Article image
Article image
Article image
Article image
Article image
Article image
Article image
Article image
Article image
Article image
Article image
Article image
Article image
Article image
Article image
Article image
Article image
Article image
Article image
Article image
Article image
Article image
Article image
Article image
Article image
Article image
Article image
Article image
Article image
Article image
Article image
Article image
Article image
Article image
Article image
Article image
Article image
Article image
Article image
Article image

OUR HOME LETTER.

His Excellency the Marquis of Normanby, having completed his term as Governor of New Zealand, has left our shores, and lias r.n-ived in Victoria, where he is to succeed Sir Ccorge Bowen. The Chief Justice (Prendergast) has been sworn-in as administrator of tho Government till the arrival of Sir Hercules Robinson, lately Governor of New South Wales. The Marquis of Normanby has, on the whole, been an acceptable Governorof this colony, but unfortunately there has been some bitterness of feeling between him and ti c- Premier, Sir George Grey, which lias somewhat disturbed the friendly relations which ought to exist between the Governor of a colony and his responsible advisers. Previous to the present Government succeeding to office, the Governor had been accused of shewing a political bia3, and at several times an antagonism has been manifested. As in most cases of quarrel, there have beer, faults on both sides, but we incline to think that only a small number of the people of New Zealand severely blame His Excellency. The Marquis was well received in passing through the South when leaving, and at Invercargill he delivered an address dealing with a topic which has several times been referred to by the Premier and Attorney-General in public speeches. These gentlemen have favoured tho idea that a colony should elect its own Governor, rather than accept one who is nominated by the Colonial Office. His Excellency referred to the subject, contending that for a colony to elect its own Governor would mean separation from Great Britain. Sir Hercules Robinson has been a most acceptable Governor in New South Wales, and the people of New Zealand anticipate that he will have an equally satisfactory carGer in this colony. Darin? the greater part of the past month Ministers have been assembled at Wellington, and the only political address of importance which has been delivered has been a speech by the AttorneyGeneral (Hon. R. Stout) at Invercargill. The Premier and Native Minister will soon be coming North to attend the large meeting of natives to be assembled under Tawhiao, the Maori King, at Kopua, in the Upper Waikato district, about the end of March.

There is no change to note in the aspect of native affairs. Absolute confidence is now felt by the Europeans in the maintenance of peace, and hopes are entertained that, at the ensuing meeting with the Ivingites, sc.me agreement may be come to which shall lead to the opening up of the country which the natives have so long kept closed against European settlement. During the last few days, about 300 natives of the Ngatiwliatua and Ngapuhi tribes have been assembled at Paul's settlement of Orakei, a few miles from Auckland, where they have discussed matters of interest to themselves. The proceedings were commenced by a speech from Paul and by a message from Sir G. Grey and Mr. Sheehan. Some of the principal chiefs assembled will, at the conclusion of the gathering, proceed to Waikato, to attend the great meeting of Ivingites at Kopua.

The election for Auckland City West is now exciting considerable interest, not oil account of the political position occupied by either of the candidates, for both of them are new to Parliamentary life, but because the issue is placed upon one particular point, to which public attention luis of late been strongly directed. 11l 1877 an Education Act was passed for the colony, and after a struggle it was settled that the system to be established should be a secular one—that is to say. no religious instruction was to be given by the teachers, nor was any to be communicated during school hour 3, but the use of the schoolbtiiidiugs was to be granted to the different religious bodies, when not in use for the ordinary school, work for communicating religious instruction. The Act has worked well, and, for the first time, the educational necessities of this part of the colony have been met. But it lias been strongly attacked by the Roman Catholic body, who have commenced an agitation for % separate grants from the public funds for their own schools. Mr. Peter Dignan is supported a3 a candidate for City We&t by the Denominationalist party, while Mr. George Guiuie is the candidate of those who desire to maintain the present system. The vacancy in City West i 3 created by the elevation of Mr. Patrick Dignan (the father of tho candidate of that name) to the Legislative Council. As the Catholics are strong in the electorate, a close contest i? expected.

A Commission to take evidence and report upon the higher education in the colony, and what means can be taken to improve it, has been sitting in Auckland during the last two weeks. There are in the colony a number of endowments for the higher education, and there iB a University, with certain affiliated colleges, ■which exercises and grants degrees, but the system has not worked satisfactorily, end during next session an effort will be made to improve it. A new building for the Auckland Grammar School is soon to be erected.

Oa the ISth of February, the steamer Taupo. belonging to the Union Steam Shipping Company, struck on a rock at "the entrance to Tauranga harbour. The accident, it is believed, was caused by the vessel going too close to the rock, and being caught by a strong tide current. The passengers and cargo were put on shore at Tauranga, and efforts, which it is believed will be successful, are now being made to take off the vessel.

The whole colony lia3 been startled a:id grieved by the first serious colliery explosion which has occurred in New Zealand. which took place at the Kaitangata mine, Otago, on the 21st February. An explosion of fire-damp occurred, by which tliirty-two men (all who were in the mine at the time) were killed. There are vast coalfields in New Zealand, but the workings have hitherto been almost on the surface, and there is no effective system of inspection or precaution against accident. It is. evident, however, that this matter will have to be attended to in future. Subscriptions are being collected all over the colony for the widows and orphans of those who were killed.

The Thames goldfield still continues depressed. The yield of gold has greatly fallen off, and no new discoveries have been made. The pumping and deepsinking operations, which have been going on for several years) aided by subsides from the Government, have had to be stopped for want of funds. Opinions vary greatly on the effect which this will have on the field. Throughout the whole province, however, agricultural settlement is progressing surely, if slowly, and here, as indeed throughout the whole colony, there have been great complaints arising from the scarcity of labour. A number of important public works are being carried on in the youth. In this provincial district the Waikato railway is being extended to the borders of the King Country, and it is hoped that soon an arrangement will be come to with the natives for its extension through the fertile country to Taranaki. Even those who do not profess to know anything about native affairs, and who are not ready on all occasions with their "views" on the subject, must see the great importance to the country of the proceedings at the meeting to be held at Tii Kopua in March next. It will have important political effects. Either some distinct progress will be made, or the negotiation will suffer a decided check. If the meeting is a failure, the political power of the present administration will be decidedly weakened, even though it may not be pretended that any other negotiator could have done any better. This is clearly seen by those who are opposed to the present ministry, for there is no doubting the fact that they are making

strenuous efforts, regardless of consequences, to thwart the Government in this department of its action. It is very difficult to hazard any conjecture as to what will be the result of the meeting. Two or three native chiefs have within the past few days been up to see Tawhiao, to fix the place of the meutin", and to arrange for visitors from this part of the country. In accordance with a suggestion made by Paul Tuhaere, Tawhiao agreed that the meeting should be at Te Kopua, six or soven miles from Alexandra, so as to be convenient for the Europeans attending. What his views are now—what he proposes to do and to say —ho has not explicitly stated. It is said, however, that ho is quite settled in the determination to adhere to the agreement made at the Hikurangi meeting. He fully acquiesces in the confiscation, and will not, directly or indirectly, seek to disturb that, and will bo contented with the district of • country assigned to him. He will, . however, it is said, raise various questions respecting what may be termed his out-lying districts, such a3 Tauranga, Taranaki, and Wlianganui, and upon the satisfactory solution of these will depend the result of the meeting. Tawhiao's position is unique and curious. With him the divinity that doth hedge a King " is as apparent as with the Russian Czar. Although the Maori Kingship is but a thing of yesterda3 r , it has in very deed, and not by a mere figure of speech, in the eyes of its adherents, a divinity lodged in it. Their ancient superstitions, the remnants of their Christian teaching, scraps of the vagaries of Spiritualist mediums, all centre in him. And yet lie does not dwell apart. He is subject to tho criticism of all who surround him, and lie watchesand fears it, Personally, the man is a3 curious a compound as tho office he holds. All who have been brought into contact with him and with Rewi, admit that the latter is by far the more intellectual man of the two. And yet Rewi could not fill Tawhiao's place. Tawhiao has a kind of deep instinctive cunning which prevents him from making mistakes, or from committing himself. He speaks little, and like others wlio do the same, gets the credit of profound wisdom, which indeed in his case silence, may be. With the natives all over the Island, Tawhiao has an intiuence which Rewi has not, and if Tawhiao were determinedly to oppose any arrangement being carried out, Rewi could at present do very little for us. Ministers and Government j officers seem to be able to bring very little personal influence to bear upon Tawhiao. It is reported that Rewi has gone too far, and lia3 been on too intimate terms with Ministers and with pakehas in general to please the members of his tribe, and that, therefore, some of them are inclined to separate themselves from him, and to look more to Tawhiao, regarding him as, after all, the champion of the position, the dignity, and the rights of the Maori race. Whether this statement is true or not, we feel sure that Tawhiao will not render himself liable to such an accusation as has been made against 'Rewi. He will move no further and no faster than he can do with perfect safety to all his influenco with his own people. He will rather, in the matter of making accommodation with the Europeans, lag behind the wish of the majority. Every Maori knows that personally Tawhiao could get great advantages for himself by coming to terms with the Europeans, and Tawhiao is conscious that he will maintain his influence best by appearing to hold with the extreme patriotic party, by being the last to give up the autonomy of the Maori race, and by holding, as far as he can, to the position to which his father was elected and to which he succeeded. The returns furnished by the last Census give opportunities for looking at the condition of the people from so many different points of view, that one hardly knows which position to take up first. Tiie statistics shew all about tho population and houses occupied by the people, their ages, their religions, their birthplaces, their conjugal condition, their occupations, their education, their sickness and infirmity ; all about the land, crops, live stock, butter and cheese, agricultural machines, industries, land and building societies, public libraries, mechanics' institutes, places of worship. The most convenient time for public writers dealing with the results of a Census, is when tliey have some liobby to maintain, or some political points to urge, or when they want to shew that it is essential some public work should be made at some particular place, or when they are called upon to shew the utter baselessness of the assertions of their political opponents respecting the progress of the country or the state of the revenue. Then is afforded an opportunity of shewing how easy it is to make figures say anything. It is difficult to make figures interesting in any other way, and this fact must be the excuse for many of the tricks that are played with them. For once, however, we may fish at random amongst the statistics last issued, having the sole object of placing a few interesting fact 3 before our readers. After all that has been said about abolishing Provincial Institutions, and after all that has been done by legislation with that view, when it is desired to compare one part of the colony with another, the Provincial divisions are those to which people will first turn. Colonists have not yet begun to take pride in their Counties —we do not hear of settlers boasting of being a Hobson man or a West Taupo man, but all take pride in hailing from Otago, or Canterbury, or Auckland. Our comparisons shall, therefore, chiefly be between the different Provinces. There are, indeed, only four Provincial Districts which, from area and population, admit of fair and easy comparison, and in order that we start fair, we give the figures shewing the population of these:— Auckland, 82,001; Wellington, 51,009; Canterbury, 91,922 ; Otago, 114,409. There is one particular point in respect to which there are no figures in the census returns enabling a close comparison to be made, and that is, as to the capacity of expansion which each Provincial District possesses. The acreage of each Province is not known with anything like precision, but their area 3 are believed to be somewhat as follow : —Auckland, 18,000,000 acre 3 ; Taranaki, 2,399,000 ; Hawke's Bay, 2,810,000; Wellington, 7,400,000; Nelson, 0,700,000; Marlborough, 3,000,000; Canterbury, 8,090,000; Otago (with Southland), 15,438,240. -The extent of occupied holdings in Auckland, over 1 acre in extent, is 1,220,007; in Wellington, 1,184,403; in Canterbury, 1,700,G81 ; in Otago, 2,170,008. The proportion in Auckland, therefore, of land occupied for settlement is very much smaller, in comparison with its total area, than in any other Province. In Canterbury there are 3,453,501 acres, and in Otago 7,240,939 acres rented for pastoral purposes only, but although that occupation contributes much to the wealth of the Provinces, it is not of much interest in the present estimate. But the next consideration is most important. People buying land in Canterbury and Otago, have for many years past had the whole surface before them where to choose, and it is only fair to suppose that what has not been taken up for some purpose or another consists of land hopelessly barren, or of sterile, snow-covered mountains. No doubt there lie many years of rapid progress yet before Canterbury and Otago. Communication will be opened with districts which are at present off the linos of road or railway, and these will produce immeasurably more than they do at present, and discoveries of mineral resources may be made at any time. But in Auckland most of tho land not in beneficial occupation by Europeans is in the hands of the natives, and instead of this being the'worst part of the Province, it is the best. From one limit of settlement at Te Awamutu, in Waikato, to the other limit at Waitara, in Taranaki, is 120 miles in a straight line, comprehending half of the island at its broadest part, including much land known to be

exceedingly fertile ; and yet in all this there is no European settlement at all. Over all the rest of the Province also there are large areas of native land. Ultimately it will come to this : that after ample reserves are made for the natives, the rest of the land will fall into the hands of Europeans. So that Auckland, in the future, has acourse to run not open to any other part of the colony to the same extent, and will ultimately (but when ?) leave them far behind in the race. When the Southern Provinces are all occupied, we shall have vast expanses of fertile country open for the investment of capital, and, by their conversion from fern to grass and crops, adding to the prosperity of this part of the country.

Amongst the census tables there is one shewing the number of live stock and poultry, with the annual production of butter and cliee3o ; the number and description of agricultural machines, and the quantity of grain and flour on hand, and from this we may set forth a fencomparisons. In respect to only one animal is Auckland at the top of the list, and this is the worse than useless animal, the goat. Of these pertinacious garden plunderers, Auckland has 4,737 ; Wellington, 589 ; Westland, 2,040 ; Canterbury, 1,025 ; Otago, 2,835. The great predominance of Canterbury is in pigs, of which she has more than double any other province. The numbers are : — Auckland, 38,430 ; Wellington, 23,531 ; Canterbury, 52,507 ; Otago, 30,278. In cattle Auckland stands well, being a long way ahead of Wellington and Canterbury, and not far short of Otago. The numbers are :—Auckland, 127,575 ; Wellington, 90,234 ; Canterbury, 100,310 ; Otago, 147,929. It is interesting to notice the rate of increase since last Census in this department, and turning to the figures compiled ill 1874, we find that Auckland has made the largest absolute and relative increase. Auckland has increased by 21,980; Wellington, by 14,582 ; Canterbury, by 13,558 ; Otago, by 11,008. In the whole colony there were 575,430 cattle. We find that by the last census of Victoria (taken in 1877) there were in that colony, 1,174,170 cattle ; while in New South Wales there were 2,740,355, so that there is still abundant room for increase in this colony. It is satisfactory to find that Auckland has made so much progress, and it may be confidently anticipated that by next Census Auckland, in respect of cattle, will be far ahead of all other Provinces. In sheep, Auckland is, as might be expected, a long way astern, being beaten by every Province except Taranaki and Westland. The numbers are, Auckland, 540,277 ; Wellington, 1,380,305 ; Hawke's Bay, 1,572,544 ; Marlborough, 799,902 ; Nelson, 020,331; Canterbury, 3,500,301 ; Otago, 4,446,023. The total number of sheep in the colony is, 13,009,338 ; in "Victoria, 10,114,207 ; in New South Wales, 20,902,244. These two lastnamed colonies may be taken to liavo reached their limit, and the last Census shows a considerable decrease in both ; but in New Zealand there has been an increase of about 2,000,000 over the return of last Census. We may remark that the largest proportional increase is in Auckland (from 340,241 to 540,277) and Taranaki, while the increase in Otago and Canterbury has been very small.

The annual statement of the transactions of the Auckland Savings Bank has been published. It is a very satisfactory document, and shews that the general condition of the working classes here leaves little to bo desired. Though the prices of all kinds of labour in Auckland are much lower than in the Southern provinces, it is evident that many of our working people contrive to live within their income, and thus put something past for the proverbial " 'rainy day." Theoperations of this institution are confined to the inhabitants of the city of Auckland and a narrow district in its immediate neighbourhood. Did the Act under which the trustees of the institution discharge their duties permit of more extended operations, the transactions of the bank would very soon be greatly developed, as it is held in high esteem by the working classes, and the large amount of reserved funds at command give it a degree of security which commands confidence. At the beginning of last year the bank held a balance of £105,570 14s GJ at the credit of 3,721 depositors, but during the past year this large sum received considerable augmentation. On the 31st of December last the amount at the credit of 4,391 depositors was no less than <£131,825 Is Id, an increase during the year of £22,95-1 Us 7d. This result is very satisfactory, considering that the business was regarded as generally unprofitable last year. This sum at tlie credit of depositors is equal to an average of something over £30 to each. But, of course, the sum at the credit of the several depositors varies considerably. There are 2,09s depositors with sums of £20 and under at their credit, aggregating a total of £14,101 19s 7d. The next grade is that of depositors with between £20 and £50 at their credit. This clas3 numbers GG7, and have a total of £21,195 10s 3d at their command. Depositors with sums ranging from £'50 to £100 at their credit number 511, and together can command £30,3G0 2s -Id. Depositors with £100 and upward at their credit number 514, and own a total sum of £58,112 14s sd. Such facts are highly commendable to the working men who can command the above sums, and shew that wliilg some of the labouring classes may be foolish and spend their money i'l a way that profitetli not, there are many others with sufficient manliness to deny themselves present luxuries and indulgences for the future benefit of themselves and those dependent upon them for support. During last year no smaller a sum than £105,282 103 7d was placed at interest in the bank, but during the year £87,374 03 Gd was withdrawn. A largo portion of this amount very probably had been withdrawn for the purpose of purchasing property, in many cases possibly for houses for the depositors, and during the latter part of the year many sums have been withdrawn to benefit by the war at present going on among the other banks. In the Savings Bank 110 higher interest is allowed than 0 per cent., and when the other banks give G, 7, and 8 per cent, for deposits, it is the invariable practice of many Savings Bank depositors to withdraw their little hoardings, and place them out at the higher interest which the other banks allow. But ven at 5 per cent, interest per annum upon deposits, no smaller a sum than £5045 103 Gd was last year added to the working men's pile without any other exertion or trouble on their part than simply depositing their savings ill the bank. For the last ten years the progress of the bank has been steady and. rapid. At the close of the year in ISG9, the amount at the credit of depositors was £23,741 Gs, and from this sum it has gene on increasing year by year, until, in December last, tho credit balance stood at £131,825 Is Id. While this largo increase has taken place, indicating a very considerable augmentation of business, the expense of management lias necessarily been added to, but 'not nearly in tho same ratio as the business. Since the end of 18G9, the amount at the credit of the depositors has increased more than five and a-half times, but the expense of management has only increased about two and a-half times within tho same period. The returns of tho Penny Bank are also satisfactory. During the year GGB new accounts were opened, and at the end of December last there were 1999 open accounts, with -£2048 8s Od at their credit.

His Worship the Mayor of Auckland and Mr. G. Von der Hey do, Consul of the German Empire, were entertained at dinner on Feb. 28 by Captain Von Werner and the officers of H.I.M. ship Ariadne. The Ariadne left on following day for Samoa. She has spent a considerable amount in proviaionig and other stores necessary ia refitting.

Amongst other exhibits to be forwarded from Auckland to the Sydney Exhibition will be a fine collection of the beautiful ornamental woods of this Province, furnished by Mr. Norrie, cabinetmaker, of Shortlandatreet. The specimens will include five varieties of mottled kauri, amongst which is one known as the fern-leaf variety,—a beautiful specimen of this rare sort. There are also samples of mottled totara, pnriri, and rewarewa. Ia ornamental woods for cabinet purposes there is no country in the world that produces greater variety or specimens of greater beauty than the Province of Auckland, and we are glad to find that they are to be represented. The half of each slab is to be polislied and the other half in its natural state. In order to show the difference between the mottled and the plain woods of the same species, Mr. Norrie will also forward specimens of the latter. The total duties collected at the port of Auckland for January has recently been issued, and, including gold duty, amonnt3 to the sum of £20,057, which shews an increase over the corresponding month of last year of £703, or over the previous month of December, 1577, of £G782. The increase over December is chiefly due to the items of ad valorem goods, tea and sugar; in fact, with the exception of spirits, there is a Bteady increase upon almost all dutiable articles. Tea in December, with a duty of 6d per lb., brought into the Treasury £246, while in January with 4d per lb., the item is £207S ; sugar atld produced£lo34, while at Adicgave £2000. The difference between December and January, so far as tea andsugar areconcer'ned, was no doubt in great part owing to the fact that as little as possible of these articles was taken out of bond in December. Ad valorem duties amounted to, in December, £2088; while for the month just closed it was £5100.

The Auckland Institute has juat received from Mr. A. Goldie, the New Guinea explorer, a case containing a very laf.<»e collection of birds' skins, those several animals, and a nhnioa Election of native ornaments, implements, and articles of use. The birds' skins number 100, some of them being specimens of those least known to science, and the majority with plumage of remarkable brilliancy. Among them are some of the largest pigeons known to science, and several varieties of Birds of Paradise. The whole collection, with three exceptions, represent species not possessed by the Auckland Institute. The animals are also rare, one of them having been discovered for the first time by M. D'Albertis only about eighteen months ago. The native articles consist of fishing-nets, war clubs, greenstone ornaments, adzes, circular adzes titted with, handles, which would be dangerous implements to use in a fight, beside many other rare articles.

At one time it was feared that the wheat yield in this province would be considerably less than that of last year. It is too early yet to say what the general yield in this part of the colony will be, but in several instances the actual outcome of the crop after thrashing has been far in excess of that which was formerly anticipated. The crop of Mr. Hugh Knor, Camp Farm, Otahuhu district, has reoently been thrashed by Mr. J. Wallace's machine, and the actual yield was a fraction over 58 bushels per acre. Mr. J. Bainbridge, Maogere, has also had an unexpectedly good yield, so that it is to be hoped that the actual return from the wheat crop may be greater thau was anticipated. If the price of ;rheat was a little higher the farmers would be content with such crops. Some time since Mr. Heslop, the secretary of the Working Men's Club of this city, received a letter from the secretary of the Anti-Chinese movement in Wellington, requesting him to endeavour to get the work iug men here to co-operate with the movement in the South. Mr. Heslop communicated with the various trade societies, engineers, carpenters, tailors, printers, shipwrights, bricklayers, stonemasons, bakers, and drapers, and a delegate from each of these was appointed. A meeting of these delegates was held on Wednesday at Working Men's Club. The secretary read a petition, the salient poiuts of which are given below, and said that this petition was becoming extensively circulated throughout the city in all tbo principal workshops, and was receiving numerous signatures. It may be said that it is similar to one which is being circulated and numerously signed in the Southern Provinces. It is addressed to the Legislature, as the petition of the working classes of this city, and states that there are 400,000,000 of people in China, of which many millions will emigrate to these colonies during the next few years, to compete with the European workmen ; that Cliineso emigration is con tiolled by rich Chinese companies; that Chinese do not encourage trade as much as European workmen; thit they do not become permanent residents ; that tho wealthy Chinese purchase for a term of years large numbers of their countrymen, and send them hero ; that to allow Chinese to become sailors is to place passengers and cargo in constant danger, and permanently injure the English rule of the sea; that the Chinese are responsible for tho appearance of the hoodlum and larrikin; that thirty years of emigration has shown that the Chinese are inimical to our institution# ; that the Legislature impose a tax of £ — per head on all subjects of the Emperor of China coming here ; that the captains or owners pay such tax, the vessel being liable therefor, and that tho only exception be in cases of vessels seeking shelter from stress of weather.

We regret to notice in the obituary the decease of the daughter of the well-known Waikato chief Major Wiremu Te Wheoro. She had been sent to Mrs. Lewis's School, at I''psom, and MajorTe Wheoro in tended to have her educated and brought up as a European. Her untimely end will cause great grief among all the Waikato tribes. Through her father and mother she was one of the principal lineal descendants of Te Ivanawa, one of the great ancestors of the Waikato tribes, lier body will ba removed to Waikato to day, and will be buried with her ancestors.

The officers ot tho German war-bliip Ariadne invited a party of ladies aud gentlemen on the 19th of February, to a picuic at Stokes's Point. The cutters of tho ship conveyed tho guests, &c., to the locality, and a very pleasant hour or two was sprnt in one of the numerous and picturesque rotreats which abouud at Stokes's Point. A ball succeeded tho return to the vessel, at which many of the leading citizens and their wives wero present. The ship was gaily decorated with evergreens and flags, and the main deck presented a very gay appearance, the band rendering appropriate dance and operatic music until the departure of the guests.

The Regatta Committee on the Ist of February proceeded on board the P. M. s.s. City of Sydney, and presented to Captain Dearborne a magnificent cameo ring, and Mr. Swan, chief officer, with a valuable watch pendant, for tho courtesy evinced by these two gentlemen on Kegatta Day, when the steamer was used as a llagship. Tho presentations were acknowledged by the recipients in a courteous waiwitr.

The half-yearly report of the Colonial Bank, adopted at the rect-ut meeting of shareholders, held in Duncdin, appears to be satisfactory. It shews that there was a sum of £23,951 4s available for distribution as dividends. Of this amount a sum of £6000 was carried to the reserve fund, which now stands at £42,000. The directors also recommended a dividend of 8 per cent, per annum on the paid-up capital, which absorbed £14,822 2s 4d, thus leaving a balance of £3129 Is Si to be carried forward to the new account. Tho progrosa of this colonial institution has been very satisfactory ; and, after the directors' report had been adopted, Mr. James Rattray was elected to the vacant seat on the directory. It was stated that a greater number of votes were recorded on this occasion than at any previous election.

This article text was automatically generated and may include errors. View the full page to see article in its original form.
Permanent link to this item

https://paperspast.natlib.govt.nz/newspapers/NZH18790303.2.3

Bibliographic details

New Zealand Herald, Volume XVI, Issue 5395, 3 March 1879, Page 2

Word Count
5,427

OUR HOME LETTER. New Zealand Herald, Volume XVI, Issue 5395, 3 March 1879, Page 2

OUR HOME LETTER. New Zealand Herald, Volume XVI, Issue 5395, 3 March 1879, Page 2