GOLF

Evening Post, Volume CIII, Issue 46, 24 February 1922, Page 8

GOLF

EXPERIMENTAL COMPETITIONS,

The Royal and Ancient Golf Club of St. Andrews has advised the New Zealand Golf Association that the Rules of Golf Committee has invited the golf clubs of Great Britain to hold experimental competitions with balls of the largest procurable size, but not restricted in weight. The object of this experiment is to test rthe frequently-ex-pressed opinion that a substantial increase in the size of the ball is the best means of securing the objects desired, and that the weight is of minor importance. The New Zealand. Golf Association has been asked to conduct a similar experiment in this country and report the results of it.

"Every man in this country, who is not. a farmer, is a parasite," ran a remark made by a farmer to Mr. J. A. Frostick recently. Mr. Frostick mentioned this matter at a dinner last evening, when he was referring to one great national service which the press could accomplish in correcting the prevalent ignorance about the inter-dependences of various sections of the community in.the maintenance of a satisfactory standard of living. A representative of the press replied that though the views of some newspapers on the question of tariff protection might not exactly meet the wishes of manufacturers, the press, as a. whole, was a solid supporter of the "made in New Zealand" movement. The measure of the newspapers' helpfulness in this respect depended entirely on the manufacturers themselves. The more they strove for the advancement of. local industries, the more they would see their good work reflected, in the press for all eyes to see.

The Postal authorities have received advice from Sydney that the Maheno left that port at 11 a.m. on the 23rd instant for Auckland. She has on board for Wellington 63 bags of mail from Australia, 2 bags from beyond, and 22 uarcel receptacles.

MANGAHAO POWER

REPLY TO MR. MITCHELC, M.P.

STATEMENT BY THE MAYOR.

A reply was made- by the Mayor (Mr. It. A. Wright, M.P.) to-day to the statement published yesterday by Mr. G. Mitchell, M.P., in which anxiety was expressed that tho city would not be ready in time to take the electric power from Mangahao.

"Mr. Mitchell1 states that the engineers and officials are quite prepared with nil plans and arrangements, and aro ready to proceed as .soon as the loan is floated," said the Mayor. "I am glad he has made this statement, because it is only a little while ago that Mr. Mitchell said that the engineers and officers were by no means ready, "and that no preparations were being made at all to receive the Mangahao current. Mr. Mitchell also suggests that nnless work is commenced immediately, tho city will not be ready in time to make the change over, and that' the hank might be appealed to in the meantime to advance us money in anticipation of the city lemn being raised in London. In reply to tne latter suggestion, I would like to say that no bank would undertake anything of such a gambling nature, for although I certainly, believe that the loan will be floated, it may be that a crisis may arise which will cause a postponement, and thus the bank and the council would be placed in a most ambiguous position. To proceed with tho necessary preliminary work at once would entail the signing of the contract, thus making the City Council liable for the full amount of the money involved. In the circumstances, it would be unbusinesslike to commit ourselves until the loan is actually floated."

KEEPING DOWN THE INTEREST.

- The Mayor said it was not an accident that the loan had not been floated earlier, as a published statement had implied. "It was absolutely a matter, of design on the part of the council," remarked Mr. Wright. "Last December we were advised by our London agents, who had the signed debenturesin their possession, that the loan could bo raised at 6£- per cent, at 98j. They advised that everything was ready, and that all they wanted was the instruction of the council to proceed. After due deliberation tho council decided that it would not proceed at such a price. With the flotation charges added, the' interest on the loan at the terms quoted would have been almost 6| per cent. Add to that 2 per cent, for sinking fund, and that would have brought the rate, up to 8$; The council consequently considered that it would be suicirjtl to attempt to float the loan at the price mentioned. It must be remembered that if we are not very careful in regard to these interest exchanges and other charges in connection with our new electric scheme, the power from Mangahao will not be any cheaper that what the people are paying for to-day. As far as I know, the Government, has not stated what it is going to, charge the; city for the Mangahao power. That charge will depend upon the cost of production, which, under present conditions, Svih bo by no # means inexpensive to * tjhe ■ Government.' It is absolutely essential, therefore, that the council ' should strive by all the means in its power to keep down the rate of interest."

COUNCIL NOT TO BE HUSTLED.

"When the City Council refused in December to proceed with'the flotation of the loan because it believed it would secure a cheaper price if it delayed the matter, it immediately set about seeing what could be done!' .If was found that legislation was necessary to'float the loan at a lower rate than 6£ per cent., and this legislation was. passed. . The solicitors to our London agents next advised that they must have a copy of the Act. That copy' has been forwarded and should arrive in London about the mid- <#? of March. As far as can be told at present, there will be no difficulty in floating the loan at Uhat. time. 'The City Council is determined not to be hustled into making any bad bargain. The question of the rate of interest will practically affect for all time the charges for electric light and power in this city, and it is absolutely vital that.we should do ill we can io get the loan floated at the very lowest price possible. " Power from Mangahao cannot possibly be available for Wellington before December. 1923, a, period of twenty-two months. If the 6rm with which we are dealing is. unable to manufacture the necessary plant and get it ready in eighteen months, then there must be something wrong with its equipment. I am given to understand, however, that eighteen months will bo sufficient time for the firm to manufacture the necessary plant and erect the stand-by power-house at Evans Bay; therefore there is no need for anxiety. I don't mind the City Council being criticised for what ifc is doing at the moment; but it appears to me to be somewhat unreasonable to make criticisms concerning something that is two years ahead. ' Sufficient unto the day is the evil thereof.' "