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New Zealand Mail, Issue 866, 5 October 1888, Page 2

It would appear that rival candidates for the suffrages of the electors speak to each other in the moßt charmingly straightforward way. Mr Worth admitted at his meeting last Friday that only that morning Mr Coombe had remarked to him that it was a wise dispensation of Providence that prevented him from getting into the Council; whereto Mr Worth, according to his account, replied by accusing Mr Coombe of being two-faced. The second annual meeting of the Pitona and Hutt Building and Investment Company, which was to have been held at the Council office last Friday afternoon, lapsed for want of a quorum. The annual report of the Directors is as follows '“ The Directors, in presenting the balance-sheet of the first year's actual work of the Company, congratulate the shareholders on the result of the Company’s business. It will bo Been that the net profits of the year are sufficient to wipe out the debit balance brought forward of £63 Is 3d, to meet this year’s proportion of preliminary expenses, and to carry a slight balance forward. The nature and volume of the Company’s first year’s business, considering the small amount of capital .as yet employed in it, has been, entirely satisfactory. Should the Directors meet with the encouragement they hope for in the shape of deposits from shareholders and others, a dividend may be expected at the next balance. Two of the Directors, Messrs Mantell and Ronayne, retire from the directorate, and Messrs A. Boardman and F. W. Frankland are the only shareholders nominated for the offices. Thomas Mason, Chairman.’’’

The following rather significant paragraph appears in Messrs Faithfull, Begg, and Co.’s Monthly Investment List and Market Report for August :—“ Colonial securities have continued firm, and, in anticipation of the effect of the operation of the new Trust Act above referred ,to (Liability of Trustees), may reasonably be expected to at least maintain present prices, although these represent practically the highest points ever touched in this department. Reference to the share list will show that a practical effect is to admit to the category of trust investments the securities of all the principal colonies, * with the exception of New Zealand.’ No Indication which oould possibly have been given conld have more pointedly shown to those responsible for the colony’s finances that they had overstrained its credit than this. It is to be hoped that the hint will be taken, although so far as present indications go, it does not appear that the low ebb to whioh the Colony’s credit has sunk has been sufficiently recognised. It is gratifying, however, in this connection to observe that the time has passed when any and every appeal for capital met with a ready response. We allude to the reception with which the Otago Dock Trust loan has met with, the public having praotically ignored the soheme, and justly bo, for a more utterly gratuitous expenditure of money than the building of such a dock {tie difficult to izoaglaa.”