ANGLO-COLONIAL NOTES.

New Zealand Herald, Volume XXV, Issue 9030, 17 April 1888, Page 6

ANGLO-COLONIAL NOTES.

[from oub owjt correspondent.]

Lokdos, March 9. The Builder of laet Saturday contains a notice of the new municipal buildings at Christ-church, together with illustrations.

The values of the leading Australasian stocks have advanced considerably during the last few days, owing mainly to the fact that Mr. proposed conversion scheme is liberating a great deal of money hitherto sunk in consols. Investors do not care to accept the proposed two and a-half per cent, when they can get almost equally good security paying them four per cent, elsewhere. New Zealand stocks are benefitting rather more than the others, probably because of the assurance published a day or two ago that the proposed £2,000,000 loan will notbe submitted until the end of May or the beginning of June. This proceeding on the part of the Agent-General, at the instigation of his Government, has fiven a great offence to a section of the tock Exchange. The bears have been operating freely in the expectation of the loan being submitted immediately. They now find themselves caught, and are vowing vengeance against Sir Francis for his astuteness.

The city of Christchurch 5 per cent, loan of £25,000 was successfully floated on the 24th of last month. The amount tendered was £102,400, at prices ranging from the minimum of £102 up to £107 18s 6d. There was one tender of £200 at £110. The tenders generally were for amounts ranging from £100 to £3000, but there were two tenders for £5000 each at £105 and £105 7s 6d, and two for £8000 each at £106 8s 6d and £107 Is 6d. Tenders at £106 8s 6d will receive about 53 per cent, of the amount applied for and above that price in full. The average price obtained was £107 2s Bd.

Last Thursday night the Government brought forward, amongst their supplementary estimates, the sum of £18,500 on account of New Guinea. This was objected to by several of the Opposition, and also by Lord Randolph Churchill, -who ungraciously declared that when he was Chancellor of the Ex»*-*quer he absolutely refused to give one sixpence towards these colonisation schemes. The point of the objection taken by the Opposition was that there would not be time to spend £18,500 between now and the end of the month, and therefore, there was no justification for placing the sum upon the Supplementary Estimates. Some members also seemed to doubt whether the arrangements entered into with Queensland for the payment of the £15,000 per annum were of a sufficiently binding nature. In the end the vote was withdrawn, but it will be placed upon the regular Estimates for the coming year, and will no doubt be passed without demur. The Government seem to have spoilt their eaee by bad management, since there was no necessity for placing the vote upon the Supplementary Estimates. As for the arrangements for the payment of the £15,000 per annum by the various Australian colonies, the agreement is between the Imperial Government and Queensland, which latter colony will have to find the money herself if the others do not contribute their share.

Irritating little mistakes of this sort on the part of the Government and their officials are by no means uncommon. This latest of them caused so much annoyance in colonial circle? as to give rise to the remark from a leading Antipodean, that if this kind of thing went on, even without any active outbreak of hostilities, the Government might put such a strain upon the colonies as to lead to their severance from the Mother country. As soon as the decision of the House of Commons was known, Sir James Garrick went straight off to the Colonial Office to see what it meant. It was there admitted that an error had been made in placing the vote on the supplementary estimates, but he was assured that it would make no difference in the action of the Government. The money would be at once spent in the purchase of a steamer, without waiting for a formal vote of the House. Sir James represented to Lord Knutsford that if the idea got abroad in Queensland that there was any disposition on the part of the British Government to shirk their engagements the prospecte of the ratification of the Auxiliary Squadron Bill would be seriously imperilled, since the Opposition, who were now going to the country were quite disposed to make political capital out of this circumstance. Lord Knutsford at once gave the quieting assurances that some vessel would be selected from the Imperial navy of about the value of £18,500. Sir James ie pressing the Colonial Office very hard to get the sovereignty over New Guinea proclaimed without further delay, and I believe the documents necessary to enable this to be done are being expedited. The Imperial Government appear anxious to have some further assurance that the Queensland Government are absolutely committed to the New Guinea Act, and that it was not a conditional Act dependent upon legislative action- in the other colonies. Communications have been exchanged by cable, with the result that Sir James was able to make a formal statement that the Queensland Government was unconditionally pledged in the matter. An Englishman who practices as a lawyer in Paris called upon the Agent-General a day or two ago, and expressed a desire to be appointed a sort of colonial representative iii France. He did not admit the fact, but it ie knows that he is to a greater or

les3 degree an agent of Mr. John Hieginson. He talked about it being desirable to be able to give authoritative information concerning the colonies to Frenchmen who might desire to go out there. No great) value, however, was attached to his application, because in the first place there are very few Frenchmen who emigrate, and those whodogo to their own colonies. Secondly.an impression exists in the minds of some of the Agents-General that there may be a lurking danger underlying the proposal in the way of the sending out, possibly with the assistance of benevolent societies, of French criminals. A complaint on this score has been made by the United States against Germany, namely, that that country has agencies for sending out convicted criminals to the distant parts of the earth. The six days walking match at the Royal Aquarium, Westminster, between J. Scott, of New Zealand, and W. Howes, the exEnglish champion, terminated on Saturday with an easy victory for the greater Briton. The performances were: Scott, 307 miles 5 laps ; Howes, 253 miles 2 laps. Mr. Alexander Parkes, inventor of the Parkes , gold and silver ore - smelting patent, will shortly go out to New Zealand. ' In reference to the speculation now proceedingin London in South Australian rubies, it is of interest to note that Messrs. Verneuil and Freny have just informed the French Academy of Sciences that they have succeeded in producing real rubies by artificial means. Another chemist, who has examined these productions with the microscope, declares that they vividly recall the natural formation of the real stones. The largest rubiessehown by these gentlemen do not exceed the size of a big pin's head, so their value cannot be very great. About fifty applications have been received for the post of Chairman of the Railway Corainiseion, but none from America. The Agent-General is understood to have wired to the Government for advice as to how he is to proceed, whether he is to wait for more applications, te make a selection himsell, or to refer the choice to the Government.

Mr. J. H. Smith, who has jusb been appointed to the chairmanship of the South Australian Railway Commission, is to be entertained at a banquet at the St. George's Club on Monday next, preparatory to nis departure in the Valetta. At this function he will be presented with a testimonial. It is to be hoped that this will take the shape of money, and not be euch a white elephant as the one given to Mr. Speight when he went out to assume a similar position in Victoria. He was given a handsome piece of plate, but when he landed in Melbourne, he found he had to pay 25 per cent, duty upon it. As it was of the value of £1000, the duty amounted to a large sum.

The Imperial Post-office have agreed with the New Zealand Government to change the date of the London dispatch of the 'Frisco mail from Wednesday to Saturday, the new departure taking effect with the next mail leaving this country. The object is to expedite the delivery of the mails, and it is believed that a saving of three days can be effected by these means. The fastest steamers on the Atlantic service— the Etruria, Umbria, and vessels of that type—leave on Saturdays and perform the voyage in from two and a-half to three days less time than those leaving two days aarliar in the week, so that considerable saving of time will be effected. Of course, the change will be unpopular among certain sections of business people, but these persons must subordinate their interests to the good of the community as a whole. The cost of the service will be no greater, and the new regulations will be continued until next November.

It is understood that active negotiations are in progress relative to the development of the Canadian Pacific and Vancouver scheme, but everything is being kept very quiefc. I may here mention that the proposed annexations in the Pacific are being made in the interest of the proposed Pacific cable. These islands will be of great assistance in laying the line, and, indeed, it is said that it would be impossible to do it if they were to fall into the possession of the French or Germans.

A large number of the New Zealand exhibits that were left over from the Colonial and Indian Exhibition are being packed up for despatch in the Oceana, which sails thte week to Melbourne, for display in the Exhibition there. They consist chiefly of geological and mineral specimens and pieces of timber.

A consignment of stoats and weasels, to the number of 250, has been despatched by the Kaikoura to the New Zealand Government. It was at one time feared that the shipment would have been delayed, as the food which had been ordered from New Zealand for these animals was behindhand. Sir Thomas Brady, the Irish Inspector of Fisheries, sailed this week in the Kaikoura for Tasmania with 400,000 salmon ova.

The report that Sir R. Stout is coming over to take the Agent-Generalship is not credited, but an impression exists that we shall see Major Atkinson. The South Tokatea Gold Mining Company, Limited, with a capital of £75,000, in £1 shares, to acquire part of the Taumatewahine block, in the Coromandel district, has just been registered.