OUR HOME LETTER.

Auckland Star, Volume XXXIII, Issue 8, 10 January 1902, Page 6

OUR HOME LETTER.

AUCKLAND, January 10,

The Christmas season this year has been one of the most prosperous of recent years. Auckland has not suffered to such an extent as some parts of the colony from the low price of wool and pastoral and agricultural products. The gold return for the year is larger than since the earlier days of the Thames field, the timber industry has had a good year, and prices for kauri gum have been well maintained. Apart from the wellbeing of the provincial industries labour has found an outlet in large tramway, water supply, and other works in and about the city. Evidence of the local prosperity has been patent to even the most casual observer in. the large holiday-making crowds at water excursions, on the racecourse, and in the country. The same story of a prosperous year comes from the southern portions of the colony, and ill accords with the circulation of rumours of national financial depression, in the dissemination of which both within and beyond our shores the enemies of the colony at the present time appear to be very active. The members of the Eighth New Zealand Contingent, of 1000 men, are now in the two main concentration camps at Trentham and Christchurch, and the North Island detachment will leave Wellington for South Africa in the s.s. Anglia on the 22nd inst., calling at Auckland a couple of days later to ship horses. The contingent consists of a fine body of men, their stalwart physique having been very favourably commented upon. A hitch has occurred regarding- the command of the contingent, and it is not ytu known who will have the leadership. Lord Kitchener has cabled . o the Premier thanking him for the offer of the contingent, and congratulating the colony on the behaviour of its predecessors.

The Premier made an offer to the War Office t > fill up vacancies in the Sixth and Seventh Contingents. About 100 i *n will be required. These will be chose-1 from men excluded from the Eighth, and will go with that contingent.

The Stock Exchange opened on Monday last after a fortnight's holiday, but the market has so far been yery quiet, though no drop has taken place, while in it few cases improved prices have been asked. Waikis have had enquiry at £6 .4/, sellers asking £6 10/. Waihi Extendeds firmed to 2/10 and 2/11, with further sellers at 3/. Waitekauris have had good demand, selling from 9/ to 10/3. Thames stocks have been very quiet, and there js no demand for Coromandel lines. In investment stocks the closing rates of last year have been well maintained. The publication of the JSJew Zealand Insurance Company's balance-sheet caused a demand for shares, sales taking place at 71/6, cum div and 68/ ex div, with further buyers ex div at 67/6, sellers at 69/. South British changed hands at 78/, and Nationals were asked for at 19/3. Leyland-O'Brien Timber Company's sharea sold at £1 12/, and old issue New Zealand and River Plate at £1 1/6.

At a meeting of the Wellington City Council a motion was passed by which the pending loan proposals in connection with electric tramways, town hall, and wood paving were consolidated. A fresh proposal will be submitted for sanction of the electors authorising the borrowing of a total sum of £330,000 on the security of a special rate of tenpence in the pound on all rateable property in the city, on the basis of annual value, for the term of the loan, thirty years, the money to be appropriated thus: —Electric tramways, £225,000; town hall, £50,000; wood paving, £55,000. The bank will advance up to 50 per cent, as wanted without floating the debentures pending a satisfactory opportunity for floating them. . Another old colonist, Mr. William 11. Pearce, licensee of the Imperial Hotel, Fort-street, passed away on sth January at the age of sixty-two years. Deceased had been suffering for some time from dropsy, and was attended by Di-s. Marsack and Swales. He leaves a widow to mourn her loss but no family, his only daughter having died some years ago. Mr. Pearce was born in Cornwall, where he had some experience in mining. He came to the colonies in 1857.