TELEGRAMS.

Hawera & Normanby Star, Volume IX, Issue 1518, 6 January 1887, Page 2

TE LEG RAMS.

(PER PRESS ASSOCIATION.) WELLINGTON, January 6. The Gear Meat Preserving and Freezing Company show an annual profit of .£12,545. A dividend and bonus of 12} per cent, was declared. The Clri''f Justice has granted an applicaliou for the arrest of Waters. The Times says that the action of the Northern Land and Loan Company looks as though, having lost A'3ooo by the defalcations of their secretary, Waters, the directors had virtually squared the matter for a sum of money, which reduced the loss to .£I9OO. The article proceeds : " What we blame the directors of the company for chiefly is their repudiation of any responsibility in regard to the initiatory proceedings against the defaulting secretary. It. is not sufficient to say to slmivholders, *' You can Uke any action you like." The directors should have recognised the gravity of the offence committed against sociJ honesty and commercial morality. They should have come down boldly to shareholders and said, "We do not feel warranted in risking jour money without your sanction, but this is a very flagrant case, and we feel bound to ask you for authority to prosecute, ami then the chairman should have moved that prosecution be undertaken. As it is, misgivings are suggested as to whether all has yet been told. If facts are simply as stated, and there is nothing behind which might qualify their bearing, then it seems to us that by " squaring " such a case the commercial honor and reputation of Wellington has been dragged through mud and grievously besmirched. This deplorable affair, following as it does' Waring Taylor's frauds, will do serious injury to the reputation ot this community for commercial honesty. It is most lamentable that such a crying scandal should have arisen at all, but it is rendered tenfold more damaging by a vain attempt to hush it up. AUCKLAND, January 5. It is expected that Sir Julius Vogel will come to Aucklend at the end of the month to iake part in the ceremony of laying the foundation stone os the Government Insurance building. AUCKLAND, January 6. Thomas Kellj', of Wade, has been committed for trial on a charge of aiding a betting pei&onation on the part of Hariy Brady at the Waitemate election. Brady was previously committed. CHEISTOHUECH, January 6. An unsuccessful search has been made for the body of Pillow, who was drowned at New Brighton. WESTPORT, January G. A female child named Lamplough, aged five, was crushed to death at Addison's, near Westport, by the wheel of a dray passing over her.