OUR LONDON LETTER.

Evening Star, Issue 8591, 11 August 1891, Page 2

OUR LONDON LETTER.

ANGLO-COLONIAL NOTES. London, June 26. The main " topic of the day " in Anglocolonial circles and the City is, of course, the National Bank of New Zealand and its affairs. I have seen copies of several letters which have passed between large shareholders, and from them it is apparent that the Board will get an unpleasantly "warm" reoeption at Monday's meeting. The directors' threat to resign en bloc nnlesß the plan of campaign set forth in their circular of the 10th inst. is adopted does not seem to impress shareholders very muoh; in fact, one gathers that the unfortunate proprietors will only he too pleased to get rid of Mr Brodie Hoare and his coadjutors, though they fully recognise that it will not be easy to get capable and energetic men to take their places at once. The feeling existent amongst shareholders is shown very clearly by the following extracts from various letters to the financial papers. One gentleman writes : "It would be most unwise to entrust another LI 50,000 to the tender mercies of Mr Brodie-Hoare and his 00-directors. The former gentleman's 1885 report, taken in conjunction with his letter of the 19th inst., is, if not interesting, at least significant reading." In another letter a shareholder says: "Men who can, to put it mildly, so stultify themselves as to issue such contradictory reports, are not fit to manage a bank; and the sooner they cease to control shareholders and depositors' money thebetter." "Oamaru" has " only one objeotion to the resignation of the directors," and that is " the general belief that the London management of the bank, apart from the directorate, is not remarkable for either strength or brilliance. A new board might thus be seriously hampered." It may interest colonists who have a stake in the bank to learn something of the directorial duties of some of the men who have managed their property with such unsatisfactory results. Sir Charles Clifford is on the boards of a dozen companies at least, including the New Zealand Midland Railway, the Berne Land Company, the Blue Spur Company, and (until Mr Naidley intervened) he was one of the gentlemen who controlled the fortunes of the New | Zealand Antimony Company. A oouple of years ago Sir Charles was dubbed a " champion guinea-pig " by one of the leading city papers, and most people consider he deserved the title. Mr E. Brodie Hoare, M.P., is a director of seven companies, including the New Zealand Midland Railway, of which be is chairman ; and Mr E. C. Morgan, another direotor of the National Bank of New Zealand, is a trustee for the debentureholders. The Berne Land Company also seems to be rather intimately connected with the bank by community of management. Of the four directors of the Land Company, three —Sir O. Clifford, Mr W. 8. Graham, and Mr P. Vanderbyl—are on the board of the bank. Of Messrs Morrison, Rattray, Stack, and Young I know little. It was stated to me yesterday as a positive fact that a wellknown City magnate, who has been "let in" by one or two of the companies with which Sir Charles Clifford is connected in a directorial capacity, has bought a few of the bank shares for the express purpose of giving that gentleman a good " roasting." The story is given for what it is worth. I certainly oannot conceive any man risking many pounds for the mere pleasure of baiting a director; besides which, he won't get muoh change out of Sir Charles. man was subjected to the most virulent attacks by the shareholders of the unfortunate Antimony Company, and is thoroughly "case-hardened" by this time. The eighteenth annual conversazione in connection with the Royal Colonial Institute was moßt successfully celebrated at the Natural History Museum, South Kensington, on Wednesday evening last. As anticipated, it was the biggest and smartest affair of the kind yet held. Some 3,000 guests were invited, and apparently the major portion of those bidden put in appearance. The function commenced at nine and lasted till twelve o'clock. The guests were received in the Centre Hall by Sir F. Young and other members of the Council, including Sir F. W. D. Jervois and Sir O. Clifford. At about half-past ten, when the rooms were at their fullest, the scene viewed from the upper galleries was brilliant in the extreme. The heat, however, was very (trying and detracted muoh from one's enjoyment. The half-hour I spent in the building may bo best described as a succession of "melting moments." The dresses at the gathering were not remarkable as a rale, but there were one or two extremely pretty ones. Of New Zealanders a goodly number were in evidence, and amongst others I saw Mr and Mrs Percy Brown, J. Ashbury, Mr •Alexander, Messrs A. S. and S. B. Browsing, Mr J. P. Campbell, Mr and Mrs G. Cowie, Mr Frank Clifford, Mr N. W. Edwards, Rev. T. and MrsFlavell, Mr and Mrs R. R. Hunt, ;Djr Maonsell, Miss M»£ejjar/M* and Mrs J. Nairn and Mr F. Nairn, Mr and. Mrs J. E. Nathan, Mr A. N. and Mrs Louis Nathan, Mr C. Perring, Mr Pharazyn, Miss

Sievwright, Mr and Mm Sclandert, T. M. Stewart, Mrs F. Somerville, Mr J. Tinline, Mr Thomas Tesohmeyer, Miu Amy Tolhurst, and Mr and Mrs William* and Miss Williami. Captain Ashby and his wife were, of coarse, present. Durtog theyev*njbg the band* of the Ist Life Guards Mgfbe Ooldamam Guards and the Ladies' IWmpadoor ;<J|snd performed attractive jQwnal ielertlODS, whieh were fully BppWoiaVd by the assembly. In all respects the arrangements were distinctly in advanoe of former years, and the genial seoretary of the Institute, Mr J. S. O'Hallaran, is to be congratulated on the,success of the gathering. On Friday afternoon last a deputation fwm the United Empire Trade waited upon Lord Salisbury for the purpose of urging upon the Government the necessity of freeing the Mother Country and the Empire from the treaty engagements which prevent the colonies giving preference to British trade, and that an Imperial conference be summoned to consider the most practical plan whereby the various portions of the British dominions may be drawn into closer oommeroial union. Mr Howard Vincent, Mr James Lowther, General Lourie, and others endeavored to impress upon the Premier the views of the League. Lord Salisbury was rather discouraging in his reply. He said the subjects raised by the deputation were engaging—more than anyotherpolitioal,or,perhaps,social question —the attention of every nation in the world. The matter would receive the most careful attention of the Government. With respect to those unlucky treaties that were made by Lord Palmerston's Government some thirty years ago, he had not been able to discover that tbey at all realised the importance of the engagements into which they were entering ; and he thought that he could, with the greatest confidence, give an assurance to the deputation that not only this Government but no future Government wonld ever be disposed to enter into any such engagements again. However, theße treaties oontained provisions which, in other respects, were very valuable to she trade of this country, especially at a time when, as they knew, the current of Protection was running very high in every oountry except our own, Therefore they must not ask him to give any pledges upon this matter. He had no doubt that before a very long time had elapsed some means of mitigating the evil would be found. With regard to the larger question, we were getting to a time when we must pass away from general sentiments to close with the hard arguments and facts of the case. And in this oase detail was most necessary, because these Questions of commerce were questions of gures, and they must submit to their countrymen precisely what it was they wanted them to do, so that they might examine what the results would be upon their own commerce, their own life, and the interests they valued, and might form and (live effect to their opinions in consequence. W hat th9y had to note was to know how far the people of this country would be disposed to support a policy of which he imagined the most prominent feature must be a preferential tax on corn, a preferential tax on meat, a preferential tax on wool. They would never get their countrymen to consent to legislation of a vague or indefinite kind, especially upon matters which concerned their dearest daily interests. No Government could impose its own opinion upon the people of this oountry on these matters, and it was the duty of those who felt themselves to be the leaders of such a movement, and the apostles of such a dootrine, to go forth and fight for it; and when they had convinced the people of this oountry, the battle would be won. PERSONAL AND GENERAL. Mr and Mrs Holdship returned from Brighton yesterday, but did not, though invited, put in an appearance at the convereazione, Mrs Holdship being still too weak from the effects of la grippe to st&nd the strain of any evening functions. To-day they go down to Chelt nham to be present at the jubilee celebration at Cheltenham College, where one of their sons is being educated.

The Rev. David Bruce, in company with Mr and Mrs Honey man, left London this week for a prolonged stay at Brighton. Mr Bruce, I hear, is still very ill. The Rev. D. K. Fisher, a Congregational minister, who has for the past seven years labored in Shetland, has terminated his ministry at Sullom, and sails for New Zealand immediately. Sir William Jervois lectures to-day (Friday) at the United Service Institution on 'The Supremacy of the Navy for Imperial Defence.' Tonr ex-Governor's views on the subject of defence were lately promulgated through the medium of the • Nineteenth Century' under the somewhat infelicitous title of * Home Rule for the Navy,' and his leoture will probably run on the same lines. There is little doubt that Mr Henry Irving will ere long follow in the wake of " genial Johnnie," and pay a visit to the Australian colonies. Mr Irving has long entertained the idea, but it lay dormant until Mr Toole returned Home, when (on dit) over a little dinner at the Garrick Club the two had a long talk over the matter. Mr Toole made a good deal of money in the Antipodes, and he is of opinion that there is still plenty of gold and silver to be picked up if you only go the right way about it. That Irving will "go down" with the Australasian publio is, however, by no means certain. I have spoken to a great many colonials in London on the subject of English actors and acting, but have very seldom come across one who wonld honestly declare that he liked the great tragedian's stage eccentricities. G. Shaw, the erstwhile New Zealannd champion, accomplished a couple of splendid performances over hurdles at the Huddersfield Athletic Sports on Saturday last. The great attraction at this meeting was the first appearance of the American athletes, who have oome over to compete in the forthcoming amateur athletic championships. The Yankees made a very creditable debut, and will evidently pick up a good many trophies whilst in England. The hero of the day, however, was Shaw. His first success was in a 120 Yards Hurdle Race, whioh he (owing lfc yards) a won in 17 4-6 sec. No American competed in this event. Later in the day the New Zealander gave a far finer exhibition of his powers by winning easily the Northern Counties Amateur Qaartermile Hardies Championship (heaven's, what a mouthful!) in 59 r 3-ssec, thus establishing a new record for the distance over 3ft hurdles. Eugene Sartre, an American, finished second last. Shaw's next ap. pearance will be at Manchester next Saturday, when he will compete in the Quarter-mile Amateur Championship Flat Race, and also in the 120 Yards Hurdle Race. Bar accidents, the latter event is a gift to him. The Rev. Thomas FTavell, of Canterbury, who with his wife and family arrived in London last week, has accepted, as locum tenens, the pastorate of a parish near Windsor. He will remain there till October, in which month he commences to tonr Great Britain Tinder the auspices of the S.P.G. Both, Mr and Mrs Flavell were present at the R.C.I. oonvenaziooe on Wednesday evening. Mr Henry Reynolds returned from the North yesterday, and sails for the oolony by the Rimntaka to-day. Mr Reynolds has every reason to be gratified with the results of his stay in England. He has successfully nursed to thriving point the business which he opened in the Borough; and has, more over, gained a vast amount ef useful know* ledge concerning the London markets, eta, not only as regards the dairy produce business, but also with reference to the fruit and meat trades. Mrs Reynolds does not accompany her husband back to the colony.