SYDNEY.

Lyttelton Times, Volume XCVII, Issue 11224, 23 March 1897, Page 2

SYDNEY.

[Correspondent “ Canterbury Times.”, SYDNEY, March 3. FREEMAN KITCHEN V. PRICE WABUNQ.

The mueh-talked-of case between Mr Freeman Kitchen,, the editor of Messrs Lassetter and Co.’s paper, the Field, and Price Waning, the famous novelist, came on for trial last week. The latter was the principal organiser of the Bathurst Federal Convention, and he was arrested and brought down to Sydney in custody on a charge preferred by Mr Kitchen of having obtained money under false pretences from him. The case was dismissed. Other Police Court proceedings were taken by the prosecutor, aud also proved futile. At last a committal was obtained, and owing to some difficulty in obtaining bail, the popular writer had to spend some days in gaol. He was finally bailed out, however, by John Norton. When the charge came on for trial, it resulted in a triumphant acquittal. The case mainly resolved itself into a conflict of testimony between the prosecutor and the defendant, and the latter had so much the best of it that the jury acquitted him without leaving the box, and without calling upon his counsel to reply to the charge, a finding in which the judge stated that be heartily concurred. The crossexamination of the prosecutor was very amusing, and in some sense valuable, on account of the light which it threw on the antecedents and principles of Conservative journalism. John Norton’s paper. Truth, was the only one which published it. THE STATE OF TRADE. The opening months of the year are seldom particularly active from a commercial point of view. In January both traders and their customers are usually suffering a reaction after Christinas festivities and holiday-making. In February the demand for shearing supplies has not yet set in. Deliveries of wool and grain cease to be heavy, and the general attitude is one of suspense. The month just past has been no exception to the rule. Merchants’ business has been quiet, but distributing houses report that as compared with previous Februaries they have little to complain of. The fashion of the day is to “ do away with the middleman.” This is the cry of the manufacturers’ agents from other parts of the globe, who, since the inauguration of free trade, have made Sydney their happy hunting-ground. They profess to supply storekeepers direct at importers’ prices, but the word of promise, though kept to the ear, is often broken to the hope. Merchants in a large way of business can get concessions in prices, discount and freights, which often leave the so-called “agent” far in the rear, and the small importer, after paying all the charges connected with his indent, finds that ho could have done appreciably better through bis usual channel. The most hopeful feature of Sydney business at present is the marked improvement in the intercolonial trade, which tends to Sydney more markedly than ever before. That general business is improving, though slowly, is evident from the railway returns, which show an increase of ,£7680 for the month of February, and of £93,035 for the expired portion of the financial year. CEMENT CONTRACTS. Some of the officials who have to do with cement contracts are in a dilemma which is rather amusing. It is generally understood that they are empowered to pay for locally manufactured cement sixpence per cask more than the imported article can be laid down for. But in order to fix this satisfactorily it is, of course, necessary to fix the latter figure first. Importers, however, have got so tired of tendering and seeing the contract given away at prices above their own that they decline to tender any more. This is not to be wondered at wlien it is remembered that in order to tender for a line of cement it is necessary to cable for lowest prices, freights, &o. What increases the embarrassment of tho Department is that the local works are about as fully employed as they can be, and cannot easily enlarge their operations. They will probably learn by the incident that business men must be dealt with in a businesslike manner. . JAPAN AND THE COAL QUESTION. The trade of Newcastle is improving, which means that the competition of Japan in Eastern markets is diminishing. Unless the cableman has been at some of his old ti’icks, it is likely to diminish still further, for it is announced that Japan has decided to go upon the gold standard. The great advantage enjoyed by Japan has been low silver exchange. A sovereign buys seven or eight silver yen or dollars, which, in their own country, are worth 4s 2d each. If Japan is really going on the gold standard she will deprive herself of this advantage. It is extremely doubtful if the commercial section of the population would agree to the step, even if tho Government were rash enough to take it. The latter, like the Germans after the payment of the French indemnity, seem to think that they can afford the costly luxury of a gold standard as well as Great Britain. Further and fuller intelligence, however, must be received before anything definite can be known of the proposed new departure. Some years ago it was stated that Austria had adopted the gold standard, but she is not on a gold basis yet, and it is exceedingly doubtful whether she ever will be. Eussia is also said to be about to adopt the gold standard, but the real work of the currency of the Empire is to he done by silver, which is to be legal tender for 50 roubles, or £7 10s. If these nations were to go for gold in reality, as Great Britain does, the strain on that metal would become so intense, aud prices of commodities would consequently fall so low that the position would become intolerable. There is much cry and little wool in this talk of financially weak nations adopting the gold standard. mort’s dock. It is an excellent augury that the Mort’s Dock Company find their business increasing to such an extent that they have to enlarge their dock. They are also, which is better still, restoring to their employes

the proportion of thoir wages which was docked when business was dull. As good Protectionists they find it difficult to reconcile all this prosperity with the prevalence of a free trade regime. At the recent annual picnic of the firm the Chairman attributed it to the reduction which had been made in port charges—a most lame and inadequate explanation!