that may be entertained that tho subject of tariff reform will bo brought before the House this session. The Committee repeats ita formerly-expressed opinion in favour of reciprocity of Australasian tariffs, and is of opinion that in the interests of the colony a Royal Commission B hould be seb up forthwith to take evidence, go exJbausturely: into the whole question, and report thereon. Lady Glasgow and Captain Preston, the new A D.C. to the Governor, who takes the place of Captain Hunter-Blair, were passengers by the steamer Upolu, which ar-

rived from Fiji on Sept. 14. Accompanying them was Miss Thuraton,. eldest daughter of Sir John Thurston, Governor of Fiji, who comes on a month's visit to New Zealand, during which time she will be the guesb of Lady Glasgow at Governmenb House, Wellington. Lady Glasgow has been away from the colony now "close on five months, and ahe expresses herself as being pleased to be back once more.

New South Wales is following in the footsteps of New Zealand in extending the parliamentary franchise to women. The Legislative Assembly/of that colony, which corresponds with our House of Representatives, has, by the handsome majority of 53 to 13, affirmed the Principle of female suffrage, the proposal, being supported by the Premier (Mr Reid), the ex-Premier (Sir George Dibbs), and Sir Henry Parkea. It is now the duty of the Govornmenb to bring ,down a bill embodying the proposed reform, and there seems every prospect of such a measure passing into law. •.,' , .

Information carefully gathered by the New Zealand Shipping Company, show 8 the exports to the United Kingdom from this colony during a period extending from July Ist, 1893, to June 30bh, 1894, to have been as follows :—Frozen meab, 1,702,407 carcases, the average weight of which was estimated at GOlbs, making a total of 102,144,3891bs of mutton ; wool, 387,231 bales; flax, 14,930 bales; tallow and pelts, 35,777 casks; cases of gum, 34,415; cases of preserved meats, 35,862 ; sucks of wheat, etc., 237,998 ; sacks of oata, 192,654; sacks of grass seed, 19,951 ; tonß of butter, 3,938 ; tons of cheese, 2,728 ; and 4,083 tons bf sundries.

The following are the results of the South Kensington arb examination received by the Wellington Board of Education : — National bronze medal for designs and illustrations of ornament, Florence Broom. National book prize for drawing from lifo, Mabel Hill. Art master's certificate, Mary E. Richardson. This is the fireb certificate of the kind obtained by any art student in this colony. Class teachers' certificate : Ebhol Baker, Sarah Jollie, Elizabeth Bonbow, Mary Newtan, Jessie Newton. Works by tho following were accepted towards competition of arb master's certificate :—Florence' Broome, Kate Lawson, William Rowtree, Mary Kate Richardson ; drawing from models, Alice Perry. Miss Richardson, who has secured the distinction of winning an Art Master's certificate, is a daughter of tho Hon. Richardson, and assistant mistress in tho Wellington School of Design.