THE New Zealand Herald AND DAILY SOUTHERN CROSS. WEDNESDAY, MARCH 2, 1893.

New Zealand Herald, Volume XXIX, Issue 8815, 2 March 1892, Page 4

THE New Zealand Herald AND DAILY SOUTHERN CROSS. WEDNESDAY, MARCH 2, 1893.

On Monday we published a cable message from London respecting the New Zealand Mortgago and Investment Association which showed that that company had got into serious difficulties, the accounts showing a debit of £150,000, while the assets are put at £50,000. The company seems to have made a series of unfortunate investments. It was registered in March, 1880, and had an office at Queen Vic-toria-street, London, E.C. The position of affairs some years ago was unsatisfactory. On the 30th November, 1886, the report showed a debit balance of £19,735. At that date the loans on | debentures amounted to £72,270, and the mortgages to £41,000. The coupons on the debentures of this company, which run for various periods, are payable half-yearly, some at Martin and Co.'s, in London, and others at the British Linen Company's Bank in Edinburgh. The debentures are limited to the amount of the uncalled capital, upon which, and also upon the assets, they are secured. The scope of the operations of the company has not been very extensive, and so far as we are aware, it has had no business connections in this part of the colony. It has, as we have seen, been in a precarious position for some years, and apparently there is no prospect of an improvement. The question, however, of placing the company in liquidation has been postponed until the next annual meeting.

The immense traffic through the Suez Canal goes on increasing, and a few clays ago a telegram from London informed us that the North of England steamship owners are appealing to English shipowners in general to combine for making a second Suez Canal. The. great work of cutting the Suez Isthmus was only a short time completed when it became necessary, from tho rapid enlargement of the trade, to choose between making a second canal or doubling tho size of the existing one. The existing one was then doubled, but for some time back now the expanded accommodation has not proved sufficient, and hence the intelligence just received that a second canal has become indispensable, and no doubt it will be planned on a scale commensurate with the ever-progressing number of the vessels. We have repeatedly urged this enormous, always growing, traffic at Suez as sufficient evidence that even if there were a good prospect of a canal being constructed at Nicaragua, it need not interfere with an international company resuming the work at Panama, for if a single canal is not enough for a traffic between the Mediterranean and Pied Seas, most assuredly it would not suffice for what would arise at the junction midway of the Atlantic and Pacific. The needs of the mercantile world become more exigeant every year ; the volume of trade is constantly swelling, and an inter-oceanic passage through Central Americawhether at Panama or Nicaraguahas to be provided. Among its many other objects, it is wanted to lighten the colossal rush at Suez, and—what is more important—it would afford a route for much of the trade that in war-time could not pass through the Suez Canal. This is the one drawback to the grand work of M. de Lesseps at the Egyptian isthmus. Otherwise a boon to the civilised world, its geographical position between narrow seas, has rendered it a standing cause of disagreement and contention among the nations. The great engineer had naturally a company of his countrymen to supply

the funds for the work, and he was also I backed by his Government; while the I Khedive of Egypt took half the shares, and agreed that if at any time he should choose to sell them, he would give the ; French the first offer. Much international alarm was excited by these arrangements, for a new trade route between important parts of the world was thus created, and the key was placed in the hand of France. For instance, what ship would take the roundabout Cape path to India, when a shortcut was available by the Suez Canal ? And yet in wartime, this passage through narrow seas, like the Mediterranean and Red Sea, might become not only dangerous but impossible for the merchantman— in an age when commerce has not patience for the old tedious system of convoying. Then, the Suez route being temporarily suspended, the roundabout long sea routes would have to be fallen back upon. Such prospect of uncertainty, inconvenience, and loss, could not but be particularly disagreeable to England with her vast commerce. More than that, as she has an Indian Empire, and as France has recently built up a new Indian Empire, the latter— there should be any revival of their old quarrel in that quarterwould hold the short road to the East, while her rival would have to take the circuitous one.

Under all these circumstances, it is not wonderful that from the commencement the doings of France at the Egyptian isthmus were not regarded with a favourable eye in England. Neither were they favourably regarded in Italy, Spain, or Austria, Powers whose coasts are Mediterranean, and who though not possessing a huge commerce like that of England, yet mistrusted the historical aspirations of France in the Levant. The French played a prominent part in the Crusades, and not only in Syria but in Egypt, whither that monarch Louis, remembered as saint as well as king, led an army. In later days Bonaparte likewise inT aded Egypt; and at still later date, t»e hereditary protectorate of the Latin Christians under Mohammedan rule whch since the Crusades has belonged [to Jrance—was exorcised by the late Empre, Napoleon 111., when he sent an ari\y to rescue the Maronites of the Le>anon and the Christians of Damascin from a fanatical Moslem outbreak. Vj ien a t still later date her foolish Mincer Garabetta thought fit to extend th* dominion of France from Algeria over 'ijnis, all the above facts, and the proceedings at Suez, came to mind with those other Mediterranean nations, and there was a general outcry that their sea w, 5 about to become a French lake.

A few years before his i ast occur rence the Khedive brokers promise to France about the first -»fier of his shares, and sold them to Entj anc } under Lord Beaconsfield. Subsequenjy, when France was about to co-ope r^, 0 with England in sending troops to su } p ress the mutiny of the Egyptian arm> lS ] )e was prevented by the anger of tS e other Mediterranean nations over tin. Tunis affair, and their fear of her ambition. And so, while a French company holds, as before, half the canal shares, the joint protectorate ceased, and the onerous task has devolved on England alone. If she withdrew her hand, the canal would not remain open a week. There is nothing but dissension about Egypt and the canal. France is sore to the heart over it; Italy is ambitious about it, and has tried to establish her flag in the adjacent countries, Abyssinia and Barca. In Abyssinia, where there is a degenerate Christianity, it is said that Russian monks have been preaching not wholly on spiritual matters. As for the Sultan, liege lord of Egypt, he is ever willing to disturb the protectorate, either by favouring European intrigue, or by the periodical inroads of the frantic dervishes of the ►Soudan. And when with the difficulty of preserving the Suez route, there is so much bitter jealousy and disagreement between the nations that make use of it, it is ridiculous to suppose that it could be relied on by the merchant during a European war.

Our cablegrams this morning state that ft plot has been discovered in Russia to kill the Czar. Two officers of the army, implicated in tho conspiracy, have committed suicide. The Emperor appears to live a charmed life, for notwithstanding the widespread disaffection among his subjects, and the daring and desperate character of the conspirators, who are forever plotting to blow him into eternity, he has succeeded in passing through all dangers untouched. A dynamite outrage is reported from Paris, but no serious consequences seem to have resulted. Tho decision of the coal minors to temporarily stop work has had the effect of creating something like a panic in London, where prices are rapidly advancing. Tho Press is alarmed at the prospect of short supplies leading to serious inconveniences. An audacious robbery of arms has taken place in Ireland, the armoury at Gal way having been broken into and stripped of the weapons belonging to the Naval Reserve. According to M. Blowitz, I tho Paris correspondent of the London Times, the recent Ministerial crisis was deliberately brought about by M. de Frey- i cinet in order to get rid of the Premiership, as ho is anxious to succeed M. Carnot as President of tho Republic. This may be so, but the connection between his political intrigue and his personal ambition strikes us as being somewhat obscure. Little has been heard of late regarding tho federation of the Australian colonies. Sir Henry Parkes, however, has again brought it to the fore, and in the New South Wales Assembly last night delivered a speech on the subject. His Honor Mr. Justice Conolly, who only returned from Gisborne on Monday, resumed his usual sittings in the Supreme Court yesterday. A number of chamber applications were dealt with. The most important was an application by Mr. Cotter, acting on behalf of Mr. J. M. Brigham, for an order for a special jury of four to try a libel action, Brigham v. Kelly and Baulf, proprietors of the Observer. The defendants appeared in person to oppose the motion, but His Honor held that it was a proper case to be tried by a special jury, and granted the order. Remarking on the application. His Honor commented on the compilation of the jury lists in Auckland. He said that liability to serve on special juries should not exempt from service on common juries, but in Auckland separate panels seemed to be made up, for it was very seldom that he saw those who were liable to serve as special jurors on the common juries. The charge of perjury against Mr. A. F. F. Etheridge, which was to have been heard at the Police Court yesterday morning, was withdrawn, on the application of Mr. C. Buddie, who represented the Government authorities. Two young men, named George Riley and George Katterns, were fined 40s and costs for endeavouring to make their way into the residence of Mrs. Brrington, in Clarence-street, Ponsonby, and on being repulsed, breaking several panes of glass. They were under the influence of drink aft the time, but subsequently apologised, and paid for all the damages.

A curious case has come under the notice of the police authorities. A man arrived by the b.s. Manapouri, from Sydney, a fortnight ago, who in due course went to the police station, where he recited a most extraordinary story. He stated that he had left Sydney in some way or other, but had been transferred in mid-ocean. During the transfer he lost all knowledge of his identity, and not knowing who he was, he came to the station to ascertain, as well as to get some relief, as he was destitute. Inspector Broham communicated with the Customs authorities, with a view to bringing the case under the provisions of the Imbecile Passengers Act, 1882, by which shipowners are required to return imbeciles to the colony from whence they came, or to enter into bonds for their maintenance. Two passengers by the Manapouri identified the man as a fellow-p issenger, and as the result of communications with the Union Co. the unfortunate man was taken back to Sydney yesterday by the b.b. To Kapo. From information received by the police there is reason to believe that the poor fellow has been formerly an inmate of an asylum. Inspector Broh.im is to be commended for the promptitude with which he acted, and prevented the man being saddled upon the taxpayers of this colony. Tho Church Gazette for the present month is just published. As might have been expec'.ed a large portion of the current issue is occupied with information respecting the work of the General Synod lately held at Wellington. The opening sermon preached by Bishop Cowie is printed in exlenso, and will be found valuable and interesting in every way. Letters from Bishop J. R. Sehvyn are also given, one designed to have been read at the General Synod, but which arrived a day late for the purpose. To all interested in the work of the Melanesian Mission and to the many friends of the bishop, who has been obliged from shattered health to give up the work which he loved so well, and which he so faithfully carried on, these letters will doubtless be read with a deep, though melancholy interest. There is a large amount both of diocesan and parochial intelligence in the Gazette, and the usual sketch of the labours of our Church Diocesan Missionaries.

In its capacity as the Auckland Domain Board, the City Council has had prepared, in terms of the statute in such cases made and provided, a statement of the receipts and expenditure in connection with the Domain for the last year. The figures are as follow : — Receipts : Permits, £24 l'2s 6d; rents or reserve*!, or pastures, £137; rents, gardens, etc., £150 li's; Cricket Ground fees, £141 13s fid; ground rents, £137 lis; balance at 31st December, 1891, £439 5s lid : total, £1030 14s lid. Expenditure: Timber, £12 7s lid. Gardeners work: Wages, £310 8s; wages, Cricket Ground, £102 4s Sd ; tools, etc., £19 9s Id ; purchase of trees, seed, etc,, £3 0s Gd ; manure, £6; interest on overdraft, £24 10s. Miscellaneous expenditure : Advertising and printing, £12 12s ; roof of house, £26 7s; painting, etc., £7 13s; sundries, £9 13s 8d ; insurance, £11 12s 8d ; proportion office expenses, £50 ; balance on the 31st December, 1890, £434 16s 5d : total, £1030 14s lid. Statement of the assets and liabilities of the Auckland Domain Board on the 31st day of December, 1891. Assets : Outstanding rents, £53 12s. Liabilities: Overdraft on 31st December, 1891, £439 5s lid.

A correspondent at Waiheke Island sends us the following : —Thanks to the liberality of the Coromandel S.S. Co., the settlers here had a very pleasant outing on Saturday last. The s.s. Coromandel left Waiheke for Coromandel at half-past seven a. m., having on board most of the settlers—in fact, all who could possibly lea% their homos. After a grand trip across the gulf, and spending about five happy hours in Coromandel, the whole party was again on board ready for the return trip, which was also a most enjoyable one. Waiheke was reached about seven p.m., all on board seeming to have thoroughly enjoyed the day's excursion. The success of the affair is due very largely to Captain Scots, who with his men did all that was possible in order to add to the comfort of the excursionists.

In the fire at Hamilton on the 22nd ult., destroyed Inspector Emerson's residue, that officer was unfortunate enough to l sve his Crimean and Turkish war medak \ BO a Royal Humane Society's medal, gallant rescue of life, almost melted ou- 0 ? recognition. It is his intention to appr through the Commissioner of Police (Coloij;! Hume) to ascertain if the War Office wif. replace the war medals.

It is not intended to take any proceedings, we understate, against the native obstructionists at Aki<j.ka, trig station pending the result of the tr H l 0 f Iverei Kaihau, who is charged with a somewhat similar offence.

It is intended to bring tip the girl Beheere at the Whangarei Police Court on Saturday, it being anticipated that B\je will be well enough to attend on that date. The charge is one of concealment of birth. In regard to the nuisance at Shelly Beach, complained of by Mr. Campbell as occurring at the Ponsonby Rowing Club's sheds, the Auckland Harbourmaster, Mr. Burgess, reported to the Board yesterday that he visited the locality last week, and from information received from residents there, it appeared to him that Mr. Camp bell had just cause of complaint. His house overlooked the beach, and was only a little more than two chains from the boatshed ; and the noise, the disgusting language, and the indecency of bathers, were described as intolerable. It was questionable, however, whether the club were entirely to blame, as the general public frequented the bcacli in large numbers. The question was referred to the Finance and Legal Committee, Mr. Campbell and the secretary, or some other person repreting the club, to be asked to be present when the committee met.

Pastor Birch has received a call to the Oxford Terraco Baptist Church, Christchurch, which he has accepted, and will proceed South at an early date. When the call was received the matter came under the consideration of the officers of the Union Free Church, and they resolved not to stand in the way of its acceptance by Mr. Birch. A resolution was passed regretting his lose, and wishing him success in his future sphere of labour. Nothing lias yet been settled upon as to his successor at the Union Free Church.

fn connection with a letter which appeared in the columns of this paper the other day commenting upon the loss of a torpedo by H.M.s. Ringarooma in the Wellington harbour, a correspondent, whose position entitles his opinion to be considered that of an expert, writes pointing out that Whitehead torpedoes, when used in practice, contain no explosives. The writer explains that the object of his letter is to prevent unnecessary public alarm, and to assure everyone who may be apprehensive on the subject that the missing torpedo cannot possibly do any injury. Telegraphing last night, our Thames correspondent says The adjourned meeting of the local subscribers for the Picturesque Atlas was held this evening, when it was decided to defend the cases which are to be brought into court by Bowerman Brothers on Friday next. With this object in view, a delegate was appointed to proceed to Auckland to-morrow morning for the purpose of engaging a prominent solicitor to fight the cases out to the bitter end.

Another competitor for insurance business is announced in to-day's issue, namely, the Straits Insurance Company (Limited), which has its headquarters in Singapore, and has a capital of £830.000. It announces that it is prepared to accept risks at the lowest rates, and that all premiums are to be retained for investment in the colony. This should prove satisfactory tc policyholders, as insuring prompt settlement of losses. It has been decided to make Auckland the head office of the Company for New Zealand. Mr. George Johnston has been appointed general manager for the colony.

Wo have to acknowledge the receipt from Messrs. J. B. Gilfillan and Co., of a copy of Sutton and Son's catalogue, or "Amateurs' Guide to Horticulture" for 1892. The catalogue is got up in excellent style, as are all Messrs. Sutton and Son's catalogues, and contains particulars of the latest varieties of garden and other seeds. The appointment of a local agent must be of great advantage to the business of this well-known and long established firm of seedsmen, as for many years they had no agents, which placed purchasers at a disadvantage.

that Miss Winifred §£ OIT tjP 8 cumbed to her injun,L BUC - The deceased, a girl '.!? , « £ * r ? 00n * fell from a tree aboutfor'ni/lT ° fage ' was impaled upon ?her a " d being of a verv DSni '~ ,n 3 ur i«! sent for and did 0,1 me dL,' S BUrpcalsk.il could df or the unfor tuna girl, but from the fi, her condition wa» regarded as precariou A 5 A meeting of the let branch of the Irish National Federation |«1 be Weld to-morrow evening in St. Patrick Hall. At the con elusion of the ordiifc- business Mr. \V Duncan, J.P., will gii an address on the question "Is Ireland'demand for Home Rule reasonable and logjal ?" The meetif) ° is an open one, to whiclladies and Kettle 0 men are cordially invite We understand thatlT applicants lave applied to the Registir of the Univefcity for examination for thetwo exhibition in music of the Opera Cluin connection kith the Auckland Universif, Last evening the Re. Thomas Spureon gave a limelight exhiition of view on the Congo, illustrative jf missionary vorb in Africa, to the scholas of the Taberiaclt Sunday-school. The etertainment \v> b\ way of valedictory to die children, a»™ rev. gentlemen leaves for the South nai week. " r Entries for the Birkenhead and Norths Fruitgrowers' annual s.iow may be lef'at Mr. J. Barber's, Victoria Arcade, up topur p.m. to-day, or with the secretary at Birkenhead, up to eight p.m. / The picnic and sports of the Caledniati Society will take place on Friday, tit loth April, at Lake Takapuna. This'is first year that the Society has had s|X)f. and they trust the public will support fa new movement. A canvass is to be mJ of the city and suburbs, and no doubt thfccm* of Caledonia will respond to the appi. Further particulars will be announce! in due course. T The Northern Steamship Conwnjhava inaugurated an excursion tri/ to the Opotiki Agricultural Show, ntf accordingly the 6.9. Waiotahi will l# - e Auckland for Opotiki on Tuesday nit, at, five p.m., and will leave OpotikiHbout the Saturday following. Return I'kets will be issued for single faro, ajiluble foe that trip only. In our advertising columns wl be found the district orders for the overnment inspection parades of the volliteer corps in the district for the present Krnth, both for garrison and country corps] Recently the Auckland Libera Association took up newquarters in High-sttet,over the old municipal offices, High-strei. The new chambers of the association wis be publicly opened on Saturday next, at l»lf past two p.m., when Sir George Grey wl deliver an address. i Among the photographic ex lints sent by Mr. Charles Hemus to the Sotfcty of Arte Exhibition is a capital portrjb (enlargement) of Lord Onslow in Is Masonic regalia and decorations ; also ii fine portrait of little Lord Huia, whicl is a splendid specimen of child portraitue From a telegram received If Mr. C. C. Buckland from Wellington he learns that he lias successfully passed his »xaraination for the first section of the LL.H degree. The treasurer of the Orphan Hone, Parnell, acknowledges with thanks the Lilowing donations : —Frank Walker, Esq., ii Is; li. 15. Morton, Esq., £1 Is. The house steward of the District Hospital desires through our columns to thank the Rev. Frederick Larkins, of Momt Albert, and the members of the Wesley, \n Chinch, Devouport, for a gift of grapes and other fruit for use of patients.