NOTES OF THE DAY.

Dominion, Volume 2, Issue 621, 25 September 1909, Page 4

NOTES OF THE DAY.

■ ; -.-..._—_ $. ■ ■ ■■'- To-morrow will be the second anniversary- of the birth of The Dominion. During the pasttwelvo months the paper has progressed at a rate that ha« exceeded the most sanguine expectations. Its circulation'has grown to dimensions that completely eclipse tho : combined circulation of at.least any three, other morning papers in the AVellington ; .province, and its ' influenco has spread ".' throughout tho whole country, and 'is increasing daily. -Never in the .history of Australasian journalism lias a daily newspaper made such strides in. so short a time. It is befitting' in'such circumstances that;the present occasion should- be seized on to s mako acknowledgment • of- the splendid, ' support accorded ; tho : paper, by: the general public and tho.farming community in I ' particular.: It but serves.to prove the contention advanced at 'the birth, of ;tho paper: that there was an urgent necd'for a ■ truly' national; journal—a fearlesslyoutspoken nowspapor, pledged, to' no party, but determined to the best of its ability,to uproot the evil growths in our' political life; and •regarding • always' as its first and. -paramount duty' the advancement of ' the interests of -tho people as | 'a''whole. In,carrying out this policy . it hits come, into 'conflict with.. th 6: -Ward. Administration," and. a. determined and bitter endeavour lias been made to' ' crush the paper. ,Unfair',and grossly improper', tastics : have been used in L this direction;'■,the..whole weight .and influence, • indeed -every ,- means ■■ within the power of Ministers, have:been''drawn'on :tc, damage.,THi. Dominion,,,and to,assist: , its rivals, often'at, the country's'expense. ; But.TuE, Doai'inion is' noithor to bo tor-' •. roriscd by Ministerial threats'nor bought: '. with Ministerial favourßJ- It'has'never , swerved, from, tho lino,of policy .which it , :annouiiced ; .'at.'. Us. .birth, arid fit [■ will, -v continue : to'. figfit''"■.' oh: .':uri-'. [' fiihchingly, ' confident in its ''cause ' 'and; stimulated ,by 'the 'magnificent ' support it has received from'those who,'' •. if'they but .fully' realised'their power; ■ are -fari .mightier,; than. Ministers— • people.- ; v:■';.,-'.';:-' . v l "'.'. '• • : -.. -■;';-

;|. The low jpriob.of Consols, has led to ft question being asked in- the Hduso : : of ('.'(ramons,' and Me. : 0; i J2. 'H. iHobnousE,' Financial Secretary,'to ! the Treasury, 'in ■ replying, • stated'vthiit^jnc 1 of; the obvious reasons for tho. weakness' -wag' the enormous amount of colonial stocks: available for trustee investments./ Unquestionably. the'"area .of selection under tho-Trustee 'ftot,-,1883, has boon so ;widcncd: that there no advantago^tp.bo ..gained by," inse'rting '■in' r prospe'ctuse3' that'" the slock offered .is. a trustee. investment.'-'.' The? competition. of; trustee" securities-'.'is'-* hot' tlio: solo cause, v oi'j !oven . .the; principal jrausc,' of- the weakness of Consols.: Colon-' ial-Government securities-have' hot ; bene-' fifctid ;to any^cxtent^if; at. all. ; .:Tho J''Hian-; rial Times 'of a'recent, date''referred-to the..position of: Consols: as; follows':—"In, spite of cheap: money, a' ■.calmypolitical; si'ttiationj;.and the. of-sink* ing fund purchases the existhig •'quotation is only D| jipints above the [] panic price, of the American financial' crisis; ,;in' the autumn ; of y1907, 'when largo .realisations were made, by .-'credit' institutions as a-' prcoautipnai-yriiioasuro. ,Thc yioM is 'only a iriilo. under.-the'-round'.3.\per cent'., so that there, is• thc : quite unusual -gap r of about 2 per cent. : .between- the 1 rate paid L>''bankers upon deposits 'aild tho return provided by our,.premier .security."- In; accounting ..for'this, it is -claimed .that the onormouS rush>'of -hew. ibsilcs which have .'appealed to tho investor 'ever 'sinco the advent of cheap; money.kayo compotcd most effectually/ with 'those' s'tpcko .which' happen' to -afford. the : lowest .rates. ofyield..; Furthermore,: it.is 'stated -that the public 'taste has of' lateii'un in- the.'.direction of high rates of return and increased risk, as against lower rates of return and prabtically np.'risk. ';. . ■ ,;;:';.:,'.• ■ ;;'"<':/

i-'-'THE railway users, of ,this : island will b6'| glad to learn .that for some, time' J p'asttha : i South Islfmd.rflilway lines, whicli have for years bbcri tho .mpnbi-losdrs;.''of the system,. arc showing' some"'' improvement.: This week's .G^»e;contains,the figures relating to revenue and' expenditure up to August>2l' last, and 'these show that l\\w total'-, revenue . of ."-the , wholc : sjstcnu: ; for•■. tho.-',- first ' -143 days' ..financial ',:,"year. ■ t'i £1,203,273, and tho total expenditure to £838,372.; This- is ''..Vathci\:better 'than for the ■'Corresponding, wriod '"of, 190 l: The revenue from the North Island lines shows an'incrcase of £90,268, and from the Southern 1 lines''£o6,o9B.'.■'-•But .while/the expenditure on the Northern lines has'in-', cieasod, that on the' Southern lines has c.ecreascd. : ,by. a few. hundred 'pounds.,.. It would appear that the economies effected by Mit. .MiliLAn in the' Southern: portion, of the railways -sy.stcm.aro reaUoncs, but of course, one .must;'ri6t.:form'.;any:.confident conclusions .until itlio year is completed. VWo are anxious,' howoveiyto give *lii.';MittAli' air tho credit that is elite to lum/and we;rmist:thcrcforo note that for tlir four weeks ending. August 21-the ekrenditure on tho Southern lines showed a decrease, as compared with .the -previous year, of nearly £9000. Tho .increased by ovor £4000.-,,- In.looking after the Southern lines, however, Mr. Milmk has ullowcd the expenditure, ratio to rise in this island.' -It "is matter, for roioicing p:i the part of'tho; Northern public that the Southern lines aro beginning to look almost as if'.they will hot. cost, us, so" milch as'they hayb been doing for; so many years past.'-','•'-.',-;■'■'-' ':'■"■.}'■ ,■;'■''■''• ,-.-'.:.::^' ; -- ■■■■'■:

j'The adoption.by the local.cricketing fraternity of the district scheme,, in con-' iradistinction,,'to club orickct, marks; an important .epoch- in' the history of the summer sport in Wellington. The district scheme, whereby' a ' city is, divided into sections, ! according to. its physical con-, figuration, in conjunction with the lay of ife l; population,; lias., been':' successfully .adopted in Sydney and other cities," and ■there is;reasoned- hopo : that the Wellington Cricket Association has pursued' the right course in 1 bringing it into operation in Wellington... JJistricb ciuckct, it is contended, is calculated to.inspire that healthy spirit of rivalry..\vhich, is . the breath'.of, lifo to a sport, engendering as it does an clement'of local pat'riotisnrand v interest.in those whoso interest in inter- 1 club, sport might, have, been non-existent 6i' of .tile, lukewarm..oi'dcr;,. At tlic outset of its now .policy,, cricket can fairly,,, lay claim to'a little oxti'.a support from the public, and the present iis :thc time when such' support 1 is most urgently needed and 'of. tho greatest, Valtfo''to-.those who are working'hard to placo the great summer, gouio on a now and more solid basis in Ebxs city.,: