THE WEEK.

Auckland Star, Volume XLI, Issue 143, 18 June 1910, Page 8

THE WEEK.

Boasxwiosr. The speech of the Chairman ol Directors at the annual meeting of the Bank of New Zealand affords some very pleasant reading. The financial returns for this past year, as the report shows, are fully in keeping with the hopeful prospects set forth by the Chairman at the last annual meeting. The balance-sheet, in. Air- Bsauehamp's -words, "carries on its face the evidence of a- satisfactory financial position, and reflects in almost ever- detail the Bank's continued prosperity and progress." The reserve-fund has been strengthened by £150,000, and bow, including undivided profits, stands at £S*j4:jCoo;..deposits have increased by more than -£2,000,000; - advances and discounts "hWe been - reduced by.- over fact which shows the general improvement in the country's finances; the .assets taken over from the defunct; :.Board are now nearly yextrnguished; and the- net profits for the year's transactions come to the substantial sum of nearly £260,000. It is true that the profits are less than last years profits by some £50,000; but the difference is accounted for by the reduction in advances and discounts sud the increase in deposits^—evidences of the all-round strengthening in our commercial finance, of which the fortunate holders of B.N.Z. shares are not at all "likely to complain. The statistics that Mr. Beau-1 champ has brought together provide { en impressive proof of the rate at which our exports have increased during the past twelve months in; quantity and value. The total increase for IDO9-10 above the previous year is no less than .£4,700,000.- and as Mr BeaucEamp reminds us, we need look no further than this for an explanation of the present plenitude of money for loan ' and.,, investment and the .disappearance of "the financial- stringency -which we were all deploring twelve months ago. It is I true that nearly two and a-half millions ' of the rise in our export .values must be 1 credited to the single item -of Wool; but I in all onr staple products except Timber the rise in export values has been maintained. In four years our Dairy exports have increased-by over a million sterling, I and half of this amount was made up during thei/paSt year. Even in the Frozen 3l'eat~ trade, "which was" for some little time last year in a rather precarious position, the low selling price secured •wider sales, and really acted as an advertisement for our products. .Values rose again toward the end of the year, and in uny case, a trade which can shon , , according to Mr. Bsauchainp's figures, an increase of something like £900,000 in £ye years, and is valued aimually at considerably over three ..millions sterling, is on the-'whole in. a reasonably prosperous condition; '

The interest taken in the result of the by-election for Auckland East was demonstrated by the large crowds that thronged .the. streets on Thursday night waiting for the returns from the various polling booths. The polle closed at 7 p.m., and the final returns were posted at the '"Star , Office a few minutes after nine o'clock, as follows: A. M. Myers (1.L.) 31S0, G. Davis (Lab.) 1087, W. Richardson (P.) 754, K. W. Hill (O.) 309, E. I. McKnigiit (Lab.) 75. These :ng!ires give Mr. Myers an advantage of 2093 votes" over the next candidate, Mr. Davis, and an absolute majority of 955 over all the other candidates combined, his total being 3iSO, as against 2225 polled in favour of the other four seeking election. There ; s no need, as a consequence, for a second ballot.

It is understood that tenders -will be called shortly in Auckland papers for cutting a canal about two miles long in the Puhonga band'of the Piako River. This will afford employment for a considerable number of men. and Trill enable the flood -water from the Piako Eiver to be carried off. This canal is designed to give the Piako river a straight run to the west -of Kerepeebi township, and will shorten the river's coarse by about two ■miles, cutting oil the curve which eweeps round by Kerepeehi. The mouth of the new cut will come out on the river above the Orchard. A considerable body of water will be carried hy the canal, and it should escape much more readily than by the winding river, so that the settlers -who have taken up land in th« •vicinity -prill benefit greatly by this big TTork. Hitherto the water has laid over the country for days when the rivers ere high, and the fact of the Piako being swollen has in the past had the effect of backing up the Awaiti stream on the cast, and this ha 3 caused much flooding. Tie canal is to bs about forty feet ■wide, -affil one'of tie 'big Priestman dredges jis already up the Piako ready for the -work of clearing the channel, Mr -Kensingiwn, 1.5.6- : (Under-Seere-tary fw"'Crq-vrallliiids)-,-3ias returned to •Welling'tim SroSS Whakatana', having visited' the b':g' swamp area in that district. It is SO,COO acres in extent, and is ireld;i>y -Crop-nj tenants: on"the. optional eystem. The Esngitaiki Dra&iigS Board, ihaving found the problem too large financially, succeeded, through Mr McDonald's instrumentality, in getting the Government to undertake the work of draining the swamp,.and rhe.,..work will ■he done :by the Lands Anadmirable outlet can-"be made' to the sea by cutting through the "sand hills opposite Whale Island, -where- the coast is completely protected from bankingup action by the rollers, by the shelter of Wfoale Island, and'by'a large reef running from it to Ra.-urimu islands. The construction of this-<mtietr' ; at-a cost of about £5,000, will lower tie water by six feet. Crown tenants -will recoup the Government by a special rate. When •the scheme is completed, the land will become one. of the richest pieces of counZealand. The; preliminary ■work , of-the scheme is now , in band.

The third son of Mehuta lias become engaged, and -will shortly be married to the daughter of Te Heu Heu Tuldao. the well-known Tanpo chief. Te Hen Heu las presented Mahuta with 150.0C0 aerea of land in the Taupo district as the pakuha, or dowry, of his daughter. The alliance will do much to strengthen Maluta's power, and allay the "concealed antagonism that has always existed between the Arawa and the Xgatim-ahuka. An inquest was held at Taihape on the tody of Isabella Medoll, wife of Alex MeCoU, settler, of Eaitieke, irho was found drowned in a lagoon near the house of her father-in-law at Moa-■whango-road. She bad clasped in her arms a baby, which was also drojyned. ETi<ieaj!e since ier confine._niejrlr in-March deceased-had- been very -depressed. A verdict of- in--sanity''.was returned.-..-' '~.'.'" "..;.;.

Between sixteen and twenty-one distinct, earthquakes were felt'at Rotorua '~between five - and "balf-nast; six on Yved..nesday -morning. -Each "shock -was accompanied "by a low Tumbling noise. Many of the visitors were much alarmed. Shocks somewhat similar "were experienced at Rotonia about sis years ago. iNo damage .was donet

At a meeting of Cabinet it -was decid- j ed that the 'battleship which N ew Zea-! land is prsenting to the British Navy ■ (now being built on the Clyde) is to be named IMPS3IAL. High hopes of a compromise between the two great parties are entertained as the result of negotiations which have been quietly progressing between the leaders for over a, week. Mr. Asquith held out the'olive branch, and Mr. Balfour accepted, and a meeting of these two, together Tvith the leaders in the House of Lords, the Marquie of Lansdowne and Lord Loretum, met and arranged for a general conference next Wednesday. Some papers suggest that the Speaker should act as chairman of •the conference, but the (majority urge that no chairman. be appointed. The Opposition understand tha-t-Mr. Asquith's invitation for a free conference is un-

trammelled by conditions or preliminary restrictions. Mr. Philip Snowden and Mr. Ramsay Macdonald condemned- the ■conference. Mr. Macdonald denied the right of the pront Benches to settle the matter. There were other benches. Mr. C. Martin (the stormy petrel of Canadian politics, who was elected to the H-ouse of Commons at the last election) asked whether, in connection with the conference, Liberals would te committed to a change of policy without the Government first consulting ite supporters in the House of Commons. Mr. Asquith said it was useless for the Government to cuter into a conference unless it cou'.d rely, as he believed it could, on the con- ' fidence of its supporters. Lord Kitchener has declined to proceed to the Mediterranean to accept the High Commissionersliip. The post was devoid ■of real power, and was not one which, in the opinion of experts, Kitchener should have been asked to fill. Mr. Haldane (Secretary of State far War), speaking in the House of Commons, said he greatly regretted that Lord Kitchener did not desire to assume the appointment in the Mediterranean. The appointment, in Kitchener's hands, would have been subject to certain modifications and additions. The name of the holder of the post would be announced shortly. ■ The first official announcement upon the accession oath was made by Mr. Aequith when he stated in the House of Commons that the Government intended at an early date to bring in legislation modifying the King's declaration regarding the Roman Catholic faith. llr. L. C. Amery, of the "Times," addressing the Colonial Institute, said the present system of Imperial Government, based on the supremacy of the United Kingdom, cannot last. A single foreign defence policy for the whole Empire with a single responsible administration was essential for the future well-being of the Empire. It was, said Mr. Amery, impossible to utilise the existing Parliament lor the formation of an Imperial Assembly, as this was contrary to the principle of equality of political status upon which the overseas dominions insist as a condition, of any form of union. The imperial Conference wae, however, said Mr. Amery,_ a possible nucleus of an Imperial Parliament, and the supreme importance of the Imperial Conferenc-e as the highest assembly in the Empire should be recognised by vesting the King with the foreial presidency of the Conference.

The South Polar expedition, under Captain Scott, has sailed in the Terra Xova from Cardiff, where she went to load her coal stores, for the Cape, Australia, and Ivew Zealand. The Terra Nova sprang a leak during her voyage to Cardiff, but this was <but slight and did not delay her departure. The expedition was enthusiastically farewelled. Mr. Douglas Mawson, of Antarctic fame, who arrived in Sydney by the Makura, statee that Sir Ernest Shackleton will next year lead an Australian expedition to scientifically explore the unknown coastline lying directly south of Australia. Mr. Mawson will be in charge of the scientific work, and states that before leaving England for his American lecturing tour Sir Ernest Shackleton approached two Australians in London, who promised £ 11,000 towards the cost of th-e expedition. When he returns, Sir Ernest ■Shackleton will proceed to raise the balance necessary. The capital required will, be between £20.000 and £40,000.

South Africa having formally invited the Duke of Connaught to open the first Union Parliament King George has assented. The Duchess of Oonnaught and her daughter, the Princess Patricia, will accompany the Duke. The elections will toe held early in October, and Parliament will be opened about November 4. Mr. Louis Botha, in a speech at Pretoria, declared the Government policy. They hoped that the old' party organisations "would be-dissolved and amalgamated into a great -South African National •party-"ior the. promotion of the spirit ofVunion. . There would be sympathetic -treatment of natives, encouragement to the white population, prevention of Asiatic immigration, and a broad educational policy acceptable to all. Anyone daring to call from death's valley the skeleton of the unhappy past would be an enemy to South Africa, and a gTeater enemy to the Empire. FOKBIGN AFFAIRS. Great storms and floods have caused damage i-otalling millions of pounds, and cost many hundreds of lives within the past week. The Ahr, a tributary to the Rhine, overflowed and drowned nearly two hundred in one day, while the ..next ..day a bridge over the river collapsed, and 150 people -who were watching the floods were drowned. In other parts of Germany 150 lives were lost, while torrential rainstorms in Austria caused great dnmage. A cloudburst in Hungary caused enormous losses of life and property, 259 bodies being recovered from amid the ruins. It is feared that many more have been drowned. Governor Gillette has issued instructions to prevent the match between Johnson and Jeffries being fought in California. He states that prize fights are criminal!, but sparring exhibitions are lawful, even if they come to a conclusion. Tex Packard, one of the promoters of the fight, has replied that if Governor Gillette opposes the meeting of Johnson j and" Jeffries in California he will take fhe fight to Salt Lake City or Nevada City. The principals have agreed to sell the rights of the moving pictures of the fight for £30,000, the fighters taking £10,000 apiece, and Messrs. Packard and Gleason £10,000. IN -'TB33' -'_ CO333ffONWBAI.TH. Football /has: bulked :. largely, in the Com:nbnw.ealth. this 'week. Th'eJNew Zealand Rugby team, won its second match by 17.points,to 11, while the Maori fif.teen drew with th'eJSTewcastJe union after an interesting- game. The match under Northern Rugby rules between New South Wales and England dosed with a melee after one of the visitors bad !been ordered off for striking an op-, joneni.

The schooner Lessie was wrecked on the New Guinea coaet, with the supposed loss oi about 20 lives. She was caught in a sudden squall and capsized. Six members of the black crew kept afloat on the wreckage, 'and were washed ashore.

A tragedy occurred on Wednesday in a street in the centre of Roekhampten in •the presence of a large number of people, who had assembled foT school prize day. A well-known amateur jockey namedDavis fired a revolver at a man named Hett, who -was standing talking to some friends in a bnggy. Davis then went up to the buggy and fired, and shot in the back 'Emily Salisbury, aged 23. Hβ then rushed round to the front of the trap and fired two more shots at the girl's breast, killing her. Detective Seymour rushed Davis, who attempted to fire on the officer, but the weapon missed fire, and the murderer was arrested. Jealousy is supposed to be the cause of the crime.