WHERE HAS THE MILLION GONE?

Hawke's Bay Herald, Volume XXX, Issue 9891, 18 January 1895, Page 2

WHERE HAS THE MILLION GONE?

.A shareholder In the Bank of New Zealand aska us to pad a pertinent question for the Premier bo answer to-night. It la as to how the aecond million raised under the Bank of New Zealand Share Guarantee Acb has been applied. As oar readers are aware, the colony last session, bo assist the Bank of tjew Zealand over a crisis passed an Act guaranteeing the principal and interest on two millions of preference ospltal. One million was to be used by the bank in its "ordinary business;" the other million was to be "from time to time Invested in snoh manner or the Colonial Treasurer may approve, or as may be provided in any Act or Aots of the General Assembly." It is now Borne montbß since the two millions were raised' The shareholders know pretty well how the first million was utilised. Part went to pay off deposits falling due, and part to pay of! the debentures of the Estates Company, Bat, so we are assured, the shareholders are in absolute ignorance as to how the second million has been applied. The Interest on the two millions ii a preferential claim oa the profits of the bank, and un ler tie Aofc no dividends can be paid on the ordinary shares without the consent of the Colonial. Treasurer, It is natural that nnder the oirenmetances the shareholders should want to know where the money has gone. Has it been invested in consols or other easily realisable securities, or has It gone to finance the peouliar " non-borrowing " schemes of the Government, or is it invested in Treasury bills to aid the ordinary exchequer t This la a simple qaeatloa to whloh the Premier should bi able to give a simple answer. The whole public, and not merely the shareholders of the bank, are entitled to know how the money has been applied, for the taxpayers of the colony carry the ultimate liability for the two millions,

On the fourth page will be fonnd sporting and cricket news, some extraots from Dr. Newmans address at Qisborne, and delayed cables. The Hastings Borough Council met in committee to revise the bye-laws last night. Tbe smoke cancert In honor of the Glsborne cricketers has been postponed till Saturday night. A writer rashes iato the columns of our Poverty Bay contemporary to inform the editor, amongst other things, that the Australian black is untameible. The Rev. Horace ICllngender, of Pateß, has arrived and will meet the parishioners of Taradsle in All Saints' schoolroom, this (Friday) evening, at 8 o'clock. Owing to the roughness of the sea last night it was decided to postpone the swimming matches which were to have taken place opposite the parade till tonight.

Bishop Males of Nelson will preach at the 11 o'clock service in the Cathedral on Sunday morning, Bishop Juliaß of Christchurch at 3 o'clock in the atbernoon, and the Bishop of the diocese at 7 in the evening. The party which visited the Raabine ranges returned on Wednesday night, without baviog had a dry skin fjr a week, The trip was an adventurous one, and therufore highly satisfactory to the "young bloods" who participated, Mr Kirby received a telegram from the Premier last night stating that be had come on to Danevirke, and would arrive at Napier by tbe 1.35 train this afternooD. Special preparations have been made accordingly forhls reception. Napier's champion mean man has discovered himself. He refused to lend his boat to a rescue party in connection with the lamented fatality yesterday on the ground that the last time he had let it go ft had been returned with some mud on the bottom. At the S.M. Court, Walpawa, yesterday, W, A, WlltOD, boot-dealer, was charged with placirjg an obstruction, to wit an oil-drum, on the pnb'ic footpath on New Year's eve. The evidence showed the case to be a paltry one, which was not sustained, and which was therefore dismissed. Lieutenants J. G. Hughes and Berry, of the F Battery, were pnt through the practical part of their examinations for oommlsclons last night at the drill-abed, Examining officers : Captains M'Cwtney, Smith, and Chicken, and with them StafF-Sergeant-Mnjor Hnddlostone. The candidates passed the examination la a highly satisfactory manner. The exhibition of the Elixir system of dresscntting and fitting given by Mrs Noy in Waterworth'a Hall yesterday afternoon was largely attended by ladle*, and proved highly successful. The ladies present expressed themselves highly satisfied with tbe simplicity and efficiency of the system, which was very clearly explained by Mrs Noy. Classes for instruction in this system are now being formed, *nd Mrs Noy will be pleased to hear from ladles desirous of joining.

The annual ram fair under the auspices of tbe Manawatu and West Coast Agricnltural and Pastoral Association will be held at Palmerston North on January 31st and February Ist. Hawke's Biy flookowners have in the past found the fairs held by this association a good medium for parting with some of their surplus stock, and doubtless their Hocks will again be well represented at the coming fair. In connection with the above Messrs Abraham and Williams, auctioneers, ot Palmerston North, Insert a notice of Interest to aheepfarmers.

The man who was fined in the Wellington S. M, Court for putting on the brake of a railway carriage while descending the Klmutaka incline on a recent holiday, deposed that he was getting £2 a week, and was the father ot fourteen children, thirteen of whom and his wife tie had taken for an airing. The poor fellow was evidently so uSed to patting on the brake that he couldn't resist in this instance. Probably the thought of probable funeral expenses in the event of a runaway terrified him. A sympathetic Bench mulcted him in a fine of £1 and £1 8s costs, instead of the maximum £50.

All those who intend to take part In the mnsioal portion of the services ia the Cathedral on Sunday next are asked to attend the practices In the Cathedral to Dif>at and also to-morrow evening. Mr W. T. Sharp, the new organist and oholrmaster, arrived from Sydney yesterday morning, nnd having expressed his willipgness to conduct) the services himself on Sunday, Mr Manghan Barnett (who had kindly consented to act in an emergency) was communicated with and informed that his services would not he required. The first praotioe under Mr Sharp's auspioes was held last night in the Cathedral, the members of the cboir present being delighted with their new instructor, the practice being of a moat satisfactory character.

Oar Daneviike correspondent writing yesterday says :— Tho building of the new premises for the Bank of New South Wales goes on apace. Mr W, Henderson is also building two new shops in the same blook as the New Zealand Clothing Faotory.— A number of looal residents made the ascent of the Ruahlnea yesterday. The party included several ladies, and the ascent from the base occupied three hours. The scenery was beautiful, and the view from the summit admirable, Napier and the coast line being easily discernible.— The Rev. J. D. Webster, who has resigned the charge of the Presbyterian Churob, leaves here on Wednesday to proceed to China to taKe up his work on the China Inland MisMon. He will be succeeded here by Mr Donald West, of Chrigtchurch.

An Inquead woa held yesterday afternoon by Mr F. SiUton, doputy-corouor, and a jury of blx, of which Mr P. C. Freeth was chosen foremarj, on the body of an Infant child, which died nt Mrs J. Smith's boarding house at about 8 o'clock yesterday niomiHp. The evidence of Mrs Smith wns to the efFoot that Mrs Goulett, the mother of the child, had beon staying at her placa for about six weeks, daring which time ehe had suffered severely from Influenz i. The child wns born on Snnday, nnd proved very weakly. She iMra Smltb) nenc into Mrs Goulett's room at 6 o'clock yesterday morning, when both mother and child were Bleeping quietly, At 8 o'clock she afraln went in to sea Mrs Goulott, and fonnd the little one dead. Dr. Locking gave evidence that death had resulted troiu cerebral aniemia. Tbo jury returned a vordict accordingly.

Our Huntings correspondent! writing yoatorday says :— The block ot huildlngs occupied hy Monsrn L»nd aud Helqhway nnd the W.T.C. having beon acquired by Mr Garnet, Messrs Luml mid Helghway li'ive purchased tho lilock nrijoiiilupr Mr Knnch's drapery establishment, whore they will shortlj' oioet 3 h.im-isortie liwostory builrliug divided into two shop?, lo finu of which t)bey will transfer their own bm-inenb-. —The town band have signified rhoir vitiention of pii'iog another of their plention; outdoor pc'iformuncM nt tho mil w:\y-crossinfr on Saturday night. — Tho linking* Killeti will proceed on Satunluy "(i Uie Te ftrJn r,vi|_'p for w»rl;rum!<i'-< pmcice, ami to qualify for tho North

Island and district medal competition.— I'ti^re ate to ba a. very large number rf c^ses heard at the S.M. Court to-morrow (I'tlday) morning, including one or two of i somewhat sensational nature. If bnti* ness at the Court continues to locrense we sliill soon require a S.M. of our own. The following civil Wlnees was transacted at the Walpswa S M. Court yestc rd*y :— W. Garry v. Peni Peni, claim £33 lQi 2d, with 30a costs, solicitor (Mr Lee) 3 Is, interpreter 10i 81; vsr, Rathbona v. VV. H. Sebloy, clnim £46 3j 31, with 153 costs, eollcltdr (Mr Lougbnan) 20a ; Patingata County Council v. J. Carmody, i? 10b, judgment for £3 16s, with coßta j.Os ; same v. Vlnceat RiemueEen, £4 103 41, with 11s costs; Paora Ropiba v, Aranl Tapurapuru, £6 6s costs 20a, solicitor (Mr Loughnan) 15s, interpreter 2s 6 1 ; P. A. Co.°grore v. Nerlmn Renata, £5 17-i 6d, coats 20s, solicitor (Mr Loughnan) 153 6J, interpreter 2_j 6d ; J. Bradbury v. W. J. Hughes, judgment summons £6 7', to be paid forthwith or In default seven days in Napier gaol ; Mail Company v. Ca»sin, £5 16s, with 10s costs ; J. Adams v. Dr. Mlrbach, olfllm £19 Is 6 J, was partly heard nnd adjourned to ba heard de novo by Mr Turnbull, S.M. Four cases were paid, one confessed, eight not served, and seven adjourned. Oar Ormondville correspondent writing under dato ot the 17Dh Bays : — On Wednesday afternoon the ladies' committee of the Anglican Church gave a very successful social, the object of which was to raise funds for clearing the new parsonage of debt. The hall was beautifully decorated with evergreens, tol-tol, and flowers. Tables covered with various fjamo! and illustrated papers were placed ronnd the room, and were soon f>urlounded by the young people. The weather was not the very best, but quite a number of visitors ciroe from Hakotoku, Norse wood, and Papatn The following were some of those who gave eungs, recitations, &c. i — Meadames Owen and Allen j the Misses Brenkley, Millar, B'ythe, Maycock, Greom, and Webb ; Messrs H. Smith and Arthur. The evening's entertainment was much enjoyed by all who camp, and was brought to a close a little after 10 o'clock by the Binging of the National Anthem.— Grass seed cutters are. busy now, and crops of oats, rye, &c, are being taken in. —The alterations to the district school are being carried forward rapidly. - Mr J. Thornton, of Te Ante College, who has been on a holiday visit to tbe sister colonies, re'ntned yesterday by the mission schooner Southern Cross. Tbis schooner, which belongs to the Melanesian Mission, Is used between the various islands of the South Paclflo for the purpose of conveying missionaries to aod from their Island stations. The Southern Cross registers abont 250 tons and haß an auxiliary screw, so that she is not entirely dependent on the wind for travelHog. She was built in England to the order of the mission, and has now been lor some years nsed in connection with mission work. The recently consecrated Bishop of Melanesia, tno Klght Rev. C. Wilson, and the Rev. A. Brittaln also arrived by the echooner. The Bishop will take part in the consecration of the Bishop of Walapu on Sunday next. Hence be will proceed to Wellington to assist at the consecration of Bishop Wallis, the now Bishop of Wellington diocese, after which he goes to Nelson for the General Synod, and then to Christchurch and Dunedin. The bishop has brought with him a party of 20 Melanesian young men. One of his chief objects in visiting New Zealand is to stir np interest in the Melanesian mission, the work of which hafl been adopted by the Church in New Zealand. The <=chooner is nnder the command of Captain Bougard, who has been in the service of the mission a great nnmber ot years, and ta whom the mission owes much for his self-sacrificing work. The Sonthern Cross left again for Wellington last evening with the Key. A. Brlttain and the Melaneslans. The Bishop will go overland on Monday. " Boomerang " Brand Australian brandy is the most wholesome stimulant in the mirket. Obtainable at all hotels. — fADVT. 76