ANGLO-COLONIAL NOTES.

New Zealand Herald, Volume XLI, Issue 12523, 16 March 1904, Page 6

ANGLO-COLONIAL NOTES.

' . [FROM OUR OWN CORRESPONDENT. ] ,' ;-*, . London, February 5. Leicestke is a great centre of the shoemaking trade, and the local papers there ex-press■-pleasure that Canada 'and the Mother Country can now compete on even terms for the "-footwear" trade of New Zealand. :.-;.Among ~.company, liens .registered this week are three' mortgages of "the-Auckland Electric Tramways Company, registered on January, 29, (executed in' pursuance of obligations imposed by a trust deed dated July 14, 1903, for securing : debenture stock not to exceed the amount of the subscribed capital, ox which £285,100 is how secured trustee, Electric and* General Investment Company $-. charged on certain property and tramway concessions in the city of Auckland, New Zealand. -

Yesterday in the Divisional Court of the High Court of Justice, before the Lord Chief Justice of England, Mr. Justice Wills, and Mr. Justice; Kennedy, reference was made by Mr. ; Hamilton,; K.C., to the case of the New Zealand Shipping Company v.. tho Shaw, Sayill, and Albion Company. This case, it will be remembered, has been before the' Court several times, in the endeavour to set aside the award of an arbitrator who had dealt'with certain matters of account between the parties. :' Mr. Hamilton now said he could relieve the list finally of the nutter, as both ;.parties had come to an agreement. The Lord Chief Justice expressed his gratification at the announcement. :..'

A New Zealand appeal was the first case to come before- the Judicial Committee of the Privy Council when that body resumed its sittings last Wednesday. The case was that of li. Henderson and Co.' and others versus Darnell and others, which was tried in the New, Zealand Courts as far back as 1902. The subject matter was whether an action by ..appellants" to set aside an alleged sale to respondents of certain;assets of the appellant company was rightly dismissed by the New Zealand Courts, The case was opened on Wednesday afternoon and closed yesterday morning, when judgment was reserved. .The judges sitting were Lord Macnaghten, Lord Lmdley, Sir A. Wilson, and Sir ,Ford North. .--',.

It appears that the New Zealand Government is now in the. market as a buyer of Aylesbury ducks. A few days ago at an auction sale of specimens of these noted birds.,in the Buckinghamshire town, no less a sum than £7 15s'\vtis realised for a drake, the winner of a first prize at the Royal Agricultural Society's show. -'Another prizewinner, a duck, fetched £6, while 15 birds, disposed of for £31, were purchased by the Government for New Zealand. In the catalogue at the sale it was stated that the owner (Mr F. Bead, of Adton Clin torn) had previously sold a drake for £15, and a duckling for .15 guineas, while a drake, which was fourth at the York Show, with an tinshown duckling, made 20 guineas. Thus in seeming 15 of these valuable birds for, £31 the- Government of New Zealand would-ap-pear to have distinctly scored one.

Writing to- the Times on the subject of preferential.; tariffs, the Duke of Argyll .---"The Prime Minister of New .Zealand said only two months ago, in' his Commons House, 'What we are doing now by putting a duly of 20 per cent, on- the goods 'on the free list is not to help our own industries at all, but it is intended to give help to the British manufacturer.- ' Are yom,' he asked the House, ' prepared to.make a trade preference and a distinction between your own blood, your own kindred in the "Empire, and alien nations?' The answer he got was a majority of 60 for his Bill, with only 16 , against. ■ Let us, in considering what our colonies do for preferential trade within the Empire, not seek to minimise their efforts, but readily acknowledge the hearty brotherhood which in peace as in-war desires to work with us."

a debate at a meeting of the. British Empire League last Monday on the subject of Imperial military co-operation, Mr; W: P. Reeves .expressed tho opinion that what was needed was not-that the authori* tics responsible for the well-being of the different parts of the Empire should take counsel occasionally together, but that the taking Counsel of the authorities should be syst«matised and machinery provided so that it would be methodical and a matter of practice and of right for statesmen in-different parte of the Empire to offer advice on ail matters which they regarded as of Imperial moment. It was hot desirable that a statesman- responsible for one part of the Empire should, when he expressed an opinion, on what seemed a matter of Imperial consequence, be liable to be told by half the-newspapers in this country that he was guilty .an. act of; impertinence. It was '"desirable that there should be no regular, or proper channel through which the statesman could, as a matter of course, give his advice. This prospect should cheer Mi\ Seddon.

In the report of Messrs. Nelson Brothers, which has just been issued, the directors state.' that the- year's trading, including £6096 brought from the previous year's account, has resulted in a profit of £54,400. Interim dividends absorbed £13,629, leaving- £40;780; -The directors now recommend a final, dividend on the ordinary shares of 4 per cent, (making 7 per cent, for the year), transfer to reserve account (raising it to £40,000) £10,000, and writing down investment in consols to 85, ' £2785, leaving ; £10,120 to be carried forward. In accordance with the special resolutions passed in February and March .last year, the former £8 shares have been converted into eight £1 shares. It is stated that the exports of New Zealand mutton and lamb to this country for 1903 were the; largest on record, amounting to 4,634,772 '; carcases. Taking the average for the year, prices realised here have been fairly satisfactory; the current season in the colony ha? been somewhat delayed by variable weather, but prospects are*.- favourable, although it is not expected that shipments can exceed those Of last year, or perhaps equal them. This .report is* made up.for the year ended September 30 last, and will be presented at the meeting '■■ to be held in London on the 16th iust. ,

In the new number of the Empire Review, the editor, Mr. Kinloch ! Cooke, reviewing the attitude,of Mr., Seddon on the ChineseI ibour-in-SOtifch-Africa question, remarks: — ''Mr. Seddon, if he will allow me to say so, hardly seems'to have thought the matter out. And- vet he should have had ample opportunity for consultation, seeing that many months have elapsed since Mr. Chambirlairi's declaration of the views enter-, tamed by the Imperial Government. I greatly fear that the immediate cause of so sudden a departure from the customary etiquette of colonial diplomacy is due to un-expected-pressure from the' Labour party in New Zealand, acting on the knowledge that the' Premier has always taken a strong line against Asiatic immigration into his own colony. In fact, of late years, the legislation of the New Zealand Parliament in this respect has been rendered so strict that it is now, a most difficult matter -for a Chinaman to enter New Zealand at all. Be the immediate cause, however, what it may, no one can question that Mr. Seddon is actuated by the highest motives, and, whatever may be the outcome of his indiscretion, I feel assured that the idea of a protest was conceived in the best interests of the Empire. On the general question of.. Chinese . importation into tlio colonies, Australia and New Zealand • have an ;' undoubted right' to express their views, but when it comes to intruding opinions upon the settled domestic policy of another colony the matter assumes an altogether different aspect. And both Mr. Deakin and Mr. Sedifoh will be well advised it they retire from a position which .their best friends tell"them, is untenable." ; ■

Last Monday the half-yearly meeting of "the Union Bank of' Australia took place at 71, Cornhill, Mr. Arthur Flower presiding. j In moving the adoption of the report and | balance-sheet, which I sent you last week, .j the chairman ' remarked , that , the snareholders would: notice the better employment of the bank's resources, as indicated by the fact that while deposits showed r. reduction of • £423,000, advances showed an increase of £698,000, when compared with those oi six monius ago. The liquid readily available resources amounted to £7,232,000, which, after ; deduct-in? £1,000,000, the

amount of ..' investment allotted to reserve fund, representing some 7s in the £ of total liabilities, the amount (of which was £17,058,000, There was an- increase in the item- general expenses to the extent of £2500, that was attributable to increased payments'on account of rates, taxes, etc., in "Australasia, and to the extent of £1800 only, did it arise from increase in salaries paid. A decided rise in the value of money was. shown in Australia consequent partly, on local borrowings by the various- States and partly on the renewal of enterprise and requirements following on the recent improvement in climatic conditions. ;._ r The chairman went'J on to "'say .that it was a matter of great satisfaction to the directors to have, been able to write down -the bank's consols to 85.as well as to make other".provisions against depreciation in investments; and though the cost had been a very heavy one. he. thought they were justified in looking forward to a time when at present figures the bank's reserve fund would represent a very substantial margin of value. It would also be satisfactory to the shareholders to find the sum of £10,000 applied in reduction, of the amount at which bank premises And property in Australia stood in the accounts. He called attention to the fact that the appropriations could not have been'effected, out of the profits of the half-year's operations had not those profits been' supplemented by recoveries on account of debts previously provided for. It would be well to bear that in mind in order to avoid any disappointment, as future ipsultfi might'not of course.: include any such recoveries., The '.directors had decided to authorise the payment to the bank's staff in Australia and in London of a. bonus representing ten per cent, on salaries. The report was adopted, and at a special meeting which followed a resolution was carried to the effect that clause 102 in the laws and regulations of the.company be amended by omitting the words "£SOOO from January 1, 1883," and substituting £7000 from January 1, 1904," so that the clause as amended should read:"That the annual remuneration of. the directors be fixed at the sum of £7000 from January 1, 1904, such sum to be appropriated by them in such a way as they may themselves determine." The resolution was curried.