Evening Post. MONDAY, SEPTEMBER 2, 1895

Evening Post, Volume L, Issue 53, 2 September 1895, Page 2

Evening Post. MONDAY, SEPTEMBER 2, 1895

THE BANKING CRISIS. ♦ Although the Banking Bill has a final ordeal yot to enduro, it may reasonably be assumed that it will paas into law before tomorrow morning. This will lessen the tension which has been so intense in all business circles sinco the necessity for extending fnrthor assistance to the Bank of New Zealand was first announced in Parliament. All that can be said for the arrangomont embodied in the Bill is that in attempting to mako the best of a very bad job the lesser of two evils has been ohosen. No one who understands the snbjeot can say anything more favourable. Those who, liko the Premier, profess to see in the arraugomont a. final and satisfactory settlement of the difficulty are evidently qnite inoapablo of comprehending its real nature and extent. They apeak from the depths of tboir ignorance, and speak from wishes whioh

stand in paternal relation to the valueless cor.oln'ions they announce with bo much cackle. No thoughtful man at all acquainted with tho public and private finance of the country will for a moment flatter himaelf by the thought that the settlement now arrived at is final aa between the Bank of New Zealand and tho colony. Great as are the liabilities v-iiioh tho latter haa undertaken, it is morally certain that they will yet have to be increased before tho final settlement is arrived at, when it will have to he determined whether the colony will take over the Bank with all its imperfections on its hpad and oontinue it aa a State institution, or whether it shall be wound up and the colony face the loss involved by futi'e efforts to assist it. What has happened thia year is the natural soquence to what took place last year. The mistake then made was not so much in the assistance rendered as in tho pretence of security taken. It would have been better to have given the two millions outright without interfering with the control of the Bank. Tho Minister of Education might have warned his non-classical colleagues of tho necessity for extreme watchfulness when the Greeks bring gifta. It ia now perfectly apparent why Mr. John Murray — a Greek of prowess, who mot with no equally strong antagonist on the Ministerial benches — so readily consented to tho Government appointing President and Auditor and romoving the head-quarters to Wellington. So-far from being a security, these things, aa Mr. Murray was sufficiently astute to poroeive, simply fastened upon tho colony the absolute responsibility of sustaining the Bank at any coat. We pointed thia out at the timo, but, of course, the Bill was rushed through tho Legislature so rapidly that no time waa permitted for criticism while criticism could be of avail. It was this assumption of control which irretrievably linked the fortunes of the Bank to the colony, and committed tho latter to stand by and see it through, no matter how many millions it might cost to do so. The colony has now this year honourably aoknowiedgod and faced this liability, present and prospective. It will, we feel confident, yet have to pay a good deal more on aooount of the responsibility it has undertaken. With the question of who is to blame for the colony being thus committed to unqualified support of the Bank, we will deal hereafter. We have abstained . from doing so during the crisis, because we recognise the danger of awopping horses in mid-stream. In the presence of a common enemy recriminations are nseloas. AH muat nnite to secure the common safety. Fortunately for the colony th a House has recognised this, and the bank businoss has not been dealt with on Party lines. The Government could never have carried its proposals without the aid of Captain Kussell, tjir K. Stout, and others who, influenced sololy by patriotic motives, aank political differences, and aided Ministers to escape from the difficulty by supporting what they deemed the least dangerous of the alternatives presented. _ But the orisis past, there must be, as we pointed out last year, full enquiry as to whose is the responsibility for its ooenrrenoe. It would have been woll had this been sheeted home last year. It will, we trust, be done thia year. When we speak ot the crisis being past,- we must, of course, bo understood as spoaking only of the present. Some day in the future there will be even a more serious orisis to faoe. Even for the present aesaion the matter will not finally end with the passing of the Bill, The whole subject will be re-opened when the agreement for fusing the two Banka cornea before the Houae There will then be fierce debate, and it will bo on somewhat different lines from the debate on the present Bill There is no doubt that a very strong feeling exists against tho proposed amalgamation. It ia a feeling based on suspicion that all is not straight and above-board, but that some people aro working points to their own personal advantage. No doubt the former relations of Mr. Watson with the Colonial Bank, the Hon. George M'Lban's position, and the Colonial Treasurer's private business relations with one of the Banks, all tend tc afford some ground for a certain degree of distrust in morbidly suspicious natures. The extraordinary transaction by which J8150.000 was taken by the Treasurer from one Bank to lend to another has intensified this distrust, and extended it to many minds which would otherwise havo scouted suspicion. But we fail to see that these things justify or excuse the attitude taken up in tbe Houso by a certain section in opposition to tho policy of amalgamation, and wd regret that this question is to bo treated otherwise than aa a purely business transaction. Parliament is about, the last body in tho colony capable of fairly oritioising, judging, or dealing with suoh a matter as the details of the purchase by one Bank of tbe busine&ii of another. It would have been far better to have left those to the partien directly interested. We have every confidence in Mr. Watson as a loyal officer of the colony whioh he represents on the Bank of New Zealand Board, and his knowledge of the Colonial Bank business may be an advantage rather than the reverse. The directors of the Bank of New Zealand are shrewd, able men of business not likely to be influenced by any politioal considerations, and the last men in tbe world to be led into a bad bargain. That they would connive at anything improper cannot for a moment be believed. We see no reason to fear the Hon. Gko, M'Lean, clever financier aa he is, and we do not think that the Colonial Treasurer's private business relations with one of the contracting parties will be uaed or permitted to influenoe the terms of amalgamation, one way or the other. Amalgamation will be for the benefit of the colony, as it will give the Bank of New Zealand a ohanoe, however poor, of pulling through without further assistance. The only thing we see which there is likely to be reason to regret in amalgamation is the number of officers who will necessarily be sacrificed and thrown out of employment. Sincere sympathy for their misfortune alone interferes with the satisfaction which we should otherwise feol at the fusion of the two Banka. It ia to be hoped that things will be made as easy as possible for those who have to retire. Our report of the debate iv the Houae of Representatives on the third reading of the Banking Bill, with particulars of the Auck-land-Wellington Football Match, will be found on the fourth page. The General Poat Ofiioe has been advised that the R.M S. Mariposa, with the English mails of tho 10th August, left San Francisco on 22nd August, time-table date ; and that the Monowai, with the colonial mails of the 10th August, reached San Francisoo on the 30th August, one day late. The gate-money taken at Newtown Park on Saturday amounted to .£ll2. Thiß morning the Secretary of tho General Poat Office reooived the following telegram from the postmaster at Taupo : — " We are still having a few oarthquakes, but Tongariro is steaming up merrily, and this has relieved people's minds. The hotelkeoperc have nearly obliterated all marks of damage, and everything ia now 0.X." A correapondent wires to the Press Association • — " The report of the 27th ult. as to the earthquakes in Tokaanu was exaggerated. There were a good many slight shocks on that date, but there have been none since. Nono but a few timid people feared that the bottom would fall out. It ia likely to last as long aa ever it waa." The Bankruptcy Court did not sit thia morning aa waa intondod, and the motion to be made by the Official Assignee to set aside settlements, &c, mado by Charles Collier, wool-classer, stands adjourned for a week, there being a probability of aottlement. We have reoeived a oopy of " The Gothic Gossip," a newspaper published on board the Gothic on her last homeward voyage. It was edited by Canon Diggons, aided by a sub-editor and an assistant sub-editor, and the Rev. L. M. Isitt and Mr. P. P. Peireon wore tho publishers. It is full of amusing, interesting, and instructive matter, and its issue must have helped to wile away the tedium of tho voyage most agreeably. The case of Spurway v Sullivan and Lambert, commenced in the Supreme Court last Thursday, is still going on. The plaintiff has not yet finished hia case. Mrs. Jessie Fulton writes to us making an appeal to the oharitable on behalf of a man named Thomas M'Lean, now an inmate of the Hospital. He was a ship's carpenter, and met with an accident in this port by which hia left arm waß seriously injured, ao that his hand is still useless and ho is unable to work. He haa a wife and four children in Glaagow, and desires to return there, but has no moans Mrs. Fulton says subscriptions wi!i bo received by tho Key O. Fitzgerald (Newtown), Mrs. H. Pritchard (Cour-tenay-plaoo), or herself. If the man was loft behind in hospital by hia ship, on whioh he was on the articles for a round voyage, the ownors can, we imagine, be mado to provide him with a passage to the port of Bhipmont. Tho adjourned oaae as to a nuisance on premises in Courtonay-plaeo came up in the Magistrate's Court this morning. His Worship said the place was a filthy, disgusting den, but aa no one of the four tenants waa actually the occupier of the yard in question, he must hold tho landlord reaponsible. Ho therefore dismissed the ease against tho four tenants, Ellen Williama, James Wallaoe, Richard Goss, and Emmanuel Muniz. We have roceived from the Department of Agriculture a copy of the leaflet just issued giving the list of dairy factories in the colony j and from the Girla* Friendly Society a copy of itß report for tho year. Mr. J. B Blair loaves for Nelson and the West Coast by the Wainui this evoning on business connected with the purchaao of gome mining proportion. He will be absent for about a month. An enjoyable programme of mnsio was played by Jupp'a Band on the Thorndon Esplanade yesterday afternoon. Tho oollaction in aid of the Garrison Band's exponsoa in attending tho Timaru Band Contest rcaliaed £3 10a. The practice carried on by shopkoopors and importers of unpacking poods upon the street roceived a check this morning in the Magistrate's Court. Mr. George, of George & Kearsloy, Lambton Quay, waß ohargod with having obstructed tho stroet by loaving cases by tho side of the footpath. Defendant pleaded that no facilities such as n'srhts-of-way, &0., oxisfcod in thia city. Hia Worship fined him 40s and costs 7s. In a similar oaso against M. P. Cameron, of Camoron & Christie, Lambton Quay, tho defendant was fined 5s and 7a costa. During tho steamer Hoskoth's paaaago from Greymouth to Lyttolton last weok one of horebafts broke Bcingatwin-sorow stoamor aho waa ablo to mako good progress with one propoilor. She will not be ready for sea until about the 10th inst. Mr. Leonard Hughoa, son of Mr. Henry Hughes, of Wellington, has passed the examination entitling him to the degree of M.R.C.S., England, and i 8 about to beoome Houae Surgeon to ono of the principal Hospitala in England. The membership of the Wollington Provincial Industrial Association haa increased to G2. Tho first general meeting ia to be bold in tho Chambor of Commerco tbia evening.

Mr. J. E. Wearne writes tbat ho did not report to tho City Council that there was gold at Baker's Hill in fairly payable quantities. What he did report was that up to that date there waß no quartz lode opened Buoh as gold is generally found in, but the prospects got were good enough to induce further prosecution of prospecting works, and that these could, with care, be carried on without injury to the Waterworks Reserve. Tho statement of Walter J. Newton, engineer, who has been adjudged bankrupt, shows that his debts to his unsecured I creditors are £114 19a Id, and to his secured creditors £119 2s. He has no assets. Tho chief unsecured creditoi-3 are— G. E. Jansen, £31 15s; C. H. A. Henderson, £28 15s ; Axel Newton, £14 6s ; Veitch & Allan, £8 Is ; and E. W. Mills &Co , £7. The only secured creditors are — E. W. Earp, Tftwa Flat, £75, secured by a bill of aalo ovor the furniture and tools of tho trade ; and Henry Blundoll, clerk, £41 2s, secured by a mortgage over a lathe and lathe tool a, ostimated to produco £10. A mooting of eroditors will bo held on Thursday at 11 a m. Tho boy J. Jenkins, who was lately remauded iv order to allow hia parents to send him up country, appeared again this morning before Mr. Martin, S.M., and aa arrangements had been made to place the boy on a farm, His Worship ordered Mr. Jenkins to enter into a bond of £5 to produce his son when calltd upon. Sarah Aldridge, for drunkenness, was remanded till Tuesday, on her promise to leave the city. B. M'Manus, who was defended by Mr. Jellicoe, waß charged with having been druuk while in obarge of a horae and cart at Petone. As the evidence for the proseoution showed that the man waß not drunk, his Worship dismissed tljo ease The two stowaways J. Johnson and R. Miller, who came by the Anglian, were each fined 40s, with the option of going to gaol for seven days. A lad naned C. Cheanry was fined Is with 7s costs for driving round a corner at more than a walking pace. H. Brown was fined 53 with 7a costs, and R. Needham 5s with 133 costs, for breaches of tho Vehicle By-laws. Needham said he would rather go to gaol than pay, bo the Magistrate made the alternative five days' imprisonment. F. E. Martin, summoned for failing to support hia wife and ohild, was ordered to pay 10s a week towards the support of the ohild, the order being conditional on the mother allowing him access to the ohild. Mr. Travera appeared for the complainant and Mr.* Jellicoe for the defendant. A. S. Lockhart pleaded Guilty to having obtained £4 from different hotelkeepers by means of valueless oheques, and was remanded till Wednesday for enquiries. Carrie Hope, oharged with the theft of £1 from Sam I'oy, at the Lower Hntt, was remanded on bail till next Friday, and Thos. M'Clusky, charged with' having reooived the money, was remanded to the same day. Edward Doble, remanded from Saturday on a charero of vagrancy, was discharged, as ho bad found employment. Mr. J. G. Wilson recently presented a petition to tho House of Representatives from a number of residents at Judgoford, near Pahautanui, for a post office. A reply has been sent to the effect that " arrangements are being made to open an office as desired by the petitioners." The mails brought from Australia by the Manapouri this morning are expected to come from Auckland by the Takapuna tomorrow afternoon. The Auckland footballers left for Nelson by tha Muhinapna last night, and received a great aond-off On Saturday night they were entertained at the Trocadero and yesterday afternoon they were taken for a drive. Jeremiah Driscoll and Harry Poulson, two of the men arrested last Friday for vagrancy, were to-day sentenced respectively to six and three months' imprisonment. Thomas Reardon was remanded till to-morrow. On the voyage of the barque Grace Deer, ing from New York to Wellington, fearfnl weather was met with from the time of passing the Cape of Good Hope almost till arrival in Wellington. The seas smashed the cabin door and skylight, flooded tho cabins, and washed the second mate out of his berth. The oibin was full of water, everything floating about iv confusion, and at one time all hands were musterod below to bale out. A quantity of loose fittings was washed away. Several of the officers never had their boots off from the time of passing the Cape until the vessel dropped anchor in Wellington. In reference to the case of the girl Helen Barnes, who was before the Stipendiary Magistrate's Court last week on a charge of having been found in the house of reputed prostitutes, Mr. Jellicoe stated in Court today that the people with whom she had been found resented the imputation of ill-fame oontained in the information. His Worship said he had seen the people in question, and had no reason to doubt their respeotability. Mr. Simkin, manager of the Wellington branch of Messrs. A. and T. Burt's business, was staying at the Egmont Hotel on tbe night of the great fire at Hawera, and lost the whole of his jewellery, valued at £50, together with his business papera. Tho twenty-seoond anniversary of the Moleaworth-atreet Wesleyau Sunday School was oelobrated yesterday. Tbe Revs. W. Baumber, R. J. Murray, and J. T. Nott, M.A., oonduoted the services, the church being crowded to excess in the evening. A feature of the services was the singing of gpeoial hymns by the soholars, who had been trained by Mr. J. Salkeld, choirmaster. The church ohoir and an orchestra assisted. The soloists were Miss Wright and Mrs. Miller (soprano) and Mr. Arlington (tenor). Mr. C. Coles, ohuroh organist, presided at the organ. The annual soirde and public meeting will be held to-morrow evening. The report to be presented at the annual meeting of the Arawa Sailing Club tomorrow night congratulates members on the success of the past season. There are now 28 members on the roll. Thanks are due to Messrs. T. T. Wardrop (Commodore), M. Chapman, J. Coates, H. D. Bell, E. C. Batkin, H. Gilmer, and Mrs. Wardrop for prizes ; and Mesdames Wardrop, J. H. Jaok, F. W. Mackenzie, J. Chalmers, Miss Turnbull, Messrs. H. Dix and A. Penty, for assistance at the " social." Six open events have been included in tho programme of the Wellington Football Club's sports meeting, to be held on the sth October. An advertisement gives details. Mr. Frank King, the young Wellington violinist now studying in London, has left the Royal Academy of Music in order to gain outside experience, and has been appointed a socond violinist in the Empire Theatre orchestra out of eight applicants. Tbe orchestra comprises 60 performers, all first-class artists. Mr. King intends to oompete for more high honours at the College of Violinists in July, 1896, and will return to Wellington via Melbourne in the following October. An exhibition of the designs for the proposed new isßue of postage stamps will be held in the Academy of Fine Arts on Thnraday. Friday, and Saturday next, at hours stated in an advertisement. A charge of 6d will be made for admission, the prooeeds to go to one of the oharitable institutions. At a largely-attended meeting of thoße interested in " mental and moral advancement," which was held at Spiller'a Hall last night, tho Wellington Ethioal Society was formed. Mr. J. A. Connoll presided, and explained that the object of tho sooiety was theostablishment of a school of thought with a view to elioifc the opinions of both sexes on ethioal questions. The rules drafted by the Provisional Committee were approved, and the following officers were elected :—President, Mr. J. A. Connell ; Vice-Presidents, Mrs. Taaker and Mr. A. Hindmarah ; Treasurer, Mr. V. Dimook. The foUowing team has been selected to fire in the Morris Tube Rifle Match against the Canterbury Mounted Rifles to-morrow evening, in the Mount Cook Drillahed, firing to commence at 8.30 sharp : — Lieutenant Hyde, Sergeant Welsh, Corporals Reid, Hutson, and Grant, Privates Corneal, Laughlan, Naughton, Nioholson, and T. W. Slinn ; emergencies, Sergeant Morley, Privates Marshall and A. Smith. Mr. J. Marrell, local manager of the Hud-dart-Parker Company, left for Dnnedin by the Anglian on Saturday to confer with the directors of the Union Steam Ship Company as to fare 8 and freight charges and intercolonial running. At a meeting of the shareholders of the Cobden Railway and Coal Company (in liquidation), held this morniag, Messrs. Jas. Barry and R. bloan were appointed liquidators. A bread and butter ball in aid of St. Paul's Schools is advertised to tako place in Thomas' Hall on the 13th ins 1 .. , under tho pitronage of His Excellency the Governor. The Melrose Football Club holds its annual social gathering at Thomas' Hall to-night. The orchestra of the Wellington Working Men's Clnb will hold a rehearsal in the social hall this evening. A popular eonoerS will be hold in the Primitive Methodist Schoolroom, Sydneystreet, to-morrow evening, in aid of the circuit funds. Tho Leinster Lodge of Freemasons holds its regular monthly meeting to-night. Last woeit's Cauterbury Times contains a largo numborof vrell-execuled photo views illustrative of Duuodin from 1859 to 1895, Gabriel's Gully Koldfleld (1862), with portraits of Otas;o pioneers, and a descriptire nccount of tho early days and leading sottlore. Ft H. Wood will soil to-morrow, at Taratnhi, stock. Towusoud and Paul will sell to-morrow, floworing plants, shrubs, &o. Laery anJ Co. (Limited) will sell to-morrow, fruit, unredeemed pledges, <ic. A. G. Tniuo and Co. will soli to-morrow, at 181, Upper Willis street, household fiirmturo and effects, without reserve. i'rancis Sidoy and Co. will soil to-morrow, furniture, &c. W. P. Sliortt will eonliimc Ellor's great salo tomorrow, at 1 o'clock. The pluce was crowded all to day. Tho balance will bo on view to-uiirht. Spring defining is to the ordinary male ratepayer a time of soro trial and tribulation. The best rogulatod household becomes thoroughly disorganised on this annuallyreourring occasion. Tho smell of Boapsuda pervades tho dwelling, and cold dinners are the order of tbe day. It is with a feeling of relief, therefore, that we announce that our spring oloaning is ovor, and the warehouso is now Bpiok and span to reooivo tho lovely spring and Rummor goods whioh aro pouring into the Wholoaalo Family Drapory Warohouso, Te Aro House. It may be stated at once that those goods far oxceod anything that has evor been shown bore. There is a rich treat in etoro for tho ladios of Wellington when they oomo to inspoot tho exquisito now dross fabrics, tho vory tastoful and elegant blouses and costumes, tbo brilliantly-designed Parisian raillinory, and tho bewildering display of novelti«R in cotton pieco goods, which may now bo soon at tho Wboloaalo Family Drapory Warehouse, Te Aro Honso. It has been tho custom in years past to inaugurate tho season with a grand promenade display of tho new goods. This will

be done on tho present occasion, but on a scale far surpassing any previoua effort. The entire establishment will be devoted to thia exhibition of the season's fashions, and it ib quite safe to promise the most brilliant display that has ever been made at the Wholesale Family Drapery Warehouse, Te Aro Honse. — Advt. Without a doubt one of the most magn;ficent displays of Electro-plate Goods ever shown in Wollington is being made this week by Messrs. Wilkins & Field. It comprises a complete set of samples (amounting to aeveral hundred pounds) from one of the best and largest manufacturers in Great Britain. As thcße goods have been purchased at a heavy discount off English prices, they will now be sold at fnlly 33 per cent, below their intrinsic value Inspection ia cordially invited, and we would recommend intending purchasers to call at an early date, so aa to seoure the first selection. See the display in tho window. — Advt. A Word About Eucalyptus.— A great deal has been said and written about the difficulty of procuring " The Genuine Article." We wiah it to be understood that we have received the highest awards whereover wo have copneted— including the highest award at Chicago Exposition, 1893 — beating nine competitors. Tho leaves of our special trees only yield about six pints of oil from overy 10001b weight of pioked leaves, while the leaves of the common peppermint gum trees and other inferior varieties of Eucalyptus yield from the same quantity of leaves as much as 25 pintß. For influenza this Extract is an absolute specific ; in faot, it acta like magic. Try Colomano's Eucalyptus Lozenges for voice and throat. Ask tor Colemane & Sons' Gold Medal Eucalyptus, and take no other. Sold everywhore. Wholesale Agents — Kempthorne, Proaser & Co., Sharland & Co., and P. Hayman & Co.— Advt.