WELLINGTON ITEMS.

Lyttelton Times, Volume LXXIX, Issue 9992, 22 March 1893, Page 6

WELLINGTON ITEMS.

[nOM OT7X OWN COBBIBPONDXNT.] WELLINGTON. Maboh 21. . . WANAWATO RAILWAY COMPANY. tha fall in th« price of the Mattawain Company's debentures. an ' aoonoed by cable the other day, the explanation is that it ie partly due to the taxation. in this way: The legislation of lostysargave all Companies the right ™ dednot from their interest payments the tax dhatveable bn their debentures. At thb last, payment of interest this was not done in the case of the Manawatu Company/ The next payment being due in time, some holdars were anxious to sell, 00 •a to; avoid the deduction; bnt as this woqld.nct amount to more than 8s 4d, very aidh less than the fall cabled, it is suppOMdthat there has been some “ bearing lOTia nnrnose. the evident desire of some oftiMtholdera to sell facilitating the ! I may add that when the debentures - were issued some ■■ years ago thus were issued subject to deduction of ttOvJPropmar tax. The Company felt mneh aggrieved when the Property tax was amended by taking away from all Companies the power of making the deduodon. and petitioned the Legislature to rsebbre the position. As the Legislature dM nothing, the debenture-holders have till now escaped the taxation to which they knew they were subject whan they invested. Thus it is evident that the legislation of last year is not a breach of any agreement so far as the debentureholdsn of the Compatfy are concerned, but merely • return to tie original arrangement. There are many here, of course, who think that this Company is too heavily handicapped, for whilst it has to compote with the Government railways, whpeb rates are the limit of its rating power, it has to pay local and tanerel taxation, and the debenturoboldsrs have to pay a tax. whereas the Government railways are free of all taxation. Inst as their bondholders, the holders eTNeW Zealand Stock, are. The feeling is strong-that this ought to be remedied. TheMoaawatu Company has, nevertheless, tft+r paying, over J 840.000 on taxation, dividend-paying stage, having dtitdild v b" W'bent. Thei hardship of the pbeitkm is clear enough, howfever. It is a matter of great-public interest, for. the 1 pebßcitteing the Manawatu Railway has to pay-all these charges. A remission of all tmeatien except on the Company’s land, wUeh ie a fair eubject of taxation, would no doubt be followed by a lowering of the

, MV'-' .• ' T* ABO HAILWA.T• - Tji# difßdultie# about Aro Kailyff|« KKtaniion. which havo been much : have beeii' arfahged amicably, the Commisiionera having accepted the Jlinietee’a terms. A little work still to be done, such as asphalting the and putting the finishing touches eBAfo baildißg' and fittings; but things •m' sufficiently -forward to warrant the expectation: that the line will be available forth* Eooterholidsy traffic. By the way, the - new station, which • has been con-‘ ■traeted an the co-operative principle, is a very . substantial piece of work, which xefieete great credit on all engaged in it. Thera is a difficulty about the further rertemifififi which will be necessary before arinagamenta can be made for the goods traffic The City Council complains that lHinister hss seized a part of the vaeerve set apart for reclamation by it. It la the Council's idea that it will lose half of the value . placed on the ree&amation prospectively, for of course it ia not nude; but the reserve was made subject to . the requirements for the public seWiciO« J£colama!<ion Act giving the Miaiiter power eten to take any reclamation that, might be made, on paying the ocptv the . present case the Minister is aoting on that power, the position being ■uapUHed by there being no reclamation. The 'Opohcil points out that it has a dock site in its reclamation reserve, but. the Minister tells me that the departmental nation does not interfere with the dock sitsi in any way. If it did, however, there venld be no difficulty in making more reclamation reserves, for the harbour is big enough, in all conscience. As to the value of the reserve left to the Council, the Minister contends that it will get from the railway station more value than the whole reclamation loses by the Department’s action. SIAGISTIBIAL. Mr Bishop is. the Magistrate selected for North Canterbury. He is a capable Magistrate and a good Maori scholar, a fact which makes him the right man in the right place at Kaiapoi. THB BASTES ENCAMPMENT. The volunteers are making their preparations with great goodwill for the Easter encampment.. Every corps will be represented, abd a large proportion of the men have signified their intention to be present. [Per Puss Association.] Mr Fernandez, a prominent fishmonger, is having a steam trawler built for use in the Sounds. It will be the first vessel of the kind in Wellington. The total amount sent to Brisbane up to date through' the Colonial Secretary is .£1727. . The City Council has collected £461. The Evening Post closed its list today with £725 17s 6d. For sufferers by the local floods £329 has haan aubacribed, besides large gifts of elething.fuel, &o. Ths Native. Minister will, visit the T7riw*ra country again if the agitation overthe surveys does not quiet down. The government denies the statement it is subscribing to the Imperial Institute. Sir Walter Bnller > is merely appointed Commissioner, and it has been decided to put the New Zealand section in of ??iwß*i* w j representative of the London Tune*, before leaving for Canada, via Auckland, had a long interview with the Minister lor Labour. ,