CHOICE EXTRACTS.

Oamaru Mail, Volume I, Issue 251, 10 February 1877, Page 2

CHOICE EXTRACTS.

HOW RUSSIA BEGAN BUSINESS IN CENTRAL ASIA. In ISG6 the Russian Government sent what was called a scientific expedition, under the chai-ge of M. Mitcha, into Central Asia, Having heard of the gold mines of Mantchuria, the Russians conceived the bold plan of acquiring them. Honey probably was wanted for the Muscovite propaganda in Bulgaria, and wherever Russia had selfish interests to serve. It would not have suited the Russian reputation, for humanity to invade Central Asia and take possession of mines with provocation. It was therefore necessary to provoke a provocation, and Russian ingenuity found the means. The Imperial Government .s mt a band of armed adventurers to the mines, just after the fashion'of the present Russian invasion of Servia. Roused to indignation, the Mantchnrians attacked the freebooting Russians and killed every one of them they could lay hands on. This was exactly what the St. Petersburg Government wanted—a pretext for an open invasion and ultimate annexation of the peacebreaking country. It is curious that the Musovite propagandists regard every land on which Russian myrmidoms ever set foot as a Russian province. In 1868, the Imperial Government openly sent an armed expedition under the command of Major Tychmenieff to avenge the slaughter of the quasi-scientiiic thieves, to punish the rebellious owners of the gold mines for defending their own. The unarmed Mantchuriaus, of course, were easily beaten ; they ran away to save their lives, and the Muscovite took quiet possession of the mines. It was singular—too singular not to have been premediated—that just at this time the Russian Governor of North Siberia, General Korsakoff, received orders to " postrashate" (that is to frighten) the Chinese, and that in consequence five columns of the White Czar were put in motion. It is also singular that these columns, instead of frightening the Chinese, found their w&y—jjrobablyby mistake —to Mantchuria and Mongolia, whose people—perhaps also by mistake—had never heard of the massacre of the Russian scientific explorers. Wherever Korsakoff's columns went, a line cf blood and fire marked the track behind them. Their humanity took such a questionable shape that, hearing of the Russian talent for rapine and ravishing, the villagers fled to the forests and the mountain passes, and took refuge in the unhealthy mashes. ■ In one of those treacherous marshes 5,000 of the frightened people (men, women, and children) hid themselves. The chivalrous soldiers surrounded them, opened a brisk artillery and musketry fire on the unarmed fugitives, and in the name and for the glory of Muscovite humanity and civilisation, slaughtered a couple of thousand of them. Korsakoff was as thoroughgoing a propagandist as Kauffnan, who Faterproved his humanity in the campaign against the Yomuds.

bassy" originally consisted of two tian gentlemen and their cook ; one of tne former died, en route, at Bombay ; the other also died on arriving at Rangoon. The "embassy" therefore collapsed, but & few speculative persons in Rangoon hit on the happy thought of making the cook pass off on His Majesty as the "embassy." Accordingly, he proceeded to Mandalay, obtained an audience, and was lodged in the residence that had been provided for the late French embassy. The cook was treated with high honours, but unfortunately he was not equal to the occasion; the position was too great for him, and he fell sick. He was waited upon by a crowd of the Court physicians ; their numbers, at any rate, if not their skill, had the desired effect, and he became restored to health, and expressed his desire to return to Egypt. His Majesty provided ample funds for his expenses on the journey, andffpresented him with some valuable ruby rings, which he made over to his attendants. The "embassy," i.e., the quondam cook, has lately returned to Rangoon, but he finds that his attendants have fallen from him. His cash is also nearly gone, and the rubies are not to be found. It is believed he is sheltered in one of the Mahommedan mosques in the town, and an ex-native doctor, who accompanied him to Mandalay and back, is said to be wanted.

I «* moving the* adoption I of jMtleport, ttmdt Gentlemen,-Our I tftlan«u-9li«e* and report are now before I b« adopted by this meeting f hnvv v«ry I faw remarks to make oti this occasion. I Uh« arrears of capital account stood, net the 3l«t December, at L3/J,"A but they lava slnc& beea rtattucedi to L 2.980. These arrears appertain to>> I tt> shareholders? aftt l' the directors think that enough grace has now been extended to them. The capital we poa»es» continues Sjlfco be sufficient fotr the busintss the Bank *||» doing* and Board see no reason at pr«aent to- make a farther call, nr to issue mere shares. The deposit accounts in our taat balance-sheet stood at a much higher tfgnre r J»i» remember, than they did »ix months before-- by some LB>r,ooO. This wn» partly owing to three or four ' ipecial deposits «jf large amount which we then enjoyed, ami which have now been withdrawn for investment otherwise. These withdrawals account for a jnneh greater sum than the decrease; of in, our deposits shown by the present balance-sheet, because realty our ordinary deposit business has increased considerably within the half-year, and we have now actually 2~& accounts more than we Bad six months ago. In coin and bullion we are strong, and tt might seem thtt these are above what we need reset Ve. But the CS'enerat Manager was preparing ia I)ec:'niber for kne purchase of the London exchange, which would be coming to him during the wool season. The Hank's advances have been fully maintained, both in amount and character. It is the aim of the'management to admit to onr ledgers only legitimate commercial business, but to encourage- that to the utmost of our I means. Perhaps it will not be out of place he»e for the Directors' to acknowledge with satisfaction that the Bank has secured, since we met in July, several of the very best commercial accounts- in Stew Zealand. There is no doubt, gentlemen, that the numerous New Zealand proprietary of this .Bank gives it art immense advantage over many of its rivals, although we have started so much later, and have stilt so much ground to gain. The Directors feet this telling in the Colonial Bank's favor every day. and they contidently believe it wilt be your -privilege within a very few years to see this Bank in a strong leading position, paving as good a dividend as its neighbors. To ex- ?.. habit m a few word.* tue held of operation-* ' ! Q»,c nave before na : In September last the fIL~ banks doing business in iSew Zealand, the Colonial Bank, hetd among*.; ;X m LVtUohOOO of private tit Posits, of SyPhich we held only LS2<>.(WO--;u>t 0,,e-JKyt-dfth. Also, at the same date, the KHieinesm advances of the six banks stood Pat L!>,300.001>, of which, again, less t an om>twtdfch belou cod to tile C'-doiuaUM.uk. The moral of the-so remarks U this : I advise yon strou.dy not to sell your s are'. even \-x [' .-:■- '»'.iey are goo:! s r oe!, ; *et !■• ehi.-iii 0:1 vo-.,;- wiv-fS. (Applaud.) Bu - to return t.> i-i-e a H'oiint.-s. L'lie t>.reci:oi-:; lio" \. vo-.i -;: ho satisfied with fcheumouut of ■<«»»;■' ••oi!:.<. Taoy are a 00-nsikrahle i„, - e _, -,; ~;-. t.u !u.-.t >.taVr.,r,r. and lire i-i; jij-■■>.-i-i ■ i.e imo;r;,i. Y:e g-m. r.'.. c!;«- . ■ ;:--'---lii. IS a!) t-t 11 (.■■ >l-ta: I C '■•.:il >,' ■C : fill' eo'lU'l'l., w!m:'i the L>il\ o!-.o;'S ke.-u e;eisfca:ifc!y bef-.i-,; C loin ; an I- a'.t;<':e;i ;h.y, havj felt i;. n u •s-tar/ ilurin ; i, .-■•,< nl y. ;-.- to stren ,'!'- en tie Pa-ik'-* s*K;:lf ;<t. in Te tlian'o'io po::i!-, they - a.ve !•■- u a.'--!.' <■<■ keo(' «l »wu and even d-nuni.; i e'io Uc o hv several hu-ulr Is. We _y<.n v. ill ngroo wir.:i- on' 1 view of appne.ria!- :g th-• JU:t nrolif.s. Having aire;:, ly o;;!:;;:.;";:.. el by ouo sfcroiiu the proiiounary (■ X(,'<-u.ries, L(W-H I.JS, Bd.,we think if yon: now make up the reserve fund to LtOyOOO that you will have done as much in that direction us can fairly be expected of the shareholders at this early stage of the Bank's career, and that you cn-n_ now begin dividing a six pre cent, dividend with a Jfißar. conscience, having a good proreieet of continuing the same until you see tit to divide more. I beg to move the adoption of the re nor t. The itou. M. Holmes said : Mr. Chairman anil gentlemen, I have very tnuut pleasuvo in seconding the adoption of the report. I think it is (ptite as favorable as shareholder* could possibly expect, especially after the six months of dull times that, we have experienced throughout the Colony, tt must bo gratifying, indeed, not only to the shareholders of the Bank, tut ako to those who have the conducting «£ the business of the institution', that after this period they should bo aide to come befove this meeting and give in a report so' highly satisfactory. There is circumstance, sir, that I wish to refer that is the increase in the value of tha stock.. Within six months the stock bo» increased from fifteen to twenty per cent, in value, and that increase may fairly be expected to continue ; and I uhoxidil not be at all surprised if at this tiino next year the shares are at a premium. Thsre is another circninstance. sir, that 1 wish to-advert to. I am. highly delighted that the dividend- is being now declared in consequence of a number- of persona that are known to shareholders in the Bank having purchased their shares for income. They, of course, will be peculiarly gratified, because they may fairly look forward with the expectation that the dividend now declared wilt be continued from time to time, znd perhaps it. may only be the prelude to a much greater dividend at a some future period. I think, therefore, you wilt all agree with me, that the report is highly satisfactory ; that the prospects of the Bank are as good as the most sanguine amongst us could desire ; and t think we are largely indebt' d to those who have the management k of this institution forth© manu.r in which thay muvw conducted its a&urs ttp to the present i'mn\ With these remarks, I beg t«* *BC©»dJ s .'.& adoption of the jrepwet.

| The motion to adopt the report was car- J ried unanhiiouaty. ELECTION*. The next l>oatncdi waj the eketion of auditors. " The Chairman annotm-. 1 that i>lr. o. ■ S. Webb retired from the c;nidi-l dnr.-. Mr It. Wilson proposed the Mr. Keith Jttamaay, seconded by Mr. Wilkinson ; and Mr. IliH Jack proposed Mr. K. Smith, seconded by Mr. Moody. There being two vacancies, and no other ' candidates being proposed. Messrs. Hamsay and Smith were ueclared duly elected as auditors. The Hon. M. Holmes and the Hon. W. 11. ttevnohU tfeK the candidates for the vacant seat on the directory. The v>>t-.» were taken by ballot at the conclusion of the bnduess, and resulted in the election of the Hon. Mr. Ileytioids. Mr. J. Cargill said : iMr Chairman and gentlemen, I think, after the very gratifying report we have heard read and have adopted to-day, it in our duty, a* well as a pleasure to tts, to i\ cord a very hearty vote of thanks to» the Directors and o:l?cers of the Bank. We have turned the corner. and are m»w for the first time paying a dividend. I hope it will £" on a3 yeai-s r, tl on. I .beg to propose a vote of thanks to the Directors and otliccra of the Bank. Mr. F. Chapman seconded the motion, whiea was carri.d unanimously. In reply, the C!iafrman said : I beg, gentleman, to thank you very much on behalf of the Dirjctow for the v„te of thanks which you hare passed, although I think most of thtun deserve that vote of thanks. I am not speaking now of fie officers, because 1 would rather leave that in more fitting and competent hands. Tsut speaking of the Directors, I think tlicy deserve the vote of thanks. They attend very closely t*» the business, and everyone of them does so with the greatest zeal, and many of them with very great success. It may be t r "at sometimes here the Board of Directors is a little s % ort-!nuded, because of several of them being also members of our Mouse t>f Legislature ; but yoti cannot escape that, gentlemen, if you want to appoint your leading citizens. Notwithstanding their absence during part of the year, I can tell yon this, that they do not forget the interests «4' the Bank, and t' at, wf.fti absent, th*y arc ?i>mv!ii!iM doing more for the Bank than those of us who remain at home h:tve the means of doing. (CW*.> Mr. Cowte, the general manager, satd : < fenttetiK n. on t>ehah" r>f my colleagues and myself, I beg to return you our warmest ttianks for the vote yon have passed s--> eoVvite.llr. It is. lam sure. piee.sing to tt:os-r *.f tt:.* w'-o ar • now prey.eui'.. and will, I am sattsfted. b.-> e.tndiy gratifying to t.e.M.-s ■ -.<• t'u ir els.-wto-sv, to Eiu.t that their ttl'nris in your b.-ludf ar.thtt.; ;,.ppt\ ciat d and aeknowt-dged : but \K riuit me to ;\ lil t'-at. l.oWv'V'-r r iue'g "dc j or zealous yon." ;>;• ,' nyir ',". i\vy c,",*iot. ; , x.'iru. ard t V t n!'i::v.'iu i'c;-i -/i L- -. ti iahe feis opp eTn:,;:y to ur.e up«>;i t'"' | piopri'. tors ;;•• ;-r -a! ly t:or. to ?• • m.-r !y | K ;nk s I'-; 'i .- '. i y :::'t-i !!■■::; ; rh-dr ti. i- -i-dv. ;■ it i. i: ■'■ '[ •-.;■; t!i L-"ovv;i ;-,.•■ >nrits. .'.:-! v- ■, e ; i. 'op ' u :'• i-r -V '-. ;',•■ ; i•> .■..!•